Real Estate: Something Wicked This Way Comes
From Liu Mingkang/CBRC:
China Banking Regulatory Commission chairman Liu Mingkang highlighted the importance of watching out for financial risks in the real estate market. Liu said at a press conference that the will to repay mortgages depends on whether one is investing, speculating, or buying for personal use.
No news here, but the fact that he is saying this is public . . . that can’t be a good sign.
Full article in Chinese here.
man… it is ugly.
In Shanghai, there are a lot of dead sites right now. empty buildings are growing in number..
… and the last few days i have been in BJ, it is apparent that BJ’s market is worse… and expected to get worse as 1.5 million sq ft come online in next 12 months.
will be a good time to buy at year end.
R