Housing prices dropped in China for the seventh straight month in March as the government took measures to cool the market. Industry insiders such as Anton Eilers of Richard Ellis are confidently proclaiming that prices will not crash, but others, such as billionaire Hedge fund investor Jim Chanos disagree.
If you have yet to see pictures of one of China's ghost cities, it's absolutely incredible that so much money could be poured into such a massive project. The Kangbashi district of Ordos, Inner Mongolia is absolutely gorgeous, with enough housing to accommodate over 1 million people . There's only one problem- no one lives there. The city was built and sold off to property investors, who have subsequently seen their property values drop.