Asian Property Prices Are Falling "As If There's A Global Financial Crisis"

[EE_]

Asian Property Prices Are Falling "As If There's A Global Financial Crisis"
Submitted by Tyler Durden on 09/01/2014 19:00 -0400


With China's property developers slashing prices, piling on incentives, and still seeing sales slump; it is no surprise that demand from the top to the bottom across Asia is falling. As Reuters reports, even Singapore's Sentosa Cove (the man-made island resort billed as Asia's Monte Carlo) is eerily silent as the billionaires seem to be staying away with prices down over 20-30% in the past year. New mortgage business is down over 40% as "the rential can't even cover the mortgage anymore." As one analyst notes, "the tables have turned," adding rather ominously that, "The way prices have fallen, it's as if there is a global financial crisis."

China's property plunge continues...

And appears to be spreading to Singapore... (as Reuters reports)

There's an eerie silence at night in Sentosa Cove, the man-made island resort billed as Singapore's answer to Monte Carlo and the only place in the country where foreigners can buy landed property.

Dozens of houses - complete with their own private yacht berths and multiple swimming pools - sit empty while few lights are on in the apartment blocks overlooking the marina, a few kilometres away from Sentosa's giant casino.

Prices in the gated community, where Australian mining tycoons Gina Rinehart and Nathan Tinkler bought properties, fell around 20 percent in the past year as lending restrictions and taxes on foreign buyers burst a bubble in the Southeast Asian financial hub's luxury real estate market.

"Some of the earlier buyers are likely to have bought at prices 20 to 30 percent above current prices," said Christine Li, head of research at property consultancy OrangeTee.

"The rental can't even cover the mortgage for these high-end investments - they want to offload but there are no takers."

Some in the luxury property industry fear foreign buyers have gone for good.

But the problems are growing rapidly...

United Overseas Bank, Singapore's third-biggest lender, last month reported a doubling in its bad debt charges for the second quarter, saying a group of investors was struggling to service high-end property loans.

The number of residential properties being put up for sale at auction by banks after buyers defaulted on mortgages, known as mortgagee sales, quadrupled to 64 in the first half of this year from 16 in the second half of 2013, according to real estate agency Colliers.

"This is different from previous years, when owners' sales dominated auctions," said Joy Tan, head of auctions at DTZ.

"The tables have turned and we expect more mortgagee sales on the way."

As bad as it gets...

"The way prices have fallen in Sentosa, it's as if there is a global financial crisis," said Alan Cheong, head of Singapore research at property firm Savills.

And finally - summing it all up perfectly...

"Sentosa happens to be a development targeted at a time when the world was leveraging up but now that we have deleveraged, there is a much smaller pool of people who can afford it," Savills' Cheong said.

That, combined with the end of the "easy money" seen before the 2008 financial crisis, may mean the quiet on Sentosa Cove's streets is here to stay.

http://www.zerohedge.com/news/2014-09-01/asian-property-prices-are-falling-if-theres-global-financial-crisis

[General of Darkness]

Fucking slant eyed jews trying to live like rich jews.

http://www.property-report.com/wp-content/uploads/2012/03/Sentosa-Cove-Waterway-1.jpg

[EE_]

Chinee wea estaa bokka say "wea estaa ownwe go up! You buy now, be fo you get pwiced out! Twust me.

Sinceerwe,
Sum Ting Wong

[Shami-Amourae]

The Chinese don't trust banks so they put their spare money in real estate as an investment they believe will go up in value forever.


https://www.youtube.com/watch?v=uxjwhk1ktNw

[Cebu_4_2]

The Chinese don't trust banks so they put their spare money in real estate as an investment they believe will go up in value forever

They are smart enough to 'invest' which the USi does not do any more since we got our ass handed to us (2008 to date). I admire their attempts at it.

[Hypertiger]

the implosion began back in 2006...

but was invisible...what collapsed?

the 1991 new home real estate boom...the main body of generation X began to turn into adults there...line signers...

from 1991 to 2006 new home construction exponentially inflated by 11% per year in the USA for 15 years...that was the supply to the demand of the multiplier effect.

In 2006...the top pulled the plug when the seasonal spike up of summer was ending...

exponential growth = multiplier effect = explosion = inflation = setting the dominos up

exponential decay = domino effect = implosion = deflation = knocking the dominos down.

The multiplier effect began turning into the domino effect in 2006...but was invisible...until it became impossible to keep it out of sight and out of mind...when Lehman's which gradually inflated up for over 100 years out of absolute 0 or thin air to the absolute 1 point September 15, 2008...then violently deflated down from the absolute 1 point back into the absolute 0 point or thin air.

the controlled demolition of lehman's.

