Having Trouble with Optimistic Realtors Assessing the Market? Try Geomancy
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The Bastion of Bubble Bloggers gets Batty whenever a realtor or Builder makes a Bold prediction on a Bolstered and Boisterous 2006 market. Well, as a wise man once said, “you ain’t seen nothing yet.” It was such a good story, even Bloomberg is even covering it.
Singapore home prices will rise this year at more than twice the 3.8 percent pace of 2005, according to the forecast of Chong Swan Lek.
His prediction comes not from studying the real estate market or economic data, but from a type of fortunetelling known as geomancy.
“It’s the year of fire and earth, which means you’ll make money out of property,” said Chong, 65, a fourth-generation Chinese geomancer. “We can expect anything between a 7 and 10 percent rise in property prices.” via Bloomberg.com
So which would you prefer, Geomancy or American Entreprenurial Spin. Both will never tell you the downside, but with an ear to the ground, provide a good deal of fun for the investor.
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