atans1

When home ownership is less than 50%?

In Hong Kong, Property on 11/12/2019 at 9:00 am

There be riots?

The high cost of housing in HK

Li [a taxi driver in HK] was amazed at how “cheap” apartments in Singapore are. He lives with his parents in a one-bedroom apartment that is worth HK$6.5 million (US$830,000). He cannot afford to move out and, with his fourteen-hour days, has neither the time nor money to date.

https://sudhirtv.com/2019/11/15/a-longform-on-hong-kong-vs-singapore/

mostly due to the lack of an HDB type building programme because the property tycoons have in the past successfully lobbied against massive public housing programmes in HK.

One cheer for the PAP’s housing policy?

Public housing: a brickbat, two cheers & constructive suggestions

Hong Kong to resume subsidising housing

means that home ownership has fallen below 50% of the population.

In Singapore, home ownership is above 90%.

 

“This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises,” LKY

He believed that owning a home gave S’poreans a sense of equity, that they own a part of the city, making them care more for the community. He also felt that home ownership would give Singaporean families an asset and a means of wealth accumulation.

———————

Wealth accumulation? What wealth accumulation?

Why 30-year old HDB flats difficult to sell/ Why PAP rule will end in 2029.


Now I.m not that stupid to think that the riots in HK could have been prevented by an HDB type policy and other economic measures aimed at reducing inequality. HK people are faced with a threat to their ang moh type freedoms: Honkies behaving like spoiled brats adopted by ang mohs (Cont’d)

But more public housing could have eased tensions: Bread and circuses.

Still not too late, if HK and Chinese govts are smart. But they don’t seem to be that smart. But maybe they are worried that a massive HDB type programme will cause unhappiness with those with mortgages to service? A massive HDB-type programme will result in lower values for existing private residential homes.

You might be interested in

Why our housing valuations look decent?

If LKY were alive, PAP govt wouldn’t publicly admit that HDB leases end worth nothing

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: