America is on sale

Apparently someone forgot to tell these guys the economy is terrible and now is not the right time to be buying real estate.  They also forgot to tell them banks aren’t lending…  Goes to show you there are good deals to be found in any market and that good deals can always find financing.  Who doesn’t want to have a part of a good deal?

Chinese High Rollers Invest in US Real Estate
A small group of wealthy Hong Kong families and businesses, plus one from Singapore, have bought a foreclosed parcel on the corner of Wilshire and Santa Monica in Beverly Hills, 90210. The group, Joint Treasure International, paid $148.3 million, 70 percent less than the previous owners paid.

You have to love (and follow) Mr. Yiu’s investing advice/philosophy – don’t get emotionally attached to real estate.  It’s just a thing, an investment.  To philosophize a bit of my own seems we should use this approach to many of our possessions.  I have a feeling those 33 miners in Chile weren’t worrying about their homes while they were trapped underground for those 10 weeks.  What a healthy dose of reality which hopefully we never have to experience ourselves.  They had some time to evaluate their priorities and think about what’s really important in life.  Whew, I’m starting to feel claustrophobic.  None the less you’ve gotta love stories with happy endings which by the way are also new beginnings!

To your health, happiness and welfare!

Larry

the full story can be read at CNBC  –  http://www.cnbc.com/id/39654990/

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