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NO BUBBLE ? PHL far from another property bubble, says Moodys in the Business Mirror, dated Sat. Nov. 28, 2015 Moody's cites steady growth in Per-capita GDP.. … and BSP's tight-watch on Real Estate lending “Moody's ... Ruled out (describing) the ramping up of property prices... as unwarranted” “No even close to a property bubble” Because: Prices remain in lockstep with anticipated GDP growth – 6% in Q3-2015 The central bank keeps a tight watch on lending to the real-estate sector Limiting of foreign ownership to a maximum of 40%, a deterrent to inflows Ongoing growth in commercial property loans (job growth?) will help to support the residential sector The central bank has put in place various “stress tests” on bank lending (from another page 1 article on PHL sovereign notes): The CB has resisted lowering rates, because GDP growth has continued at a healthy level Peso sovereign notes dropped 3% in the last quarter as the govt failed to cut rates Policy rates have been held at 4% since Sept 2014 Goldman Sachs expects upwards pressure on inflation, thanks to the El Nino weather pattern, which is expected to push up inflation by 0.8% with drier weather. The are predicting 2.8% inflation in 2016 Growth in Q4-2015 is expected to be above 6%, thanks to more government spending

After two weeks in Makati- so far- I have seen these comments about AirBNB here Poster-1 There's an interesting calculation: How many days do I need to stay in the flat, to make it worth my while to keep the flat empty, and use it as my pad when I visit here. I currently estimate that at 3 months per year, so there's a possibility that I may just hold my flat and furnish it rather than renting it out. It will be cheaper to stay here, then rent someone else's AirBNB pad Poster-2 Yes I suppose if you intend on staying there as per your calculation for 90 days a year you probably are better off in your own place instead of hotels etc. Infact, I would think that also adds the flexibility of selling at anytime with no tenant in there. Of course airbnb is an option too, if there is someone you trust to manage it whilst away. (A consideration could be to becomes a specialist airbnb operation on several units on behalf of owners. The advantage to potential guests could be the fact that you're a foreigner and perhaps can better address their needs in Phil)? Poster-1 Air BNB is not so lucrative anymore - there's too much competition I have stayed several times in properties owned by Mr B---, and he is shifting from air BNB to long term leasing now He has some heavier family responsibilities coming, and will not be able to be "Johnny on the Spot" sorting out check-ins, cleaning, and unexpected emergencies. He tells me that if you properly price in the costs and risks of having others do this, long term leasing may be just as financially rewarding. Essentially, being an airBNB Landlord can be demanding and time consuming. If you want the job duties it generates, fine. If you have someone else do it, there are trust issues. *Another reason that LT works for him, is that his places are FF, and he has been able to lease them at healthy rates, like P20K per month for a studio in an Avida Tower If Mr B--- makes this decision, and doesnt find it easy to find someone he can trust, how can I? There are also some signs now that Furnish flats are not easy to rent - unless they are offered very cheap There's a stronger demand (at lower prices) for bare units. Then, Filipinos/ Filipinas can bring their own furniture

Global Property : UBS is calling a peak... The Swiss bank UBS - an even bigger player with $2 trillion under management - has issued its own gentle warning on bonds as the US Federal Reserve prepares to kick off the first global tightening cycle since 2004. UBS expects five rate rises by the end of next year, 60 points more than futures contracts, and enough to rattle debt markets still priced for an Ice Age. Mark Haefele, the bank's investment guru, said his clients are growing wary of bonds but do not know where to park their money instead. The UBS bubble index of global property is already flashing multiple alerts, with Hong Kong off the charts and London now so expensive that it takes a skilled worker 14 years to buy a broom cupboard of 60 square metres. http://www.telegraph.co.uk/finance/economics/12014821/Elite-funds-prepare-for-reflation-and-a-bloodbath-for-bonds.html http://i.telegraph.co.uk/multimedia/archive/03509/ubs_bubble_3509191b.jpg

