Hong Kong Violence Sends Home Prices Tumbling Over 20%, Puts HSBC In The Crosshairs

• Hong Kong Violence Sends Home Prices Tumbling Over 20%, Puts HSBC In The Crosshairs
  by Tyler Durden, https://www.zerohedge.com/
  Oct. 1 might be remembered as an important turning point for the Hong Kong property market. In the wake of riots that saw an unprecedented escalation in violence (police shot a teenager with live fire for the first time), SCMP reports that the Hong Kong property market has seen prices reduced by as much as 20%.
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  That HK property prices have been hit hard by the protests is hardly news. It’s a theme we’ve covered before. But as protests threaten to drag on into a fifth month despite a police crackdown and a new attempt by the city’s executive council to discourage protesters by banning masks – something that has, so far, only served to infuriate the protesters and encourage more violence – it’s going to be difficult to call a bottom in the Hong Kong property market, formerly one of the most unaffordable markets in the world, as many Hong Kongers flee to places like Taiwan and Malaysia.
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  Many also think just holding cash right now might be the safer alternative.
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  read more.

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