Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (49220)	5/1/2004 1:49:28 PM
From: RealMuLan	Read Replies (1) of 74559

Jay, agree, 0.5% loan rate raise by the end of May, and then progressively higher. The apartment in Beijing has closed to a near top (>10,000 Yuan per square meter in good location), methink, mainly due to the gov. control of loan, and new regulations came out to prevent individuals/groups to cook up the price. Those who position themselves badly will get burned, although like in the US, taxpayers will pick up most of the tab<ng>. To buy an apartment in Beijing for self use is ok, don't expect a good price if for resell (Beijing has never been a good market for 2nd hand housing, unlike a lot cities in the South), but can get decent rent for rental. Systematic looting has been pretty bad in China for the last decade or so. It will get worse as more and more companies go to public offering. Those poor migrant workers work all year round in cities and a lot of them got paid only for several months, the unpaid salary amounts to a couple of trillion Yuan altogether. Jiang Zemin himself is a big "looter"<g>. The corruption problem will not be lessened much until he comes down.

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