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Whether there will be an upcoming time of greed/fear depends on :
1) China further tightening her local property market thus causing many Chinese instead to invest assets overseas as a hedge against their domestic inflation. How so ? Because their forex is inelastic while ours are getting stronger and more elastic. So, they have low exchange rates which is killing their buying power because the more sort after luxury goods by the middle class like cars are foreign made.
2) If US will keep the interest rates below 3%. 3% is the magic number because below this number is the real arbitrage rates as they are effectively negative real rates for your cash in the banks. Unless the banks are able to offer 3% deposit rates which are highly unlikely due to many factors. Beyond 3%, you will be paying more and more for your bank loans.
3) Rental markets. If rental returns remain above 3% like now. It will be better to buy than to rent. Foreigner expats are quick to find out this rental arbitrage rates. Why I called this rental arbitrage rates is because it is more worthwhile to buy than to rent. How so? Imagine you rented at the market for 3% of a property value BUT the bank loan rates are 2%. For a $1 million property, u paid about $3800/month while for a banking loan, you are paying $2800/month ! Even after they packed up and go home, they still can collect good rentals from India or China on the properties here. What do you think the expats will do? Yes . Like what they are doing now in the mass market segment!
4) The Big Fish ( Or the High End Property Investors ) will enter the market when rental arbitrage rates beyond 5% which many time is unlikely but your humble brother here think it is coming soon due to the Japanese earthquake.
Last month was the month of Fear. But starting this week, I think greed is coming back although it is very subtle and low profile now. ( a few pojects in Geyland was fully sold within a day, if my grassroots sources are accurate. )
Good Luck. Just My Humble Opinion Only, Do Not blame me for anything!