Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: RealMuLan who wrote (21185)	1/12/2005 10:58:31 PM
From: TobagoJack	Read Replies (1) of 116555

Spoke to some Shanghai developers by proxy, and it appears that they, as a group, have been working in collusion with the banks and willing farmers in need of pocket money, to use farmers' ID cards and loose banking system run by willing bankers also in need of pocket money, and get loans to buy own real estate in farmers' names. This game will obviously end, and probably sooner rather than later, and the Governmental authorities at all levels are now aware of the problem and the impending break. All alarmed enough. Heads will roll. Banks will lose. Real estate bubble will go pop. 60% vacancy on new construction may stay for a while as transaction volume collapse further. No particular problems in secondary market, since mortgage on those are not available to the vast majority. Chugs, Jay

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next