As we know, every day, tens of hundreds of Shanghai residents get kicked out of their home with no compensation for the "new developing projects" around the city, private property was never respected. Those poor guys either have to sleep on the street or live with their relatives. Government normally force their relatives to take them in just to avoid the negative image of millions of people sleep on the street during the winter.

The only support for the so called "Shanghai Real estate market" is Expat. If your guys choose to leave, without the expat's fresh money coming in, the market will just crash at least 80%.

tens of hundreds??

Could someone ban this retard already...

Don't ban him/her. Just PIT the threads on the basis of "little or no redeeming qualities".

Just put them in a category marked 'funny'.

the problem is, its not funny.

I doubt that an expat exodus out of Shanghai would have much effect on property values. However, whatever would cause expats to leave en masse would probably kick the props out from under the local market. The expat exodus would be an effect, not the cause.

hlbb wrote:Those poor guys either have to sleep on the street or live with their relatives.

Your Mum and your sister and your ex-wife all slept with me last night.

hlbb wrote:Government normally force their relatives to take them in just to avoid the negative image of millions of people sleep on the street during the winter.

And I got your dad, two brothers and all your uncles and male cousins to re-enact Riverdance.

Work it! Work it!!

Fame costs deep and this is where you start paying, bitchezzz!!

I think I didn't understand the OP meaning. How can expats be the support of real estate market?
Expats own the 0,000000001% of shangai properties....

caso, the part you are missing is that the OP is stulifyingly ill-informed.

The ownership of real estate by expats is an extremely small percentage. Want to see what deflates the market? When all the speculators from Wenzhou do a mass sell off.

Sure its an idiotic assumption that the prices are skyrocketing and new construction is kicking people out of their homes is the fault of expats buying luxury property, but the point probably needs to be addressed, because that is the assumption of a surprising number of people.

It's surprising what people believe.

I know this sounds really rotten, but I can't wait for this housing boom to bubble and explode.

I hope there are riots and mass mobbing.

Street fighting man yo.

^Then again, maybe it will just fizzle out. I mean look at America. Tons of problems (not just in real estate) and no riots.

Yes, a Wenzhou guy owns several apartments in my building. It's the Chinese that own the property. Most expats just rent. Many Chinese have more than 10 apartments. 2 or 3 is very common.

Nothing will happen yet folks can buy food. Imho.

nongminbongren wrote:^Then again, maybe it will just fizzle out. I mean look at America. Tons of problems (not just in real estate) and no riots.

Or Japan, where prices in Ginza topped $1m/sqm in the late 80s.

Oh man, I don't know why there are talks of a crash when the full potential is yet to be realised. Compare Shanghai property prices to that of HK, Taipei, Tokyo, and Singapore (all global trade centrals) and you will find Shanghai still has a way to climb slowly. Especially since IMO, the city is improving in all aspects every year (infrastructure, culture, class, consumer spending)

FYI:
The government said housing prices will drop by 20% in the first quater of 2011. Looks like the bubble's deflating.

And yes, expats don't own much property here. Currently, they are only allowed to own 1 house which the must live in and cannot rent out if they leave.

KopyKatKiller wrote:FYI:
The government said housing prices will drop by 20% in the first quater of 2011. Looks like the bubble's deflating.

Any source for this?

^^CCTV news a week or so ago...

Similar info here:
http://english.peopledaily.com.cn/90001 ... 82225.html
http://www.whocrashedtheeconomy.com/blog/?p=1252
http://hken.ibtimes.com/articles/84396/ ... bubble.htm

jzzzzzzz wrote:

KopyKatKiller wrote:FYI:
The government said housing prices will drop by 20% in the first quater of 2011. Looks like the bubble's deflating.

Any source for this?

you actually believe the media?

^^Well no, I don't... I tend to take everything with a grain of salt... But if the government and media are right on this, it's a good thing... unless you just bought a property that is...

i hv a property and i dont believe the media as new properties in inner ring road are still sold out within a day of launch.

^ That sentiment is the only thing preventing a collapse in the Shanghai market. Cue the music . . .

Hold . . . on . . to your dreams!
I said hold . . . on . . . to your dreams!
Life's a little like chocolates
At the centre there's creams
I said hold . . . on, hold . . . on, you must hold on
To your dreams!

there is compensation, there's a local saying that residents get their income from relocation

nongminbongren wrote:^Then again, maybe it will just fizzle out. I mean look at America. Tons of problems (not just in real estate) and no riots.

Really? Americans are the same as Mainland Chinese? Who knew??

The Chinese can be pretty mob-minded at times. I think quite often all they need is a catalyst to start kicking off.

For example, look at the school killings that happened earlier this year. The first happened and then a series followed. It kind of fits perfectly with the Chinese idea of copying.
Another example of this are the suicides in Foxconn - all of them jumping off a building, quite possibly the same building.

If domestic prices continue to rise, as they are, then all it could take is one mini-riot at a wet market in Luwan and, with the use of sms etc, that situation could spread across the city of Shanghai and then on to other cities and across China within a matter of a week.

What would the govt do? Close down wet markets? They certainly couldn't police all of them (or maybe they can).

That in turn could lead to prοtests against property developments and high rises with only 25% occupancy, but 100% ownership.

This country is a powder keg and it could blow up easily. Like that guy said years and years ago - stir slowly.

Gay_Chevara wrote:Another example of this are the suicides in Foxconn - all of them jumping off a building, quite possibly the same building.

Not the same building, but close...

Without joking about it, we often say that the Chinese lack any individuality or creativity. This is evident in the Foxconn suicides - all the same.

In another thread, hlbb asks that America should invade China. That's ludicrous.

But what if they were to organise prοtests/mini-riots from within the country. It would not be an impossible task. All it needs is one spark of ignition. One person, in a wet market for example, who, planted by the American govt, pushes a table over and rice or oil or fish go spilling to the ground. The plant starts screaming about how dare they charge so much and how is he expected to feed his family and then others would follow suit.

Another plant on renren or baidu, saying how his school keeps raising prices for the crappy lunch and that his classmates beat up two teachers and BOOM that's all across the internet.

Sounds like a movie, right?

Gay_Chevara wrote:Without joking about it, we often say that the Chinese lack any individuality or creativity. This is evident in the Foxconn suicides - all the same.

True... This year they've all been somewhat the same. The first few was probably genuine due to whatever reason, then they turned into a spree of blackmail-jumping....