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More than 1,000 Hong Kong homeowners could see loans exceed value of properties in first quarter
More than 1,000 homebuyers are on the verge of falling into negative equity in Hong Kong, after the prices of flats in some housing estates declined by more than 10 per cent from October last year, industry insiders said. Negative equity occurs when a home loan exceeds the market value of the property involved. The last time the city recorded more than 1,000 such cases was in the second quarter of 2016, when it reported 1,307 instances of negative equity. The surge could also deepen a correction in home prices in the coming months. There were 128 cases of negative equity in the three months ended December 31, ... (full story)
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The elites think we are stupid. They are in the main quite correct.
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Warning: A Dangerous Subversive: 1% of comments CoCed
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Carpe Diem