Housing Bubbling Like 2008 on $4 Trillion Stimulus: Mortgages
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Jean Liu’s plan to buy a Hong Kong apartment was derailed by the 2008 global financial crisis. It was an opportunity lost as prices surged instead of dropping as they did in many of the world’s property markets, leaving the 32-year-old corporate banker still searching for an affordable home four years later.
“I originally set my budget at HK$3 million,” or $390,000, Liu said by telephone. “Now that’s barely enough for a down payment.”