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SleepyHead

Worlds Biggest Property Bubble

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They live in a communist country but somehow the huddled masses cannot be introduced to the housing glut. Major fail!

The excess housing should simply be auctioned off. (Combined with a sales-price related property tax to discourage the BTL crowd.) Highest bid, however low, takes the apartment. B)

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They live in a communist country but somehow the huddled masses cannot be introduced to the housing glut.

Doesn' t sound like much of a bubble to me yet.

How foolish of the Chinese state to build things people might need in the future. They should have just carried on financing western deficits t'ill the end of time and making no attempt to raise the living standards of its people.

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Not this again.

Middle class and elites in China are about 100-200million tops, pish poor peasants about 1.1bn people. These pish poor peasants work in factory jobs for a few years and toil, they return and buy their homes outright rather than be debt slaves.

Compare and contrast with the UK where a huge % of the population are involved in the Ponzi HPI scheme even NINJAS, few people buy totally outright.

Heh such empty cities exist all over the place in the UK. Like Manchester, has absolutely nothing in it other than debt reliant shops, virtually no production or anytihng useful at all yet it is pretty much a desert as much as the empty cities in China.

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Not this again.

Middle class and elites in China are about 100-200million tops, pish poor peasants about 1.1bn people. These pish poor peasants work in factory jobs for a few years and toil, they return and buy their homes outright rather than be debt slaves.

Compare and contrast with the UK where a huge % of the population are involved in the Ponzi HPI scheme even NINJAS, few people buy totally outright.

Heh such empty cities exist all over the place in the UK. Like Manchester, has absolutely nothing in it other than debt reliant shops, virtually no production or anytihng useful at all yet it is pretty much a desert as much as the empty cities in China.

Agree entirely.

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Not this again.

Middle class and elites in China are about 100-200million tops, pish poor peasants about 1.1bn people. These pish poor peasants work in factory jobs for a few years and toil, they return and buy their homes outright rather than be debt slaves.

Compare and contrast with the UK where a huge % of the population are involved in the Ponzi HPI scheme even NINJAS, few people buy totally outright.

Heh such empty cities exist all over the place in the UK. Like Manchester, has absolutely nothing in it other than debt reliant shops, virtually no production or anytihng useful at all yet it is pretty much a desert as much as the empty cities in China.

The only time the government ever seems to consider housing of the population is when the country is bombed to bits and millions are killed in wars. Pulled their finger out then, but since - the bankers have cored the economy out purely for their own benefit.

I will be presenting my buiness cards with both arms out stretched.

Come to think of it realy glad I've decided to not start up that company here, why bother contributing anything to this economic crap hole.

Edited by OnlyMe

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Not this again.

Middle class and elites in China are about 100-200million tops, pish poor peasants about 1.1bn people. These pish poor peasants work in factory jobs for a few years and toil, they return and buy their homes outright rather than be debt slaves.

Compare and contrast with the UK where a huge % of the population are involved in the Ponzi HPI scheme even NINJAS, few people buy totally outright.

Heh such empty cities exist all over the place in the UK. Like Manchester, has absolutely nothing in it other than debt reliant shops, virtually no production or anytihng useful at all yet it is pretty much a desert as much as the empty cities in China.

...so they are planning ahead....what is wrong with that? I am sure they will eventually fill them in due course... they have the ability, means and should be able....if the price is right....the bigger problem is the infrastructure, power and energy that would be required to service them all...where will that come from and at what cost? ;)

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HPCers, you must watch this video.

http://www.sbs.com.a...-s-Ghost-Cities

Yes, 14 mins but I couldn't stop watching. Thanks.

There was a good Aus vid on China a couple of years ago - they explained how people work in a small city in the south: 14 hours a day, 6 days a week, the streets resound to local communist party propaganda announcements, the workers all take holidays together, and everyone has a nice house and a nice car. But if you want to leave the city and go elsewhere, you take nothing with you because you are not the owner.

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Not this again.

Middle class and elites in China are about 100-200million tops, pish poor peasants about 1.1bn people. These pish poor peasants work in factory jobs for a few years and toil, they return and buy their homes outright rather than be debt slaves.

