Another China Crack: Ultra-Luxury Hong Kong Real Estate Being Dumped For Cash

Nowhere is this more evident than in Hong Kong's ultra-luxury housing market. First, since the Hong Kong dollar has long been pegged to the USD, the monetary authority has had to massively expand its liabilities in response to the Fed's money printing spree since late 2008. Accordingly, the Hong Kong dollar interest rate has been pinned to the floorboard for five straight years, fueling a massive speculation in real estate that has taken the price of luxury properties to manic levels.
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