live frugally "for banks to work"

In the property market in the winter, rise across the country went on a "check-activist" hot value owners play banner to crusade against developers, their sit-ins, marches and even smashed sales center, two months to experience check out no fewer than ten place complex disputes. Owners hurriedly "activist" campaign on the network and do not have enough sympathy, but caused a mockery. Some scholars recognizeHousing rights violation of the spirit of the modern contract, media appeal to return to rational. 　　In fact, Japan United States the people of Hong Kong earlier than the Mainland of China experienced a burst of the bubble process, facing decline in house prices, and they do? "Author" of the International Herald Tribune reporter Su Xiaoyang jianguoyina from Hong Kong, Washington DC, Tokyo Hong KongHong Kong: live frugally "for banks to work", of the International Herald Tribune article recently, a correction in the property market in Hong Kong, property prices high May gradually decline, once again, the problem of negative assets has caused public concern. (Note: refers to the total price of the House in negative equity fell to low than the loan amount, such as 1.5 million buyers, loan of 1 million, when housing prices fall to 900,000, appeared in negative equity。 ) Published recently by the Hong Kong Monetary Authority figures show that the third quarter of this year of "negative assets" mortgage numbers by quarter surged 33. 　　4 times to 1653, and back up to nearly 9 quarter highs. Bring "negative assets", many Hong Kong people have painful memories. In 1997 because of excessive property speculation and excessive lending during the Asian financial crisisUnder the impact, massive withdrawal of foreign investment in Hong Kong, Hong Kong property market crash, only a year, property prices decrease by more than half, and then in decline for over 5 years, cumulative decline in property prices compared with the peak in 1997, up to about 70%. Hong Kong's leading real estate agency centaline property Research Division Director Huang, Liang Sheng described to reporters at the time swtor credits, "speculation is really crazy,Mortgage rate of 10 per cent are fried, mortgage and household income ratio up to 120% at that time, if not food doesn't sell, mortgage, do you think is not too crazy, some flats sold ten degrees. "Because of accumulating too much risk in the market, under the massive withdrawals of foreign investment, market choujin, the property market bubble is bursting. Free fall in property prices decline in submerged, according to measurementsSecondary market price movements in the Central Plains of Hong Kong real estate index shows that in a year from October 1997 to October 1998, second-hand housing prices in Hong Kong fell 52%. According to the Hong Kong Monetary Authority information, during the June 2003 is the most serious problem of negative assets, at that time there were about 105,697 cases of mortgage loans in negative equity, 22% per cent of all mortgages, involving goldAmount of $ 165 billion (HK $ 1 about 0.81 million). Among the "negative-value" assets, Hong Kong famous psychiatrists of Zeng Fanguang has been reported many times. Zeng Fanguang monthly income of HK $ 100,000 at that time, even the poor to no money to buy food, only young children wear conceal belly clothes. Beginning in 1998, he had in all the major newspapers write a columnOpen source repaid mortgage. "A lot of negative assets households in order to pay off his debts, only clothing, returned almost all money available to banks, social atmosphere in deep, stagnant consumption, the economic downturn. 　　"Huang, Liang Sheng said, it was also committed suicide. In the property market downturn for up to 6 years, the SAR Government to stabilize the property market, has introduced a number of measures toIncluding sale of public housing and home ownership scheme flats, stopping active land, as well as revocation of security of tenure, to the private rental market to operate freely. Huang, Liang sheng believes that genuine rebound in the property market from the bottom of the economic pull effect on Hong Kong was the Mainland, it is the Central Government in Hong Kong during the 2003 SARS epidemic the implementation of the Mainland and Hong Kong closer economic partnership arrangement and the "individual visit"Policy, thorn live Hong Kong's economy, Hong Kong economy in 2004, out since November 1998, 68 months of deflation. Although makes life in trouble because of negative equity, but according to Huang, Liang Sheng introduction swtor power leveling, then owners of negative assets and very few cases of mortgage foreclosures, ratios less than 2%. "Bankruptcy is not much. First still have income,Have savings, then there is the virtues of the Chinese people, and do everything possible to return the money on, of course, the laws of Hong Kong will not allow deny ". ()