If this comes to pass, we are in SO much MORE trouble than we already are. Of course, we know China's economy is partially propped up by their government with artificially low currency exchange rates.

Watch out for China’s ‘freak’ economy

"Massive high-rise real estate projects have erupted across the country in recent years. Visitors tell stories of giant, empty condo buildings — “ghost” cities. Prices in the major cities have skyrocketed. And newly middle-class investors have piled in.

They’ve never seen a housing bust. They assumed it will go on forever."

Does that sound familiar? It will go on forever!

and

"Analysts at DBS Vickers Securities say developers are now slashing prices to move unsold inventory, and they see a lot more to come in the next few months.


Reuters
A laborer works at a construction site for new houses in Huaxi village, Jiangsu Province in China earlier this month.

The cuts are already so deep, says DBS Vickers, they are already provoking protests and attacks on sales offices from those who bought at earlier, higher prices!"













Licensed to SELL - Dedicated - Experienced - Honest - Than Maynard - Purcell, OK

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Than Maynard
REALTOR, CRB, Certified Short Sale agent, Certified Foreclosure Agent, Accredited REO Agent
Coldwell Banker Heart of Oklahoma Real Estate
1726 N Green Avenue, Purcell, OK 73080
CELL: (405) 990-8862
OFFICE: (405) 527-3012
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4 Comments on China Housing Bubble?

OCT
26
2011
969,627 Points 102 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Supply and demand, I guess the Chinese missed that day of economics 101. Now I guess we will see how it becomes our fault... 
12:50pm • #1
386,077 Points Outside Blog

Paul: We tried to foist capitalism on them and they took the bit in their teeth and ran with it. They will get their education very quickly.
1:48pm • #2
894,600 Points 34 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Well, we've been there too so I guess we werent' so smart either, Than.  I wonder who they thought they were building them for?
2:59pm • #3
386,077 Points Outside Blog

Toni: Absolutely correct, but we have been through it several times and each time it is a little less 'terrible'.  IMHO, anyway.

This will be their first experience with it and I believe it will be worse since the Chinese government controls the majority of the purse strings and they built a lot for show. Price increases of 13-14 times? Even the best markets in the US didn't have those types of increase. At least none that I am aware of.
4:58pm • #4


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Than Maynard Managing Broker 405-527-3012

Purcell, OK

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Coldwell Banker Heart of Oklahoma

Address: 1726 N Green Avenue, Purcell, OK, 73080

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