The pin for our property bubble?

If this property is really sold at $300m in the end, will it be that proverbial transaction which burst the property bubble? I think it could very well be. Just examine the stories of financial bubbles from history beginning from Tulipmania.

And if it doesn't sell, just may be the market need to be tested again later.

By the way this is an insane $3,500 psf.

Anyone who understand reversion to the mean would know what is the smart thing to do. Smart doesn't mean you are right and that's the reason why most never learn their lessons.

Why the Chengs want to test the market now and so cruelly? The party can go on if you don't do anything to make them nervous. The government would like to drain the punch bowl but not suddenly remove it. The Chengs are spoilers.