Investors are holding their breath as the world witness the gigantic China property bubble deflate. Last week all eyes are on Evergrande to see whether China’s most indebted developer will default. The company is due to pay US$83.5 million in interest on September 23 and another US$47.5 million on September 29. It is nothing but a dead cat bounce A day before the … [Read more...]
Who’s fueling the housing bubble?
Covid-19 is a man-made catastrophe spread by our ignorance, recklessness and stubbornness. The pandemic unveiled the weaknesses in our social norms and cultural practices. It also exposed the problems in government systems all over the world, particularly in healthcare, housing, finance and infrastructure. Times are tough. An unknown future is frightening. But no matter … [Read more...]
The resurrection of property prices
The past Easter holiday celebrates the resurrection of Jesus Christ from death on the third day, a critical belief in Christianity. By coincidence, the past Easter holiday also marks the resurrection of the purchase price for a private property bought in the mid-1990s by a friend of my father-in-law. I am not surprised that it takes him almost 20 years to break-even. I just … [Read more...]
The lesson of Spain’s property bubble
Looking for overseas properties? Forget about Malaysia, Hong Kong, Australia, UK, or even US. Europeans are now making their property buying trips to Spain. Fancy a posh rental apartment in Madrid? What about a vacation home in Costa del Sol? (It's the authentic sunny coast south of Spain, not the Singapore sound-alike, ok?) Why not? Prices have been slaughtered … [Read more...]