Posts Tagged ‘Beijing Real Estate Association’

Beijing Real Estate Association Admits There’s A ‘Big Bubble’…

Beijing Real Estate Association Admits There’s A ‘Big Bubble’, Supports New Measure To Ban Home Buying

beijing, clusterstock photo Courtesy of Vincent Fernando at Clusterstock 

Beijing on Friday announced a ban on families buying more than one home, in addition to other measures aimed at cooling the city’s hot property market.

China Daily:

As of Friday, "one family can only buy one new apartment in the city for the time being," the municipal government said in a statement. The government also ordered the implementation of central government policies that ban mortgages for purchases of a third or third-plus home.

It also instigated a central government ban on mortgages to non-local residents who cannot provide more than one year of tax returns or proof of social security payments in Beijing. The statement called for "resolutely curbing unreasonable housing demand." It ordered the implementation of measures earlier unveiled by the State Council on second-home purchases.

One of these days, property market tightening measures are going to hit the market hard. It’s fat chance that these regulatory efforts can perfectly balance out the market so that prices simply stop rising and all is calm.

The latest measures, more harsh than those released by the State Council, are aimed clearly at curbing speculation and promoting healthy and stable development of the property sector, Chen Zhi, deputy secretary-general of Beijing Real Estate Association, told Xinhua.

Speculation is the main reason behind high home prices in Beijing, Chen said.

"There exists a rather big bubble in the city’s real estate market. Housing has become more unaffordable for many," he added.

So even the Beijing real estate association is worrying about a bubble. At least give them some credit here. Did America’s National Association of Realtors (NAR) ever caution that the U.S. housing market has a ‘big bubble’? If they did, we don’t recall it.

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See also:  Beijing city limits home-buyers to one new apartment: Media

In The Economic Times

BEIJING: The city of Beijing has issued rules limiting families to one new apartment purchase as authorities try to rein in rampant property speculation and soaring prices, state media reported Friday.  More here.>>


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Phil's Favorites

The Fed Has Created the Big Lie for Congress on its Repo Loans while the New York Fed Blocks Freedom of Information Requests

Courtesy of Pam Martens

By Pam Martens and Russ Martens: November 14, 2019 ~

Yesterday Federal Reserve Chairman Jerome Powell testified before the Joint Economic Committee of Congress. Only one Congressman, Kenny Marchant (R-TX), had the courage to ask Powell about the Fed’s intervention in the repo loan market beginning on September 17. Since that time the Fed has been pumping hundreds of billions of dollars each week (...



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Zero Hedge

"I'll Die For Hong Kong": Students Transform Campuses Into Armories As Protests Rage For 4th Straight Day

Courtesy of ZeroHedge View original post here.

The situation in Hong Kong went from bad to worse on Thursday, as the unprecedented weekday protests - a violation of the tacit agreement between the pro-democracy movement and the business community not to disrupt weekday commerce -continued for a fourth day on Thursday.

After a squad of HK police officers earlier this week raided the campus of the Chinese University of Hong Kong, but purportedly found nothing, protesters accused them of unjustly harassing students, many of whom are simply trying to get through the semes...



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Insider Scoop

What Wall Street Thinks Of Google Cache

Courtesy of Benzinga

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The Technical Traders

Great Cycles Article PG 9 in TradersWorld Mag - Free

Courtesy of Technical Traders

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Is Bitcoin a Macro Asset?

 

Is Bitcoin a Macro Asset?

Courtesy of 

As part of Coindesk’s popup podcast series centered around today’s Invest conference, I answered a few questions for Nolan Bauerly about Bitcoin from a wealth management perspective. I decided in December of 2017 that investing directly into crypto currencies was unnecessary and not a good use of a portfolio’s allocation slots. I remain in this posture today but I am openminded about how this may change in the future.

You can listen to this short exchange below:

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Kimble Charting Solutions

Silver Testing This Support For The First Time In 8-Years!

Courtesy of Chris Kimble

Its been a good while since Silver bulls could say that it is testing support. Well, this week that can be said! Will this support test hold? Silver Bulls sure hope so!

This chart looks at Silver Futures over the past 10-years. Silver has spent the majority of the past 8-years inside of the pink shaded falling channel, as it has created lower highs and lower lows.

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Chart School

Gold Gann and Cycle Review

Courtesy of Read the Ticker

Gold has performed well, golden skies are here again. In fact it has been a straight line move, and this is typically unusual and a pause can be expected.

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Lee's Free Thinking

Today's Fed POMO TOMO FOMC Alphabet Soup Unspin

Courtesy of Lee Adler

But make no mistake, if the Fed wants money rates to stay down by another quarter, it will need to imagineer even more money.

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By my calculations that averages out to $7.4 billion per business day. That works out to a monthly pace of $155 billion or so.

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Biotech

The Big Pharma Takeover of Medical Cannabis

Reminder: We are available to chat with Members, comments are found below each post.

 

The Big Pharma Takeover of Medical Cannabis

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The Big Pharma Takeover of Medical Cannabis

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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

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In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

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