Sorry!! The article you are trying to read is not available now.
HOT TAGS:  

Chinese Build Hotel Faster Than You Can Say Bubble

Print comment Post Comments
MAOZERS!
DailyFeed
Behold the power that is China.

In either six or two days (reports vary, but hey, it’s awfully fast either way), workers in China built a 15-story hotel that is Level 9 earthquake-resistant, sound-proofed, and thermal-insulated. It’s also made entirely of prefabricated materials (assembling all that probably took longer too, but again, it’s still pretty incredible). The time-lapse video is below.




But while we’re on the topic of Chinese housing, now might be a good time to remember that the old axiom, “If you build it they will come” is not entirely true. A housing bubble in China is a real concern, and summed up beautifully by Jay Hancock in today’s Baltimore Sun.

“A Chinese housing bubble is not like an American housing bubble. The American bubble has popped. The Chinese one hasn't. Yet. Americans bought houses. The Chinese in Beijing and Shanghai buy apartments. Americans bought with no money down. Many Chinese still pay cash with no mortgage. American real estate was lived-in during the bubble and became vacant afterward. Hyperappreciated Chinese real estate, on the other hand, is already vacant. Nobody ever lived there, at least to a large degree.”

So the Chinese can build cool hotels really, really fast. Big deal. The US was really good at building McMansions in Florida, and look where that got us.

Plus, when it comes to construction speed, check out how quickly NYC's 2nd Avenue subway is being built.

POSITION:  No positions in stocks mentioned.

TICKERS