Many workers are facing the problem of either having their house re-possessed for non-payment of mortgage arrears or cannot get enough money together to put up a deposit on a first home. No such problem exist for the international capitalist class. "A luxury Hong Kong apartment in a Frank Gehry-designed building has sold for an eye-popping price of nearly $60 million, the property developer said Tuesday, the latest sign of the city's overheated housing market. ..... The sale comes amid growing concern over surging property prices in Hong Kong driven by ultra-low interest rates and an influx of wealthy mainland Chinese buyers. Prices have doubled since the end of the global financial crisis in 2009, according to a widely watched index." (Associated Press, 13 November) RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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