iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,502 Blog Posts

The Hong Kong Housing Market is Deteriorating Rapidly; Negative Equity Numbers Soar, While Price Drops, and Sales Numbers Are Dropping Like Anvils

The Hong Kong housing bubble is probably the biggest in the world right now, maybe second to London’s. But, unlike London, things are starting to fall apart, rather quickly, in Hong Kong now, as the economic woes from the mainland spread to its ancillary holdings.

hk
craziest housing bubble ever

Over the past quarter, underwater mortgages in Hong Kong surged 15x to 1,432, up from 95 the previous quarter. Moreover, the value of said mortgages are in the area of $630 million.

Property sales are at 25 years lows and the price declines are staggering.

For the month of February, property prices are down 3.5% and -21% over the past year. Prices have dropped for 6 consecutive months and not a peep out of it from the media.

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3 comments

  1. sarjoy

    Time to move to HK

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  2. active shooter

    Yes, the danger must be growing
    For the rowers keep on rowing
    And they’re certainly not showing
    Any signs that they are slowing…………A view from aboard the Ark this morning…..

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  3. nocturne

    MOAR signs that Asian currency devaluations are on the close horizon.

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