Posts Tagged ‘Chinese Real Estate Bubble’

Latest from the Chinese Real Estate Bubble: French Chateaux

Latest from the Chinese Real Estate Bubble: French Chateaux

Posted by Joshua M Brown, The Reformed Broker

"While the über -wealthy are splashing the cash and taking advantage of low interest rates, a recent report by the Chinese Academy of Social Sciences showed more than 80 per cent of urban Chinese cannot afford to buy homes."

The newly-wealthy plutocrats of Beijing are now embarking on that traditional mainstay of nouveau riche everywhere: the construction of McMansions.  Our favorite communist billionaires have decided on a decidedly European mode of housing, the French Chateau, as their display of wealth.

These neighborhoods full of mini-Versailles have been around since at least 2007.  What is new though is the fact that they are now being built everywhere, even next to the airport.  It should also be noted that the homes are selling out before construction begins.

Where have I heard things like that before?

From The Independent:

As the rest of the world reels from the lingering effects of the credit crunch, China is undergoing a property boom. All over the country they are building slightly alarming neo-Gothic, neo-Tudor, neo-classical piles as the communist nation’s super-rich hunger for the look of a European pad combined with the luxury of an Asian high-end villa.

At the Palais de Fortune development, houses cost up to £5.5m each. They are generally sold long before they are built to Chinese buyers, either from the mainland or from Hong Kong. Inside, the compound feels like another planet, as you pass golden golf carts with badges on the bonnet reminiscent of Rolls-Royce’s Silver Lady. The villas are an incongruous vision of European elegance amid the more typical Beijing suburban features of flat-bed tricycles and barely paved dirt roads.

"The first two phases are all sold out, and we have started working on phase three," said Tang Ming, deputy marketing director for the development.

Just for fun, take out the references to Asia or China from the article and substitute Miami or Malibu.

Source:

French luxury tells a tale of China’s haves and have-nots (The Independent)

Read Also:

Of Course Chinese Real Estate is a Bubble. Grow Up. (TRB)

 


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Phil's Favorites

The US is a whole lot richer because of trade with Europe, regardless of whether EU is friend or 'foe'

 

The US is a whole lot richer because of trade with Europe, regardless of whether EU is friend or 'foe'

Trump and Merkel: Friends, foes or frenemies? AP Photo/Pablo Martinez Monsivais

Courtesy of Greg Wright, University of California, Merced

President Donald Trump recently questioned the value of the long-standing United States-Europe alliance. When asked to identify his “biggest foe globally,” ...



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Zero Hedge

China's Yuan Is Now Plunging Faster Than During 2015's Devaluation

Courtesy of ZeroHedge. View original post here.

Another China open, another lower renminbi fix, and another 2 handle plunge in offshore Yuan...

The People’s Bank of China set its daily reference rate for the yuan (dark red line in the chart above) weaker than the psychological level of 6.7 per dollar for the first time since August 2017, ...



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Insider Scoop

10 Biggest Price Target Changes For Wednesday

Courtesy of Benzinga.

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Chart School

S&P Firms Breakout As Tech Keep The Pressure On

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Digital Currencies

Bitcoin Explodes Through Key Technical Resistance, Hits 7-Week High

Courtesy of ZeroHedge. View original post here.

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And breaking its longer-term downtrend too...

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Biotech

How summer and diet damage your DNA, and what you can do

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

How summer and diet damage your DNA, and what you can do

Bright sun and fatty foods are a bad recipe for your DNA. By Tish1/shutterstock.com

Courtesy of Adam Barsouk, University of Pittsburgh

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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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ValueWalk

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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

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Courtesy of Kimble Charting

 

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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

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OpTrader

Swing trading portfolio - week of September 11th, 2017

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

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

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Promotions

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All About Trends

Mid-Day Update

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