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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Sep 24, 2018 11:24 am 
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Quote:
Hong Kong’s short term money market rates soared to their highest levels in at least a decade on Monday because of expectations that the city’s lenders will raise their prime rates, in-line with an expected US interest rate hike by the Federal Reserve, due at the conclusion of its two-day meeting on Wednesday in Washington.


https://www.scmp.com/business/money/mar ... -ahead-fed

Quote:
Any increase in commercial banks’ prime rate would bring soaring real estate prices in Hong Kong closer to a tipping point, given the highly leveraged nature of the city’s property market.


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Wed Oct 10, 2018 4:59 am 
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Joined: Nov 6, 2006
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Location: Hollywood
Quote:
Home buyers angry that apartments are being sold for much less than they paid swamped property developers' marketing offices across China over the Golden Week holiday, demanding their money back.

https://www.afr.com/news/world/asia/chi ... 009-h16egx

Quote:
A decision by the developer to cut prices by up to 30 per cent sparked a wave of anger among buyers who had paid full price

https://www.scmp.com/property/article/2 ... torm-sales

Quote:
Chinese developers set for disappointing October as cash discounts fail to spur Golden Week sales
Property sales in 31 cities fell 27pc year on year in the first seven days of October


https://www.scmp.com/property/hong-kong ... -discounts


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Sun Oct 14, 2018 6:11 pm 
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Property Magnate

Joined: Jan 4, 2012
Posts: 602
Zerohedge wrote:
Violence, Public Anger Erupts In China As Home Prices Slide

...
whereas Chinese property developers usually count on September and October to be their “gold and silver” months for sales, this year has turned out to be different. As the SCMP reports, not only were sales figures grim for September, but the seven-day national holiday last week also brought at least two "fangnao" incidents – when angry, and often violent, homeowners protest against price cuts offered by developers to new buyers.

These protests are often directed at sales offices, with varying levels of intensity – from throwing rocks to holding banners and putting up funeral wreaths. The risk, of course, is that as what has gone up (wealth effect) will come down, and as home ownership has remained the most important channel of investment for urban households in China in the past decade, price cuts have become increasingly unacceptable and a cause for social unrest.
More...


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Sat Oct 20, 2018 2:51 am 
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Location: Hollywood
https://www.businessinsider.com.au/chin ... ts-2018-10

Quote:
China wants to build three artificial moons 'eight times brighter than the real moon' to light up city streets


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Oct 22, 2018 4:57 pm 
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Under CAB Investigation

Joined: Oct 22, 2007
Posts: 1904
That sounds like a very bad idea.

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If you want to improve, be content to be thought foolish and stupid.
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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Oct 22, 2018 8:36 pm 
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Back Home with Mammy

Joined: Jul 24, 2018
Posts: 62
Blindjustice BATONEFFECT wrote:
https://www.businessinsider.com.au/china-wants-to-build-three-artificial-moons-eight-times-brighter-than-the-real-moon-to-light-up-city-streets-2018-10

Quote:
China wants to build three artificial moons 'eight times brighter than the real moon' to light up city streets

It sounds as practical as Ireland's Olympic bid. What area of space would be required to keep it in orbit above a city?


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Tue Oct 23, 2018 12:13 pm 
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Under CAB Investigation

Joined: Oct 22, 2007
Posts: 1904
More mega projects from the Chinese, although it sounds like the CCP don't fully trust their drivers.

The Guardian wrote:
The world’s longest sea bridge, connecting Hong Kong and Macau to the Chinese mainland has been officially opened, in a ceremony in Zhuhai attended by Chinese president Xi Jinping and Hong Kong’s chief executive, Carrie Lam.

In a short address Xi declared the bridge open, as digital fireworks exploded on a screen behind him. The bridge will open to traffic on Wednesday.

As well as being the longest bridge of its type, stretching 55km, the $20bn Hong Kong-Zhuhai-Macau bridge is also one of the world’s most unusual roadways, with cameras to detect yawning, drivers forced to wear heart monitors and access restricted to the political elite and charity donors.....

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No tool is omnicompetent. There is no such thing as a master-key that will unlock all doors.
--Arnold Toynbee

If you want to improve, be content to be thought foolish and stupid.
--Epictetus


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Wed Oct 24, 2018 7:13 am 
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Of Systemic Importance

Joined: Sep 13, 2012
Posts: 5363
Real Estate Market Braces for Winter
https://www.caixinglobal.com/2018-10-22 ... 37741.html

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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Oct 29, 2018 10:53 pm 
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https://www.bbc.co.uk/news/resources/id ... dden_camps

Quote:
China's hidden camps
What's happened to the vanished Uighurs of Xinjiang?

China is accused of locking up hundreds of thousands of Muslims without trial in its western region of Xinjiang


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Fri Nov 09, 2018 8:43 am 
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Joined: Oct 29, 2007
Posts: 11763
Location: Multiverse
Fifth of China's Housing Is Empty. That's 50 Million Homes

Quote:
Chinese President Xi Jinping’s mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country.

Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to more than 50 million empty homes, he said.

The nightmare scenario for policy makers is that owners of unoccupied dwellings rush to sell if cracks start appearing in the property market, causing prices to spiral. The latest data, from a survey in 2017, also suggests Beijing’s efforts to curb property speculation -- considered by leaders a key threat to financial and social stability -- are coming up short.

