let s take a look at what s happening and how serious the situation is. property is basically at the heart of everything. for 20 years it boomed, developers borrowed billions, families invested their savings in houses. but now it s in crisis. there are too many houses and not enough people wanting to buy them. it means prices are plummeting. that is basically the biggest reason why we haven t seen the post pandemic spending boom that so many had predicted in china. chinese would slash their savings, to consume like crazy, go to parties, and that hasn t happened. everybody is well aware that the financial wealth is concentrated in housing, it s being hammered. some economists are worried on a deeper level. for the past few decades china s astonishing growth has been powered mainly by building. factories, roads, bridges, houses, you name it, china needed to industrialise and it did. but there comes a point where there is only so much you can build before it starts becoming a wa
water of up to 16 feet or almost 5 metres, overwhelming low lying areas. more than a million people have been told to leave their homes as evacuation orders are in place for 28 counties. the us national weather service says idalia made landfall near the town of keaton beach. our correspondentjohn sudworth is in florida and sent this report. the unusually warm conditions in the gulf of mexico have fuelled the hurricane, though it s not the wind speeds that pose the greatest threat to life, but the storm surge, as large amounts of seawater are forced into florida s low lying coastal communities. with more than 20 counties under evacuation orders, for days, the authorities have been warning those residents unable to stay with friends or relatives to head for the emergency shelters. this is my first evacuation in my entire life and it s just difficult. in your neighbourhood, have some people chosen to stay, do you know? yes. some have chosen to stay. what do you think about that
the state s governor ron desantis, warned that many residents could lose electricity, and said that 25,000 utility workers were on standby, with another 30,000 headed to the state. if you are in a evacuation drain and you have been directed to evacuate a low lying area on the big band region now is the time to do it stop if you wait much longer by the time we get further into tonight the weather will get nasty and nasty and we are looking at an of the eye wall arriving sometime tomorrow morning. you really got to go now. now is the time. you don t, if you stay and hunker down tonight, it s going to be too nasty tomorrow morning to be able to do it. as hurricane idalia intensifies to a category 2 and is set to reach category 4, our news reporter azadeh moshiri takes us through the meaning of the hurricane scale. we often talk about categories of hurricanes but what do they mean? most of them are measured on the safe assumption scale those outside of asia pacific and australia
the property is basically at the heart of everything. for 20 years it boomed, developers borrowed billions, families invested their savings in houses. but now it s in crisis. there are too many houses in not enough people wanting to buy them. it means prices are plummeting. that is basically the biggest reason why we haven t seen the post pandemic a spending boom that so many had predicted in china. chinese would slash had predicted in china. chinese would slash their had predicted in china. chinese would slash their savings, - had predicted in china. chinese would slash their savings, to i would slash their savings, to consume like crazy, and hasn t happened for the everybody is well aware that the financial wealth, it s being hammered. some economists are worried on a deeper level. for the past few decades china s astonishing growth has been powered mainly by building. factories, roads, bridges, houses, you name it, china needed to industrialise and it did. but there co
happening and how serious the situation is. property is basically at the heart of everything. for 20 years it boomed, developers borrowed billions, families invested their savings in houses. but now it s in crisis. there are too many houses and not enough people wanting to buy them. it means prices are plummeting. that is basically the biggest reason why we haven t seen the post pandemic spending boom that so many had predicted in china. chinese would splash their savings, consume like crazy, go to parties, and come back, and that hasn t happened. everybody is well aware that their financial wealth is concentrated in housing, it s being hammered. some economists are worried on a deeper level. for the past few decades china s astonishing growth has been powered mainly by building. factories, roads, bridges, houses, you name it, china needed to industrialise and it did. but there comes a point where there is only so much you can build before it starts becoming a waste of money.