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Housing Lessons For The U.s.: The Case Of Hong Kong

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http://www.bcaresearch.com/public/story.as...RE-20070320.GIF

Hong Kong’s severe housing recession in the late 1990s did not inflict major financial sector damage.

Hong Kong suffered a massive housing slump following the onset of the Asian financial crisis in the late 1990s, with house prices declining by more than 60% peak-to-trough (prices bottomed in mid-2003). Mortgage delinquencies rose sharply as a result, from 0.3% of the value of outstanding loans in mid-1998 to a peak of 1.4% in 2001. However, at the depth of the housing recession, mortgage loan write-offs were only about 0.3% of outstanding loans, limiting any damage to the Hong Kong financial system. The U.K. and Hong Kong examples highlight that even dramatic declines in house prices do not trigger major increases in mortgage defaults.

PRE-20070320.GIF

Looking for something else and found this.

It appears that according to this a housing crash doesn't bring about a financial crash, so we can all sleep easy tonight.

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http://www.bcaresearch.com/public/story.as...RE-20070320.GIF

PRE-20070320.GIF

Looking for something else and found this.

It appears that according to this a housing crash doesn't bring about a financial crash, so we can all sleep easy tonight.

I don't know if they can be compared side by side like that so easily as there are far too many variables to consider, such as cost of living /transport etc, HK vs UK are worlds apart, in just those two variables alone.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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