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A Haunting Look at China’s Looming Housing Bubble

This weekend, CBS newsmagazine 60 Minutes did a story about China’s looming housing bubble and explored several of nation’s sprawling ghost cities. Around the country—which is the most populated in the world—massive cities, highways and skyscrapers have been erected, many of which are completely uninhabited because of economic problems. The 60 Minutes crew toured brand new cities which are almost totally abandoned. The eerie video shows vacant suburbs, shopping malls (equipped with fake signs for non-existent Starbucks and Apple stores) and even a fake old English village, all of which stand empty …

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