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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 455.37+3.1%Feb 6 4:00 PM EST
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To: Snowshoe who wrote (82118)10/25/2011 6:47:50 PM
From: Hawkmoon3 Recommendations  Read Replies (1) of 220083
 
Seeing later buyers get steep discounts has galled many who bought earlier but have not yet moved in, since many apartments are sold before they are built.

I seem to recall having a discussion about this with TJ many months ago.

The fact that TJ asserted that real estate, including unoccupied homes, apartments, and such are treated by Chinese as "savings", in defense of high RE prices, was something I found appalling..

And if developers are now offering 40% discounts to new buyers, this equates to CURRENT Chinese owners taking a significant hair cut on their savings.

RE has to have an ROI, either by virtue of avoiding paying out rent by the owner, or collecting rent from others. Having them just sit empty in hopes that they will hold their value (especially when the homeowner cannot actually own the underlying land) is ridiculous.

Hawk
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