It was set up as a bad bank...

"A bad bank is a corporate structure created by a troubled bank to isolate illiquid and high risk securities. A bank may accumulate a large portfolio of debts or other financial instruments which unexpectedly increase in risk, making it difficult for the bank to raise capital, for example through sales of bonds. In these circumstances, the bank may wish to segregate its "good" assets from its "bad" assets through the creation of a bad bank."

"In U.S. financial slang, a bagholder is a shareholder left holding shares of worthless stocks"

"The term has also been applied as a term of derision to real estate investors."

"The word is derived by combining shareholder with the expression "left holding the bag."

Or a scapegoat.

"The symbol of Baphomet was used by the Knights Templar to represent Satan. Through the ages this symbol has been called by many different names. Among these are: The Goat of Mendes, Sabbatic Goat, The Goat of a Thousand Young, The Black Goat, The Judas Goat, and perhaps most appropriately, The Scapegoat"--The Satanic Bible by Anton LaVey, Book of Belial (earth): The Satanic Ritual, pp136

"The scapegoat was a goat that was driven off into the wilderness as part of the ceremonies of Yom Kippur, the Day of Atonement, in Judaism during the times of the Temple in Jerusalem. The rite is described in Leviticus 16. The word also refers, in modern parlance, to one who is blamed for misfortunes, often as a way of distracting attention from the real causes."

"Two very similar-appearing male goats were brought into the courtyard of the Temple in Jerusalem on Yom Kippur as part of the Holy Service of that day. The high priest cast lots for the two goats. One goat was offered as a burnt offering, as was the bull. The second goat was the scapegoat. The high priest placed his hands on the head of the goat and confessed the sins of the people of Israel. The scapegoat was led away and let go in the wilderness according to Leviticus 16:22, although the Talmud adds that it was pushed over a distant cliff."

"In modern Hebrew Azazel is used derogatorily, as in lekh la-Azazel ("go to Azazel"), as in "go to hell"."

"Azazel (Hebrew: עזאזל, Arabic: عزازل Azazil) is an enigmatic name from the Hebrew scriptures, possibly referring to a fallen angel or Satan. The word's first appearances are in Leviticus 16, when in the ritual for Yom Kippur the scapegoat is to be taken to Azazel and cast into the wilderness, but this text by itself is unclear as to the actual identity of Azazel.
The Talmud (Yoma 67b) and later commentators maintain Azazel was the name of the precipitous cliff where the goat met its end."

"The Sigil of the Baphomet: This is a pentacle form (The goats head in the circle), with two points pointing upwards, one downwards, and one to each side. This is an upturned or inversed pentacle."

6719

The scapegoat lives in the Whitehouse...Bush was the previous scapegoat...Obama is the current scapegoat.

Presidents are just nationalist slave minds installed by the globalist master minds.

The most worshipful master at the top of the absolute capitalist hierarchical food powered make work enterprise or pyramid scheme rules all the vulgar and profane slaves at the bottom of the absolute capitalist hierarchical food powered make work enterprise pyramid scheme.

The 1944 Bretton woods globalist trade system that rules all the nationalist slave zones on the planet is yield starved.

It reached maximum potential inflation/explosion/exponential growth up to the absolute 1 point in 2008...2 4 8 16 32 64...and has been in a controlled deflation/implosion/exponential decay down to the absolute 0 point since.

Like hypothermia...the deflation or cold of death is clawing it's way from the extremities eating inflation or the heat of life to power the advance of death to the beating heart or core of Breton woods...the USA.

Deflation is coming home to roost...

That is why the prices of food and fuel are rising...because the top demands the bottom to supply all that they have wholesale and then marks it up and sells it back to the bottom retail.

The difference between the wholesale cost of production and the retail cost of consumption is the yield of power that sustains the masters.

The poor unfortunate vulgar and profane slaves at the bottom of the global hierarchy in real hell living to die forever are the supply of power to the demand for power by the rich fortunate worshipful masters at the top of the global hierarchy in fake heaven dying to live forever.

If the slaves or producers of mud bricks in the mud brick pits choose to stop supplying the demand of the master or consumer of mud bricks or reach their maximum potential to supply the demand of the master or consumer of mud bricks for mud bricks.

It's game over....Even if the slaves don't go on strike...when the demand of the master for yield becomes greater than the yield the slaves can supply...It's the same as the slaves choosing to go on strike...The master can whip/tax the slaves all they wish...you can not get mud bricks from skeletons.

