Which developer ever claim or admit their new launch booking is poor?

Then property overhang, developer unsold units and napic data is fake news.

When a hedge funds leverage 1:2 on a highly liquidity assets is generally considered high risks. What's more leverage 1:9 on a illiquid assets.

Accounting, finance and economic like science and mathematics could apply universally and doesn't limit or restrict by culture.

what's wrong with teaching? some central bankers teach after retiring, and many central bankers were academics.

The difference between the west and the east on buying property is not culture but social welfare. Most Western countries have social welfare to provide council housing, old aged home, etc and it is not a necessity to own a house at old age.

Real life is indeed more interesting and challenging than acedemic. It is sad to see so many are mislead and chasing something unrealistic.

Should tell these to the herd blinded by greed. It is a no wonder that most herd end up in slaughter house.