The Home Ownership Aspiration After The 1997 Economic Downturn In Hong Kong
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Home Ownership Aspiration In Hong Kong
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Author : Suk-Fun Josephine Wong
language : en
Publisher:
Release Date : 2017-01-26
Home Ownership Aspiration In Hong Kong written by Suk-Fun Josephine Wong and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-26 with categories.
This dissertation, "Home Ownership Aspiration in Hong Kong: a Case Study on the Groups Aged 25-34" by Suk-fun, Josephine, Wong, 黃淑芬, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: The aspiration for home ownership has widely spread across the society in Hong Kong since the Long Term Housing Strategy in 1987. The government is said to be fully determined to achieve the target of 70% home ownership rate on the assumption that home ownership is the aspiration of many in the community. Through asset appreciation during economic upturn, home owners enjoy substantial wealth accumulation. Income may be generated when trading up or down the property in the housing market. Home ownership is said to foster social and political stability, and also helps families to provide future financial security. However, house price has been dropped sharply in the 1997 Asian Financial Crisis that induces "negative equity" for many home owners in the society. Their home value has depreciated to the lowest and they experience substantial wealth depreciation. Many owners blame for the government's home ownership policy. Finally, the government determines to reposition the housing policy and pledges to provide affordable public rental housing units for those in genuine need and adopted a free market strategy to let the housing market goes freely according to the demand and supply mechanism. With the booming of economic situation during the past five years, the aspirations for home ownership has been coming back again in the society, especially for the young people who are able to buy a flat under the current high house price and lack of suitable housing units in the housing market. Under this socio-economic background, this study aims at studying the home ownership aspiration of the young people. The study will be start from library research of relevant literature and papers about home ownership. After reviewing the development of home ownership policy in Hong Kong, a brief survey will be taken to conclude if the young people are aspired to become home owners. There are many socio-economic factors like age, martial status, income level, availability of suitable housing, house price, etc. that would affect the choice of their housing tenure. What factors influence the young people's choice of housing tenure most is rather complicated. The housing choice that young people made varies throughout their lives depending on different social, economic and political background. Indeed, government policy is always hinged on the public's housing aspirations and housing affordability. The formulation of home ownership policy should balance the interests of all stakeholders and ensure a healthy and sustainable development of housing market. DOI: 10.5353/th_b4834366 Subjects: Home ownership - China - Hong Kong
The Home Ownership Aspiration After The 1997 Economic Downturn In Hong Kong
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Author : Kwok-Wai Lee
language : en
Publisher:
Release Date : 2017-01-28
The Home Ownership Aspiration After The 1997 Economic Downturn In Hong Kong written by Kwok-Wai Lee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-28 with categories.
This dissertation, "The Home Ownership Aspiration After the 1997 Economic Downturn in Hong Kong: a Study on the Middle Class Aspiration and Response" by Kwok-wai, Lee, 李國偉, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. DOI: 10.5353/th_b4389551 Subjects: Middle class - Housing - China - Hong Kong Home ownership - China - Hong Kong Recessions - China - Hong Kong
The Home Ownership Aspiration After The 1997 Economic Downturn In Hong Kong
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Author : Kwok-wai Lee (M.Hous.M.)
language : en
Publisher:
Release Date : 2003
The Home Ownership Aspiration After The 1997 Economic Downturn In Hong Kong written by Kwok-wai Lee (M.Hous.M.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Home ownership categories.
A Study Of Housing Needs And Aspirations Of Young Singletons In Hong Kong And Their Expectations On The Government
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Author : Kin-Kwan Lau
language : en
Publisher: Open Dissertation Press
Release Date : 2017-01-27
A Study Of Housing Needs And Aspirations Of Young Singletons In Hong Kong And Their Expectations On The Government written by Kin-Kwan Lau and has been published by Open Dissertation Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-27 with categories.
