Evergrande Group, the world’s largest real estate empire is teetering.

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OFSO
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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#21 Post by OFSO » Wed Oct 06, 2021 12:31 pm

Despite the Agent telling us "it's not your problem if the purchaser can't keep up the repayments" we know Spain has some tricky laws, and knowing the estate agents will never come out of a deal out-of-pocket, we refused to sell to the rapscalion from World Rugby League (Europe) Ltd., "registered" In Gibraltar via Parliament Lane Nominees Ltd.

Does the team here consider that the number of tricksters and con-men exceeds 50% of the population buying and selling property?

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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#22 Post by Wodrick » Wed Oct 06, 2021 2:06 pm

Recently, within virus time, we had a viewing middle aged single male, East European or Commie, probably Commie who came viewed and went, not 5 minutes. Natalie took him off to see her house, she has split with long term partner, and almost before they got there she was on the phone with an offer. 'Twas a good offer only a little below asking. However he wanted to play a substantial portion as black money. We declined.
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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#23 Post by OFSO » Wed Oct 06, 2021 4:09 pm

Yes, I had a German viewer, seemed OK, buying through his German company but wanted me to pay the MwSt or German VAT on the Spanish villa and he'd reimburse me. Said no.

A good friend sold his place here, about 80% declared, the rest under the table. Estate agent told him the sales tax was calculated on the whole amount. My friend, retired Tax Collector (UK) told the agent he was out of his mind.

Since 2015 it's been possible to sell in Spain but declare and pay the tax in your own country, if your own country has a fiscal agreement with Spain. The UK does, nothing to do with the EU and not cancelled by Brexit. Most estate agents don't know this (or care).

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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#24 Post by Alisoncc » Wed Oct 06, 2021 4:29 pm

Pinky the pilot wrote:
Wed Oct 06, 2021 9:35 am
And today it was announced by some Aussie Banks that anyone applying for a Housing loan had to demonstrate that they could make repayments if the Interest rate was (approximately) double that which it is at present.
Duh !! Twice zero isn't much different from original zero.

Returning to Evergrande. Perhaps people should be giving more consideration to President Xi Jinping actions. If there is civil unrest in China from financial disruptions over failure of developers, and a winter with significant power cuts, he is likely to consider more than sabre rattling as a distraction. Invasion of Taiwan could well be such a distraction. Tensions are the highest they have been for years.

My readings suggest that Evergrande isn't the only developer on the skids. Once one goes, like dominoes, many will fall. And residents of high-rise apartments, of which there are mega-millions, without electricity in Winter is going to create a lot of pain. Throw in an inscrutable Chinese dictator with unchecked power and it's anyone's guess as to what he may choose to do. But whatever it is, it won't be nice. A few cities in lockdown compliments of Covid, and .......
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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#25 Post by Alisoncc » Tue Oct 12, 2021 3:18 pm

The price of coal used in China's power plants has surged to a new record high as another of the country's key mining regions is hit by flooding.

Heavy rains hit Shanxi in recent days, the country's biggest coal producing province, after record floods struck the mining region of Henan in July.

Thermal coal on the Zhengzhou Commodity Exchange rose by over 10% on Tuesday.

The floods further complicate China's efforts to increase fuel supplies to ease its deepening energy crisis.

Shanxi Province, which produced around a third of China's coal supplies this year, was forced to temporarily shut dozens of mines due to flooding. Although some sites are now slowly resuming operations.

At least 15 people have died during the severe flooding that has affected more than 1.76 million people in the province, local officials said on Tuesday.

Torrential rain last week led to houses collapsing and triggered landslides across more than 70 districts and cities in the northern province.

Even before the flooding, China was already facing an energy shortage which has caused power cuts in large parts of the country.

In recent weeks, energy firms have been forced to limit electricity supplies to millions of homes and business.

On Friday, Beijing reportedly ordered China's coal mines to boost output.

The move was the latest attempt by authorities to increase coal supplies after prices hit record highs and electricity shortages forced energy firms to ration power.
https://www.bbc.com/news/business-58879481

Civil unrest must be deepening, and President Xi's position must be becoming increasingly untenable. What will he do to effect a major distraction for the masses?
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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#26 Post by Pinky the pilot » Wed Oct 13, 2021 9:24 am

What will he do to effect a major distraction for the masses?

I suspect Taiwan is on high alert. :-?
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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#27 Post by EA01 » Wed Oct 13, 2021 12:43 pm

Partial Conversion of assets to Gold then?....I am a (or once was a pilot), so my financial acumen is very questionable...but in times of trouble..gold?

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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#28 Post by boing » Wed Oct 13, 2021 7:23 pm

The expression "Black Swan" has moved from the world of finance to the world in general with recent events providing good examples.

A recent report gave me food for thought. Apparently cases of myopia in the 'advanced' parts of the World have been increasing rapidly in a mildly exponential progression. The commentator happened to mention that at the present rate of increase the occurrence in China is expected to reach 45% of the population in the next ten years. What do you do when 45% of your population requires spectacles to function? What happens to your pilot hiring, both civilian and military? What about the long list of other activities that require good vision such as turning out crappy hand made goods? Obviously the problem can be ameliorated by selective hiring but to give an example, what happens when 45% of your military cannot read a small print label and have to be careful not to lose their spectacles? What happens when a large proportion of your infantry cannot use their rifle sights?

The problem in general was blamed on the increased use of small screen displays such as smartphones and tablets. One solution offered was to restrict young peoples access to smart phones to less than 3 hours a day ---- fat chance.

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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#29 Post by Undried Plum » Wed Oct 13, 2021 8:47 pm

boing wrote:
Wed Oct 13, 2021 7:23 pm
What do you do when 45% of your population requires spectacles to function?
Bomb Pearl Harbour?

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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#30 Post by G-CPTN » Wed Oct 13, 2021 11:01 pm

Before spectacles became 'popular', did the population suffer appalling eyesight?

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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#31 Post by boing » Thu Oct 14, 2021 1:42 am

According to the commentator the problem is due to long periods looking at a close object. I suppose reading a book is the same but my guess is that people spend far more time on a cell-phone during the day rather than reading. An example he showed was a young boy quite merrily skateboarding along while typing on his phone. This is probably considered very cool.
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Re: Evergrande Group, the world’s largest real estate empire is teetering.

#32 Post by PHXPhlyer » Thu Oct 14, 2021 2:00 am

Skateboarding, driving, walking on sidewalks and in crosswalks, shopping malls, etc. ~X(
The best one was the woman walking in a shopping mall and walked into a fountain. :-o All caught on mall surveillance camera.
She had the gall to try to sue the mall operator. :-q To no avail. L-) :))

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