Mar 23

The urban myths around China’s property bubble are as compelling as they are odd. There are tales of office blocks, towering in Shanghai, Beijing and a dozen other provincial cities, behind whose mirrored-glass exteriors is a ghostly silence. There’s the story the cycling professor noting a complete absence of lights in ranks of buildings, during the most recent solar eclipse in Beijing. Of taxi drivers who ply their trade, whilst nailing down million-dollar property deals on the phone. Of couples divorcing, so they can claim an extra share of the property bonanza. Even allegations of 60 million homes mysteriously having no electricity charges for more than 6 months. Continue reading »