Hong Kong’s Wealthy Aren’t Buying So Many Nice Houses


The global depression rages on! This time it’s attacking the wealthy in Hong Kong. Home sales are at a 5 year year low on the island.

November hurt the luxury home market in Hong Kong as there were just 92 sales for the month, a 34% drop from October according to Bloomberg. What’s worse, at a total value of just $270 million, the November sales were worth 62% less than the October sales figures. These are the lowest totals since September 2003.