London and Hong Kong Facing Housing Bubble Risk, UBS Says

San Francisco, London and Hong Kong are the cities most at risk of a housing bubble as real estate begins to look overvalued, according to UBS Group AG.

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Interesting concept of proposed government regulation to ward off speculative purchases in housing by investors. Whether it is rent control or limited investor purchases, squelching real estate investments could change the market significantly. Free markets accept the gain and loss of speculative purchases. Should housing be protected from speculative purchase as the bubble burst is more far reaching then other trade purchases? What do you think?