Chapter 601 - 584: Money is the Most Practical
This time, the Hang Seng Index is quite interesting. There’s a single-day drop of 11%, and a single-day rise of 9%. It goes up and down like a roller coaster, but overall, the Hang Seng Index is declining.
This roller-coaster ride of the Hang Seng Index has a huge aftereffect, that is, many people have doubts about Hong Kong’s economy and future. Suddenly, many consulates in Hong Kong are overcrowded with people coming to inquire or handle immigration procedures.
To immigrate, one certainly has to deal with their property, leading to sales agents at major sales offices idling and dozing off, while agencies are bustling with people eager to sell their properties.
As the immigration trend rises, some people take the opportunity to spread rumors. Even the media joins in, saying the rich are fleeing, and soon Hong Kong will be left with only poor people, and the economy will languish in the future. It’s a vicious cycle, and even some who previously held firm positions are beginning to feel fearful and waver.
Yu Meitong called Lu Jiaxin, saying, "Boss, the house prices have dropped by thirty percent now. Do you think it will really be like the newspapers say, that Hong Kong’s houses will be worthless?"
Hong Kong houses worthless? If it were in later years, many people would see such news as a big joke. But being in the midst of it, Lu Jiaxin knows many people believe it. Firstly, many British and some foreign companies are indeed relocating, and secondly, there’s distrust in the Mainland government.
Out of fear, many middle class or those with some assets are trying to immigrate by any means. As a result, after one or two decades, when they return, they find they can no longer gain a foothold in the city.
Lu Jiaxin didn’t offer comforting words, she just told her one thing: "The funds in Xinxin Real Estate, leave fifty million for daily operations, and I’m going to use the rest to purchase property and hoard land."