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Could You Live In A Zoo? Hong Kong's Cage Dwellers [View all]
This was filmed in 2009, but the problems described have only gotten worse. The waiting list for public housing, cited as over 100K in the clip, is now 200K. Hong Kong has ranked #1 worldwide in unaffordable housing, with home prices 15X average incomes:
"It is impossible for the salary income to catch up," said Polytechnic University real estate professor Eddie Hui Chi-man.
He said property prices had surged sharply while the government "didn't increase the land supply" and only resumed the Home Ownership Scheme for flats in October 2011, after it was suspended for nine years. In 2012, property prices jumped more than 20 per cent.
Hui believes the housing problem will remain serious over the next two years as new housing supply will not increase significantly until 2016.
http://www.scmp.com/property/hong-kong-china/article/1410730/hong-kong-ranks-worlds-no-1-most-unaffordable-housing?page=all
He said property prices had surged sharply while the government "didn't increase the land supply" and only resumed the Home Ownership Scheme for flats in October 2011, after it was suspended for nine years. In 2012, property prices jumped more than 20 per cent.
Hui believes the housing problem will remain serious over the next two years as new housing supply will not increase significantly until 2016.
http://www.scmp.com/property/hong-kong-china/article/1410730/hong-kong-ranks-worlds-no-1-most-unaffordable-housing?page=all
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