New Attempts to Cool Property Markets

[GDBILL]

It would seem that the powers that be have realized that the insane property market has the potential to cause havoc.

 

A little while back they came up with new rules allowing banks to refuse mortgages on those buying their third or more house and to raise the downpayments to up to 50%. Now, however, it seems that individual cities have decided to take it a step further by placing definite limits on who can buy property and how many properties they can buy.

 

http://www.chinadaily.com.cn/china/2010-04...ent_9787181.htm

 

It'll be interesting to see how it plays out.

Edited April 29, 2010 by GDBILL (see edit history)

[chilton747]

I just now talked to the wife (she is in China now) and I believe she is experiencing this now. She has a buyer for her house and she just told me that China has changed some laws and now this buyer will have to bow out because of the bank regulations?

 

Funny thing, she just asked me if I saw the news about this so I looked at CFL and there was your post Bill.

[GDBILL]

I just now talked to the wife (she is in China now) and I believe she is experiencing this now. She has a buyer for her house and she just told me that China has changed some laws and now this buyer will have to bow out because of the bank regulations?

 

Funny thing, she just asked me if I saw the news about this so I looked at CFL and there was your post Bill.

 

Tell your wife she can also find some more details on www.chinadaily.com.cn in the "Banking" section.

 

Hope it works out and she can get a good buyer.

[chilton747]

I just now talked to the wife (she is in China now) and I believe she is experiencing this now. She has a buyer for her house and she just told me that China has changed some laws and now this buyer will have to bow out because of the bank regulations?

 

Funny thing, she just asked me if I saw the news about this so I looked at CFL and there was your post Bill.

 

Tell your wife she can also find some more details on www.chinadaily.com.cn in the "Banking" section.

 

Hope it works out and she can get a good buyer.

 

Will do.....thanks!!!

[rogerluli]

We have also experienced these changes in our burg of Qionghai on Hainan. Our development was built by what my wife calls the Beijing Railway... http://www.ztjs.net.cn/Ch/Index.html As you can see they have built many developments in Beijing and they are now one of the 75 SOE's that the central government has told to stop building houses as it is not their core business...

[chilton747]

Chinadaily won't come up on my computer now. Neither will the English version of the website you gave Roger.

[rogerluli]

Chinadaily won't come up on my computer now. Neither will the English version of the website you gave Roger.

 

It won't for me either... Must be some kind of conspiracy...

[tsap seui]

The Great US Firewall?

 

 

DON!!!!! Shirley, you don't think America would do such a thing to it's people.

 

tsap seui

[GDBILL]

Chinadaily won't come up on my computer now. Neither will the English version of the website you gave Roger.

 

The glorious leaders of the people's revolution have decided that there is no reason to allow the decadent capitalistic dogs of the West to learn from the truth and wisdom published in our party hack-drivel media ... er, we mean ... the glorious revolutionary media that guides us on the path of glory and victory to build the perfect Utopia of equality and prosperity for the Chinese people.

[rogerluli]

Here's an article about the central guvmint putting the brakes on developers being able to raise money for new projects...

 

http://www.nytimes.com/2010/04/29/business....html?src=busln

 

Excuse my naivete but doesn't supply and demand work in China too... So they think by lowering availability of new developments it will somehow cause prices to fall...

[Stone]

I was talking to my friend in China. If Chinese residents are allowed to invest their excess liquidity in HK (or to buy foreign funds in China), it will not only cool property market, it will cause a collapse.

[knloregon]

But as mentioned in an earlier thread, the 'hot money' first flowed to HK----because it could. and lead the real estate boom, as it continues to do so today.

 

A true float of the yuan against all other world currencies----that is, allow the newly rich to place their capitol anywhere in the world, could very easily result in a massive out flow to foreign assets, and a serious drop of the yuan, against the world's currencies. This is not far fetched, and Timmy Geithner would get the education he sorely needs if it were to happen. Careful what you wish for Timmy......

[chilton747]

Chinadaily won't come up on my computer now. Neither will the English version of the website you gave Roger.

 

The glorious leaders of the people's revolution have decided that there is no reason to allow the decadent capitalistic dogs of the West to learn from the truth and wisdom published in our party hack-drivel media ... er, we mean ... the glorious revolutionary media that guides us on the path of glory and victory to build the perfect Utopia of equality and prosperity for the Chinese people.

 

 

Precisely!!

[tsap seui]

Good luck with the sale, cuzin' bubba.

 

So Bill, you thinkin' of leavin' Chinertucky and becomin' a snuff dippin' redneck in dear ol' Dixie? Cuzin' Chawles Bawb will be a great teacher if'n you need one...jest you lookey at his avatar...the boy has all the angles covered and he knows the ropes on proper hillbilly attire, accouterments, edicate, and lingo.

 

Next thing you know, you'll be sittin' under the tarp over yore front door, clutchin' an ice cold Pabst Blue Ribbon and enjoyin' the view of a rusted out '55 Chevy sittin' on blocks in front of yore hauled in mansion on wheels. I recommend putting Crager or Keystone mag wheels on the house....when you move yore mansion to a new location them mags are eye catchers...you tawk about appeal and "face"...EVERY face will be turned yore way when you tow that mansion to another trailer park.

 

Do you think you will change yore name from GDBILL on Candle? How about HILLBILL-Y or perhaps, BILLHILLY.....you ol' sharp tongue tawkin' Redneck, I can jest see yore posts now.

 

tsap seui

[GDBILL]

Good luck with the sale, cuzin' bubba.

 

So Bill, you thinkin' of leavin' Chinertucky and becomin' a snuff dippin' redneck in dear ol' Dixie? Cuzin' Chawles Bawb will be a great teacher if'n you need one...jest you lookey at his avatar...the boy has all the angles covered and he knows the ropes on proper hillbilly attire, accouterments, edicate, and lingo.

 

Next thing you know, you'll be sittin' under the tarp over yore front door, clutchin' an ice cold Pabst Blue Ribbon and enjoyin' the view of a rusted out '55 Chevy sittin' on blocks in front of yore hauled in mansion on wheels. I recommend putting Crager or Keystone mag wheels on the house....when you move yore mansion to a new location them mags are eye catchers...you tawk about appeal and "face"...EVERY face will be turned yore way when you tow that mansion to another trailer park.

 

Do you think you will change yore name from GDBILL on Candle? How about HILLBILL-Y or perhaps, BILLHILLY.....you ol' sharp tongue tawkin' Redneck, I can jest see yore posts now.

 

tsap seui

 

I ain't sure about the snuff and I don't really like Pabst, but nuttin wrong with buying a little shine from Cuzin' Chawles and playin some checkers.

 

I think I'll stick with GDBill. At one point GD was for Guang Dong, but more and more folks be tellin me it means Gawd Damned Bill.