So who do you think is buying? Even with all the stimulus packet 3/4% drop, cash rebate, increase in road way contructions of several billions, and others. Do you think institutions will come back in? The next subprime restructuring is this summer, and then there are other non-subprime in 2009 and 2010.
I'll buy some more at 12.5. Don't know who is buying, but if most of IGR asset is overseas, e.g. 10% in HK, 18% in Australia, I don't see those economy melting down because of property price contraction. You still need hospitals in the US, another 6%.
Yes, the banks and construction industry are in big trouble in the US, soon the credit cards and consumers. But would you wish you could have caught some shares at 11 something this morning?
Gold mines dropped big time last night in HK, as much as 22% at one point. But guess what, they'll undo that tonight.