Word: lands
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...threads his taxicab every day through the epic traffic jams in and around Shanghai, jabbering on his cell phone and muttering under his breath, Yang Jinyu seems an unlikely real estate mogul. But when the government asked him to move out of his central Shanghai home so that the land it was on could be sold for redevelopment, he took the compensation payment and bought an apartment on Shanghai's outskirts. Eight years later, after cleverly parlaying that first asset, the cabbie owns three apartments in the city and has his eyes on something bigger: a lovely five-bedroom, riverfront...
...first is that the real estate sector is nowhere near as reliant on debt financing as it is in the U.S. and much of the rest of the developed world. Consider the complex in which Yang, the cabbie, bought one of his three Shanghai apartments. The developer, Shanghai Forte Land, presold all the units before spending a cent on construction. In China's residential market, financing development with customers' cash, not loans, is standard operating procedure...
...that the market is safe. Indeed, people caught up in a bubble typically offer seemingly solid reasons as to why the bubble won't burst. In Tokyo in the early 1990s, it was said that property prices wouldn't crash because in mountainous Japan there was so little usable land relative to size of the population. That was, and remains, a topographical fact. It was also, eventually, irrelevant...
...Instead, red shirt leaders keep a statue of King Taksin at their rallies, some Red Shirt guards dress in the style of King Taksin's soldiers, and banners spell the ousted prime minister's name in the manner of the 18th century king. It's a revelation in a land where near-universal reverence for King Bhumibol has long been assumed. But Thaksin may feel his time is coming, as the king is 82 and ill health. And just about any Thai will tell you that astrologers have foretold there will only be nine Chakri kings. King Bhumibol...
...longer that Palestinians have to wait for their own state, the more likely they are to return to armed struggle, gravitate toward terrorists like Hamas, or abandon the two-state approach in favor of a unitary state - in which Arabs would eventually become the demographic majority in the land encompassing Israel, the West Bank and the Gaza Strip. That would extinguish the dream of a Jewish homeland. So what should...