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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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Joined: Nov 6, 2006
Posts: 8828
Location: Hollywood
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
Posts: 8828
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: 596
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.
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