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Hong Kong's House-Price Curbs Aren't Working, Carrie Lam Says

Cranes operating at a residential building construction site are seen through a fence at the Harbour Glory project, developed by Cheung Kong Property Holdings Ltd., center, in the North Point district of Hong Kong, China, on Sunday, July 30, 2017. Cheung Kong Property is scheduled to release half-year earnings results on Aug. 3.
Photographer: Anthony Kwan/Bloomberg

Hong Kong’s red-hot housing market can’t be tamed.

For the first time since taking office in July, Hong Kong chief executive Carrie Lam has said government measures to cool the world’s most-expensive property market haven’t worked.