Andy Xie, an independent economist said on CNBC today, "HK property is actually more risky than China."
Bernard Lo of CNBC was taken aback and he queried why it is so.
Andy said property owners in Hong Kong, who are hanging on to their property, are hoping for some stupid and wealthy mainlanders to come and pay them millions of dollars for their CONCRETE BOXes.
I am wondering whether the same phenomenon is also happening in Singapore.
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