China loses Trillions in Stock Market Crash, NYSE Suspended due to Glitch We shouldn't be surprised, should we? Quote:
---- Meanwhile at the NYSE, Trading halted due to 'technical glitch' New York Stock Exchange halts all trading after technical glitch - Business - CBC News Coincidence?? |
The big question is what will this do to the Vancouver housing market? Talk about a lot of lost cash. |
or people taking out whats left to throw at vancouver. |
this is awesome news |
surprise.exe not found seems like its been going on for a while doubt it'll affect the Vancouver housing much, it'll be business as usual. |
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Great! Time to buy now right??? What do you think will recover most over there? My knowledge of China's stock market is pretty much nil. Made lots of money after the USA crash years ago... Ford shares for $1.00 each was my favourite pony to ride at the time, went up to 16x before the year was out! |
Patiently waiting for 4444 to respond to this thread. :Popcorn |
waiting for Gululu to chime in |
Money isn't just lost. Where da fuq did it go? |
where is charlesincharge |
No reason for panic honestly, the Shanghai stock market rocketed up in value since the end of 2014 til the summer of 2015. It's all in how you frame the market. Quote from the NYT: “The Chinese stock market has dropped 32 percent in a month” is scary. “The Chinese stock market is up 70 percent over the last year” sounds great. Both are true. http://www.nytimes.com/2015/07/07/up...002&abg=0&_r=0 In addition, it's not like the stock market there is a major player in the economy for China compared to the TSX for Canada and NYSE for the US, so in all it's not going to affect things too drastically. However, it was most definitely a bubble in their already very volatile stock market as most of the increase in value of the market was due to pyschological reasons more than fundamentals being better for the companies. |
How is that Cafe doing with the 50+ investors? |
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inb4 Gululu blames the "whites" for messing things up. |
Chinese stock market had been over-inflated for the last few years (like real estate in Vancouver). The trillions in "lost" is just a market re-adjustment. As a whole, it won't affect the Chinese economy much. Vancouver real estate market will not "crash" because of this news. Life goes on. |
Where is Ulic Qel-Droma? |
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Nah, he's probably motorboating a T-dub LG as we speak. |
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You're on fire lately!!! |
Setting up for another market crash . By this year end. China has lowered interest rates 4 times in a row, minerals are gonna go down next coupled with euro. Canada will be lowering interest rates if anything. |
Lets not forget about the massive real estate bubble in China which will eventually burst as well. |
I'll put in my perspective on this. When market crashes like this, a lot of investors will need cash and a lot of cash to cover their margin positions. They will look for the places where their other invested money (ie HK/Vancouver RE) and cash out since they've got a healthy profit. Problems is, you have to look at A LOT of people trying to cash out. Supply increases and the other ones originally looking to buy (from China) are going to stop looking also. If they were willing to invest in Vancouver RE, you can bet that they were gambling big on the stock markets also when money came in much easier for the past couple months. Increase supply, decrease demand. What's scary is when they really really need to cash out asap and will be willing to sell even with $100k+ discount or whatever depending on location. It's like watching the stock market crash and trying to sell. No place in the world is immune and we're talking about Vancouver here. For the first couple months, you'll see buyers. These are the local ones that are living and trying to buy a place here, not foreign investors. They might be able to buy at a 10% discount but that's still nothing compared to how low it can get. I'm guessing 50% with a low economic local support. It could be the biggest shit storm for Vancouver RE in the longest time and will take quite some time to recover. Then you got all these horny buyers thinking they finally bought a place with maybe a 10% discount and be stuck with negative equity for the rest of their life. Of course, China could recover in a week and all is forgotten but I really doubt it. If you still think China doesn't affect the RE market here, then you really have no clue what drove the prices up in the first place. |
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so we're expecting the canadian dollar to continue to shit itself for the next year? current buy for USD is like 1.28 or more |
If they have the money to buy a 2m+ house in Vancouver, I'm pretty sure cashing out of RE in Vancouver to cover losses is like a drop of water in a cup. It's unreasonable to assume China people move their main asset base to Canada if they continued to live/work in China. Sure there are affects to our RE when the mainland folks "understand what diversifying your investments" meant, which is why we see the continued rise in our RE. However, I doubt these same people would cash out of RE here, repatriate their money, and cover their asses there. And then, when the shit really hits the fan, money comes out even more rapidly to buy more assets, before all the underground transfer joints get all shut down. |
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