http://www.pionline.com/article/20120307/DAILY/120309919/university-of-michigan-commits-to-chinese-real-estate-co-investment
Why the hell would you invest in an oversupplied market, years after the real estate explosion actually occurred? Some dumbass on the investment committee did an amazing job pitching this bullshit idea that Chinese real estate will keep growing since all the fundamentals are saying the complete opposite. 1. China is way overbuilt (check out my previous post about the "Ghost cities" 2. Property values are on a decreasing trend and will only get worse 3. Companies are starting to relocate manufacturing plants to Singapore and other cheaper SE Asian countries because Chinese workers are demanding higher wages, therefore cutting down on your profit margin 4. A major real estate bubble is occurring in China due to the over development and cheap debt given by country owned banks
I thought Michigan had one of the best business schools in the country and amazing alumni. Apparently we have fucking snakes who are going to fuck their own school to make some $ for their fund. What a bunch of wankers.....