Global Property : UBS is calling a peak... The Swiss bank UBS - an even bigger player with $2 trillion under management - has issued its own gentle warning on bonds as the US Federal Reserve prepares to kick off the first global tightening cycle since 2004. UBS expects five rate rises by the end of next year, 60 points more than futures contracts, and enough to rattle debt markets still priced for an Ice Age. Mark Haefele, the bank's investment guru, said his clients are growing wary of bonds but do not know where to park their money instead. The UBS bubble index of global property is already flashing multiple alerts, with Hong Kong off the charts and London now so expensive that it takes a skilled worker 14 years to buy a broom cupboard of 60 square metres. http://www.telegraph.co.uk/finance/economics/12014821/Elite-funds-prepare-for-reflation-and-a-bloodbath-for-bonds.html http://i.telegraph.co.uk/multimedia/archive/03509/ubs_bubble_3509191b.jpg

Answer this, Skeptics! What have we got here?? Rover Finds Mysterious Dome on Mars POSTED ON NOVEMBER 25, 2015 IN ODDITIES | 1884 VIEWS | LEAVE A RESPONSE Holy Buckminster Fuller! Is that a dome on the surface of Mars? A photograph taken by the Opportunity Rover shows what appears to be a dome or dome-topped structure on the Martian surface. Is it real? What is it made of? Does this mean Martians have a football team? The pictures were taken on Sol 4073 (Martian Day 4073 or 2015-07-10 UTC on Earth) by the Opportunity rover’s panoramic camera (Pancam). The structure is easy to spot as it sits forward on a hill and is the largest raised formation in the area. Its isolation and surface – which appears to be different than the surrounding rocks and soil – makes it look like it doesn’t belong in the natural layout of the area. If it’s not natural, what is it? > http://artbell.com/rover-finds-mysterious-dome-on-mars/

Mike Maloney-Bond Bubble Bust Will Be Devastating Here's a look at TLT ... All Data ... Notice a number of turns at/near year-ends. It will be interesting to see if TLT goes to a high or low end of a trading range on 12/31/2015 A bond rally, together with a "Santa Claus" stock rally, might set markets up for a big turn in 2016

an interesting post. thank you

RESIDENTIAL vs OFFICE BALANCE : a first look - ( see also below, post #215 ) MORE: > Link- see post #215 : Keeping a Balance ? : OFFICE space versus RESIDENTIAL flats http://www.greenenergyinvestors.com/index.php?showtopic=18811&page=11 This is an interesting report, because it is giving hints of a future dip in rents Research & Forecast Report, PHILIPPINES 3Q 2015 Rental growth steady amid rise in future completions > http://www.colliers.com/-/media/phil_knowledge_3q2015.pdf It does suggest some changes ahead - the supply rises in 2016 and 2017 are going to be huge. The interesting thing is the Supply surge that was originally forecast for 2015 is not really happening, thanks to delays in completions. But it does seem logical that nearly of the projected supply increases will happen eventually OLD : Shows completions clustered in 2015-16, especially for Makati (also see post #101) Location : End2014/ 2015F: + Pct. / 2016F : + Pct . / 2017F : + Pct. / 2018F ======= Makati -- : : 18,110 / 4,608: +25.4% / 2,017: +11.1% / 1,485: +8.20% / 1,072 B.G.C. -- : : 19,427 / 5,433: +28.0% / 4,895: +28.0% / 2,979: +15.3% / 1,010 Ortigas-- : : 13,633 / 2,756: +20.2% / 1,227: +9.00% / 0,573: +4.20% / 0,422 Rck+Ewd :: 11,706 / 0,000: +00.0% / 0,908: +7.76% / 0,346: +2.96% / 0,914 Total-of-5 :: 62,876 /12,797 +20.4% / 9,127: +14.5% / 5,383: +8.56% / 3,628 But that projected 20-25% surge for 2015 is not happening. Instead, we see this: LATEST Location : End2014/ 2015F: + Pct. / 2016F : + Pct . / 2017F: + Pct. / 2018F / 2019F ======= Makati - : : 18,337 / 1,000: +05.5% / 4,148: +22.6% / 2,962: +16.2% / 1,072 / 0,598 B.G.C. -- :: 19,427 / 2,779: +14.3% / 6,931: +35.7% / 4,125: +21.2% / 2,831 / 2,482 Ortigas-- :: 13,820 / 2,430: +17.6% / 1,355: +9.80% / 0,899: +6.51% / 0,422 / 0,570 Rck+Ewd :: 11,707 / 0,000 : + 0.0% / 0,988: +8.43% / 0,346: +2.96% / 1,124 / 1,124 =============== Total-of-5:: 63,291 / 6,209 : +9.8% /13,422: +19.3% / 8,332: + 10.0% / 5,449 / 3,919 Tl.condos: 63,291>69,500 :--------> 82,922 :-------> 91,254 :--------> 96,703 /100622 So, Colliers now expects a slight FALL in rents over the next year: Location- : 2015-Q3 : Midpt/ 2016-Q3F: Midpt: +/- Pct: reported ======= Makati - : : 595 -1135 : 865 / 573-1118 : 846 / - 2.26% : - 3.39% B.G.C. -- :: 681-1083 : 882 / 658-1048 : 853 / - 3.29% : - 3.25% Rockwell-:: 804-1098 : 951 / 792-1076 : 932 / - 2.00% : - 1.79% (vacancies : Despite the expected dip in rents, Colliers is forecasting property prices to stay flat

