Do capitalists have a clue? I am serious. Capitalists actually expect a housing market in China? Should someone tell them?
They have no connection to the real world. They should make a study of what occurred when China built the Three Gorges Dam and where people lived then as opposed to where they live now. There was no Eminent Domaine, payments to property owners or mass building of new suburbia. Hello?
What Forbes is bemoaning is a speed bump in the road of a global economy. It nearly isn't noticeable.
What Forbes is bemoaning is a speed bump in the road of a global economy. It nearly isn't noticeable.
China’s housing bubble (click title to entry - thank you) is still getting the wind knocked out of it. Real estate prices fell to a 16-month low in May as officials pledged to keep property curbs that have sapped demand, according to SouFun Holdings Ltd, owner of the nation’s biggest real estate website.
China’s deflating real estate bubble is more ala Japan than it is similar to the U.S. Japan’s real estate bubble inflated in the 80s before losing nearly 60% of its value within a decade.
In China, homes are declining slowly. The fell just 0.3% from April to 8,684 yuan ($1,364) per square meter, SouFun said in an e-mailed statement on Friday, based on its survey of 100 cities in the country....
