Just look at that poor fellow looking like he has been working extremely hard and he has not been paid and is probably aware that he won't be as he just fodder. People like him should be first in line for compensation.
This is wonderful news. Speculators drove up house prices to ridiculous heights, preventing real homebuyers from buying. With property prices dropping like a rock, soon real homebuyers will be able to buy homes for the first time. Prices need to drop much, much more. And they will. For sure. Wonderful new indeed!
Where are the audits? 1M unfinished builds? Since people pay for the house in full even before construction begins, it is inconceivable that the builders would be in such financial crunch. Where did all the money go? Unless land prices or construction prices have skyrocketed, there is no reason why the builder would be in such a crunch unless there is rampant fraud and embezzlement.
Oh come on. Those "relationship managers" know nothing about finances. They only know how to sell to suckers. I had read through some of their recommendations and couldn't believe how badly they structured against investors. Only idiots would buy any of those products.
Yea, and a lot of the people that bought and paid for an apartment aren't even going to get it. The developers take their money and stop working on the apartments. They get to take the full amount of money for the apartments once they finish building the frame. All these developers are finishing the frames of these buildings, pulling all the money for them out from the bank and then stopping construction. It's a giant ponzi scheme, much like the entire Chinese economy.
It says so much about pap investments in prc. They are in deep deep trouble now. The people has the right to know where and what and value of prc investments. Investing in prc carries significant SIGNIFICANT political risk.
I understand that their debts are held mainly by the locals. There is going to be some domino effect on the rest of the economy. I hope that this contagion does not spread to the Chinese developers operating here
1 billion homes to finish ?? For a single developer ?? China already has way way way more inventory than actual demand for housing in most places. Talk about a bubble.... Who'd invest in that ?! It was already clear years ago this would fail spectacularly, now watch as most Chinese get their entire portfolio (real estate is the only investment vehicle for them) down by 80%..... Some estimate they have 4 or 5 times the number of housing units they actually need.....
Better than those Chinese tofu buildings that randomly collapse in 1 year with everyone inside them... I don't know why anyone would buy an apartment made by a Chinese company...
@@madsam0320 Mahathir only said buying property in Forest City won't automatically lead to a residency visa in Malaysia. He also demanded that they sell to Malaysians first, and not Mainland Chinese citizens. Nothing wrong in what Mahathir did.
Country garden apartments and forest city in Johor is a scam property investment. This will happen when a government more focus on foreign nationals than building homes for own people. Let the developers suffer so residents of Msia can buy cheaper apartments. This is same for Princess Cove RF mall. Another over hyped apartment.
Many of them are stubborn. Way back in 2015 already told a few amiable relatives to Migrate after visiting the horrible country and one of the few first tier cities.
If there are no confidence in the Forest city, there is nothing much that can be boost. Existing investors and buyers already lost more than 50% over 6-7 years when it suppose to appreciate. It goes to show buying a property in malaysia is a mistake.
As usual, unregulated, over-building capacity leads to unsustainable development. The man with the golden songkok has pocketed his premium upfront. Nothing new under the sun.
I hope they can preserve these buildings, and sell them in the near future. The government must 😊have such laws as will facilitate prospective buyers, on which region they are from. Would they encourage overseas investors? Possibly "silent partners" or "passive partners"?
1) The apartment quality is in many cases low - it won't survive in livable condition for 20+ years --> everyone looses their money in the long run (especially in China where you don't even own the land the building is built on) 2) China in 20 years time will have less people than today and there's no guarantee the 2nd, 3rd tier cities will be as attractive to live vs countryside when factory jobs in the cities are in continuous decline --> less need for these city apartments than originally forecasted
Doesnt matter most of them are probably tofu buildings, I dont know why workers still build them even though safety concern to people that will live there
HELLO JB COUNTRY GARDEN ARE FINISH EVEN DROP 70% ALSO CAN’T FIND BUYER. NOT ONLY COUNTRY GARDEN PROPERTY PRICE WILL CRASH THE PROJECT WILL ALSO COLLAPSE SOON. ADVISE TO COUNTRY GARDEN OWNER JUST WRITE OFF EVERYTHING AND DON’T THINK ABOUT IT IS FINISH. VERY SOON COUNTRY GARDEN WILL ALSO BANKRUPT TOO. 🙈🙈🙈
If you like to invest in property, don't buy the property but buy the stock of a good public property developer. Much more liquid, much less maintenance fees, and usually appreciate higher in the long run.
But what about other's money which their apartment is not yet finished and worker's wage which not yet paid ? What a waste of time and money ! Even if it's effect is for long term investment! Not all have money to buy all apartments and some foreign investors afraid to invest because of geopolitics, and stagnation of economy..some waiting or watching to see what is happening first...
