I couldn't help noticing this contract in an email from the FT this morning:
The idea that economies can cool whilst house prices rise may be strange to some.
I suspect it's not just a Chinese conundrum.
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Apparently Chinese are buying multiple properties that are then left empty-they have no social value except as a store of value to the owner -does it get sicker than that?
They do the same, well overseas buyers, in London.
That’s why rent is so high in London.
http://www.theguardian.com/uk-news/davehillblog/2013/oct/22/london-house-prices-foreign-investors
http://www.islingtontribune.com/news/2013/jul/buy-quit-scandal-overseas-investors-leave-homes-lying-vacant-during-housing-crisis