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China Home Prices Unlikely to Drop, H.K. Builders Say (Update1)
March 18 (Bloomberg) -- China’s property prices won’t plunge this year, two of Hong Kong’s biggest developers with operations on the mainland said yesterday, as the World Bank joined economists and hedge fund managers warning of a bubble.
“China’s home prices won’t drop too much, as the government can’t allow prices to plunge because the real estate market is an important pillar of the economy,” said Henry Cheng, managing director of New World Development Co. and son of its billionaire founder Cheng Yu-tung.
Amid bubble fears, 2 Beijing land sales shatter records
Two land sales in Beijing have shattered price records and both buyers were state-owned companies, which has brought outrage and astonishment at the city’s frothy property market.
NAR: Existing-Home Sales Decreased to 4.19 million SAAR in March; Median
House Prices Increased 4.8% Year-over-Year
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Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home
Sales Decreased to 4.19 million SAAR in March
Excerpt:
*Sales Year-over-Year and ...
2 hours ago
8 comments:
Good evening. We would like to place a small text link AD on the blog. I am a weekly reader of your work and appreciate the news pieces I may have missed and get a kick out of your random humor and videos. It's a nice blog to break up the serious tone of www.nakedcapitalism.com, calculatedrisk and www.roubini.com Seeing your piece today on the China property bubble which is ready to pop reminded me that we must support people who call out the BS that the mainstream press doesn't cover.
I thought I might as well bring it up to marketing. Been a fan awhile. We can pay in gold bars should a fiat currency not work for you.
Jeffdbowman at gmail.com
TheGreatLoanBlog.com
LOL, Mark invented Halo3, think he needs your crappy trackback ad revenue????
ads,
First, the bad news. I don't place ads on my blog.
Now, the good news. I did spend some time reading your blog today though.
From March 16, 2007...
Homes aren't like stocks, they don't fall that much. Do they?
Nice chart and commentary.
GYSC,
1. I did not invent Halo3, lol.
2. "Hey, hey, hey, hey-now. Don't be mean; we don't have to be mean, cuz, remember, no matter where you go, there you are." - Buckaroo Banzai
http://www.youtube.com/watch?v=UiwbZfxIp0M
Mark,
sorry, I know, LOL down low no prob!
I once asked a girl in high school, who was so set on leaving our state (great idea!), whats the hurry to leave? She said "Things will be different, somewhere else". I said "The sun goes up, the sun goes down everywhere, what you do makes things different". I do not think she knew what I was talking about.
GYSC,
You just reminded me of a funny story. I was at a Game Developer conference in California. They were demonstrating a product up on the stage. If memory serves, I think it was a product to convert gaming code back and forth from the Mac to the PC.
The programmers were taking questions from the audience. One person asked, "How long does it take to run?"
The programmer said, "The sun rises, the sun sets. It's REAL slow."
The audience belly laughed.
Guess how long it took for the microphone to make it to the marketing person's hands? Hahaha!
Stag,
Guess how long it took for the microphone to make it to the marketing person's hands?
I'm guessing it took ten times as long as it took Bernanke, Geithner & Paulson to decide that they would dump Wall Street's gambling losses on the public via TARP, FRE, FNM, AIG, GMAC, GM, CIT, Bear, etc.
mab,
Reflexes of a "cheatah" they have.
Spelling pun intended. ;)
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