Real Estate Developers Using Pre Sales

In ireland, the developers weren't going directly to the bond market. The banks were going to the bondmarket on behalf of the developers. It's the same sort of thing th keep going. So basically to the bomb liners. There is a third method of funding which chinese real estate developers, other than banks and bond markets, hav used very, very heavily. Indeed, it's been a growing source of their funding,. even as the companies themselves have boomed over the last sort of decade or so. And that is pre sales of housing. They will use that money to pay for the development t a they promised to the guy 18 months ago, two years ago,