Sunday, February 3, 2008

Vietnamese Real Estate

"Housing markets around the world may be in the doldrums. But not in Vietnam, where speculators are lining up to buy condos and international developers are building whole cities in what amounts to an enormous bet on the country's economic future. ... Many prosperous Vietnamese are trading condo units before they are even built, just as investors in Hong Kong and Singapore have done for years", WSJ, 30 January 2008.

Sounds like Las Vegas about 18 months ago. I wonder what Ho Chi Minh thinks of "Vietnamese trading condo units before they are even built"? It looks like Hanoi lost the Vietnam War.

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