calvino

E-House China: Not All Housing Is Weak

I am not paying 47 multiples for a real estate agency if they are in Florida, China, the Moon or selling funeral plots in Heaven. When dudes like you destroyed the wealth of millions of investors in the 2000 Delusion, you should have learned your lesson. Yet here you are again, just too smart to be measured. Technicals? Ok, China says no more lending to developers as of two weeks ago. Yesterday China said more interest raises coming. What the heck would prompt you to recommend a real estate agency into this environment - a notoriously cyclical business with zero barriers to entry. I know, you are just smart like that.