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China Evergrande Property prices slashed 25%


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27 minutes ago, crazypabs said:

So this will happen again:
https://www.scmp.com/news/china/society/article/2168025/public-anger-china-spreading-property-prices-drop

Its hard not to feel contempt for such childish adults.

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On 18/02/2020 at 05:14, Wayward said:

HPI inevitably has a destabilising impact on society.

Welding people inside their house to die probably has a bit of a more destabilising impact.

Who'd want to buy a place in China after this mess?

Edited by MarkG
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This is a big deal in China as many flats are bought by families speculating on capital appreciation and leaving them empty (bad mojo to have someone live in there). Imagine being told that your nest egg has just dropped 25% in value. What if that were the cash in your bank?

This also explains some of the lights-off flats in London. If sold, they are owed by Chinese or Singaporean "investors" who bought into the story that they'd be worth 3x within a decade. 

 

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3 hours ago, MarkG said:

Welding people inside their house to die probably has a bit of a more destabilising impact.

Who'd want to buy a place in China after this mess?

I think, in the lockdown cities it would be particularly hard to sell any property right now.

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5 hours ago, rollover said:

I think, in the lockdown cities it would be particularly hard to sell any property right now.

Cheap, though. Good time to buy when there are dead bodies in the streets.

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China doesn't attract overseas buyers.

Instead Chinese themselves prefer to buy in London and other overseas cities.

London and UK have international brand and a stable democracy which attracts investors.

Highly unlikely such a drop will happen in UK.

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  • 417 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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