Bloomberg - The Rise of Airbnb's Full-Time Landlords http://www.bloomberg.com/news/articles/2015-11-10/how-airbnb-makes-property-investors-rich-despite-the-neighbors Ryan Scott says traditional landlords are missing out. The real money is in Airbnb Inc. Scott, 33, figures he brings in half a million dollars a year in revenue from 14 San Diego homes he leases by the night using the short-term rental site. That’s a 20 percent profit margin and almost twice the revenue he could get from year-round tenants, he said. Scott owns eight of the houses and manages six others for landlords, and he’s able to do it and still keep his day job. “When I got started a few years ago, it was very easy -- there wasn’t a lot of professional competition on Airbnb,” Scott said. “Now I think it’s going to get much more crowded with professional managers, for better or worse. There’s a huge opportunity for bigger companies.” Listings by investor hosts such as Scott, powered by sites like Airbnb, Vacasa and HomeAway Inc., are surging in urban hot spots around the U.S. The rise of full-time hosts is spawning a crop of startups offering support services from housecleaning to key exchange. While the unlicensed lodgings are giving a lift to local restaurants, shops and bars, they’re drawing scrutiny from city governments and driving some neighbors crazy. . . . Tracy Smith lives two houses down from one of Martin’s rentals, a short walk to the popular Rainey Street restaurants and bars. She says she’d rather see kids in the backyard of Martin’s property than guys playing beer pong, she said. “People are making a killing,” Smith said. “Homes are taken up for families who’d want to live here.” Angry neighbors haven’t slowed the expanding universe of the more than dozen startups that have emerged to serve the alternative travel industry, said Jeremiah Owyang, an industry analyst at Crowd Cos., a Redwood City, California-based research firm. Companies include Beyond Pricing, which offers software so that owners can vary rates based on supply and demand; Guestprep.com, a turndown service for hosts that replaces towels and sheets and reports back on the state of the property; Airspruce, which links hosts with professional travel writers to pen listing descriptions; and Keycafe, which allows guests to pick up keys from neighborhood cafes. “There’s a real industry here,” Owyang said. “It’s not just a fad.” == MORE : click on link (I think they are exaggerating - AirBNB is getting saturated in some locations)

US Property - Recovery nearing an end? If the e-wave count on this chart is accurate. the rally in General Housing stocks since the 2008-9 Low maybe be nearly over HGX / Housing General Index ... All-Data : 10-yrs : 5-yrs : 2-yrs: Last: $232.99 / PHM-10yrs / IYR-10yrs

US Property - Recovery nearing an end? If the e-wave count on this chart is accurate. the rally in General Housing stocks since the 2008-9 Low maybe be nearly over HGX / Housing General Index ... All-Data : 10-yrs : 5-yrs : 2-yrs: Last: $232.99 / PHM-10yrs / IYR-10yrs

( From AsiaXpat ): Gr. K. Here is another interesting way to look at property prices; Quoting from the link below: Alfred Lau, a property analyst from Bocom International predicted the potential fall in prices from looking at real estate prices relative to property stocks. Lau said that Hong Kong home prices are now the highest compared to property developer stocks in almost two decades. == http://www.retailnews.asia/hong-kong-property-prices-expected-fall-2016/ Economic factors seem to be hitting those Developer shares: " Cusson Leung pointed out that the shrinking retail market in Hong Kong, mainly driven by the closure of many luxury brand stores, was one of the main factors in driving down the property sales. The other factors were rising unemployment, shaken investors’ confidence over concerns that China’s growth is slowing, and that the global markets may suffer from a planned in the interest rate hike in the United States. According to Leung, “Pressure on the economy is the biggest concern here instead of an interest rate hike.” Alfred Lau, a property analyst from Bocom International predicted the potential fall in prices from looking at real estate prices relative to property stocks. Lau said that Hong Kong home prices are now the highest compared to property developer stocks in almost two decades. “It is a sign that the property market will drop as much as 20 per cent in the last quarter this year,” he said. There were other signs telling the same story. In August, Hong Kong’s private-sector economy saw its sharpest contraction ever since 2009. This is a distress signal for the economic health of Asia’s financial capital." (Response): Good find! That's more or less what I am saying too. "Hong Kong home prices are now the highest compared to property developer stocks in almost two decades" In my idea of the typical cycle, Property Shares peak first: maybe 6-12 months ahead of the actual property prices. And then they lead property prices lower. To me, that's the message of that article.