China is a young economy . Sometimes it’s economy will face a turning point. The government can support Country Garden and keep the dead alive or it can bankrupt it and let other better developers buy up the pieces and thrive. China have great experience in closing the SOE . So, let Country Garden die …..and let other good developers thrive and feast on its carcasses.
Another example of Extreme Capitalism. I see in another youtube vid, seems like Singapore is mentioned in the Bonds they defaulted. I'm not very sure..so this means some people in Hong Kong Singapore will get a shock too. Investment becomes like gambling. so if you see the name CG, beware of this name.
are china developers not learn from history that indonesia and the rest of asia property developer face similar fate on year 1997 bcause cheap foreign debt (us debt) and overexpand ? which bring the nation to knee. maybe president Xi have a good reason to control over debt and control finance so private company overdebt not destroy nation just like what western nation expect china to be
😆Maybe their leader take the chance punish greedy people. Warning from the leader in 2017 On October 18, 2017, Xi Jinping: "Adhere to the positioning that houses are for living in, not for speculation, and speed up the establishment of a housing system with multi-subject supply, multi-channel security, and both rental and purchase, so that all people have a place to live."
@@happymelon7129 Country Garden will go the same way as Evergrande as the whole Chinese property market is a ponzi scheme. I feel sorry for the Chinese people whole get ripped off, it's really not their fault.
Haha….wat value u talking….. no house in JB is worth anything pls…… do u really do any homework? Do u know how much vacant land there is in JB? No properties will ever be worth anything
Evergrande could not pay its overdue debts. Creditors seized its Hong Kong headquarters. They have yet to find a buyer almost a year after seizing it.
Just look at that poor fellow looking like he has been working extremely hard and he has not been paid and is probably aware that he won't be as he just fodder. People like him should be first in line for compensation.
I pity the simple workers in China
There is no workers union in chyna, no one speaks for them
This is wonderful news. Speculators drove up house prices to ridiculous heights, preventing real homebuyers from buying. With property prices dropping like a rock, soon real homebuyers will be able to buy homes for the first time. Prices need to drop much, much more. And they will. For sure. Wonderful new indeed!
You forget that this company has a lot of money from those "real homebuyers". You think its only investors ? lol wrong.
@@HermanWillems if they buy to live in those homes, there is no problem. If they buy to speculate, they deserve it.
Falling property prices means more people can buy rather than rent.
But what about other's money which their apartment is not yet finished and worker's wage which not yet paid ?
I think rich china ppl don't buy multiple house locally but in overseas
Where are the audits? 1M unfinished builds? Since people pay for the house in full even before construction begins, it is inconceivable that the builders would be in such financial crunch. Where did all the money go? Unless land prices or construction prices have skyrocketed, there is no reason why the builder would be in such a crunch unless there is rampant fraud and embezzlement.
I was pitched their bonds as AAA by Singapore banks. I laughed in their face and they thought I was stupid person..
Jeez another Highnote moment
Oh come on. Those "relationship managers" know nothing about finances. They only know how to sell to suckers. I had read through some of their recommendations and couldn't believe how badly they structured against investors. Only idiots would buy any of those products.
Xi Jinping will rate all China stocks: AAA.
@@HermanWillems And Sovereign Wealth Funds will keep buying them up.
@@sarabeth8050 Not for much longer. They are all starting to see that the Chinese miracle is just a ponzi scheme at a country wide level.
They are screwed . .
Whats so important about buying a home you never really own. That part of how China does that is mind boggling to me.
#Greed ☠☠
Yea, and a lot of the people that bought and paid for an apartment aren't even going to get it. The developers take their money and stop working on the apartments. They get to take the full amount of money for the apartments once they finish building the frame. All these developers are finishing the frames of these buildings, pulling all the money for them out from the bank and then stopping construction. It's a giant ponzi scheme, much like the entire Chinese economy.
Owners need to pay additional monthly $$ for maintenance, regular upkeep of road, beach etc.. by a struggling developer soon.
It says so much about pap investments in prc. They are in deep deep trouble now.
The people has the right to know where and what and value of prc investments.
Investing in prc carries significant SIGNIFICANT political risk.
U mean Temasek?? 😃
Will HO Ching come out and say our Reserves can afford to be contrarian again.?
I feel sorry for the little guys in all this - the construction workers etc who are just trying to put food on their table.
Little guys if no job there can come here work at construction sites or healthcare industry or work as trauma cleaners
I understand that their debts are held mainly by the locals. There is going to be some domino effect on the rest of the economy. I hope that this contagion does not spread to the Chinese developers operating here
Where's here.?
