Following the 60 Minutes profile of China and its vacant new cities, hear from Chanos who has been talking about a Chinese real estate bubble for several years.
According Chanos, the empty condos being built in China are owned by wealthy Chinese who can't invest their cash outside the country. He thought three years ago China had overbuilt, but incredibly believes that the building has doubled since then.
Chanos believes that the Chinese government has trillions invested in real estate at this point in the form of bad loans.
Track Gurus’ Stock Purchases Daily – Real Time Guru Picks
GuruFocus "Real Time Picks" reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 3 days after the date of the transaction. This is just one of the features provided with GuruFocus Premium Membership.