24.06.2011 - Hong Kong property: Did you see the crash coming in 1997?
Human being is not particularly good at learning from history. Either we havenít lived long enough to live through every moment of it, or we just forget what we have lived through. The terrible property crash of 1997 led to almost 70% drop of home prices in nominal terms for 6 consecutive years. Today, many analysts are still very bullish (with Andrew Lawrence as the early exception), and are trying hard to explain why property prices today canít drop, and how much healthier the market is today relative to 1997...............................................Full Article: Source
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