In the USA over the past 33 years the net consumers of yield have imploded the net producers of yield down towards the absolute 0 point of eternal death to power the explosion of the net consumers of yield up to the absolute 1 point of eternal life.

That is why yield rates have been dropping for 33 years.

Not because the FED is dropping them.

The FED is the demand for power...not the supply of power.

when a master invests 1 US dollar into a slave and demands the slave to supply 1.05 Dollars back or 5%...but the slave can only supply 1.04 dollars back or 4%.

Yield rates have to drop from 5% to 4%.

The only people that believe the lie promoted as Truth...that the FED can raise or lower yield rates...are ignorant of Truth.

I'm a supply of power.

I can choose to supply the demand for yield with...YES...Victory...Or what the lie or Satan masquerading as Truth or GOD wants.

Or

I can choose to supply the demand for yield with...NO...Defeat...Or what the lie or Satan masquerading as truth or GOD does not want.

Sorry but there is no way I will ever believe the lie you all believe is truth that you all demand I believe is Truth.

Because I'm not ignorant of Truth or GOD.

GOD is Truth and Truth is GOD.

My name is Michael and it would be silly if my name which means "Who is like GOD?" was ignorant of the answer to the question.

Who is like GOD?

is the same as 1 = ?

1 = 1 = True = GOD

1 = 0 = False = Satan

ignorance is bliss = Truth

Ignoance = bliss = Truth

0 = 1 = Truth

Negative = Positive = Truth

Is false.

Positive = Positive = Truth.

At the core of the absolute capitalist hierarchical food powered make work enterprise is the take more power than is given equation.

You all know it as the compounding interest equation.

The 0 = 1 equation

The negative = positive equation.

The Satan = GOD equation.

The death = life equation.

The cause exponential decay or death, tyranny, and misery to power the exponential growth of life, liberty, and happiness effect.

The just think/embrace positive (fantasy/lie believed to be Truth) ignore/reject (reality/Truth) religion causes you all to ignore/reject the exponential decay or negative part of the equation and embrace the exponential growth or positive part of the equation.

Over the past 33 years the yield locusts or net consumers of lifeblood have imploded the host or USA or net producer of life blood down towards the absolute 0 point of eternal death to power the explosion of the yield locusts or net consumers of lifeblood up towards the absolute 1 point of eternal life.

Sorry but the greatest enemy you currently face was created out of thin air the instant you were created out of thin air and can be found in the nearest mirror.

Because the USA sits atop the 1944 Bretton woods global trade system...As the lie or fantasy you all believe to be reality collapses from the daydream of fantasy into the nightmare of reality...It will be from the bottom to the top.

That is why you all have the privilege of looking down upon the losers lower than you dying in fits of agony in the deflation zones when they are sucked dry by the winners above to sustain their life of luxury in the inflation zone.

The shadow of the hammer is coming down to splatter all the baby seals that think they have it made in the shade on the anvil.

[Cebu_4_2]

2+4=5 so fuck this thread.

[PatColo]

They are smart enough to 'invest' which the USi does not do any more since we got our ass handed to us (2008 to date). I admire their attempts at it.

actually, at least in the SF bay area, RE prices turned the corner around the top of 2012, and are now at or approaching ~2006 highs. Demand for SF RE has been partially propped up by demand from chinese nationals, surely commie party insiders looking to stash their ill-gotten loot offshore. Not sure about prices everywhere, as the CH-nat's don't want to live just anywhere; and SF has a big base of chinese living there already, chinatown(s), CH markets, TV channels etc...

check zillow.com or Price-Shiller regional & national RE price indexes for more.

[Hypertiger]

actually, at least in the SF bay area, RE prices turned the corner around the top of 2012, and are now at or approaching ~2006 highs. Demand for SF RE has been partially propped up by demand from chinese nationals, surely commie party insiders looking to stash their ill-gotten loot offshore. Not sure about prices everywhere, as the CH-nat's don't want to live just anywhere; and SF has a big base of chinese living there already, chinatown(s), CH markets, TV channels etc...

check zillow.com or Price-Shiller regional & national RE price indexes for more.

Yes the inflation zones which are exponentially growing or in surplus are powered by the deflation zones which are exponentially decaying or in deficit.

