Replying to Avatar Peter Alexander

Believe there’s a gamble going on at the moment. People are taking out mortgages they can’t actually afford under the expectation of rates falling hard in a year at which time they’ll look to refinance. Leverage on leverage as I see it. #dangerous.
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xiangcai 2y ago

interesting! btw how do you think of current house market of Shanghai? same kind of leverage on leverage?

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Peter Alexander 2y ago

Local Shanghai property market, as I’m sure you know, is weak. The trial mortgage easing policy down in Guangdong is interesting to watch unfold. I expect it to be rolled out nationwide prior to the Third Plenum at the latest.

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xiangcai 2y ago

whether property market strong or weak, it's a dead end for plebs-

market strong-> bubble grow -> fiat gamblers win.

market weak-> economy weak-> government stop price crush-> plebs can't afford either.