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Jim Rogers: Real estate prices too high in China, I won't buy it |
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09:22, September 11, 2009 |
The international investment guru Jim Rogers attended the China International Financial Services Conference (CIFSC) held in Guangzhou on September 10. Talking about the Chinese real estate, Rogers noted that the price is too high and he will not buy it.
When the U.S. real estate prices were 30% to even 40% lower than its peak in 2006, China's real estate prices are hitting a new high. Is there a bubble in China's housing market now?
On this issue, Rogers believes that real estate prices in Shanghai and Hong Kong are too high, and he will not buy, because in the past he has suffered such losses.
He added, when any commodity price goes straight up, we need to be on the alert, and can not follow blindly to make purchase. If you have to buy real estate, I will go for agricultural areas and mining areas, because the farmers will become increasingly rich, and mineral resources will become increasingly valuable. I would buy portable valuable non-ferrous metals, rather than a fixed real estate. In 5 to 10 years, I would have made a lot of money on this. Agricultural products and mineral stocks are on the decline, the relationship between supply and demand determines that the prices of commodities can only go up in the long run.
 By People's Daily Online
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