Home sweet home? More like investment sweet investment in Hong Kong
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How do we put into perspective Hong Kong's property market?
On the one hand, we have parties such as
Morgan Stanley projecting that 'the decline in prices is behind us' and talking as if the decline has been an issue.
On the other hand, we still have one of the most expensive property markets in the world where 46 per cent of households live in government-owned or -subsidised housing. Think about this for a moment: in a city with the third highest number of dollar billionaires in the world, nearly half of households need government support for one of life's most basic essentials, shelter. Given this situation, why would we want housing costs to increase?
Yet the administration's measures to boost the property sector are obviously going to make housing even less affordable while propping up the wealthy.
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