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Buy a House, Get a Free BMW! China Developers Are Getting Desperate
Bloomberg
| September 12, 2018, 10:11 PM CDT
| Emma Dong
Posted on 09/13/2018 11:18:36 PM PDT by Zhang Fei
Link only
TOPICS:
KEYWORDS: china
Buy a 1000 sq ft home near Shanghai for $450K, get a free BMW. Just like opening a savings account at a Savings and Loan and getting a toaster. Sort of.
1
posted on
09/13/2018 11:18:36 PM PDT
by
Zhang Fei
To: Zhang Fei
Seems a little gimmicky. Why not just cut the price by $40k or whatever their out-of-pocket is per car?
To: irishjuggler
What they have is an overgrowth of housing construction, with houses/condos...sitting on the market for months and years. There’s a bubble sitting there and will be an economic disaster within the next decade.
To: Zhang Fei
“...further incentive: An initial down-payment of just 5 percent is required, compared with the usual 30 percent deposit required,,,”
Losers
It’s gonna get worse for then and eventually even better for buyer’s
4
posted on
09/13/2018 11:48:55 PM PDT
by
Vendome
(I've Gotta Be Me https://youtu.be/wH-pk2vZGw2M)
To: irishjuggler
Because they can finance the incentive and mitigate out of pocket incentives
5
posted on
09/13/2018 11:50:11 PM PDT
by
Vendome
(I've Gotta Be Me https://youtu.be/wH-pk2vZGw2M)
To: Zhang Fei
1000 sq foot ? That’s practically a closet.
6
posted on
09/14/2018 12:38:24 AM PDT
by
fieldmarshaldj
("It's Slappin' Time !")
To: Zhang Fei
Anybody want to let me know where I short the Chinese bond market?
7
posted on
09/14/2018 12:42:16 AM PDT
by
Hoosier-Daddy
("Washington, DC. You will never find a more wretched hive of scum and villainy. We must be cautious")
To: fieldmarshaldj
1000 sq foot ? That’s practically a closet.In Shanghai, several districts have 33,000 people per sq km... living space is at a premium.
(Most of the densest districts in most US cities top out at about 5000/sq km. NYC has 3 small districts that are over 40,000/sq km... but nowhere else in the US comes close.)
8
posted on
09/14/2018 1:06:41 AM PDT
by
Teacher317
(We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men)
To: Zhang Fei
The big point is missing here.
Ready.
Set.
Go.
Financially mixing short term car money with long term house is a disaster. A car financed over 4 even 5 years is irresponsible. Car debt financed in a mortgage is illiteracy.
9
posted on
09/14/2018 1:46:36 AM PDT
by
TheNext
(Anonymous Source)
To: Zhang Fei
As I understand it, China has had a housing bubble for several years.
A couple of interesting videos on the subject:
10
posted on
09/14/2018 3:43:30 AM PDT
by
markomalley
(Nothing emboldens the wicked so greatly as the lack of courage on the part of the good -- Leo XIII)
To: pepsionice
Sort of like what Spain did...and the bubble went POP!
11
posted on
09/14/2018 6:58:50 AM PDT
by
Moltke
(Reasoning with a liberal is like watering a rock in the hope to grow a building.)
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