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Author: Ming-Kin Kam
Publisher: Open Dissertation Press
ISBN: 9781361362976
Category :
Languages : en
Pages :
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This dissertation, "Home Ownership Aspiration in Hong Kong: a Case Study of Family Financing in Home Owning" by Ming-kin, Kam, 甘銘堅, 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: Many studies focus on the housing decisions of younger generation mainly on the households' individual level such as affordability, house prices, income, interest rate and the relative costs of owning. However, the family financing is also another indispensable factor to affect the decision of home-owning. The home buyers save for several years to accumulate the down payment, but it will be nibbled up by the rising of home prices. Such rapid increases in house prices will make home-owning more difficult for home buyers, especially for first-time buyers. They may seek a loan from a family member to use as part of the down payment in order to achieve homeownership. Forrest and Murie (1995) noted that family support in home owning may take an important contribution in home-ownership sphere. Moreover, many scholars pointed out that family financing is particularly important where housing prices are high, financial institutions are unwilling to provide mortgage loans or requiring high-ratio of down payment and government subsidies are not available. (Barrios, Colom and Moles, 2013; Engelhardt, 1996; Engelhardt and Mayer, 1994; Forrest and Murie, 1995; Meen, 2013; Mulder and Wanger, 1998; Ost, 2012). In Hong Kong case, parents give a finance support to their children for paying the down payment can be easily found in mass media. More significantly, the number of cases for parents getting direct involvement in helping children for home owning are largely increasing. Looking at the house price was increased 15% in average annually during the period of 2010-2012. Many parents have expectations that the house price will keep rising. If you do not buy it now, then you may not possible to afford this very soon. In this paper, we will explore how importance the family support for home-owning, the kind of financing modes are adopted for the parent and the reasons for the parent to provide financing support in helping their children's homeownership. DOI: 10.5353/th_b5334623 Subjects: Home ownership - China - Hong Kong - Finance
Author: Ming-Kin Kam
Publisher: Open Dissertation Press
ISBN: 9781361362976
Category :
Languages : en
Pages :
Get Book Here
Book Description
This dissertation, "Home Ownership Aspiration in Hong Kong: a Case Study of Family Financing in Home Owning" by Ming-kin, Kam, 甘銘堅, 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: Many studies focus on the housing decisions of younger generation mainly on the households' individual level such as affordability, house prices, income, interest rate and the relative costs of owning. However, the family financing is also another indispensable factor to affect the decision of home-owning. The home buyers save for several years to accumulate the down payment, but it will be nibbled up by the rising of home prices. Such rapid increases in house prices will make home-owning more difficult for home buyers, especially for first-time buyers. They may seek a loan from a family member to use as part of the down payment in order to achieve homeownership. Forrest and Murie (1995) noted that family support in home owning may take an important contribution in home-ownership sphere. Moreover, many scholars pointed out that family financing is particularly important where housing prices are high, financial institutions are unwilling to provide mortgage loans or requiring high-ratio of down payment and government subsidies are not available. (Barrios, Colom and Moles, 2013; Engelhardt, 1996; Engelhardt and Mayer, 1994; Forrest and Murie, 1995; Meen, 2013; Mulder and Wanger, 1998; Ost, 2012). In Hong Kong case, parents give a finance support to their children for paying the down payment can be easily found in mass media. More significantly, the number of cases for parents getting direct involvement in helping children for home owning are largely increasing. Looking at the house price was increased 15% in average annually during the period of 2010-2012. Many parents have expectations that the house price will keep rising. If you do not buy it now, then you may not possible to afford this very soon. In this paper, we will explore how importance the family support for home-owning, the kind of financing modes are adopted for the parent and the reasons for the parent to provide financing support in helping their children's homeownership. DOI: 10.5353/th_b5334623 Subjects: Home ownership - China - Hong Kong - Finance
Author: Suk-Fun Josephine Wong
Publisher:
ISBN: 9781361293577
Category :
Languages : en
Pages :
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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
Author: 黃淑芬
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages : 101
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Author: Sau-Ching Regina Tang
Publisher:
ISBN: 9781374812574
Category :
Languages : en
Pages :
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This dissertation, "Home Ownership Aspiration in Hong Kong: a Case Study of the Middle Income Groups" by Sau-ching, Regina, Tang, 鄧秀淸, 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_b4389448 Subjects: Middle class - Housing - China - Hong Kong Home ownership - China - Hong Kong Middle class - China - Hong Kong - Attitudes
Author: Dik-Lun Yeung
Publisher:
ISBN: 9781361015759
Category :
Languages : en
Pages :
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This dissertation, "Home Ownership Reality and Aspiration in Hong Kong (2008-2013)" by Dik-lun, Yeung, 楊狄麟, 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 of home ownership has widely spread across the society since HOS being launched in 1976 and a series of home ownership programmes launched in the subsequent years. Through appreciation of housing during economic booms, home owners experience substantial wealth accumulation. Trading up and down the property acquired, a new source of income generated. To stabilize the social and political situation, the government believes that home ownership is the most desirable tenure in Hong Kong. From 2008 to 2013, the housing price has been increasing significantly, leading to people have high aspiration on home ownership, especially for middle-income people. For low-income people, they are eligible for applying PRH. And for high-income people, they are financially available for acquiring the home ownership. So it is worth to investigate between the aspiration and reality on home ownership for middle-income and during the investigation, we can make recommendation to enhance the current home ownership policy. In this research, the home ownership policy will be investigated over the past decades and subsequently literature review on the aspiration of people on home ownership as well as the reason and what is necessary for the government for implementing home ownership policy will be investigated. From the result of this research, it is found that middle-income aspire for affordable housing and in the meantime, they would like to acquire the home ownership for investment and accumulation of wealth. The preferences for the government's support on achieving home ownership is various, which include building more HOS, resumption of home purchase loan, increase housing supply and release regulatory. However, the government finds the difficulties in implementing the said measures because of lacking of resources, such as land and housing. This research suggests that the government should review its town planning to make use of the available land for building more small-to-medium size of housing and to coordinate with developers by adopting the producer-subsidy approach to build more HOS. For resumption of in-cash subsidy, developers and banks can act as the loaner so as to share the risk of the government. However, the small to medium scale of this measure and the flexibility of termination of it should be adopted so as to avoid fuels to the housing market. Subjects: Housing policy - China - Hong Kong Home ownership - China - Hong Kong
Author: Lai-Lai Lau
Publisher: Open Dissertation Press
ISBN: 9781361391433
Category :
Languages : en
Pages :
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This dissertation, "The Youth's Home Ownership Aspiration in Hong Kong" by Lai-lai, Lau, 劉麗麗, 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_b3196939 Subjects: Youth - Housing - China - Hong Kong Home ownership - China - Hong Kong
Author: Lai-lai Lau (M.Hous.M.)
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages : 212
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Author: Kwok-Wai Lee
Publisher:
ISBN: 9781374812499
Category :
Languages : en
Pages :
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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
Author: 甘銘堅
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages : 107
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Author: Sau-ching Tang (Regina)
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages : 222
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