Wednesday, May 12, 2010

Chinese real-estate craziness

Reading about the property bubble going on in China would make any ex-Spanish property speculator feel inadequate.

It's gotten to the point now where even the maids are are speculating on the property market. One lovely quote:
“You should buy two,” the sharp sales girl suggested. “In three years, the price will have doubled. You could sell one and get one free.”
A recent TV drama series named "Snail House" was pulled off the air, apparently hitting a bit too close to home:
In the fictional city of Jiangzhou where they live – the show is shot in Shanghai – ever-spiraling costs and rising prices outstrip every effort by Haiping and her husband to save. The harder they try, the more they fail, and quarreling becomes common.

But Haizao, who works for a property developer, finds a solution to both of their dilemmas: She dumps her innocent boyfriend and becomes a mistress to the mayor's powerful chief of staff, the handsome and corrupt Song Siming. Soon, Haizao has cash for her elder sister's down payment – and gets her own home.
Marbella anyone?

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