Yes A long last, Barratt may be rolling over - but I await a confirmation BDEV... update: Last: 569P ... PSN-5-yrs / Last: 18.44

CYCLICAL FORECASTING - has worked well in property markets But many do not think that way Q: (from G.K.) I agree sentiment is important but surely to drop 30% there must be economic rationale behind such sentiment. Since possible market peaks around September very little has changed economically - rate raise may be more likely however I believe the impact will be nominal and already allowed for (they have been due to rise for months). The increasing developer supply has also be discussed for months. And if anything the economy has improved if you look at China share prices. I still believe that if land sale prices do not fall by a large amount and/or unemployment starts to rise any fall will be limited. A: G. K., I do not forecast the way that you were taught to forecast. The traditional way is not very effective. Wait and see how my forecast works out. For me, markets move in cycles and patterns, and they can be observed in historical charts. The main driver is sentiment, and the cyclical "learning process" that is going on, as sentiment changes. The traditional guys, who are less accurate, will pin the fundamental "reasons" to the market moves after they happen. To me, they are working with backwards logic, and my approach is forward looking. So don't ask me for "my" reasons, since we can all identify them later, after the fact. Like anyone, I can speculate what the bearish factors might drive the market lower. And my starting point would be to look at the massive gap between Prices and Rents. Prices are up 205.9% to an index level of 305.9 since 1999, and Rents are up just 77% to 177. If Prices backtrack to where rents are now - and return to their historical 1999 ratio to rents, they would fall by 42.1% (177/305.9= 57.9% ) - if rents stay where they are now. So you can ask: Why have Prices climbed so much more than Rents: + Interest rates have fallen to ultra-low levels, the lowest in history + Supply has been constrained, and only now is rising faster than demand + Mainland China buyers have been big buyers since the 2003 low, but less active since the cooling measures were introduced - but many still become Hong Kong ID holders and buy when they can without paying the extra tax. That's a source of extra demand, and things could happen to turn some of these mainland owners into sellers. So any of the these three factors might change in a negative way, or all three, and these adverse changes would undermine the property bull market, and bring prices back towards their historical relationship to rents.

CYCLICAL FORECASTING - has worked well in property markets But many do not think that way Q: (from G.K.) I agree sentiment is important but surely to drop 30% there must be economic rationale behind such sentiment. Since possible market peaks around September very little has changed economically - rate raise may be more likely however I believe the impact will be nominal and already allowed for (they have been due to rise for months). The increasing developer supply has also be discussed for months. And if anything the economy has improved if you look at China share prices. I still believe that if land sale prices do not fall by a large amount and/or unemployment starts to rise any fall will be limited. A: G. K., I do not forecast the way that you were taught to forecast. The traditional way is not very effective. Wait and see how my forecast works out. For me, markets move in cycles and patterns, and they can be observed in historical charts. The main driver is sentiment, and the cyclical "learning process" that is going on, as sentiment changes. The traditional guys, who are less accurate, will pin the fundamental "reasons" to the market moves after they happen. To me, they are working with backwards logic, and my approach is forward looking. So don't ask me for "my" reasons, since we can all identify them later, after the fact. Like anyone, I can speculate what the bearish factors might drive the market lower. And my starting point would be to look at the massive gap between Prices and Rents. Prices are up 205.9% to an index level of 305.9 since 1999, and Rents are up just 77% to 177. If Prices backtrack to where rents are now - and return to their historical 1999 ratio to rents, they would fall by 42.1% (177/305.9= 57.9% ) - if rents stay where they are now. So you can ask: Why have Prices climbed so much more than Rents: + Interest rates have fallen to ultra-low levels, the lowest in history + Supply has been constrained, and only now is rising faster than demand + Mainland China buyers have been big buyers since the 2003 low, but less active since the cooling measures were introduced - but many still become Hong Kong ID holders and buy when they can without paying the extra tax. That's a source of extra demand, and things could happen to turn some of these mainland owners into sellers. So any of the these three factors might change in a negative way, or all three, and these adverse changes would undermine the property bull market, and bring prices back towards their historical relationship to rents.

