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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Sat Feb 11, 2017 4:03 am 
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Homeless

Joined: Oct 1, 2016
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Of the many, many examples of mal-investment in China lately this is my current favourite. A $1b movie theme park that closed for 'renovations' within two years of opening after hugely undershooting visitor forecasts.

http://www.latimes.com/world/asia/la-fi ... story.html

At some point the consequences of the hugely expensive, chronically loss-making ventures that China has been splurging on for years will catch up with them. They can probably keep the charade going for a while yet though.


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Sat Feb 11, 2017 2:49 pm 
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Real Estate Developer

Joined: Jun 13, 2008
Posts: 821
Every country in Asia has abandoned amusement parks.
It's a thing here..don't know why..probably hard to make money from 'em.


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Sat Feb 11, 2017 4:44 pm 
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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Sun Feb 12, 2017 12:23 am 
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Real Estate Developer

Joined: Jun 10, 2010
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How is there a bubble with the massive amount of oversupply?

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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Sun Feb 12, 2017 10:24 am 
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Real Estate Developer

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Because China is still booming, relatively, and buying a house is a prequisite to getting married and sending your kids to the local school usually. Buying a house in the right city and right area is where the price inflation comes from.

But China is a BIG country..it really depends which city we are taking about.
One things for certain,there is no lack of houses there.


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Feb 13, 2017 10:45 am 
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Several Chinese colleagues have told me that its relatively common for new build high rise flats to be purchased but then kept in 'shell' form i.e. bare concrete, no fit out. Makes them easier to sell on in future apparently. No one lives in them of course, they're bought for anticipated capital gains not rental yield. So its all incredibly speculative.

No idea of the extent of it but if common would help to explain simultaneous sky-high supply and price rises in the major cities.


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Feb 13, 2017 5:18 pm 
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Neo Landlord

Joined: Nov 10, 2006
Posts: 203
Location: Barcelona
Rutgers wrote:
Several Chinese colleagues have told me that its relatively common for new build high rise flats to be purchased but then kept in 'shell' form i.e. bare concrete, no fit out. Makes them easier to sell on in future apparently.


And if you believe that, I've got a Bridge to sell you..


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Feb 13, 2017 9:30 pm 
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Too Big to Fail

Joined: Aug 23, 2008
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Location: Bogtrotterland!
soma wrote:
Rutgers wrote:
Several Chinese colleagues have told me that its relatively common for new build high rise flats to be purchased but then kept in 'shell' form i.e. bare concrete, no fit out. Makes them easier to sell on in future apparently.


And if you believe that, I've got a Bridge to sell you..

I don't know about China, but it isn't unheard of in London for buyers to buy a shell and leave it as such, the property is still a property when they come to sell it on.
A bit like playing monopoly.

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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Feb 13, 2017 9:36 pm 
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soma wrote:
Rutgers wrote:
Several Chinese colleagues have told me that its relatively common for new build high rise flats to be purchased but then kept in 'shell' form i.e. bare concrete, no fit out. Makes them easier to sell on in future apparently.


And if you believe that, I've got a Bridge to sell you..
The ADVChina video posted above details the same thing. It's well worth watching. A great series.


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 Post subject: Re: China on ‘Treadmill to Hell’ Amid Bubble.
PostPosted: Mon Feb 27, 2017 12:18 pm 
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Joined: Oct 29, 2007
Posts: 11790
Location: Multiverse
Chinese wages higher than Brazil & Mexico

Quote:
Average wages in China's manufacturing sector have soared above those in countries such as Brazil and Mexico, the Financial Times reports.
Average hourly wages in China's manufacturing sector trebled between 2005 and 2016 to $3.60, according to Euromonitor, while during the same period manufacturing wages fell from $2.90 an hour to $2.70 in Brazil, from $2.20 to $2.10 in Mexico, and from $4.30 to $3.60 in South Africa.
Across China's labor force as a whole, hourly incomes now exceed those in every major Latin American state apart from Chile, and are at around 70% of the level in weaker eurozone countries.


http://www.chinaeconomicreview.com/chinese-wages-higher-brazil-mexico


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