This dissertation, "A Study of Housing Needs and Aspirations of Young Singletons in Hong Kong and Their Expectations on the Government" by Kin-kwan, Lau, 劉建群, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Housing has ever been the major concern of Hong Kong people. The housing prices of Hong Kong have fluctuated up and down largely in the past two decades. Housing prices reached a new record high in December 2013. Although the housing prices slide down slightly in recent months, they remain at very high level. Private housing became more and more unaffordable to Hong Kong people including the middle class. Many Hong Kong people resort to public rental housing (PRH) to meet their housing needs. As at the end of 2013, there were about 122,200 for non-elderly one-person applicants under Quota and Points System (QPS) and that were even more than 121,100 for general waiting list applicants. This reflects the large housing needs of young singletons for one-person household flats and alarms the public and the government of the serious shortage of housing for young singletons. The housing needs and aspirations of young singletons have ever been marginalised by the government that can be indicated by the housing policy carried out in Hong Kong. Singletons aged 21 or over have only been allowed to apply for PRH since 1985. However, the priorities of allocating PRH are given to family households, elderly and the disadvantaged. The successful housed number of non-elderly one-person applicants in permanent public rental housing increased from only 125 in 1996/1997 to 3,700 in 2004/2005. The implementation of QPS since 2005 has greatly restricted the access of PRH by young singletons because the allocation of PRH is mainly on the basis of age and subject to the annual maximum allocation quota of 2,000 units. On the other hand, singletons have only been allowed to apply for purchase of subsidised sale flats and home purchase loans for purchase of self-occupied flat since 1998. All these are restricted by limited quota, size of flats to be purchased and half of the loans granted to general family applicants. Following the cease of various subsidised sale schemes and home purchase loans from end of 2002, the assistance to singletons to purchase their self-occupied flats also has stopped. From the perspective of housing policy in developed countries, government interventions in the housing market have been reduced for the past few decades especially after Asian Financial Crisis and Global Financial Tsunami. Governments of western countries and developed countries of Asia have shifted to adopt more market oriented housing policy and to encourage homeownership since 1990s. Governments emphasize provision of social rental housing to those in need. People living in social rental housing have then been stigmatized. Consequently, housing prices in these countries have been fluctuating up and down largely and supply of housing has not been matched by the needs of people. Accessibility to social rental housing by young singletons is dampened. Shortage of affordable housing affects young singletons seriously. Many young singletons tend to stay longer at parental home as what Yamada (1999) described as "parasite" single. Mckee (2012) finds that it is an international phenomenon of reducing self-occupied homeownership rates for young people as more young people staying with their parents, studying longer, having difficulty in getting employments, facing restriction on accessing state welfare benefit and in changing household formation. In acknowledgi
Homeownership In Hong Kong
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Author : Chung-kin Tsang
language : en
Publisher: Routledge
Release Date : 2021-05-24
Homeownership In Hong Kong written by Chung-kin Tsang and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-24 with Political Science categories.
This book studies the cultural framework of the connections between homeownership and social stability in Hong Kong. In the post-war period, homeownership became the most preferable housing choice in developed societies, such as Australia, Britain, Japan, Spain, and the United States. In the financialization era, its proliferation aggregated enormous wealth and debt in the housing and mortgage markets, affecting social stability by creating inequality and housing unaffordability. Hong Kong is the most extreme example of this among developed societies – in recent years, the city has made international headlines both for its housing problem and its social instability. By studying the history of homeownership in Hong Kong over a period of four decades, Chung-kin Tsang proposes that homeownership is inseparable from the social imagination of the future, conceptualizing this framework as "hope mechanism". This perspective helps trace the connections between ‘House Buying’ as a hope mechanism – one which is central to subject formation, life goals, and temporal mapping for socially shared life planning – and social stability. Given its unique approach, specifically its use of "hope" as an analytical category, this book will prove to be a useful resource for scholars in economic culture and financialization, and Asian Studies, especially those working on the cultural, sociopolitical, and economic history of Hong Kong.
The Housing Challenge In Emerging Asia
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Author : Matthias Helbe
language : en
Publisher:
Release Date : 2016
The Housing Challenge In Emerging Asia written by Matthias Helbe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business & Economics categories.
The Housing Challenge in Emerging Asia: Options and Solutions provides new insights and ideas to best design and implement housing policies aimed at improving access to affordable and adequate housing. The book offers an innovative theoretical framework to conceptualize and analyze various housing policies. It also critically reviews housing policies of various countries and draws lessons for others. The countries studied include advanced economies within and outside Asia, such as Japan, the Republic of Korea, Singapore, Switzerland, the United Kingdom, and the United States, as well as emerging countries within Asia, such as the People's Republic of China and India.
The Asian Financial Crisis And The Ordeal Of Hong Kong
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Author : Y. C. Jao
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 2001-06-30
The Asian Financial Crisis And The Ordeal Of Hong Kong written by Y. C. Jao and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-06-30 with Business & Economics categories.
