Thursday, December 2, 2010

China's house prices up 34% and Foreign Money is up 48% in sector

Party on, Garth.

Home prices in China continue to climb
Housing prices in the country's 10 most expensive real estate markets rose an average of 34 per cent last month from a year earlier, it added.
How are those cooling measures working out? Can't impact what isn't regulated.

Overseas money floods Chinese property market
In the first 10 months of this year, the utilisation of foreign capital in the real estate sector jumped 48.04 per cent compared with the same period in 2009. In October the figure hit US$8.7 billion (S$11.45 billion).

Moody's predicts a 15-20% drop in prices, but still rates the sector "stable." Do recall how stunningly adept Moody's was during the U.S. bubble, rating garbage backed mortgage securities as AAA.

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