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Here is a ridiculous story: 鞍山灵猪
In 2007, at a certain village in China, a PIG before she was slaughtered, spoke in human Chinese language, and said "this yr (the yr of pig) I am expensive, next yr it shall be rice, therafter there would be nobody living in houses"
In essence, we are seeing a rice price rally, next yr 2009, we would probably see a global property glut.
There are lots of Funds (Morgan Stanley Real Estate, Goldman Sachs, Dubai, etc) chasing properties prices in Asia (like Singapore, Shanghai, HK). In fact Singapore and Shanghai premier house prices is comparable to London, NY.
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