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Housing bubble bursts....in Shangai
Old 01-18-2006, 10:27 AM   #1
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Housing bubble bursts....in Shangai

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Re: Housing bubble bursts....in Shangai
Old 01-18-2006, 12:11 PM   #2
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Re: Housing bubble bursts....in Shangai

Note that some speculative buyers in Shanghai are suing to get their money back from the developers. They feel it is unfair that prices did not keep going through the roof. I guess they were also planning on sharing the returns with the developers.

Interesting to find that stupid people are not limited to the US only.
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Re: Housing bubble bursts....in Shangai
Old 01-18-2006, 12:25 PM   #3
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Re: Housing bubble bursts....in Shangai

Quote:
Originally Posted by bbuzzard
Interesting to find that stupid people are not limited to the US only.
As an immigrant, I can tell you that from my experience, stupidity knows no borders or cultural/ethinic barriers.
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Re: Housing bubble bursts....in Shangai
Old 01-18-2006, 06:58 PM   #4
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Re: Housing bubble bursts....in Shangai

Instead of saying people are stupid, I would shift blame to the speculators that manipulate the real estate market. They became rich at the expense of others. I know ... that it's a capitalistic society in which you have to look out for yourself.
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Re: Housing bubble bursts....in Shangai
Old 01-18-2006, 11:31 PM   #5
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Re: Housing bubble bursts....in Shangai

Quote:
Originally Posted by Spanky
Instead of saying people are stupid, I would shift blame to the speculators that manipulate the real estate market. They became rich at the expense of others. I know ... that it's a capitalistic society in which you have to look out for yourself.
Hello? The unlucky ones who lost money are speculators. Do you think they are widows snd orphans?

The price of freedom is that some people mess up. Haul* 'em off and get on with the game.*

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Re: Housing bubble bursts....in Shangai
Old 01-19-2006, 02:12 AM   #6
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Re: Housing bubble bursts....in Shangai

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On a recent frosty morning, she stood in a line herself with about 40 other buyers outside the builder's headquarters, demanding that it negotiate a deal to return their money. "This is ridiculous," Wang huffed.
Agreed ... Spanky, she is one of those speculators.

Will be interesting, and perhaps painful, to see the impact on the U.S.

Glad we have only 50% LTV on our own home ...

but this won't be good for rents.
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