Tuesday, October 26, 2010

Hong Kong trapped in price spiral

These guys really ought to remember the last crash.

Hong Kong trapped in price spiral
Spiraling property prices have Hongkongers blaming Chinese speculators. They may be just looking at one side of the coin. Near zero US interest rates have inflated Hong Kong’s property market - and put the former British territory out of step with the rest of China. 

Home prices have almost doubled since the start of 2009. The surge is keeping increasing numbers of Hongkongers out of homeownership and has fueled government concerns that the property market may be overheating with a collapse to follow. 
(bolding mine)

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