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

To: regli who wrote (28393)	4/25/2005 10:27:13 AM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

No, it won't happen in the US since the gov. does not allow it to<g>. I guess too much US economy is hanging on the housing price, while not much hanging on the housing price in China. 80%+ flippers in Shanghai are people/foreigners from overseas, and an additional 15% from other provinces in China. Some overseas purchasing groups bought apartments in hundreds. The money they made is NOT being injected in local economy. And the local people suffer from this a lot. Next shoe needs to drop is the office building price in Shanghai. Although that may be hard since many of their "investors" are international financial groups, like GS, Citi group, JP Morgan.... I guess only very heavy tax can curb them<g>