Scratching my head on this one ... Bass seems rather late to call this one. But, here goes ...

  • Hong Kong's property market is in "free fall" & the credit expansion in Southeast Asian emerging markets will unravel
  • "Hong Kong's in a worse position than it was in prior to the '97 crisis today"
  • Says credit in Asian emerging markets has grown "recklessly"
  • Hong Kong property prices have declined and sales are hovering near a 25-year low
  • Home prices have dropped about 13 percent from a peak in September, according to data compiled by Centaline Property Agency Ltd

This via Bloomberg , more at the link from KB