Real estate, economy already at bottom: expert
The China Post news staff
September 4, 2012, 5:49 pm TWN
Both the real estate industry and the economy in general have fallen to the bottom, while the U.S. Federal Reserve is unlikely to launch a third round of quantitative easing measures (QE3), said an expert yesterday.
The remarks by Lin Yu-lin, chairman of Hung Tai Construction, were made during an event yesterday in Taipei.
"The real estate industry has fallen to a point where the buyers can probably enter," Lin said. "This is especially the case for properties for residential use, although those interested should take it slow and shop around. Buyers for investment purposes should meanwhile monitor whether there are further government actions targeting them."
According to him, Hung Tai has been looking for land to develop, especially lots in the Shipai area of Taipei City and Danshui District of New Taipei City. As for downtown Taipei, Hung Tai will roll out different products targeting different customers.
As for the economy, Lin cited government statistics as saying this year's GDP growth is estimated at 1.66 percent, which he said probably won't go down further. "If the economy keeps falling, the public won't take it," he said.
He pointed out the government may roll out various economy-stimulating measures, although he doesn't know what they may be.
He also said the U.S. is unlikely to roll out QE3, which he said is not necessarily conducive to U.S. economic growth. At the same time, various stabilizing economic data in the U.S. also led him to this conclusion.