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Real estate bubble in China

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movingtospore
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Real estate bubble in China

Postby movingtospore » Wed, 06 Mar 2013 8:36 pm

This is interesting. Google 60 minutes if the link doesn't work.

http://www.cbsnews.com/video/watch/?id=50142079n

Wonder what would happen to little Singers if China's real estate catches up with itself someday.

uscate
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Postby uscate » Thu, 07 Mar 2013 8:47 am

Wow! Thank you for that link! Very interesting....

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nakatago
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Postby nakatago » Thu, 07 Mar 2013 8:59 am

That financial guy just seems so non-chalant. He's like...

Host: "So, all these are empty? They built all these and no one's lived in them?"
Guy: "Yup."

And that Chinese real-estate guy? He's like "We are f***** over 9000 times till Tuesday."

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rajagainstthemachine
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Postby rajagainstthemachine » Thu, 07 Mar 2013 9:30 am

they could use that place to shoot post apocalyptic movies lol
To get there early is on time and showing up on time is late

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JR8
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Postby JR8 » Thu, 07 Mar 2013 8:05 pm

rajagainstthemachine wrote:they could use that place to shoot post apocalyptic movies lol


I'm 1/3rd of the way through the linked clip, very interesting so far!

Just wanted to say RATMs comment reminded me of a bit of movie trivia. The post-apocalyptic urban scenes in the Vietnam war film Full Metal Jacket, were actually filmed in the east end of London!

movingtospore
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Postby movingtospore » Thu, 07 Mar 2013 8:08 pm

The interview with Zhang Xin is pretty interesting too.

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JR8
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Re: Real estate bubble in China

Postby JR8 » Thu, 07 Mar 2013 11:56 pm

movingtospore wrote:This is interesting. Google 60 minutes if the link doesn't work.

http://www.cbsnews.com/video/watch/?id=50142079n

Wonder what would happen to little Singers if China's real estate catches up with itself someday.


Wow.... great link M2S, thanks for posting it.

I think I now understand why the Chinese like gold so much, at least it theoretically holds it value, even taking into account inflation.

But to buy new property (like a new car, it starts depreciating as soon as you drive it off the for-court) in a derelict city (essentially infinite supply, but nil demand), receive no income from it, and in fact have to pay towards it's maintenance each year...

I don't know what to say, except:
- it suggests that there are very very few investment opportunities, if people as astute as self-made Chinese are going down this route.
- I can't see how this can go on forever...


p.s. I laughed at her reference to 'Potemkin cities' :)

[I appreciate some here might not have heard that expression before, so if you're curious, here's a definition:
http://en.wikipedia.org/wiki/Potemkin_village]


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