According to Yi Xianrong, an economist at the Chinese Academy of Social Sciences, a government think tank in Beijing , noted estimates from electricity meter readings that there are about 64.5 million empty apartments and houses in urban areas of the country, many of them bought up by people wagering on a constantly rising property market.
At first I tried to make a comparison with the U.S. , but that’s simply impossible, there is simply no equivalent for this anywhere in the world. This figure only counts “urban” areas, Chinese stats count a small 2 million people city as “rural” which would mean that most American (never mind Canadians) live in rural settings.