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This makes what we had going on around here seem quaint.
I'm guessing that the income approach is not allowed.
That's a real estate guy joke ..... don't worry about it, it wasn't that good anyway.
From our good friend Jeff Nabers.
Apparently I don't understand the Chinese economy, if there are no Tenants to pay the owners, how did the owners afford to build the mall/city in the first palce?
Banks are subsidized by the government, defaults both technical and real are buried, or not accounted for at all.
Mortgages are amended as they go ...... The financing of your dreams.
The developers are largely wired into the government or the party in some fashion, so oversight there is lacking as well.
The government's primary concern is creating employment.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
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Comments
China Ghost Towns
Apparently I don't understand the Chinese economy, if there are no Tenants to pay the owners, how did the owners afford to build the mall/city in the first palce?
Since you asked
Banks are subsidized by the government, defaults both technical and real are buried, or not accounted for at all.
Mortgages are amended as they go ...... The financing of your dreams.
The developers are largely wired into the government or the party in some fashion, so oversight there is lacking as well.
The government's primary concern is creating employment.