GACornrowWallace

China provided cheap debt to developers to help econ growth.

The Chinese people cannot invest outside the country so they looked for alternative investments, real estate became one of the most preferred for the average Chinese person.

Chinese kept investing in condos that no one lived in but since they kept investing and debt was available developers kept building.

Fast forward and now there are a billion condos that groups of average Chinese people own that no one lives in. They pooled their money together to buy condos when just one person didn't have enough which didn't help this situation.

Some groups think there could be more than 2 billion housing units that don't have anyone living in them and were an "investment".

So now reality is hitting and prices are collapsing and everyone's money is gone.

Lets fuggin geaux boys!

I am curious to see what happens with spec houses. Have heard of a few groups buying up homes from builders and renting them, the builders are taking +/-20% off the sticker.

Also, what about all the people who have adjustable rate mortgages? When those come up they are going to be upside down.

He bought the Rockets for $2.2 B with a lot of debt, he also recently leveraged up more to buy some restaurant chains. I think using the Nuggets rev as collateral on the bonds. His past bonds have been at 6.75% ($745 M) and 8.75% ($670 M).

Dude has a serious burn rate with some expensive monies.

No

I saw him in BR maybe 6 years ago and it was fantastic.

Reminds me of this: LINK

In South Padre Island they didn't drill to the bedrock either and the building was demoed before it was even completed. The geo tech was sued for $125 mill...

Met her a couple of times. She was friendly but whenever someone pulled a phone out she assumed they were trying to take a picture of her and was pretty obnoxious about it.