China, as reported months ago has whole cities that are nothing more than empty apartment buildings. Things are sketchy there and we'll say it again FIND OUT HOW TO SHORT HONG KONG REAL ESTATE. Hong Kong has a history of RE crashes and the one coming looks to be a doosey.
A couple articles.
Roubini and the Chinese hard landing.
Chinese Developers’ Outlook Cut at S&P as Government Curbs Housing Prices