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Government ready to unwind curbs

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  1. #1

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    Government ready to unwind curbs

    Article by SCMP here.

    Really? Four months after introducing the speculation curbs, it seems as if they already are looking to get rid of them.

    Honestly, how are younger people, who don't earn ridiculous salaries expected to buy a house for the first time?

    dear giant, Gatts and drumbrake like this.

  2. #2

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    HK government is made up of a bunch of clueless twats.


  3. #3

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    Quote Originally Posted by pin:
    HK government is made up of a bunch of clueless twats.
    And their only objective is to suck up to property developers.
    dear giant and Watercooler like this.

  4. #4

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    Quote Originally Posted by mlclau:

    Honestly, how are younger people, who don't earn ridiculous salaries expected to buy a house for the first time?
    I am always wondering why it is expected in HK that a 20 something years old own a place...it's not the norm in most countries that I know, so why in HK is it regarded as a "right"?

  5. #5

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    Quote Originally Posted by Mat:
    I am always wondering why it is expected in HK that a 20 something years old own a place...it's not the norm in most countries that I know, so why in HK is it regarded as a "right"?
    Because they're not French. As you often say you're in HK now, get used to it.

  6. #6

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    Hardly news in my opinion, not surprised at all. The gov has always been beholden to the real powerholders in Hong Kong, the property developers. The problem has always been that the gov's failure to distinguish between what is good for their property buddies (with promise of cushy jobs after official retirement from the civil service) and what is good for the average Hong Konger. The gov is accountable first and foremost to Beijing and the property holders. Accountable to the Hong Kong people? Please, who are we kidding.

    And it will remain so if Henry Tang becomes the next CE. Speaking of which, the pro-establishment faction is now doing their best to smear rival Leung as we speak. So looks like we'll be getting another Tung Chee Wah in the guise of Henry Tang. But come to think of it, that might not be such a bad thing. It was Tung's incompetence that trigger greater demands for pro-democracy. So Tang can actually help spur greater democratization in Hong Kong!

    Last edited by Watercooler; 09-12-2011 at 11:35 AM.

  7. #7

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    Cue Randy with his "Hong Kong property is the correct price and is affordable" argument....

    Edit: By the way I was 22 when I bought my first house, a good-sized 3 bedroom Victorian terraced house, Mr SS was 21 when he bought his.

    Last edited by Satay Sue; 09-12-2011 at 11:39 AM.

  8. #8

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    Quote Originally Posted by Mat:
    I suppose this is a cultural thing or maybe due to a lack of safety net (ie poor retirement scheme...) but I would like to understand better why (from local ppl, not expat who think they know better, like you (and your friend the Brit apparently)).

    I have asked my wife and the usual answer is "retirement" but genuinely interested to know others local opinion on this.
    Hi Mat,

    I'm not local. But I do remember when discussing money matters with my last estate agent, shes like " ohhh I am just saving every penny to by my own apartment"

    In my office most locals laugh at us foreigners thinking we are stupid to be throwing money on rent.

    Once we were discussing Gold as an investment, I mentioned to my boss Chinese like Gold - he whispers we like property even more.

    Long term its a good investment, HK property fundamentals are intact.

    But places like Switzerland where there is no shortage of space or even my home country where owning a property can be a liability - people aren't bothered.
    Last edited by bak875; 09-12-2011 at 12:13 PM.
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  9. #9

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    Quote Originally Posted by Mat:
    I am always wondering why it is expected in HK that a 20 something years old own a place...it's not the norm in most countries that I know, so why in HK is it regarded as a "right"?
    I never mentioned that it was a "right".

    What i'm trying to get at is why the Government isn't looking out for the majority of the population (the ones who don't earn ridiculous salaries). Take in mind that these people were born and grew up here and don't have the option of packing their bags and living abroad.

    There simply aren't any options aside from living with your folks or joining the crazy queues for public housing options / government subsidised housing. It's a joke.

  10. #10

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    Quote Originally Posted by mlclau:
    I never mentioned that it was a "right".

    What i'm trying to get at is why the Government isn't looking out for the majority of the population (the ones who don't earn ridiculous salaries). Take in mind that these people were born and grew up here and don't have the option of packing their bags and living abroad.

    There simply aren't any options aside from living with your folks or joining the crazy queues for public housing options / government subsidised housing. It's a joke.
    Hence the "-" I used.

    "right" was used because that is what many HK ppl seem to feel...

    In any case I am out of this dicussion since clearly the Editor is having an issue so I let you folks discuss.

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