Endeavour Mining (EDV.t) : ... is merging with an African Gold miner controlled by an Egyptian billionaire Naguib Sawiris, who seems to be a "bright fellow". And the idea is to create a substantial new African Gold Miner The Sawriris family will have 30% of EDV (and 2 of 9 board seats), and the company gets 55% of the ITY Gold mine, and $63 Million in cash EDV regards the merger as "accretive." The relationship is meant to be "long term", and Sawriris has agreed to a 2-year standstill agreement No.shares : 413.14 mn + 177.06 mn (30%) = 590.2 mn x $0.63 = $ 372 million, prospective Market Cap EDV.t ... 10-yrs : 5-yrs : vs-GDX / 3-years : vs-GDX : 6-mos : Last : C$0.63 6 months - versus GDX .... update : GDXJ-vs-GDX : SLW-vs-UGLD (3xGold) Note the Non-confirmation - GDX is back down retesting the lows, but EDV is above them. If/when gold stocks bounce back, EDV may be one of the super-charged stocks - same with SLW perhaps Looking at the merger - at C$0.58, La Mancha is getting 177million shares, worth approx, US$78million, after contributing US$63 Million cash and 55% of Ity - that's just $15 million of 55% of the Ity Mine in Cote D'Ivore, and that values 100% at $27.3 million. EDV mgmt regards the transaction as "highly accretive.". Gold------------- : Old EDV : 100%Ity : Combined : - 45% T : NetComb. : Reserves, P&P-- : 3.930M : 0.870M : 4.800M : Cost per Oz.----- : $ 00/oz : $ 09 / oz : $ 00 /oz : Reserves, M&I--- : 6.900M : 1.600M : 8.500M : Cost per Oz.------ : $ 00/oz : $ 17 / oz : $ 00 /oz : Production, 2015 : 580.k oz : 80.k oz : 640.k oz : ============== PRODUCTION: Gold-------------- : Old EDV : 100% Ity : Combined : Impact of Ity Production, 2014 : 466.k oz : 081.k oz : 547.k oz : + 17% All-in. Sust. Cost- : $1010-- : $921 /oz : $997 /oz : - 1 % Revenues--------- : $ 584 Mn : $100 Mn : $684 Mn: +17% Operating EBITDA: $ 143 Mn : $036 Mn : $179 Mn: +25% . . . 6 months, 2015 -- : 255.k oz : 045.k oz : 300.k oz : + 18% All-in. Sust. Cost- : $ 922 -- : $696 /oz : $888 /oz : - 4 % Revenues--------- : $ 307 Mn : $052 Mn : $359 Mn: +17% Operating EBITDA: $ 098 Mn : $027 Mn : $125 Mn: +28% In the future, Ity's upside will be mainly in a new type of production from CIL Capital Costs / NPV */ (for the Ity mine) Heap Leach : $32mn : US$ 18.2 Million, to the end of 2017 CIl projec--t- : $87mn : US$ 219. Million, of which $128.5 mn are direct costs === *AT $1,150/ oz.

Too many agents, Too few transactions Make-or-break days for agents Esther Yu / Thursday, November 05, 2015 Excerpt According to Land Registry data, 2,035 transactions were recorded in the secondary home market in October down 23.5 percent from 2,661 deals the previous month. The 2,035 secondary sales represented a 35 percent decline from 3,132 transactions in August, and a 52 percent drop from 4,271 deals in July. However, Centaline, the biggest local real estate agency employing more than 4,500 agents, said it has no plans at present to lay off staff, hoping instead to reduce headcount and overheads through natural attrition. In contrast, Midland Realty, another leading property agency, said some branches under its banner may shut down if their landlords do not cut rents when their leases expire. Facing such dire straits, Hong Kong's 37,272 licensed agents will have to devise new strategies - for in such a highly competitive marketplace, only the strong can survive. + With 37,000 agents, at the 2,035 rate - that's less than one secondhand sale per agent per year ( actual : 0.66 per agent per year) > http://thestandard.com.hk/news_detail.asp?we_cat=16&art_id=162879&sid=45510472&con_type=3&d_str=20151105&fc=7

