Wednesday, March 15, 2017

China Determined to Outdo the West

China Home Sales Surge 23% 

in First Two Months, 

Defying Curbs

 
So called "Ghost City" awaiting people.

Bloomberg:

China home sales remained resilient in the first two months of the year, signaling policy makers are struggling to check the booming housing market.
The value of new homes sold rose 23 percent to 912 billion yuan ($132 billion) in January and February compared to the first two months of 2016, according to National Bureau of Statistics data released Tuesday. Sales rose 17 percent in December, the last time the data was released.
The surge comes after top policy makers used this month’s National People’s Congress to reiterate a pledge to curb property speculation, and some local governments expanded home-buying restrictions.
New banking regulator Guo Shuqing has said he will pay close attention to real estate bubbles, after 45 percent of new loans in China last year went to the property sector, with most going to personal mortgages.

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 No way this ends well or remains contained. 

28 comments:

LBD said...

They should hire our ex Fed officials they know how to contain it!

Mike said...

45% of new loans going to property sector doesn't sound that horrible..I wonder what the comparable number is in the US??

Cinco-X said...

Hmmm... Isn't this in direct conflict with our America First policy?

Cinco-X said...

BTW, we survived... Still some digging out to do

Rob Dawg said...

Bank loan fractions from 2014:
https://blogs-images.forbes.com/greatspeculations/files/2014/06/loanproportions-14q1.jpg?width=960

Rob Dawg said...

Fore our snow people:
http://www.barstoolsports.com/iowa/the-fore-play-boys-go-golfing-in-nyc-in-the-middle-of-a-blizzard/

Lawyerliz said...

We lived in the houses. They don't

Lawyerliz said...

No power liss?

Mike said...

"ghost cities" may be Fake news..with 1.5 billion people to house..I doubt "excess housing" is in their top 10 problems..

Cinco-X said...

70,000 over night, down to 7,000 this morning. We weren't one of them

Cinco-X said...

+1

Mike said...

witnessing how MSM behaved during this past election cycle (and into the new year)..I don't believe a word I read from them..

Cinco-X said...

I'm with ya

Rob Dawg said...

I'm loving the cognitive dissonance from the tax return. They wanted it soooo bad because it would prove Trump was nefarious. When the content proved benign they claim that shows exactly how nefarious worse than they thought!

Mike said...

but his tax rate is 3% below the average rate that other millionaires pay!!

OMG!!!

Lawyerliz said...

The interesting part is the schedules.

All that showed was he made a lot of money and paid a lot of taxes.
Duhh.

EngineerJim said...

>I'm loving the cognitive dissonance from the tax return. They wanted it soooo bad because it would prove Trump was nefarious.

The Donald played the dipshit Democrats to a tee on this.
Wonder if the Dems will want to play again, say on the wiretapping question? LOL.

Mike said...

I don't think any of the POTUS candidates release everything (including all the schedules)..everything is summarized with personal info redacted..

sm_landlord said...

Tax returns are supposed to be private.
Just because some politician used their release as a political tactic in the past doesn't mean that it should somehow become a requirement.

LBD said...

Lets get serious, did anybody see his birth certificate or was it a photo shop copy like O's? :)

Rob Dawg said...

Trump's birth certificate ran to extra pages because his footie prints were soooo yuge.

Rob Dawg said...

As a reminder. It would be insane for Trump to release any returns from recent years if the IRS has not absolutely closed out any potential actions.

Lawyerliz said...

Hahahaha

EngineerJim said...

>returns from recent years

Probably the Trump can string out the releases over that next 8 years.
Keep the story going for Rachel's "career".

Rob Dawg said...

Mud filled really stepped in it hanging up and busting bearly for calling Maddox a dyke. They don't know she has been calling herself that for years.

sm_landlord said...

Signs of the times?

Just got an announcement from a local retailer in one of SM's expensive shopping districts: They're having a store closing (website launching) party, going fully virtual.

EngineerJim said...

>They don't know she has been calling herself that for years.

Yeah, but that's like Blacks using the n-word about each other, but Whites can't use it.

It's a Catch 22 situation, the best there is.

Rob Dawg said...

It's a Catch 22 situation, the best there is.

I use the term "asymmetrical freedoms."