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Originally Posted by Onn
It's always "this time's different" and it never is!
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Well clearly it is, South Korean mortgage regulations are starkly different than those in the US. I never said S Korea was bubble proof I simply stated that it's real estate markets are not overleveraged. That does not mean people have not been speculating, it just means they are not speculating for the same reasons as in the US where cheap capital was abundant.
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It's all connected, speculation in the proerty market. People build on speculation, it dosen't matter if it's office or housing. If one is hit you can bet the others will take a hit too. That's what has happened in all property bubbles throughout the history of the world!
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No this is simply incorrect. Very few office buildings are built on spec, and none of them have anything to do with the property market. Office is built to suit a clients needs and in all but the hottest markets is only built with prelease commitments.
But hey if its happened "in all property bubbles throught the history of the world!" then it must be true...
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I'm not dumb, stop thinking I'm clueless.
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I never said you were dumb, but you aren't helping your own cause when you say South Korea cant build this project because there isn't a building as tall in japan.
And also, as soon as it is
known there is a property bubble, it bursts. people can speculate all they want that there is a bubble but until prices decline it isn't known.