The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: arun gera who wrote (59221)	8/6/2006 12:05:41 PM
From: GST	Read Replies (2) of 306849

The Chinese consumer is real -- there are 172 cities in China with a population over a million people. They all have shopping streets selling all manner of things and the streets are packed with shoppers. There are roughly 100 million middle class Chinese -- and that number is rapidly growing. They have little or no debt and spent the last 20 years saving 45% of what they make. They buy cars for cash and there are thousands of miles of interstate highways being completed every year.Annual car buying is still well below the 15 million number in the US, but it is on track to rival the US before long. I was in Guangzhou a few weeks ago -- if there is a city on earth with more restaurants -- packed restaurants -- then I don't know where it is. It is amazing how well people live if life is measured by time spent eating and socializing over food. Most people in China are poor. But ask yourself this: How many middle class Americans are there and how fast is this segment growing? China leads the way in terms of growth. The softening of US demand, if it ever happens, is hardly the end of the growth of global production and consumption.

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