Realistbear Posted August 6, 2008 Share Posted August 6, 2008 http://uk.biz.yahoo.com/04082008/323/beiji...ing-report.html Monday August 4, 01:19 AM Beijing property market 'basically stable,' supply rising - report | | | BEIJING (XFN-ASIA) - Beijing property market is 'basically stable' with supply rising, the official China Securities Journal reported, citing an official from the Beijing Municipal Commission of Development and Reform. The remarks were made by deputy director Wang Haiping, who also denied reports that Beijing property prices have fallen 10-15 pct. I have always thought China would catch a very nasty cold as the world HPC takes hold. What is the current state of play with their stocks? Down 40% this year so far? http://uk.finance.yahoo.com/q/bc?s=000001.SS&d=c What's happening in NI? Reports that they are in the biggest freefall--even outpacing the US at the moment? Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted August 6, 2008 Share Posted August 6, 2008 Given that a sturdy concrete 3 bedder was going for £50k in Lhasa a couple of years ago, I'm not surprised. Still, at least you would have easy access to a good beating and jailing if you needed it. Quote Link to comment Share on other sites More sharing options...
blankster Posted August 6, 2008 Share Posted August 6, 2008 I saw a TV programme about the property market in China in which it was explained that house values behave like car values do in the west. In China a house is at its greatest value when it is new and has never been occupied, after which it depreciates. Quote Link to comment Share on other sites More sharing options...
expatowner Posted August 6, 2008 Share Posted August 6, 2008 I saw a TV programme about the property market in China in which it was explained that house values behave like car values do in the west. In China a house is at its greatest value when it is new and has never been occupied, after which it depreciates. Thats about how it works. In addition the authorities built huge new estates to move people into as they needed lots of room to build the olympic venues and clear the slums out of the city centre. Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted August 6, 2008 Share Posted August 6, 2008 Thats about how it works.In addition the authorities built huge new estates to move people into as they needed lots of room to build the olympic venues and clear the slums out of the city centre. There's no money in poor people who develop their own parallel economy. Quote Link to comment Share on other sites More sharing options...
yawnIHateSundays Posted August 6, 2008 Share Posted August 6, 2008 I saw a TV programme about the property market in China in which it was explained that house values behave like car values do in the west. In China a house is at its greatest value when it is new and has never been occupied, after which it depreciates. I heard this when I was in Taiwan last year, although the impression I got was that this was more for places in the country, while city centre prices were driven up by lack of land. Quote Link to comment Share on other sites More sharing options...
expatowner Posted August 6, 2008 Share Posted August 6, 2008 There's no money in poor people who develop their own parallel economy. Its a hard concept for those born in the west to grasp but in reality China is now making a middle class for the first time ever. Where they have been busy for 20 or 30 years making tat for everyone in the world they did so with peasants. As America / europe goes into recession the Chinese authorities are turning their economy to serve their own people. There are whole generations of people that used to live like peasants in fields moving to cities, buying houses, cars, TV's washing machines etc all for the first time. Quote Link to comment Share on other sites More sharing options...
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