23.05.2011 - Hong Kong: Property cooling steps would be welcomed
Former Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong thinks we should not restrain mainland residents from buying local property in spite of escalating home prices. I can only half agree with him. Free market principles would decree that we do not limit the right of mainlanders to buy property in the city. When supply falls, housing prices will naturally rise. But then demand will eventually drop due to the high prices..............................................Full Article: Source
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