Saturday, May 24, 2014
“Property prices have increased some 300 percent from their trough in 2003. While prices have leveled off more recently, estimates from [IMF] staff models suggest they could be higher than suggested by fundamentals. (…) a disorderly correction, resulting from, for example, global market volatility or domestic shock, remains a key risk as an abrupt downturn in prices could trigger an adverse feedback loop between economic activity, bank lending, household balance sheets, and the property market.” says the new IMF’s economic report on Hong Kong.
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