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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: BubbaFred who wrote (13923)	10/23/2004 11:02:36 PM
From: RealMuLan	Respond to of 116555

>>I met a fellow from New York who just sold one of his two apartments for double the price he bought five years ago. He used the proceeds to buy a larger 185 sq.m. apartment that's under construction. He plans to buy two more in the next year.<< Yeah, the high housing price in Shanghai is partially cause by the people like him. Although this will be like playing stock market, he will not win like that every time. >>And many young females have dreams of meeting that special guys - rich guys. They have and live with boyfriends but don't want to get married because they are waiting for that Mr. Rich.<< some Shanghainese girl are like that<g> As for savings, everyone who has a job is required to save certain percentage of their pay for buying house (sort of like the pay roll tax here, only it is saved in a separate account). I do not remember the exact percentage, something like 10% or so.