Handling with property bubbles must be cautious ! Jumpstart the real estates from the bottom could not be easy task or guarantee ! Confidence is confidence !
For latest references, see the Spainish and the U.S. properties market. Inside the U.S., if that is true, there is still about 2.37 million existing houses for sales ! If there is no mistake, its properties have peaked in mid June 2006 ! For Spain, the unemployment rate is now greater than 22% which is higher than that in 1994/1995 !
We can also refer to the latest news about the profits/losses of major steelmakers in the PRC, they are still facing the soft landing of the local real estates...
It means there is a long way to go in accordance with experiences in HK from 1997 to 2003/1Q. Particularly, this time is very complicated ! We have many Zero-Interest Policies & Debt Bubbles found in the advanced countries. Again, buying a house in HK still depends on affordability, not our government.