@@riffraff8490 Yeah some of the developers here are Chinese owned.
You have a valid point
@@chenghonggoh4746 singapore or malaysia ?
@@Funktastico I was thinking of Sg
1 billion homes to finish ?? For a single developer ?? China already has way way way more inventory than actual demand for housing in most places. Talk about a bubble.... Who'd invest in that ?! It was already clear years ago this would fail spectacularly, now watch as most Chinese get their entire portfolio (real estate is the only investment vehicle for them) down by 80%..... Some estimate they have 4 or 5 times the number of housing units they actually need.....
I was wondering about that Forest City project. Looks like Malaysia will get a "Chinese ghost town" on its own shores.
Betul...
You can thank Mahathir for that.
@@madsam0320
He did a good job
Better than those Chinese tofu buildings that randomly collapse in 1 year with everyone inside them... I don't know why anyone would buy an apartment made by a Chinese company...
@@madsam0320 Mahathir only said buying property in Forest City won't automatically lead to a residency visa in Malaysia. He also demanded that they sell to Malaysians first, and not Mainland Chinese citizens. Nothing wrong in what Mahathir did.
Country garden apartments and forest city in Johor is a scam property investment. This will happen when a government more focus on foreign nationals than building homes for own people. Let the developers suffer so residents of Msia can buy cheaper apartments. This is same for Princess Cove RF mall. Another over hyped apartment.
Greed is their business ethic.
I pity those chinese who paid and ended in broken dreams
Many of them are stubborn. Way back in 2015 already told a few amiable relatives to Migrate after visiting the horrible country and one of the few first tier cities.
Confidence in Country Garden eroded because CG builds tofu dregs buildings.
If there are no confidence in the Forest city, there is nothing much that can be boost. Existing investors and buyers already lost more than 50% over 6-7 years when it suppose to appreciate. It goes to show buying a property in malaysia is a mistake.
And they haven't even get their title deed, meaning the property is still not theirs
Ultimately forest city will drop to 10% of its launch price ..
@@stingray9225 Princess Cove also the same problem.
Not a problem. Since majority was bought by people with money they were not supposed to have in the place . Loosing ill gotten gains not sooo painful
if Malaysia government is willing to sell that plot of land to Singapore under Singapore's sovereignty, it would be sold out in 3 days.
*Any Country Garden here ?*
As usual, unregulated, over-building capacity leads to unsustainable development. The man with the golden songkok has pocketed his premium upfront. Nothing new under the sun.
I hope they can preserve these buildings, and sell them in the near future. The government must 😊have such laws as will facilitate prospective buyers, on which region they are from. Would they encourage overseas investors? Possibly "silent partners" or "passive partners"?
1) The apartment quality is in many cases low - it won't survive in livable condition for 20+ years --> everyone looses their money in the long run (especially in China where you don't even own the land the building is built on)
2) China in 20 years time will have less people than today and there's no guarantee the 2nd, 3rd tier cities will be as attractive to live vs countryside when factory jobs in the cities are in continuous decline --> less need for these city apartments than originally forecasted
Tofu-drag consruction to add to the problem.😂
How long can paper cover fire huh CCP?
wonderful news🎉
The president for life Xi Jinping pong should be kicked out of the office!
The "bric gang " will lend a bric or two
Doesnt matter most of them are probably tofu buildings, I dont know why workers still build them even though safety concern to people that will live there
Its called Greed.
Slum cities
No numbers only air
HELLO JB COUNTRY GARDEN ARE FINISH EVEN DROP 70% ALSO CAN’T FIND BUYER. NOT ONLY COUNTRY GARDEN PROPERTY PRICE WILL CRASH THE PROJECT WILL ALSO COLLAPSE SOON. ADVISE TO COUNTRY GARDEN OWNER JUST WRITE OFF EVERYTHING AND DON’T THINK ABOUT IT IS FINISH. VERY SOON COUNTRY GARDEN WILL ALSO BANKRUPT TOO. 🙈🙈🙈
Why are you keep building? Don’t you have enough ghost cities?
Xi did nothing wrong. Don't blame emperor Xi.
They still have common prosperity by emperor Xi.
All hail emporer Xi!
What quality are the projects in singapore. Tofu dregs there too?
What happen to progress payment?
Going down, down down
The Mahathir govt stalled the Forest City project, banned foreign buyers and suspended the MM2H program.
he is a clever and good leader to try to hint and also stop people from making mistakes in buying a property there in malaysia.
@@user-kp4dh8gi5fHaha, by protecting foreign buyers instead of the domestic economy? He did it out of spite with JB sultanate.
