Real Estate melt-down in China next?

The value of real estate is and always has been ‘what someone else is willing to pay’ for it.

Much of the housing real estate that was built in the past 10 years in China could only be described as speculative projects.

More at The Real News

Now that a lack of market in China is starting to show, the investors are not happy as the returns are not only disappointing, many of them are not going to ever even return the capital invested. The ‘creative accounting’ of Enron or TARP is going to be dwarfed by this elephantine misjudgement once more details get into the marketplace.

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