Wednesday, March 30, 2016
"Made Out Of Sand" - A Dramatic Look Inside A Newly Built Chinese Apartment
A Dramatic Look Inside
A Newly Built Chinese
Submitted by Tyler Durden on 03/29/2016 2
While real estate is all about "location, location, location," it appears there are sometimes more prescient factors that any prospective buyer should pay attention to. Amid yet another government-fueled housing bubble, it seems in their haste to fulfil a rapacious demand for property in which to gamble their hard-grafted assets, Chinese construction companies have cut a few corners. As the following stunning video shows, a "newly constructed apartment" crumbles before the owners' eyes as the 'concrete' walls turn to sand...
LiveLeak exposes, in the following video, just how poor the standards can be of so-called “new” properties. LiveLeak footage shows two men in a supposedly “new apartment building” in China where the concrete walls crumble like sand.
China is currently in the midst of a huge property bubble...
And the country is full of “ghost cities” and new apartment blocks waiting to be filled. Which is no surprise considering that China used about 6.4 gigatons of cement during their construction boom between 2011 and 2013, which is more than what the US used during the entire 20th century.However, those housing properties in China are frequently not built to stand the test of time: In 2010, officials revealed that many homes had a lifespan of just 20 years.
Just like buying worthless companies in the stock market bubble ended very badly, it appears buying 'worthless' homes is set for the same outcome...
Quick, back into stocks