“There’s no other single country with such a high vacancy rate,” said Gan, of Chengdu’s Southwestern University of Finance and Economics. “Should any crack emerge in the property market, the homes to be offloaded will hit China like a flood.”


https://www.bloomberg.com/news/articles/2018-11-08/a-fifth-of-china-s-homes-are-empty-that-s-50-million-apartments


Furthermore, given they enacted a one-child policy for decades, future demand may actually shrink, rather than grow.
I suppose on the plus side, this extreme over-supply will ensure some very cheap accommodation and cost of living for a long time to come.


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Fri Nov 09, 2018 8:49 am 
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Too Big to Fail

Joined: Aug 23, 2008
Posts: 3695
Location: Bogtrotterland!
mr_anderson wrote:
Fifth of China's Housing Is Empty. That's 50 Million Homes

Quote:
Chinese President Xi Jinping’s mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country.

Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to more than 50 million empty homes, he said.

The nightmare scenario for policy makers is that owners of unoccupied dwellings rush to sell if cracks start appearing in the property market, causing prices to spiral. The latest data, from a survey in 2017, also suggests Beijing’s efforts to curb property speculation -- considered by leaders a key threat to financial and social stability -- are coming up short.

“There’s no other single country with such a high vacancy rate,” said Gan, of Chengdu’s Southwestern University of Finance and Economics. “Should any crack emerge in the property market, the homes to be offloaded will hit China like a flood.”


https://www.bloomberg.com/news/articles/2018-11-08/a-fifth-of-china-s-homes-are-empty-that-s-50-million-apartments


Furthermore, given they enacted a one-child policy for decades, future demand may actually shrink, rather than grow.
I suppose on the plus side, this extreme over-supply will ensure some very cheap accommodation and cost of living for a long time to come.

I doubt it, there's a youtube video about the way Chinese people don't believe in maintenance at all, plus the fact that much of this property is very poorly built.
This probably means that much of it will be uninhabitable within ten years.

_________________
"Democracy is like sausage, you want it, but you don't want to know how it is made". [John Godfrey Saxe]
Ronald Coase, Nobel Economic Sciences, said in 1991 “If we torture the data long enough, it will confess.”
"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild
"To be precise, my mistake. Humans are underrated": Elon Musk


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Fri Nov 09, 2018 9:46 am 
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Joined: May 21, 2017
Posts: 196
mr_anderson wrote:
[b]....
https://www.bloomberg.com/news/articles/2018-11-08/a-fifth-of-china-s-homes-are-empty-that-s-50-million-apartments
....
I suppose on the plus side, this extreme over-supply will ensure some very cheap accommodation and cost of living for a long time to come.


Treadmill to Hell or Highway to Heaven?


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Fri Nov 09, 2018 3:00 pm 
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Single Home Owner

Joined: Aug 28, 2010
Posts: 113
Location: Dublin
dolanbaker wrote:
mr_anderson wrote:
Fifth of China's Housing Is Empty. That's 50 Million Homes

Quote:
Chinese President Xi Jinping’s mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country.

Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to more than 50 million empty homes, he said.

The nightmare scenario for policy makers is that owners of unoccupied dwellings rush to sell if cracks start appearing in the property market, causing prices to spiral. The latest data, from a survey in 2017, also suggests Beijing’s efforts to curb property speculation -- considered by leaders a key threat to financial and social stability -- are coming up short.

“There’s no other single country with such a high vacancy rate,” said Gan, of Chengdu’s Southwestern University of Finance and Economics. “Should any crack emerge in the property market, the homes to be offloaded will hit China like a flood.”


https://www.bloomberg.com/news/articles/2018-11-08/a-fifth-of-china-s-homes-are-empty-that-s-50-million-apartments


Furthermore, given they enacted a one-child policy for decades, future demand may actually shrink, rather than grow.
I suppose on the plus side, this extreme over-supply will ensure some very cheap accommodation and cost of living for a long time to come.

I doubt it, there's a youtube video about the way Chinese people don't believe in maintenance at all, plus the fact that much of this property is very poorly built.
This probably means that much of it will be uninhabitable within ten years.




It's uninhabitable right now. These guys do some really good videos on China. If you are at all interested in China it's worth watching a few. This one is very good.


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Fri Nov 09, 2018 6:34 pm 
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Too Big to Fail

Joined: Aug 23, 2008
Posts: 3695
Location: Bogtrotterland!
Yeah! That's the one.

_________________
"Democracy is like sausage, you want it, but you don't want to know how it is made". [John Godfrey Saxe]
Ronald Coase, Nobel Economic Sciences, said in 1991 “If we torture the data long enough, it will confess.”
"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild
"To be precise, my mistake. Humans are underrated": Elon Musk


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Sun Nov 11, 2018 1:42 am 
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Joined: Jun 7, 2018
Posts: 29
A Fifth of China’s Homes Are Empty. That’s 50 Million Apartments


Quote:
“There’s no other single country with such a high vacancy rate,” said Gan, of Chengdu’s Southwestern University of Finance and Economics. “Should any crack emerge in the property market, the homes to be offloaded will hit China like a flood.”


https://www.bloomberg.com/news/articles/2018-11-08/a-fifth-of-china-s-homes-are-empty-that-s-50-million-apartments?srnd=premium


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