Hong Kong Homeowners Under Water Still a Fraction of 2003: Chart

Hong Kong’s negative-equity mortgages surged 15 times in the first quarter, though the number remains tiny compared to mortgages that were under water during the 2003 property slump, when the city was in the grip of the severe acute respiratory syndrome epidemic. There were 1,432 cases of homeowners with apartments worth less than their mortgages at the end of March, a fraction of the record 105,697 during SARS. Hong Kong home prices have declined almost 12 percent since August.

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