I know since the last downturn a lot of the foreign holders have reduced their positions, so it must be other domestic players like this picking up that slack, they still own good chunks...the Chinese for sure have been investing in gold a lot more than buildings and land in recent years.
I can't really say why the Koreans would be into it, but it does appear to be the Asian thing to do, Japan went through that phase decades ago...just changing players I guess...that and in the case of Korea and Japan who don't have that much land to begin with have to park it somewhere...
Boy, I sure wouldn't want to be holding any kind of big city property when the next plunge hits.
