ghost cities

  Last night, CBS’s 60 Minutes did a great two-part report on the real estate industry in China and the growing sense that there is a huge bubble that is about to burst here. Part 2 is an especially good eye-opener to anyone who hasn’t heard of the “Ghost Cities” being built all around the country: (Part 1 was a fabulous profile of one of China’s most famous real estate moguls, Zhang Xin. You can see it here.) Given the time difference, the report aired at what amounts to the…