REAL ESTATE NEWS
The Wu Flu isn’t the only alien virus making us ill. Contagion from communist China’s property market collapse is making made U.S. property markets sick.
Fallen giant Evergrande has been called the “Leman Brothers of China,” referring to the collapse of a business that is too big to fail, yet allowed to fail anyway. Communist China is having an economic meltdown, starting with massive crash of China’s fake, ghost city real estate industry, tofu-dreg buildings that collapse or topple over, along with China’s other communist-style national ponzi schemes, long papered over by cooked books. Evergrande, Fantasia and Kaisa are the first three large losers in China’s real estate collapse.. Communist mainland China has been infecting U.S. real estate for some time. China-controlled OceanWide Plaza in Downtown Los Angeles has been too broke to pay its bills for years. The project has been on again since it began, and began sputtering down in 2016. Today, it sits half-built, and decaying amid growing weeds.
While Downtown Los Angeles real estate prices are now rising, the entire U.S. housing market is increasingly phony, propped up by inflation. The real health or lack thereof must be gauged by examining a broader spectrum of signs, such as the declining health of real estate companies a compared a few years ago. Zillow is experiencing a zombie-like sickness of its own, which some blame on the companies overzealous and backwards attempt to be an ibuyer flipper and broker in one, when the tech company could have invested in newer technology instead. While Zillow did make a mistake by investing in low tech instead of researching and integrating new high tech such as AI, deep learning, quantum computers and blockchain smart contracts, Zillows rapid blunder was greatly exacerbated by the obscured cooling of global real estate amid a new era of stagflation.
Investors Sell Off Chinese Real Estate
Business Markets Evergrande China
China Real Estate Evergrande Group
Why China’s Real Estate Crackdown is Alarming Investors
Asian shares extend losses as China worries darken sentiment
Understanding Evergrande, the Chinese Real Estate Conglomerate Nearing Collapse
Evergrande collapse could have a ‘domino effect’ on China’s property sector
Chinese Real Estate Company Could Default $300B; What It Means for World Economy
China’s Property Problems Beyond Evergrande. Real Estate Stocks Take Beating
The loft blog expects a lackluster real estate market for years to come, with continuing reliance on inflation to provide only an illusion of real growth. The good news is that January of 22 is expected to offer at least a glimmer of hope to the city of angels, with the possibly of real growth if the city focuses on cleaning up its act.
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