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The service sector is pretty huge, particularly education and tourism. I'm more concerned about what will happen when the long-running property bubble pops, be
by jpatokal 9y ago
The service sector is pretty huge, particularly education and tourism.
I'm more concerned about what will happen when the long-running property bubble pops, because this is propping up huge swathes of the economy (construction, banking, etc) and a lot of people have made financially insane decisions as a result. Lots of people in their twenties holding multi-million property portfolios, where rental income doesn't even cover mortgage payments, because all you need to do is get on the "property ladder" and watch real estate prices go up 15% a year forever...