Some economists are warning that China's building boom is actually a bubble that is soon to burst.
And if it does, it could wreak havoc on the global economy.
"In June, real estate prices in 70 large Chinese cities declined over the previous month for the first time in almost one-and-a-half years -- by 0.4 percent for new construction and 0.1 percent for existing structures. The government statistics office also reported sobering figures for the overall economy.
Statistics also show that the economy grew by only 10.3 percent in the second quarter, compared with the same period last year. Growth in the first three months of the year was still at 11.9 percent. This decline in growth seems ridiculous when compared with economic conditions in Western industrialized countries. But for the People's Republic, whose development model needs record growth to keep the economy from quickly sliding downward, the recent data is unsettling."
FULL STORY: China's Real Estate Bubble Threatens to Burst
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Experts Express Pessimism Over Housing Costs
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California Exodus: Population Drops Below 39 Million
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Chicago to Turn High-Rise Offices into Housing
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Google Maps Introduces New Transit, EV Features
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Ohio Lawmakers Propose Incentivizing Housing Production
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Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
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Barrett Planning Group LLC
HUD's Office of Policy Development and Research
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Learn the tools for implementing Universal Design in planning regulations.
