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


To: TobagoJack who wrote (113219)7/22/2010 11:07:31 AM
From: Hawkmoon7 Recommendations  Read Replies (3) | Respond to of 116555
 
You sound like you share a lot of the hubris many Americans possessed in 2005-2006, as they unlocked the appreciated value of their homes in order to "live large" on a real estate market they thought would never decline.

Don't you find it the least disturbing that people in China are cashing out "HELOCS" loans from the government sponsored banks, then turning around and loaning that money out on these Ponzi schemes that keep the Real Estate bubble inflated?

Nor do you find it disturbing the that average price of a house in China has risen to 22 times the average income of a Chinese worker/buyer?

google.com

Look what the bursting sub-prime real estate bubble has wrought in this country.. And China, which is in a worse bubble, will not suffer the same fate?

Hawk