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The Hong Kong Housing 'Bubble' and the Foreign Exchange Rate

Kun Li

出版	SSRN, 2018
URL	http://books.google.com.hk/books?id=5QEBzwEACAAJ&hl=&source=gbs_api

註釋

Housing prices in Hong Kong have been rising for more than a decade and recent hikes are mainly driven by Mainland developers in the primary market. Local developers and residents seem to be relatively conservative as the prospects for the Hong Kong housing market have been dim due to low affordability and the demographic situation. When the “bubble” collapses, it is highly likely that Mainland developers will be hit the hardest and local players will limit their losses. However, the sharp drop in Hong Kong housing prices will attract short sellers who could leverage the weakness in the Hong Kong currency-peg system. The selling pressure on the HKD and stocks could push up local interest rates and create real and more severe economic damage.