Tuesday, February 20, 2018

Brutal Monday Called for In Chinese Real Estate and Stocks

April 17, 2010 by  
Filed under Inflation Hedge Strategies, Move

Bill Bishop says. “Expect Monday (April 19, 2010) to be a brutal day for real estate-related stocks in the Chinese and Hong Kong Stock markets.

In a guest article which appeared on businessinsider.com (April 17, 2010) , Bishop discusses China’s State Council’s  Document Number 10, which is intended to cool down property markets.

According to Bishop, one of the rules in Document Number 10 that will have the most chilling effect on the Chinese real estate market is that non-residents of a city can no longer obtain mortgages to buy property in that city unless they can prove that they have paid taxes in that city for at least one year.

Less than two weeks ago we reported that Jim Rogers was calling Hong Kong Real Estate Nuts.

Maybe what we’re seeing is an attempt by Chinese officials to actually bring some sanity back to their real estate markets

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