Friday, April 16, 2010

Yes, Virginia, there is a housing bubble

...in China.
And on Wednesday, the government said housing prices had risen 11.7 percent in March alone, the fastest rise ever recorded.
Posted by at 5:30 AM

9 comments:

  1. AnonymousApril 16, 2010 11:29 PM

    Yeah, houses in China went up from a single US dollar, to a dollar ten cents!

    ReplyDelete
  2. AnonymousApril 17, 2010 8:29 AM

    The difference between China and the US is that it's central bank is owned and controlled by the government. No IMF-style shenanigans over there -- no manipulation for private profit at the expense of taxpayers who are in the dark because you were an complete ass and changed their high school textbooks, put mind-numbing fluoride in their water, and purchased all the news on TV.

    They may have a bubble but it won't be intentionally burst in such a way so that some asshole private central banker can steal the people's retirements and housing equity.

    ReplyDelete
  3. AnonymousApril 19, 2010 7:23 PM

    Risen 11.7 percent in March alone huh? I guess that is just about the same percentage rise in average income for the month of March too.

    I only wish my income had went up 500% over the past 10 years, like the home prices have.

    ReplyDelete
  4. AnonymousApril 20, 2010 8:49 AM

    Anon 8:29--'cause China is characterized by the sort of open and honest markets as well as fearless, thorough, and unbribably regulators that would prevent a bubble? When the poo hits the fan, it will be far, far worse there than here. Although they ARE likely to pick a few middle level crooksters out and execute 'em. That might make people FEEL better, but it's unlikely to change the eventual outcome. --Jim A.

    ReplyDelete
  5. AnonymousApril 20, 2010 10:03 AM

    Its funny to point out home prices rising and then ignoring the huge economic boom overall they are having. Quality of life in China has gone from living in a mud and straw hut with your pigs and water buffalo, to driving a BMW and eating steak for dinner every night.

    ReplyDelete
  6. AnonymousApril 20, 2010 5:44 PM

    As if China is any more corrupt than the US or EU. What's corrupt are the financiers who lend these countries money, and therefore run these countries. China is not run by private, for-profit financiers. It is run by individuals who run something akin to a theocracy, and their religion is Maoism. Big difference from greed. These people already have power and will do anything not to lose that. The financiers want that level of power and would love to see China drop the ball, and will use their Western media monopoly to influence what happens in China.

    ReplyDelete
  7. AnonymousApril 20, 2010 10:12 PM

    mud and straw hut with your pigs and water buffalo, to driving a BMW and eating steak for dinner every night.

    Well... I didn't see straw huts and/or BMWs and Steakhouses when I recently visited

    ReplyDelete
  8. AnonymousApril 22, 2010 8:21 AM

    "Well... I didn't see straw huts and/or BMWs and Steakhouses when I recently visited"

    Yeah most tourists dont know whats really going on.

    ReplyDelete
  9. AnonymousApril 22, 2010 8:38 AM

    No straw huts or water buffalo huh?
    http://farm4.static.flickr.com/3146/2556254474_90f683270d.jpg

    http://cache.virtualtourist.com/1/1470740-Old_Chinese_hut-Arrowtown.jpg

    http://lh5.ggpht.com/roseliabubakar/R3EKd3g4J-I/AAAAAAAAAek/ZSVQaddDo3k/s400/Chinese-farm-house03.jpg

    http://nyiwin.files.wordpress.com/2010/02/img_19741.jpg

    http://dontai.com/wp/wp-content/uploads/2009/03/farmer-1.jpg

    http://www.spraguephoto.com/stock/images/7000_7499/7088%20Transport%20China%20Man%20and%20women%20moving%20a%20cart%20of%20farm%20produce%20Xinghe%20village%20Shanxi%20Xian.jpg


    No BMW either???
    http://www.bloomberg.com/apps/news?pid=20601100&sid=aqgG2iYaOkaA

    You couldnt find a steakhouse in China? Perhaps google for one?
    http://restaurants.mychinastart.com/

    ReplyDelete

Subscribe to: Post Comments (Atom)