China Real Estate Black Swan
¨To
Yea-Sayers:
¨Urbanization:
Cause-Effect Mix Up
¨Economic
Growth: Cut the waste
¨Emerging Middle Class: Beware of uneven
distribution
¨Lack of
Good Quality RE: Having superb Micro RE features is no
defense against a Macro Down Trend
¨Huge
Savings and Reserves: ditto