If you like to invest in property, don't buy the property but buy the stock of a good public property developer. Much more liquid, much less maintenance fees, and usually appreciate higher in the long run.
Problem is it is a ponzi scheme in China to prop up their gdp.
But what about other's money which their apartment is not yet finished and worker's wage which not yet paid ? What a waste of time and money ! Even if it's effect is for long term investment! Not all have money to buy all apartments and some foreign investors afraid to invest because of geopolitics, and stagnation of economy..some waiting or watching to see what is happening first...
It's called Xi's common prosperity.
Confucius say don’t spread Yo self to thin!
This is a disaster
HOW ABOUT FOREST CITY?
No big deal just cut out few cpec projects and country garden will be up and running untill they sell all units
*China workers are diligent and hardworking can import them here to work on construction sites or healthcare industry or work as trauma cleaner*
GOOD RIDDANCE
Why placed your $trust$ in a China company is beyond me. The word China already should make you wary.
Musical chairs and all the chairs are gone
omg! another defaulted developer
Very common at CHina lehhhhhhhhhh
Greedy greedy greedy buy only what you can see r feel it
And they warned US and Taiwan with playing fire.
Well CCP the fire is already burning but not in Taiwan. It's on your own roof. Haha
I'm keen with nuclear waste water discharge news? Is there any to refer on CNA?
fancy buildings hide the true pain that is going on in the background !
I have stopped all my investments in the China market since April. It is more fragile than the United States market.😅😅😅
The SPX is +10% since April.
Invest in india
Chinese corruption hahahaha😂😂😂😂😂
Over built and not selling wow
I foresee many organ donors
Take the money to XJP
Bgtukah xi ping mngatur rakyatnya dn bngga dng orang² pngikutnya yg mmpropagandakan negara china.🤣🤣🤣👍🏿👍🏿👍🏿
JP morgon increased their chinese garden shares lol😂😂😂
Bye bye
China is a young economy .
Sometimes it’s economy will face a turning point.
The government can support Country Garden and keep the dead alive or it can bankrupt it and let other better developers buy up the pieces and thrive.
China have great experience in closing the SOE .
So, let Country Garden die …..and let other good developers thrive and feast on its carcasses.
Gambled money away in crypto losses
No worry China gov has so much money
*Global X China Real Estate*
Another example of Extreme Capitalism. I see in another youtube vid, seems like Singapore is mentioned in the Bonds they defaulted. I'm not very sure..so this means some people in Hong Kong Singapore will get a shock too. Investment becomes like gambling. so if you see the name CG, beware of this name.
China 🇨🇳
Is gonna burn down TOFU buildings and cars all fall apart 😂😂
Same thing Happening around the world
Country Garden's also a victims of U$A irresponsible Fed hikes interest rates
Chinese home buyers are NOT finance by US mortgage companies, genius!
Hope US raises it's rate to double digits
@@akira28shima32 Country Garden's may default on the external USD debt interest payment
NOT local debt. Read more books
30 day grace period. Relax 😂
Correct, But those China ha-te here are so happy 😅
are china developers not learn from history that indonesia and the rest of asia property developer face similar fate on year 1997 bcause cheap foreign debt (us debt) and overexpand ? which bring the nation to knee. maybe president Xi have a good reason to control over debt and control finance so private company overdebt not destroy nation just like what western nation expect china to be
debt fueled economy, what to expect, rise and fall. I do hope prices around the world is crashing too
😆Maybe their leader take the chance punish greedy people. Warning from the leader in 2017
On October 18, 2017, Xi Jinping: "Adhere to the positioning that houses are for living in, not for speculation, and speed up the establishment of a housing system with multi-subject supply, multi-channel security, and both rental and purchase, so that all people have a place to live."
Evergrande not from Xi regime , he may take the chance to grab Evergrande from the previous regime.
Good for him
Sure. HappyMelon? More like StupidMelon.
@@stuartedwards6996 Actually Good for him , further grab more power from the previous regime.
Hence he may help Country Garden's and NOT Evergrande
@@happymelon7129 Country Garden will go the same way as Evergrande as the whole Chinese property market is a ponzi scheme. I feel sorry for the Chinese people whole get ripped off, it's really not their fault.
Haha….wat value u talking….. no house in JB is worth anything pls…… do u really do any homework? Do u know how much vacant land there is in JB? No properties will ever be worth anything
i thought jb is hotspot for sg workers
Fake News 😂😂
Hyperbole from CNA CIA stooges 😋
Anything china fails.the McDonald's toys are not good either
Good! Next step is the land-banking all over the world. This will have to be done taken by force.