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Andy Hughes
Duong Global Business Consulting Group
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Comments by "Andy Hughes" (@andyhughes1776) on "Duong Global Business Consulting Group" channel.
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For years now, Vietnam's property market was led by Chinese investors. But now that China's economy is shrinking, their own property market is collapsing along with any properties they own around the world, including Vietnam. But unlike, say the U.S., NO Vietnamese could afford such high prices to save Vietnam's real estate sector. Hence, it must collapse.
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Duong, this is your best video yet - very insightful and informative, not to mention exciting by the way you deliver it!
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So are houses in the U.S. Its just worse in Vietnam because the average salary there is still too low ($500 USD per month). The average price of a house in the U.S. is 10 times the average salary. In Vietnam, its more than 30 times. All due to Chinese foreign buyers. But now that China's economy is tanking, they could no longer afford to buy / keep real estate in Vietnam (and elsewhere) so that is why the real estate market in Vietnam is tanking.
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I know this is kinda hush-hush but are there still bribery going on whenever you deal with government officials? A few years ago, I asked a Vietnamese businesswoman the same question and she said, "If there's no bribery, it's not Vietnam."
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The collapse of the real estate market worldwide reflects China's troubling economy. They were the only ones with that kind of money in the last 10 - 15 years. Unless there is another economy like China's, real estate price MUST collapse to its true worth. Like in the U.S., real estate agents in Vietnam are delusional. All properties today are truly only worth 40% to 60% LESS than their posted price.
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Parents should get together and hire a private tutor to teach their kids using accredited home school online programs. Say, one tutor per 4 students. $400 per student will net $1,600 per month for the tutor. Fully credentialed teachers' salary in Vietnam is from $1,000 to about $2,000. $1,600 is pretty darn good pay for a tutor! And $400 per month is nowhere near the price of International School.
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I talked to a Vietnamese lady who owns several restaurants in Vietnam whether Vietnam still takes bribes like they did prior to 1975 when Vietnam was democratic. Her words: "If there's no bribery, it's not Vietnam!" 😁😀😄
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Vietnam had always been corrupt, even before 1975. So I asked a Vietnamese businesswoman if there are still bribery in Vietnam. She said, "If there is no corruption, it is not Vietnam!"
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Great objective assessment - no sugar coating, no biased opinions. Just facts.
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That's because Vietnam was never really about Communism. Ho Chi Minh himself said, he will deal with Communism after he defeats the French. He only became Communist (to get weapons) after the U.S. rejected his plead for help in 1946. Today's Vietnam is Communist In Name Only (CINO).
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Vietnam better take heed of the US's own authority's warning: "It may be dangerous to be America's enemy, but to be America's friend is fatal." Henry Kissinger
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This has ALWAYS been going on. But when Chinese investors money poured in, it didn't matter because they could flip and make money. But now that China's economy itself tanked, no one has the money to keep buying in Vietnam. It's a giant Ponzi scheme. Same goes in the U.S. Their transparency didn't help either. The only difference is by degree....or maybe not. We'll see how hard the U.S. housing market crash.
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"I'm not saying that all Vietnamse are out to scam you" But they are! 😁😄😃😀
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@offhamsterwheel2789 Not enough to save VN housing market.
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Same in U.S. right now.
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Not just Vietnam experience Ponzi schemes and corruption but you can say the entire Wall Street is like that too. .
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Imagine if the US has the same strict drug enforcement as Vietnam. Oh wait, that is what Trump wants to do!
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The U.S. housing market will soon follow suit.
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