Beijing does a Dublin on it

Sponge Bob

http://www.bloomberg.com/apps/news?pid=20601206&sid=a8K__QRxjnQM

This reminds me of Sandyford but on a slightly larger scale.

Jack Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China. He keeps a slide show on his computer of empty office buildings in Beijing, his home since 2002. The tally: 55, with another dozen candidates.

“I took these pictures to try to impress upon these people the massive amount of oversupply,” said Rodman, 63, president of Global Distressed Solutions LLC, which advises private equity and hedge funds on Chinese property and banking.



Rodman figures about half of the city’s commercial space is vacant, more than was leased in Germany’s five biggest office markets in 2009.

Quite a long grim article. China is around where Ireland was in early 2006 with massive labour shortages and an equally lunatic property bubble. Every bubble bursts...as we know around here.

nesf

Yeah, there are a lot of reports of property bubbles inflating in multiple property markets in China. Could prove interesting to see how the State will react there.