This page has been archived and commenting is disabled.
Chinese Developers "Destocking" Desperation: Bikini-Clad Model Car Washes, iPhones, & Alibaba Discounts
We have presented numerous examples of the turmoil under the surface of China's unprecedentedly placid GDP headlines but, as The FT reports, the desperation of property developers should be the biggest canary in the coalmine that all is not well. Developers began cutting prices this year but have so far failed to revive flagging volumes and so are increasingly resorting to creative sales tactics to drum up interest. From discounts on Alibaba purchases up to $325,000 to car-washes by bikini-clad models, as "putting full effort into destocking has become the common choice of most developers. They’re still not optimistic about the market situation." So why are US investors so upbeat about China's 'recovery'?
As The FT reports, things are not well in the China real-estate market...
Residential property sales fell 9.4 per cent in floorspace terms in the first seven months of the year compared with the same period in 2013, according to government statistics.
Developers began cutting prices this year but have so far failed to revive flagging volumes. More than 30 cities have also removed purchase restrictions introduced in 2010 to restrain price growth amid public anger over high prices.
And developers are desperate...
Scary China real estate data point #527 in an unending series: sales volume in top 30 cities down 31% YoY in July pic.twitter.com/AaAA8LIOWA
— Tom Orlik (@TomOrlik) August 25, 2014
Developers are increasingly resorting to creative sales tactics to drum up interest.
In the latest sign of Chinese developers’ desperation to unload inventory into a weak property market, China Vanke Co is offering discounts of up to $325,000 to homebuyers who shop on Alibaba’s Taobao, an e-commerce platform.
The country’s biggest developer will give discounts that match shoppers’ spending of up to Rmb2m ($325,000) on the eBay-like service. Homes in real estate developments in Beijing, Shanghai, Guangzhou and Chongqing, among other cities, will qualify, according to an advertisement on Taobao’s website.
...
An office tower in Henan province offered car washes by bikini-clad models to people who referred a friend to the building’s account on WeChat
A residential developer in Wuhuan offered new iPhone 6s to potential buyers who showed up at the sales office.
Not exactly signs of optimism...
“Putting full effort into destocking has become the common choice of most developers. They’re still not optimistic about the market situation,”
The inventory build-up may get worse before it gets better. Several developers noted in their recent half-year reports that September and November will be a peak period for new housing completions. That will add to the supply overhang and increase pressure on developers to cut prices.
* * *
But apart from that... China's PMIs say everything's great, right?
»
- 25425 reads
- Printer-friendly version
- Send to friend
- advertisements -
I have a dollar for the tits and ass....and none for the crap i dont need.
The T&A will not be paid in metal either. I can imagine a 500$ an hour hooker with a wheel barrow...thinking shes rich.
:LOL
RIPS
lmao
I clicked this article for the picture and found lots of words. This is obvious fraud.
Sales of merchandise usually fall in 3 categories:
1) The product is needed immediately so the buyer buys it with either cash or credit.
2) The product is not needed immediately but wanted, so the buyer may buy if better credit terms or price discount are offered.
3) The product is a POS and no one wants it, so another product of seemingly "higher" value is given along with it to entice a sale (ie vacation, iFad)
A residential developer in Wuhuan offered new iPhone 6s to potential buyers
double lmao!!
Article from 2013. I don't think much has changed in their favor.
http://www.dailymail.co.uk/news/article-2528425/Inside-one-Chinas-larges...
Anything so innocent and built like that just gotta be named Lucille.
Am I the only one who clicked on this looking for the gratuitous bikini car wash photo?
Sold - where do I sign?
"A residential developer in Wuhuan offered new iPhone 6s to potential buyers
double lmao!!"
No Spiderman towel?
No - Not alone and I'm very pissed off at the lack of "Truth in Advertising"
Same, I only come here any more for the porn. Everything else scares me shitless.
DISASTER PORN
is all they serve here at hedgless zero. Or didn't you know?
There is nothing desperate about 'car-washes by bikini-clad models'.
"Anything so innocent and built like that just gotta be named Lucille."
Thank you, Joe -- you made my day. ;>)
Funny, I don't find that 31% drop nearly as scary as the 250% rise that preceeded it. Why are smart people so fucking stupid?
just go ahead and forcibly relocate those 1.6 billion eaters into the agenda21 potemkin villages already
hugs,
missus ted turner
I fast forwarded through the video - - - no bikini car wash girls.
How do you say 'Freakin' rip off ! " in Mandarin ?
chicky dow main!
http://english.cri.cn/12394/2014/07/28/2982s837948.htm
You are correct, sir.
False advertizing, is what it is !
Pitchforks, torches, tar, and feathers is the appropriate treatment for the malefactors responsible.
At least one money shot, fer chrissake, you would think.
Pissed Off on the Left Coast.
Y U no show bikini girls?
"Hey Ladieeees!!"
Isn't there more Jessica Alba news to report?
Alba, Alibaba. Close enough
Go watch Sin City 2: A Dame to Kill for and you'll get your Jessica Alba fix. She cant act her way out of a wet paper bag but its still worth it.