The Maven Mission is finding what it was intended to find - as we learn from this "old" video Wallace Thornhill: Reinterpreting the MAVEN Mission to Mars | EU2014 Published on 19 Apr 2014 Wal Thornhill looked critically at the assumptions behind the recent MAVEN Mars Probe (Mars Atmosphere and Volatile Evolution Mission.) The probe, NASA says, seeks to measure the loss of volatiles from the Martian atmosphere in order to draw conclusions about the planet's remote past. He reminded us that all of the scientific objectives of the MAVEN Mission were developed under standard assumptions about a 4 billion-year old solar system. What's more, Wal showed how, under the inertia of belief systems, evidence can be distorted or ignored and contrasted this with the rapidly accumulating evidence for a highly catastrophic and recent history of Mars.

(Added Fanling Centre - to the database) (2015) Apr- 04/30 : $9.150M: $7.710M : $13.57M: $9.620M : $4.690M: $7.640M : $8.350M: $3.490M : $11.05M : $7.320M Aug- 08/15 : $9.190M: $8.040M : $14.00M: $9.960M : $4.830M: $7.650M : $8.360M: $3.680M : $11.81M : $7.650M Oct- 10/31 : $9.050M: $7.950M : $13.41M: $10.11M : $4.930M: $7.650M : $8.360M: $3.720M : $11.84M : $7.650M : $3.920M Area ==== : TKO-CHt: TK*TsW : TKT-CPk: TY-TVrd: TC-CrCs: TktLb30 : Tkt.Lb50: TktTm13 : Tkt-IsHV : PrspG*KC : Fanl.Ctr. Tower / Fl. : Tw3-30C: Tw3-25C: Tw3-30C: Tw3-30C: T3-30C : Tw3-30C: T3-50C : TG13fl.5 : Tw3-30C : Tw3-28C : BlkF18-4 : ========== Week : CCLI : CMMI : RobinPl / IslHarb: ParkAv: / C'ribC : TaikSh.: Fanling Numb.: ( #1) ( #2,4): (---- #6) : (--- #7) : (--- #8) : (-#-3) : (-#-13) : (--#-5) ==== . . 11/01: 141.76 142.96: 17,226 /13,002: 13,219 /: 6,675 : 14,476 : 7,662 : 10/25: 142.98 144.05: 17,315 /13,171: 13,391 /: 7,047 : 13,947 : 7,749 : 10/18: 144.33 145.54: 17,339 /13,281: 13,503 /: 7,035 : 13,997 : 7,778 : 10/11: 144.61 146.10: 16,123 /13,117: 13,337 / : 7,050 : 13,989 : 7,746 : 10/04: 146.45 148.22: 16,168 / 13,179: 13,397 / : 7,062 : 15,181 : 7,773 : 09/27: 146.01 147.61: 16,173 / 13,265: 13,484 / : 6,514 : 15,101 : 7,772 : 09/20: 146.67 148.39: 16,180 /13,241: 13,203 / : 6,508 : 15,134 : 7,817 : 09/13: 146.92 148.61: 16,182 /13,270: 13,232 / : 6,519 : 15,119 : 7,833 : 09/06: 146.76 148.27: 16,196 /13,055: 13,368 / : 7,076 : 14,937 : 7,727 : 08/30: 146.78 148.27: 16,199 /12,963: 13,273 / : 7,577 : 14,923 : 7,708 : ==== > Historical : http://202.72.14.52/p2/cci/SearchHistory.aspx?tab=2 ======= Centaline index announced yesterday: CCLI: 141.76 - 0.85% Home prices shaky after hitting a record high - SCMP, pg. A3 Official price indexup 9.9pc this year though softening market will be evident next month + Sept's index from RVD climbed 0.22 in Sept. to a record 305.9. And the Rental index was up 0.28 to a record 177, up 6.5 pc since the start of the year + Ricacorp's data slowed some slowing in Sept. with the average price of small flats below 430 sf, down 3.6 pc in Kowloon, and 4.1 pc in the N.T. + Inventory of unsold homes rose to the highest level in 15 months, at 7,176. With sales down 22.6 pc in October to 3,300 units, that's a 2.x month surplus + Investment banks are now predicting falls of 30 percent up to 2017. Meanwhile a govt tender failed for the first time this past week, in Tsing Yi. Barclay's says prices are now 2.7 percent down from a mid-September peak

