Posted by
Bluebutton
17 yrs ago
There is alot of speculation that the mortgage crisis in the US will affect property prices here. Does anyone have a view on this. I am currently negotiationg a purchase and am very concerned that this is the wrong time to buy.
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subprime in the US will not directly affect HK property. the only thing that would affect HK property is if there was a sustained downturn in the financial services industry, which itself is tied to China's economy. In other words, if you believe China will keep growing, HK will also only get better. some say subprime will cause Chinese exports to decline, which would in fact cause the Chinese economy to slow, but realistically, (IMHO) China exports mainly low end goods and necessities, stuff that Americans have to buy even if the sky fell down. China doesn't export things like BMWs or IPhones or oil.
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bluebutton - my setiments exactly. I have just pulled out of a purchase as I feel the same way as you. Decieded to hold on a bit.
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