This is what I was saying a while back on this thread..
The comments said in here that Chinese don't care about the price they pay is just silly and everyone says that in a rising market.The fact is the majority Chinese buying these units are average people just caught up in the property fomo and because everyone else is doing it.
If things get tough or start dropping people many people want out because it's emotionally difficult to feel you are going backwards on an investment.Talking about it is very different to when it actually happens and the heart sinks and getting out of bed for the daily grind is that little bit harder.
Selling and ridding of a huge loan can be very liberating I guess like a monkey off your back.
No different to the share market and the way trading often works on emotion.
Property is just more cumbersome and luckily not so easy to make rash decisions buying and selling on a whim.
Except maybe if you get too emotional at auction and pay too much.