Alba is gorgeous but Eva Green even moreso.
She can act her way out of a wet t-shirt!!
Awesome - Buy a home in our ghost city and we'll give you a few chicks you can't touch and a fake Iphone 6
Sounds like LA.
http://beeg.com/search?q=car+wash
;-),
Nsfw -1
I should learn to pronounce URLs better (at least I took off the search query first).
For those others similarly afflicted, you might wait until you get home.
A developer offered new iPhone 6's? Out in China already apparently.
I see the Chinese didn't improve on "capitalism" much. Still greased by artfully-arranged female fat.
I would say "show us your tits" but I see you already did.
Chinese women are really sexy in my opinion. This might work!
Nah, Chinese women are not sexy. Some KTown women are hot as long as they are not Catholic. I prefer japanese women.
In Shanghai a few weeks ago. Not sure what KTown is but Shanghai women are very, very sexy this time of year it's a leg show.
Yellow Fever since my first trip to the Phillipines, 1984. China is in many ways like the USA 1950's. Think Mad Men - work hard and play hard and the old-fashioned virtues still apply. I love my time over there.
The Chinese ladies have in the past ten years, due no doubt to superior protein diets, developed asses. I remember in the mid-90's it was rare to see one whose backside did not merely appear to be the extension of her back upper leg.
Their hygeine standards are imvho higher than white girls because they taught, without shame, how to maintain themselves. And many of them retain the virtue of wishing to please their man and enjoy doing so. Never back for this white boy.
Hell, I'd require all three of those girls for the night to buy an iPhone 6; and it would be a long night.
I would give them the best 2 minutes they ever had.
2 minutes! Quit bragging; no one likes a showoff.
I was rouding up by 1.97 minutes. Sorry.
Haven't you guys been watching the Cialis and Viagra commercials? Four hour erection! Why would I call the doctor?
If I have an erection that lasts for more than 5 minutes 2 things have occured.
1. I have found a way to control time.
2. I am having sex with Nell Carter.
5min?! whew... that is a long time. I myself, am I regular five pump chump. go long testoterone therapy.
At around the 4 minute mark I start thinking about pizza and watching Rockford Files reruns.
LOL. U guys are a riot. Another major reason to come to ZH to get all my world news, danger porn and blue balls.
So would I - but only if I had a knot in my shoelaces...
Chinese women don't have asses like those. I call foul.
the Mongolian region girls do .. and boobies too ...the most sort after in China
so should it read "flaccid" GDP headlines instead of "placid"?
You will lose all your money in this market. Those asses though...
"...why are US investors so upbeat about China's 'recovery'?"
Because, just like May-O-Naise in the movie Officer and a Gentleman, "[they] got nowhere else to go."
And these are the people (Chinese) who own the currency which will unseat the $.
Seems weird.
I cum here for the "Bikini clad car wash models"...and nuthing. Back to fapping to pics of Jessica Alba i guess.
Largest size of pic I could find.
...
Went to the comments knowing someone would have that. ZH readers are the most knowledgeable in the field.
Good work, seek.
They do a great job but you gotta give 'em the car!
itoaster next
something ironicar about everyone coming here to make fun of Chinese going to see sheety rear estate, when all anyone wanted to see was Bikini crad women washing cars.
Hilarious.
Welcome to the 1990's China
Our Fearful Leaders think the hooker they got down to $1.50 after "a tough, two hour negotiation", signals "a competitve marketplace, driving GDP while at the same time stabilizing decreasing demand through our most aggressive GMO programs, yielding significant ancillary benefits to our Health Care Conglomerates and residual, affirming support for the great American Work Ethic (A.W.E.) Act."
*(see details for more about the new - cumpulsory - AWE Programs at your Post Office. Look for your picture on the wall and tattoo the 9 digit code anywhere you don't already have tattoos.)
Parking only $20. for the first 10 applicants! If you apply directly at the Penitentiary, parking is FREE but your car will become Government property after 72 hours (and you'll still have to finish paying it off.)
I thought this article was about a car wash.
ZH often teases users with a cute girl icon picture that is not in the expanded article. A teaser hook.
A larger version of the bikini car wash picture can be found on the first page of google image searches for 'bikini car wash'.... Note the bikini females are not remotely chinese.
lmfao- ALL smart chinese money flow's west young man..smart and connected that is.... since the PARTY says no to moving renembi offshore legally.
ohhhhh but its such a superior society...till you peek under the hood lol
Don't forget spiderman towels.
Yep, that was a huge let down. However, from the tiny pics of T & A in the teaser I'd be all in on a Zero Down Interest Only Loan on one of those properties. Hell, if you got to use 3 of em till they found out you weren't going to make the first re-fi date, you'd probably still be able to squat in the house until the forclosure took place.....no wait.....they'd simply execute you in China. forget about it. If this tactic catches on in Ferguson Missouri I'm checking it out. 3 Bikini Car Wash Girls and $ 500.00 for a 2 BR across from the Quick Stop....Sweet.
I heard there are some real buys in the Ferguson area right now... fire sale!