Chinese Real Estate “Investments”


Interestingly these properties were  paid for by end-buyers with savings and there are no mortgages on them.

And there are stories of the Chinese cashing in these properties and buying others in the US.

Stuck by the similarities with the Japanese idea of saving in houses to fund retirements. Unfortunately things did not pan out as projected. With a glut in houses, prices didn’t go up as projected and an ageing and dwindling population further reduced demand for houses.

Robert Frank On Richistan


wealthymattersRichistan: A Journey Through The 21st Century Wealth Boom and the Lives of the New Rich” is a book by Robert Frank who writes “The Wealth Report,” a Wall Street Journal weekly column and  blog.The book is an eye-opening, educational and at times amusing summary of Frank’s years of analysis of the “new rich”.They came to his attention in 2003 when he noticed that statistics from the Federal Reserve Board showed a curious pattern: the number of millionaire households in the U.S. had doubled since 1995 and showed no sign of slowing.

So what is Richistan?  Frank  defines it as the domain–effectively an exotic country(stan)-of the world’s households that are worth $1 million or more.

So who are the denizens of Richistan?

According to Frank, less than 10 percent of Richistanis are from Old Money -the community of bluebloods whose ancestors made their money in the first Gilded Age-and only 3 percent are celebrities. The rest are: Read more of this post

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