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Thread: GHOST CITY - Inside the Chinese Housing Bubble

  1. #1

    GHOST CITY - Inside the Chinese Housing Bubble

    GHOST CITY - Inside the Chinese Housing Bubble



    What could possibly go wrong?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.



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  3. #2
    For those who don't know, this is driving up prices in the US.

    Who pays well over a million dollars for a small home in Silicon Valley? It's almost always someone from China. Then the previous homeowner moves to another State with all of that cash to bid up prices there.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  4. #3
    Methinks we may have a solution to the US "homeless" problem. One way tickets to China...
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  5. #4
    Quote Originally Posted by Brian4Liberty View Post
    Methinks we may have a solution to the US "homeless" problem. One way tickets to China...
    This is way over the top. Disclosing the source of financing for the "unicorns" and their true financial condition would probably do wonders as well.

  6. #5
    Quote Originally Posted by Brian4Liberty View Post
    For those who don't know, this is driving up prices in the US.

    Who pays well over a million dollars for a small home in Silicon Valley? It's almost always someone from China. Then the previous homeowner moves to another State with all of that cash to bid up prices there.

    Silicon Valley tech bubble is larger than it was in 2000, and the end is coming http://www.ronpaulforums.com/showthr...-end-is-coming

  7. #6
    Quote Originally Posted by Brian4Liberty View Post
    For those who don't know, this is driving up prices in the US.

    Who pays well over a million dollars for a small home in Silicon Valley? It's almost always someone from China. Then the previous homeowner moves to another State with all of that cash to bid up prices there.
    I'm not quite following this. I know economies are connected, but I am not sure how that insanity over there will cause insanity here (I am sure it will, but the mechanism escapes me.) Has something like this happened in the past on a smaller level?
    ...

  8. #7
    Quote Originally Posted by timosman View Post
    Silicon Valley tech bubble is larger than it was in 2000, and the end is coming http://www.ronpaulforums.com/showthr...-end-is-coming
    Tech bubble, stock bubble, debt bubble and housing bubble all at the same time. What could go wrong?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  9. #8
    Quote Originally Posted by RJB View Post
    I'm not quite following this. I know economies are connected, but I am not sure how that insanity over there will cause insanity here (I am sure it will, but the mechanism escapes me.) Has something like this happened in the past on a smaller level?
    Yes, this happened during the last housing bubble. I met Chinese people who had bought ten homes with no money down. Some Chinese nationals were almost having contests with each other to see how many houses they could buy. When it all crashed, they just went back to China.

    The Chinese trust real estate over any other "investment". They have a lot of cash, and AFAIK, there are few restrictions on them purchasing real estate in the US. Plus recent immigrants will also have that cash and want to buy. When real estate is hot (a bubble), they buy in the US.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.



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  11. #9
    Quote Originally Posted by Brian4Liberty View Post
    Yes, this happened during the last housing bubble. I met Chinese people who had bought ten homes with no money down. Some Chinese nationals were almost having contests with each other to see how many houses they could buy. When it all crashed, they just went back to China.

    The Chinese trust real estate over any other "investment". They have a lot of cash, and AFAIK, there are few restrictions on them purchasing real estate in the US. Plus recent immigrants will also have that cash and want to buy. When real estate is hot (a bubble), they buy in the US.
    I'm familiar with the housing bubble. I wasn't aware of China's role. I had heard of the ghost cities, but didn't realize how large scale this was. Thanks for the eye opener.
    ...

  12. #10
    An update on the Chinese housing bubble.

    The new "housing" is falling apart in only a few years.


    https://www.youtube.com/watch?v=XopSDJq6w8E
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  13. #11
    Quote Originally Posted by Brian4Liberty View Post
    For those who don't know, this is driving up prices in the US.

    Who pays well over a million dollars for a small home in Silicon Valley? It's almost always someone from China. Then the previous homeowner moves to another State with all of that cash to bid up prices there.
    A person who deals with property titles recently told me that 80% of sales in Silicon Valley are to foreign nationals.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  14. #12
    bump
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    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

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