64 Million vacant apartments in China!!!!!

Quote from achilles28:

You don't get me. I'm asking how easy it is for a US Citizen to buy US Dollars in China, with Chinese Yuan?

For example, say a US businessman owns a factory in China. He deposits 10 million Yuan into a Chinese Bank in Shanghai. Next, the American businessman wants to buy US Dollars with that 10 million Yuan and transfer that money to Citibank, in America. How difficult is that?
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i can answer your question, since i m a chinese native living in HangZhou right now..

oh, maybe partly, cz i m not so sure about the polices for US. citizens.

but as a chinese citizen, every one can buy up to 50,000 UD dollars per year.
its based on your ID certificate number. so , if you have relatives who dont need to buy US dollar, most of us do have, for example grandpa grandma uncles aunts who live in the country as farmers or those not so rich workers who dont have the money or the desires to buy US dollars, you can borrow their ID cards ,and buy 50,000 USD per year every one.
 
Quote from OddTrader:


One interesting twist to the Chinese housing market is that all properties are leasehold. [/b]The residential land leases from the government are 70 years in length. As is customary with leasehold properties, improvements must be removed by the end of the lease. This creates interesting repercussions for the Chinese housing market. What happens to resale value after a few decades? Will family heirs have considerably diminished hereditary rights to housing? What resale values are possible for older homes nearing the end of their 70-year leases? It will be interesting to watch this grand housing experiment.
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This is a non-issue, it's on paper only. They will just renew the lease for another 70 years once it's due and increase your property tax by a tiny amount.

You have to keep in mind china is not like usa, the people do not respect the rule of law. Nevermind trying to remove people from their properties they purchased because the land lease is due, just trying to increase the property tax/condo fees by <$100 a year causes mass riot and protests.

I remember once my friend was driving in shanghai and made an illegal turn, got pulled over, the cop handed him a ticket, he looked at it and said "no that's too much" then handed the ticket back to the cop, and get this the cop said "ok so how much you think is fair?" he ended up getting a 50% discount LOL...

People over there were amazed how when lehman collapsed, all the employees who lost a lot of their money/job, simply walked away without any protest/riots. If this happened over there, the government must step in to compensate the employees, otherwise you have riots and protests for weeks. I keep telling them it's the usa, it's a society ruled by law :p
 
Quote from newguy05:


You have to keep in mind china is not like usa, the people do not respect the rule of law. Nevermind trying to remove people from their properties they purchased because the land lease is due, just trying to increase the property tax/condo fees by <$100 causes mass riot and protests.
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How is that? Aren't the laws fairly draconian in China? Death penalty for narcotics, fraud etc?
 
Quote from achilles28:

How is that? Aren't the laws fairly draconian in China? Death penalty for narcotics, fraud etc?
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yeah you going to shoot all the grandmas/grandpas sitting in front of their house crying? this law is only in place so government can have a reason to increase property tax a bit without major protest. They can say oh the land lease is due, the new lease will have a slightly higher tax...

china cracks down ruthlessly if you even mention the word overthrow/revolution, and also on other crimes like guns/drugs/official corruption as you mentioned. Otherwise the government is always running scared of people protesting, they always give in. Remember the world trade expo in shanghai? they had to level a small city to build it, and tens of thousands people who lived in those old ghettos instantly made 6-7 figures.

Why risk unrest when you can just pay?
 
Each of those 64 million apartments will need a television or some type of furniture. I think the idea of population centers is great. The prices could be dropped to make them more affordable but other than that I think the population centers for a growing youth base is a brilliant idea followed by a rise in economic prosperity.

We could learn a thing or two. Build , train and employ the masses and have better ghettos and better upscale neighbors. We are only as good as our worst area. Every where in the world has a red light district.

China is ready to have our lunch breakfast and dinner. I think thats a new market for netflix. Whats the investment play here?
 
Quote from myoffices:



China is ready to have our lunch breakfast and dinner. I think thats a new market for netflix. Whats the investment play here?
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For you? Lotto tickets.

Just when I think you can't top your moronic ramblings.... you prove me wrong.
 
Quote from newguy05:

This is just a blip, as you said columbus oh..
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You're missing it. The point is the artificial GDP. Their model is shit. To build a middle class will require wages to quadruple, yet they will still lack the funds to buy those decaying condos. The shit was built with substandard materials and many of those units will need to be imploded.

They are props.

I hear all the anecdotes about the entire family wiping their ass with their hands to save money to buy that condo, but you can't fit 11 people in an 800sf unit. That's all it is, anecdotes.

They will lose any competitive advantage when they drop the peg and wages invariably rise. 800MM unskilled workers. As a comparison; India's per capita GDP is $3,700. China is one huge crowded trade.
 
Quote from atticus:

For you? Lotto tickets.

Just when I think you can't top your moronic ramblings.... you prove me wrong.
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Lets place your track record against mine.
I trade equities and seek the trade in everything I do. When I ramble people and institutions listen. What about you? I don't blow smoke I wait for A Holes like you to BLOW ME.

WHATS THE TRADE- A HOLE ------WHERE IS THE OPPORTUNITY. WE ARE HERE TO TRADE AND ANYONE THAT HAS FOLLOWED MY POSTS KNOW THAT I AM ALWAYS FOCUSED ON THE TRADE.

WHEN IM WRONG IM WRONG- BUT YOU SIR ARE AN IMBECILE - A WISE MAN KNOWS HE IS MERELY A FOOL WHILE A FOOL BELIEVES HE IS WISE.
 
Quote from myoffices:

Lets place your track record against mine.
I trade equities and seek the trade in everything I do. When I ramble people and institutions listen. What about you? I don't blow smoke I wait for A Holes like you to BLOW ME.

WHATS THE TRADE- A HOLE ------WHERE IS THE OPPORTUNITY. WE ARE HERE TO TRADE AND ANYONE THAT HAS FOLLOWED MY POSTS KNOW THAT I AM ALWAYS FOCUSED ON THE TRADE.

WHEN IM WRONG IM WRONG- BUT YOU SIR ARE AN IMBECILE - A WISE MAN KNOWS HE IS MERELY A FOOL WHILE A FOOL BELIEVES HE IS WISE.
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Nice shirt.

t7zfhi.jpg
 
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