2012:China Real Estate Edition
I am not a big fan of the 2012 movie, but this is what Andy Xie (former chief Asia economist at Morgan Stanley, now an independent economist) said,
Chinese real estate market is 100 percent overvalued and that the intrinsic value of the Shanghai Composite Index is 2,000 points
He went one step further predicting that China’s stock and real estate markets will decline slightly in the fourth quarter of this year, with a large decline coming in 2012. Xie has been preaching this since last August.
Categories: Predictions