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China already has numerous "ghost cities" that nobody lives in, so this project just seems like an especially environmentally dangerous jobs program: http://gizmodo.com/welcome-to-the-worlds-largest-ghost-city-... http://www.zerohedge.com/news/2013-09-21/chinas-ghost-cities...

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China is a big place. Just because there's no demand for housing in one part of China does not mean that there is no demand for housing in all of China.

And do tell me where housing is actually hot right now? Every single second+ tier city I've visited this year has had large amounts of new empty housing, the entire country outside of a few first tiers has long entered bubble territory.

Sure, ghost cities in China... Out of the thousands new developments in the recent years, four were slow to populate (mainly because supporting infrastructure was delayed).

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