peter236

While that same situation is happening both in HK and in Vancouver (actually, it's happening all ov ...
Lik 發表於 2010-4-29 12:03

The situation is Hong Kong is totally different. Since most people live in highrises, and only big land developers can afford to buy a piece of land for building. It gives people the impression that the big developers control the market.
Here in Vancouver, you can buy a piece of land and build your own house, if you can afford.

In Hong Kong, the government provides public housing. Here, the government does not care and social housing is being cut again at the Olympics village.   
Here the government only cares to increase the taxes, while cutting social housing, and cutting the number of school days for the students.

In Hong Kong, the government actually reduces the property taxes for apartment owners during the financial crisis.
Hong Kong government has already increased the supply of land for building apartments to deal with the demand.
Here the government does nothing to deal with high real estate prices.

Also, Hong Kong government has no debt, while the Canadian government has tons of debt at all levels, and even the school boards are in debt. Chances they are going to be like Greece, i.e. go bankrupt.

MAXIMUS

回復 41# mukmuk2

you ask LYK to trust u and not listening to u ?
I know Lik gor is a prof, but how bout others?
can they trust me?

MAXIMUS

I'm an alien

peter236

I do agree that Hong Kong or Asian countries have better public transportation system than Vancou ...
mukmuk2 發表於 2010-4-29 07:32

What you said is not true. There are immigrants from all over the world, not only from China.

Lik

The situation is Hong Kong is totally different. Since most people live in highrises, and only big land developers can afford to buy a piece of land for building. It gives people the impression that the big developers control the market.
Here in Vancouver, you can buy a piece of land and build your own house, if you can afford.
peter236 發表於 2010-4-29 13:07

Gesh... if you don't know squat, shut your trap and don't mislead other people la. After 老懵懂 destroyed the housing market with his 85000 housing policy, the HKSAR government has suspended building new public housing. On top of that, the government completely controls the amount of "new" land that is available to developers, and they have been intentionally keeping the supply low to maintain high real estate property prices.
At this point, even some of the property developers are realizing that the trend of no affordable / public housing is doomed to fail. At least one of the developers (don't remember which one, but it might be 新鴻基) have suggested the SAR government to re-start the building of public housing projects.

The harsh reality is, a typical working-class person in Vancouver can still afford to buy real estate property, although chances are, the unit will be a smaller apartment / condo / townhouse that is a little further away from the city centers. This is clearly reflected in the robust housing market that we've seen since Q1 of 2009. On the other hand, a typical working class person in HK has very little chance of buying themselves a flat because prices are sky high.

-Lik

peter236

Gesh... if you don't know squat, shut your trap and don't mislead other people la. After 老懵懂 des ...
Lik 發表於 2010-4-29 13:29

You moron, the 85000 housing policy has nothing to do with the housing prices. There never was a supply of 85000 units.
It was the Asian financial crisis that cause the British-created housing bubble prices to crumble back then.

It is funny that morons like you blamed the government for low prices back then, and now you are blaming the government for high prices.
The HK government needs to control the amount of "new" land that is available to developers, so that the prices can be maintained and even go up steadily. Isn't that what you want? You people who complained about falling prices and negative equity back then.

But, the supply of land in HK is not totally controlled by the government. There have been many private sales of private land for redevelopment of certain areas.

Which country's government does not control the amount of "new" land? Why doesn't the Canadian government release more new land for building?

Today, in the US 20% of their mortgages are negative equity. That means the property are worth less than the amount owed to the banks. Back then in HK, only 3% of mortgages were negative equity.