Compare and contrast with the UK where a huge % of the population are involved in the Ponzi HPI scheme even NINJAS, few people buy totally outright.

Heh such empty cities exist all over the place in the UK. Like Manchester, has absolutely nothing in it other than debt reliant shops, virtually no production or anytihng useful at all yet it is pretty much a desert as much as the empty cities in China.

Riiiight.

Given the wages and apartment prices stated in the film, those 8 toiling couples who share a foetid slum have got another 10 years to go before they can buy a grotty high-rise apartment. I wonder if in the meantime, the Chinese can maintain their vendor financing racket and keep their glorious empty newbuilds in an habitable state.

Edited by 50sQuiff

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Not this again.

Middle class and elites in China are about 100-200million tops, pish poor peasants about 1.1bn people. These pish poor peasants work in factory jobs for a few years and toil, they return and buy their homes outright rather than be debt slaves.

Compare and contrast with the UK where a huge % of the population are involved in the Ponzi HPI scheme even NINJAS, few people buy totally outright.

Heh such empty cities exist all over the place in the UK. Like Manchester, has absolutely nothing in it other than debt reliant shops, virtually no production or anytihng useful at all yet it is pretty much a desert as much as the empty cities in China.

:unsure:

Ghost town’: 25,000 empty homes in Greater Manchester

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Riiiight.

Given the wages and apartment prices stated in the film, those 8 toiling couples who share a foetid slum have got another 10 years to go before they can buy a grotty high-rise apartment. I wonder if in the meantime, the Chinese can maintain their vendor financing racket and keep their glorious empty newbuilds in an habitable state.

And surely if they don't keep addign to the glut each year then GDP will drop massively. Can't all this year's increase in China's GDP be accounted for by empty apartments?

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Riiiight.

Given the wages and apartment prices stated in the film, those 8 toiling couples who share a foetid slum have got another 10 years to go before they can buy a grotty high-rise apartment.

:lol:

Typical BTL thinking, i.e. you think these people have no choice.

They must buy off me or rent off me so either way I win.

The thing is why do Eastern Europeans come to the UK? They play wage arbitage. China internally this is possible even within mainland china. They work for a few years save up and you can go home whereby you can build your own home and or invest in a business of some kind. If you ever remember the 3 gorges dam, a lot of the people who lived there had done exactly this. They had started orange groves and orchards, which is why so many of them were so bitter to leave.

Obviously if your homelands are on the edge of a major city like Beijing you can't do this. But since there are a good 950million-1.1bn people who are from the countryside the majority can still do this.

Therefore the typical they MUST rent/buy my overpriced overleveraged BTL house doesn't quite work in Asia.

Hell why do you think workers in China esp factory workers will put up with the 5hit they get regularly, because there is something at the end of it... compare and contrast to the demotivated legions of employees in the UK who due to the above BTLing mean there is no pot of gold at the end of the long road.

Edited by ken_ichikawa

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The thing is why do Eastern Europeans come to the UK? They play wage arbitage. China internally this is possible even within mainland china. They work for a few years save up and you can go home whereby you can build your own home and or invest in a business of some kind. If you ever remember the 3 gorges dam, a lot of the people who lived there had done exactly this. They had started orange groves and orchards, which is why so many of them were so bitter to leave.

If these people return home to build their own homes, who buys the apartments in the ghost towns?

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Capitalism - FAIL! dry.gif

As has been remarked - all economic systems are capitalist, the only question is who controls the capital, private individuals, or a small elite through the arms of the state.

looks like the elite lose, as usual.

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I doubt they will stay empty for long. There are a lot of people in China who would love to live somewhere like that.

And they will - after the revolution. Communist party members hanging from construction cranes.

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As has been remarked - all economic systems are capitalist, the only question is who controls the capital, private individuals, or a small elite through the arms of the state.

looks like the elite lose, as usual.

As soon as I posted that, and in my eagerness to post something that looked poignant, I knew that what I was thinking in my head didn't come out right (or my interpretation of Communism vs Capitalism). What I should have posted was:

"Imitating the USA's and UK's junk consumerism and property obsessed culture in such a relatively short space of time and then failing with almost epic proportions!" - WIN!

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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