You would think we have learnt a lesson

But in Hong Kong, the government has brought in measures¹ to stem² the soaring prices of property. With the current crisis around the world and HK having gotten back from its own 1997 property bust, no wonder these heavy handed measures are brought in. The skew from all the high-end purchases are spiraling costs for sellers of more normal properties.

¹ [WSJ] New Rules Hit Hong Kong Property

² [FT] Property measures hit Hong Kong developers