Residential buildings stand in the Deep Water Bay and Repulse Bay areas. Cheap money is the single most important cause of the asset bubbles affecting real estate in many cities, and stock prices globally. Photo: Bloomberg
To fight income inequality in Hong Kong, take on the property development cartel
Philip Bowring says that the problem of Hong Kong’s income inequality can’t be solved without taking on development cartels and addressing runaway home prices, and suggests raising rates and phasing out interest relief
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Hong Kong housing
Residential buildings stand in the Deep Water Bay and Repulse Bay areas. Cheap money is the single most important cause of the asset bubbles affecting real estate in many cities, and stock prices globally. Photo: Bloomberg