Olympics Venue Becomes A Toxic Real Estate Asset

Were you beginning to think that we were the only country that could royally screw up real estate? It’s early in the 21st Century but the Chinese have the early lead in the worst real estate deal so far.

It seems that the Birds Nest has turned into one of the biggest white elephants ever. So far one event – an opera- has been booked for 2009 and it’s costing the Chinese almost $9 million a year just for maintenance.Evidently, they aren’t doing a bang up job of that as the paint is reported to be peeling.

Well, at least the powers in China don’t have to answer to Congressional committees about things like this. 

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