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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (26827)	1/9/2006 1:30:05 AM
From: Lazarus_Long	Respond to of 57684

Although the city's 20 million residents represent less than 2% of China's population of 1.3 billion, Xie says, Shanghai accounts for an astounding 20% of the country's property value. About 1 million homes in Shanghai alone — about half the number of housing starts for the entire United States in 2004 — are under construction. WOW!!!!! "Ordinary people had no option but to follow the trend," Zhang said. "Worrying that prices would be even more unaffordable tomorrow, many of them borrowed from relatives and banks to buy as soon as possible." Yep. THat's how you make a bubble, isn't it? "BUY NOW! IT'LL COST MORE TOMORROW!!!" Seen it several times in Silicon Valley. And that's essentially just what was being said in the '90s stock bubble, isn't it? "Buy the dips. It'll come back and go higher." They never learn.