Good Morning.
Welcome to day 2 of the China Syndrome. Today is the day many wake up and realize that the little pebble flung from atop the mountain yesterday, is going to hit some more little pebbles on its way down the mountainside, that will dislodge some stones, and they too shall begin to fall and dislodge rocks...
Between now and December, we're going to see Chinese nationals with property holdings in Australia, begin to sell their Aussie homes and luxury flats on the Gold Coast as they move to sure up the standing of their families back in China. Don't worry, it isn't going to lead to a real estate apocalypse but, it will put a damper on price growth for the next 3 years.
There was an ominous sign from the heavens in Tiananmen Square earlier this month, when a black swan made an appearance after Xi had warned a few times of the black swan. Of course, Xi was warning of the unexpected event and yes, the appearance was certainly unexpected!:
https://www.newsdirectory3.com/the-black-swan-that-xi-jinping-warned-several-times-appears-in-tiananmen-square-2/
Anyway, best to avoid hasty buys today, for cash is king. There'll be better prices in the near future as Evergrande further defaults on repayments... only to default again.
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- Day 2 of China Syndrome. Aus property going to drop in 45 days...
Good Morning.Welcome to day 2 of the China Syndrome. Today is...
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