Hello Ray, I am in fact shopping tomorrow for real estate in nearby neighborhood, in stanley en.wikipedia.org , in the first to the left of the four buildings in this pic images.google.com .
I am doing so now that the village future is more discernable, and I can see the place will be irresistable for somebody to rent at a bargain of USD 3.89/sqft-month, yielding 4%, and that inflation will shortly zoom and vroom the rental yield on cost basis to 8 and then 12% soon enough.
The newly built (not in old photo)
The newly relocated historic / heritage pier is done and done well, leading into another historic / heritage antique building full of restaurants featuring lots of wood, ceiling fans, and extra wide/deep terrace for in/outdoor feeding.
Nearby enough, Ocean Park, now to be expanded with three top end hotels, just reported almost 5 million visitors for the 12 months.
Even better, the subway is planned to reach within 15-20 min drive from the sleepy village.
And yes, Star Bucks and Pacific Coffee shops are just around the corner.
<<mortgages>> are plentiful, real interest rate is negative, and 1.3 billion northern neighbors would love to move in, and their RMB Yuan is good, in fact better than my USD-proxy HKD.
The place can be used for a office/home combo, a retirement home, or a love nest, and the ground floor is chokablock with funky eateries serving oysters, goose liver, and good drinks.
I am bullish on real estate, as long as it is not in a place where there is endless land on which to build.
As to the USA real estate market, I think it is stuffed / rogered / done for, for the next ten years when measured against gold and almost all non-USD regimes, except perhaps Zimbabwe dollars.
The coming interest rate and property tax rate reset will be much worse than what has already transpired. The good news? The officialdom already decided what they will do to paper over the mess that will get messier.
Witness that Citi and BoA has apparently organized a fund of funds that will in effect be used to buy up their own junk, mark it to good market price, resolution trust style, which actually is bullish for HK real estate, with its currency now tagged to USD, and borrowings tagged to same, whilst its future is very definitely pinned to the RMB and leveraged to what Dawn of TeoTwawKi must be.
Chugs, TJ |
