tarboat's photos with the keyword: speculation

Speculative apartment developments such as these at Xian are typical of modern China. A massive building boom has caused every city to be surrounded by tower blocks built on borrowed money. The problem is that there are far more apartments than buyers/renters and vast numbers stand empty whilst yet more are built nearby. I can only see this ending in some sort of financial collapse in the building industry in China. For now it provides employment for thousands, probably millions.