NASA's new Mars findings MSNBC-12 hours ago Loren Grush, Science Reporter for The Verge, joins Thomas Roberts to discuss exciting new findings about the atmosphere of Mars, and the .. NASA's MAVEN reveals how Mars may have lost its water Nasa Mars announcement: Agency likely to announce how Red ... The Independent-Nov 5, 2015 The HiRISE camera aboard Nasa's Mars Reconnaissance Orbiter acquired this closeup image of a "fresh" (on a geological scale, though quite ...

The Philippines Peso has been one of the stronger currencies versus the USD AUD - versus SGD, PHP ... update ++ CNY

Bizarrely, Hang Lung Group seems to have some broad correlation with Gold HLG / HL10 / Hang Lung Group ... update

Chinese developers are turning to US real estate investments as an alternative to investing in China The real estate markets in major markets such as New York, Los Angeles, Chicago and San Francisco are most popular to Chinese. These urban cities have seen a flurry of investment from large Chinese developers. We expect to see smaller and middle size Chinese developers to follow their lead. Here is a list of recent investments by Chinese developers into US. Fosun International’s $725 million purchase of 1 Chase Manhattan Plaza in New York City was the biggest foreign investment in commercial office space in 2014. Zhang Xin and Pan Shiyi partnered with Brazilian banking magnate Moise Safra to take a 40 percent stake in the General Motors building in NYC for $700 million. Wanda Group owned by China’s richest man Wang Jianlin, purchased AMC Cinema chain for $2.6 billion in 2012. They also spent $900 million on a 90-percent stake in a Chicago mixed-use development in 2015 with recent news to develop a 93 story Wanda Vista Tower in downtown Chicago. China Vanke, China’s largest residential developer, will develop a four-building, 656-unit condo development in San Francisco called Lumina in partnership with Tishman Speyer. Xinyuan, founded by Zhang Yong, bought land in NYC for $54 million following successful projects in Nevada and California. It recently announced its fourth investment project in Manhattan. Landsea is investing $1 billion in the U.S. housing market building condominiums in San Francisco, Los Angeles and New York City markets and exploring Washington DC and Boston markets. Shanghai-listed Yantai Xinchao Industry Co. will buy Ningbo Dingliang Huitong Equity Investment Center, an investment company owning oil properties in West Texas valued at $1.3 billion. Greenland Group is developing $1 billion development near downtown Los Angeles including a metropolis hotel, condominium and shopping complex. Shenzhen Hazens bought Luxe City Center hotel and two adjoining lots for $105 million in downtown Los Angeles. The company is looking at a $250 million development costs. Oceanwide Real Estate Group is bought land in downtown Los Angeles looking to build 3 40 story towers with condominiums, hotel rooms and nearly 167,000 square feet of retail space. Gemdale Corporation, one of China’s largest blue chip real estate developers, to co-develop a $125 million mixed-use project in Hollywood, which will be the first real estate investment in Hollywood by a major Chinese company. We continue to see the trend of Chinese developers investing into US real estate. Join us in Los Angeles on January 20th at the Chine Private Equity Forum to discuss the investment process and how to partner with Chinese developers.

Wow. Is that legal? She'd be better off in a phone box

Something remarkable - a genuine Free Library - in the Makati area One man's generosity has been appreciated by his community Reading Club 2000 is an informal library set up by Hernando Guanlao outside his ancestral home in central Manila, Philippines. Hernando Guanlao, known by his nickname Nanie, wanted to encourage his local community to share his joy of reading. Guanlao started his library in 2000, shortly after the death of his parents. He was looking for something to honour their memory, and that was when he hit upon the idea of promoting the reading habit he'd inherited. "I saw my old textbooks upstairs and decided to come up with the concept of having the public use them," he says. So he put the books - a collection of fewer than 100 - outside the door of his house to see if anyone wanted to borrow them. They did, and they brought the books back with others to add to the collection - and the library was born. At Nanie's Reading Club, there is no membership, borrower's card or ID required. One may keep the books or return them. "I encourage sharing with their neighbors when they are done", Nanie explains. > http://readingclub2000.com/