Randy (6 Aug 2010)
"Housing Bubble in China....ready to burst??"


http://finance.yahoo.com/news/China-acts-on-property-rb-2061449251.html?x=0&sec=topStories&pos=6&asset=&ccode=
 
Good Article......I've been watching this build for 6 months.  Is this the US HOUSING bubble all over again...but in China????????
 
The telling quote:
Three other banking sources said the CBRC has also instructed banks to tighten mortgage terms for third-home buyers in cities other than Beijing, Shanghai, Shenzhen and Hangzhou.
 
WHAT????   They're going to tighten terms for 3rd HOME buyers???????
 
Even the US didn't have that many 3rd home buyers.....we had enough problems with 2nd homes buyers!!!!!!!!!!!!!!!!!!!!!!!!!!!! (I know....many speculators got involved with more than just 2 homes here, too! And the banks who made them the loans paid a big price for making those loans....as did the US taxpayer....in the end, too!!  UGH!) 
 
Can a person "see" a bubble ready to burst EASIER from afar, than can be seen when you are standing IN the Bubble?? 
 
Alot of people are making the same case for GOLD.......just like home buying speculation in 2004-5 & 2006....when EVERYBODY wanted to buy more and more homes......there are so many SELLERS of Gold products and investments (many are fraudulent!!)  and EVERYBODY is talking about Gold.....they seem to want more and more.....
 
Isn't that, too......the perfect picture of a Bubble?  A Market Top?? 
 
Time will tell....about China and real estate.....as well as gold. I can see a bubble in BOTH
 
YFIC,
 
RAndy