Yeah, No, You're Right, It's Not a Mania

Anecdotes like this are always the hallmark of a mania.  This story is no different than the NYC cabbie who traded tech stocks from his taxi in 1999 or the Las Vegas real estate development career of Ivana Trump in 2006.


From Gawker:

56-year-old Chinese farmer Yang Youde got tired of commercial property developers lowballing him and trying to demolish his home, so he built and fired some rockets at them. The short-range rockets held off an onslaught of 100 people.

According to the China Daily newspaper, Yang was offered the equivalent of about $19,000 dollars for his property, which he holds an ownership contract for until 2029. He asked for five times that amount, but was denied, so he stood his ground. The developer has sent dozens of people to evict him, according to the paper:

In early February, some 30 demolition workers tried to evict Yang. They hid behind the excavators when Yang set off fireworks aimed at them.

“When the fireworks ran out, they came over and beat me,” said Yang.

Yang was rescued by police that time, but nearly four months later the developer sent 100 people to kick him off his property. He retreated to a watchtower and held them off with rockets, which he custom made from fireworks. Now the developer is circling Yang’s property with ditches. Someone send this man some reinforcements!

I’m sure just one of many absurdities in a property market that is unequivocally excessive, populated with desperate and demented characters.  Good luck with that.


Chinese Farmer Fends Off Property Developers With Rockets (Gawker)

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