Victim, not instigator of the Asian Financial Crisis, Hong Kong was the only economy that succeeded in defending its fully convertible currency, indeed its entire financial system, against speculators, but the price it paid for success has been deep recession. Jao gives an objective, even-handed account and analysis. Without political or ideological preconsiderations he shows how Hong Kong authorities handled their intervention in the equity market in August 1998. Explaining the conventional wisdom that no fixed exchange rate regime can hold out for long against massive speculation. He goes further to show that Hong Kong contributed not only to the eventual easing of the AFC, but to economic stability throughout Asia as well. Jao opens with a discussion of the nature, causes, and consequences of the AFC. After an overview of Hong Kong's economic and financial fundamentals on the eve of the crisis, he examines the impact it had up close. He examines the massive speculation against the Hong Kong dollar, explaining why speculators were defeated. The AFC's impact on the assets market are also explored. He also analyzes the impact on the financial sector and the real economy. Jao studies and answers two hard questions: why was the economic downturn so severe and why was the territory initially a laggard in economic recovery? He then takes up China's role, and presents an objective, balanced view of Hong Kong's money and finance under Chinese sovereignty, followed by a discussion of how China herself coped with the AFC. The book concludes with an in-depth discussion of the lessons the AFC has taught us and the author's reflections on post-AFC issues.
Making Hong Kong
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Author : Pui-yin Ho
language : en
Publisher: Edward Elgar Publishing
Release Date : 2018-09-28
Making Hong Kong written by Pui-yin Ho and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-28 with Political Science categories.
This insightful book provides a comprehensive survey of urban development in Hong Kong since 1841. Pui-yin Ho explores the ways in which the social, economic and political environments of different eras have influenced the city's development. From colonial governance, wartime experiences, high density development and the return to Chinese sovereignty in 1997 through to contemporary challenges, this book explores forward-looking ideas that urban planning can offer to lead the city in the future. Evaluating the relationship between town planning and social change, this book looks at how a local Hong Kong identity emerged in the face of conflict and compromise between Chinese and European cultures. In doing so, it brings a fresh perspective to urban research, providing historical context and direction for the future development of the city. Hong Kong's urban development experience offers not only a model for other Chinese cities but also a better understanding of Asian cities more broadly.Urban studies scholars will find this an exemplary case study of a developing urban landscape. Town planners and architects will also benefit from reading this comprehensive book as it shows how Hong Kong can be taken to the next stage of urban development and modernisation.
Social Policy Reform In Hong Kong And Shanghai A Tale Of Two Cities
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Author : Linda Wong
language : en
Publisher: Routledge
Release Date : 2016-07-22
Social Policy Reform In Hong Kong And Shanghai A Tale Of Two Cities written by Linda Wong and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-22 with Mathematics categories.
As the richest cities in the world's most populous nation, Hong Kong and Shanghai have recently experienced dynamic growth spurred by more and better-managed capital. These cities also have social problems whose solutions will cost money. Their urban populations are aging. Health finance at the level these "First World" cities demand threatens to consume a large portion of the municipal budgets. Eldercare and social security are now less well covered by traditional Chinese families. Education has become more complex and public tuition, where it occurs, brings with it official plans for schools. Immigrants have flocked to Shanghai from inland China, and Hong Kong's border has become a protector of the former colony's high productivity jobs. Housing problems also have deeply affected both cities, albeit in somewhat different ways. This book provides a comprehensive overview of the similarities and differences between social policies in the two cities. Each chapter covers a different issue: health finance, housing, education, labor, poverty and social security, eldercare, and migration and competitiveness. The contributors explore pertinent developments in each city and analyze the similarities and differences between the two cities' approaches to social policies. They focus on policy reform and the interface between social policy and its environment. One main theme throughout the book is the extent to which spending for capital accumulation is in conflict with spending for social policies.
Developmentalist Cities Interrogating Urban Developmentalism In East Asia
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Author :
language : en
Publisher: BRILL
Release Date : 2018-11-26
Developmentalist Cities Interrogating Urban Developmentalism In East Asia written by and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-26 with Business & Economics categories.
The inter-disciplinary contributors to Developmentalist Cities offer a richly nuanced and critical account of how the urban has been integral to East Asian developmentalism, and, vice versa, how developmentalism has profoundly shaped the nature of the urban in East Asia.