vitaminbandit
Joined 10 years ago
Joined 10 years ago
Chinese money is flooding into Hong Kong and it's all being parked into real estate. This has sent real estate prices skyrocketing and far outside the reach of ordinary citizens. As a secondary effect, Hong Kong elites are now parking all their money into real estate with the expectation that the Chinese capital flight continues to drive up real estate prices. Real estate is the best investment available in Hong Kong right now. Bar none.
With all their capital tied up in real estate, the elites don't invest in startups or R&D. No increases in productivity, no new jobs, no gains for the average citizen in a city that grows more expensive by the day. This is why Hong Kong is in decline. This is why Hong Kongers takes to the streets. It's not a backlash towards conflicting political ideology, they just want the Chinese and their damn money out.