The banks began consolidating when the new home construction boom turned into a bust in 2006...there were massive foreclosures by the banks to eliminate supply in relation to demand to support price.

as the real estate boom was blowing off...the insiders were dumping into it and taking the yield from there and buying equities and commodities...until the equity and commodities markets began to blow off...and then the insiders dumped into that and began buying bonds...and then when the equity and commodity markets began to collapse...the yield from there went into the bond markets...causing the bond prices to rise and yields to drop.

until the 2008 G20...where the nationalist puppet leaders were told to implement the greatest global economic intervention in history...so that the insiders could dump their bonds into the blow off there back into the deflated equity commodity and real estate markets to produce the 2009 bottom or bounce up to 2013...that began to turn into a collapse back down leading into 2014.

We are headed to the next collapse and are close now to the next implosion.

You all have no idea what powers the system...I do.

Slaves...and when the demand from the upper class masters and their middle class servants or net consumers of yield becomes greater than the lower class slaves or net producers of yield can supply.

It's time for the good times to go bye bye.

Yield rates have been imploded down towards absolute 0 by all of you for the past 33 years to sustain the inflation of the good times up to absolute 1

Bond is short for bondage.

slaves in bondage are the supply of yield.

but you all want to be free...or not in bondage.

well the more you invest into escaping slavery by enslaving people to support your freedom...the more the slaves cost and the less they yield.

because when you all are trying to escape slaving for a living...the supply of slaves is decreasing and the supply of servants and masters is increasing.

slaves want to become servants or masters.

servants do not want to become slaves but want to become masters.

and masters to not want to become servants or slaves

That is why you have Mexican slaves working the fields to supply the demand for food by all of you...and Chinese slaves working in factories supplying the demand for Christmas presents for your children.

To keep prices in the USA for consumer goods as low as possible so the consumers of the USA can gorge themselves on consumer goods to the maximum extent possible.

because in 1944 the USA was made the ravenous pig of the planet and everyone else the supply of slop for the pig...

We, outside of the USA, supply the US pig with slop the US pig wants...and the pig squirts out US Dollars in our faces...and this is good...because in 1944 the Bretton woods global trade agreement made the diarrhea that squirts out of the US pigs asshole...the global trade medium of exchange.

and nationalists require the global trade medium of exchange to buy things from the globalist trade system.

Of course if you do not supply the slop the US pig wants...It flips out and tries to kill you and your wife and children...sometimes...it doesn't matter if you supply what the US pig wants...it tries to kill you anyways...It obtains life liberty and happiness by causing death tyranny and misery.

Supply the demand of the US pig for life liberty and happiness...Or it will give you death tyranny and misery.

But in 2008...something bad happened...we all fed the US pig or invested slop into it...then went around to it's asshole to be sprayed in the face with glorious US dollar diarrhea.

and nothing came out...

But we need that diarrhea to spray out...In order to buy things from the global trade system that we can not produce ourselves or cheaper than we can or do not have...etc.

Like all the contracts with the globalist devil we all sign on the dotted line and agree to supply the demand of globally are denominated in US diarrhea from the US pigs ass...that is where it comes from...there is no other supply...

and if the diarrhea from the US pigs ass stops...all the contracts on the planet that demand diarrhea from the pigs ass...will be busted...

and the global trade system of the past 7 decades powered by diarrhea from the US pigs ass which has been growing exponentially for 6 decades...till 2008...then stopped...but did not recover ...will collapse to oblivion.

Is that what you all are taught in school?

Of course not...

You all would refuse to be part of such insanity...that is why reality is hidden from you all.

[chad]

do you have that all typed up, ready to go, on spread sheets ahead of time, or do you actually hit the "reply" button and type it all out each time?

[Spectrism]

Financial crisis? Never! No such thing! [sarc]

The real estate crash in 2006-2008 is a large part of what squashed the banks here. The answer was to flood the banks with government money... putting the debt on the taxpayers.

China is likely to do the same as defaults begin to load up.... but they may turn internal discontent to external enemies and war will bring internal harmony... for a short while.

[EE_]

Financial crisis? Never! No such thing! [sarc]

The real estate crash in 2006-2008 is a large part of what squashed the banks here. The answer was to flood the banks with government money... putting the debt on the taxpayers.

China is likely to do the same as defaults begin to load up.... but they may turn internal discontent to external enemies and war will bring internal harmony... for a short while.

I'm wondering if the Chinese can walk away from their mortgages like was done here in the US, or is there a debtor prison in China.
If it turns into a collapse, will the Chinese be forced to sell gold?

[Horn]

U.S. Banks have no reason to sell real estate property to sustain themselves, hence the market float.

Chinese can't choose that option.

Neither U.S. market or Chinese will survive trying to float the Chinese.

[mick silver]

time for a one world money