So, I'm up doing my morning read and start with the L.A. Times.....just what my mouse clicked on first this morning. And the article I read almost made me laugh out loud.
I read it and thought, nowhere does it say they should learn from us Americans! But they should. Take us as an example. Where building was out of control, and investing in real estate was ridiculously easy. Where money was super cheap and people that didn't have enough money could find it anywhere. And, when inventory dwindled and prices went thru the roof, we continued to find ways to get money dirt cheap! And, BOOM.....wait....again for emphasis..... BOOM, and Kaplewie! The bubble burst.
And, we have the worst housing market seen in a long time, a really long time.
Now, the China situation isn't exactly the same as ours. But, similar enough that I hope they do learn a little something from us. And, obviously the author of the article felt that we here in the states would find that we are not alone in some of the mistakes that were and still are being made in the housing industry.
If they don't learn quickly, they'll start seeing the same things we've been seeing for a while now......
And, it's not a pretty sight
Waiting for the end to get here. But, until it does, ask my clients what I say ... "Onward and Forward!"
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