Hong Kong E60 sub-Forum
03-16-2011, 05:25 AM
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03-16-2011, 05:47 AM
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03-16-2011, 06:01 AM
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My Ride: 2004 BMW 520i E60 in Amethyst Gray
I bet majority of those so-called millionares made their quick money from selling their property. These people now probably rent a place, move back to parents, or even live in government housing (for civil servants). With so much cash in thei hands, they are spending like no tomorrow such as watch, car, stock, or even for leisure (yeah, you live once !!) They all are hoping the property will go down again and then they can buy at low rate. Dream on !! Did you see any property go back to the 2003 SARS rate during the 2008 financial crisis ? The difference is all these property are now owned by the mainlanders and they bought the HK property with cash. So, even if there is any flucation in the economy, only those "shallow" investors need to bail out for cheap. Property price will not go down much at all. Demand is more than supply in HK and the price will not fall for much.
03-16-2011, 06:30 AM
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I bet majority of those so-called millionares made their quick money from selling their property. These people now probably rent a place, move back to parents, or even live in government housing (for civil servants). With so much cash in thei hands, they are spending like no tomorrow such as watch, car, stock, or even for leisure (yeah, you live once !!) They all are hoping the property will go down again and then they can buy at low rate. Dream on !! Did you see any property go back to the 2003 SARS rate during the 2008 financial crisis ? The difference is all these property are now owned by the mainlanders and they bought the HK property with cash. So, even if there is any flucation in the economy, only those "shallow" investors need to bail out for cheap. Property price will not go down much at all. Demand is more than supply in HK and the price will not fall for much.
I cant give anyone shit for making money from property... majority of ppl in HK are wealthy due to property.... I just give ppl shit if they live off their parents or spend mummy/daddy's money and not making it themselves!
03-16-2011, 06:52 AM
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There just needs to be an adjustment... prices are too high at the moment. I mean, $10,000 psf for a place in Tuen Mun? F**k that!!!!
I cant give anyone shit for making money from property... majority of ppl in HK are wealthy due to property.... I just give ppl shit if they live off their parents or spend mummy/daddy's money and not making it themselves!
I cant give anyone shit for making money from property... majority of ppl in HK are wealthy due to property.... I just give ppl shit if they live off their parents or spend mummy/daddy's money and not making it themselves!
I give shit to people who made money from property, but when the bad time comes they cry and complaint.
03-16-2011, 09:03 AM
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you hit the nail with the sledgehammer bro!!
right now i am staying put, i have zero debt and don't want to get into a "burrowed millionaire" status.
mainlanders - well they have slowed a bit, hope the interest rate hike cycle will move them to the UK etc,. where prices are cheap.
2 bed in Docklands is like 250,000pounds+ and near Canary wharf 300-400000, the best areas in london are cheaper than HK (cheap areas)!!!!!!
right now i am staying put, i have zero debt and don't want to get into a "burrowed millionaire" status.
mainlanders - well they have slowed a bit, hope the interest rate hike cycle will move them to the UK etc,. where prices are cheap.
2 bed in Docklands is like 250,000pounds+ and near Canary wharf 300-400000, the best areas in london are cheaper than HK (cheap areas)!!!!!!
I bet majority of those so-called millionares made their quick money from selling their property. These people now probably rent a place, move back to parents, or even live in government housing (for civil servants). With so much cash in thei hands, they are spending like no tomorrow such as watch, car, stock, or even for leisure (yeah, you live once !!) They all are hoping the property will go down again and then they can buy at low rate. Dream on !! Did you see any property go back to the 2003 SARS rate during the 2008 financial crisis ? The difference is all these property are now owned by the mainlanders and they bought the HK property with cash. So, even if there is any flucation in the economy, only those "shallow" investors need to bail out for cheap. Property price will not go down much at all. Demand is more than supply in HK and the price will not fall for much.
03-16-2011, 05:36 PM
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03-16-2011, 05:50 PM
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I bet majority of those so-called millionares made their quick money from selling their property. These people now probably rent a place, move back to parents, or even live in government housing (for civil servants). With so much cash in thei hands, they are spending like no tomorrow such as watch, car, stock, or even for leisure (yeah, you live once !!) They all are hoping the property will go down again and then they can buy at low rate. Dream on !! Did you see any property go back to the 2003 SARS rate during the 2008 financial crisis ? The difference is all these property are now owned by the mainlanders and they bought the HK property with cash. So, even if there is any flucation in the economy, only those "shallow" investors need to bail out for cheap. Property price will not go down much at all. Demand is more than supply in HK and the price will not fall for much.
dont forget there will be other big earthquake this year or next in San Francisco which is also over duel.