Tuesday, February 23, 2010
“China is Dubai times a thousand”
Fears for China economy as property goes sky high
And back in Hong Kong, the government says it is prepared to adjust land policies if necessary. "Hong Kong property buyers have been in a prolonged low-interest-rate environment, and now they're behaving like drunken drivers on the road - they don't think about consequences," says Nicole Wong, a property analyst.
Posted by the number cruncher @ 09:09 PM (1223 views)
10 thoughts on ““China is Dubai times a thousand””
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paul says:
Funny how everyone else in the world thinks sky high property prices are a bad thing apart from the UK’s central bank and government.
Lock And Load says:
I fear Nicole Wong is erm……Wight (right)
fallingbuzzard says:
What poisons China, investment in unproductive assets, is another country’s treatment plan. I think the patient needs more mercury!
jack c says:
China is the biggest bubble since tech, says AA-rated star manager
By Drazen Jorgic | 10:39:41 | 23 February 2010
China will be the investment disappointment of the decade, on a par with the tech bubble of the 1990s, according to Cazenove Capital’s AA-rated fund manager Chris Rice .
Full article @ http://www.citywire.co.uk/selector/-/news/fund-manager-interviews/content.aspx?ID=383937
braindeed says:
This could be the one. Holding zillions of $;s, ….plenty of room for a major fault line to crack. – how many tins of beans can you get in a double garage?
fallingbuzzard says:
Fire arms certificates could be more useful than beans?
str 2007 says:
fallingbuzzard
If you’ve got a certificate they know where to come and get the guns.
Just joking.
fallingbuzzard says:
Thats why I rent!
mountain goat says:
Paul @1 well said lol
Uncle Tom says:
Western commentators are either delightfully dumb (or hell-bent on finding reasons for apocalypse) when it comes to analysing China.
Chinese house price stats reflect the sale price of new builds. As these are becoming vastly better appointed, year by year, it is not surprising that the average price has been rising quite sharply.
One needs to remember that the Chinese regard a second-hand house in much the ame way we view a second hand car – something that is of very little value, when compared to the new product.
There is a small element of speculation, and the Chinese govt has already clamped down to stop it growing.
China is not Dubai squared!