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Author: Kwok-Wai Lee
Publisher:
ISBN: 9781374812499
Category :
Languages : en
Pages :
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Book Description
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: Kwok-Wai Lee
Publisher:
ISBN: 9781374812499
Category :
Languages : en
Pages :
Get Book Here
Book Description
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: Kwok-wai Lee (M.Hous.M.)
Publisher:
ISBN:
Category : Home ownership
Languages : en
Pages : 160
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Book Description
Author: Suk-Fun Josephine Wong
Publisher:
ISBN: 9781361293577
Category :
Languages : en
Pages :
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Book Description
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: Kin-Kwan Lau
Publisher: Open Dissertation Press
ISBN: 9781361364147
Category :
Languages : en
Pages :
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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
Author: Y. C. Jao
Publisher: Bloomsbury Publishing USA
ISBN: 0313000751
Category : Business & Economics
Languages : en
Pages : 245
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Book Description
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.
Author: Chung-kin Tsang
Publisher: Routledge
ISBN: 1000395383
Category : Political Science
Languages : en
Pages : 108
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Book Description
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.
Author: Linda Wong
Publisher: Routledge
ISBN: 1315498006
Category : Mathematics
Languages : en
Pages : 313
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Book Description
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.
Author: Robert Ash
Publisher: Routledge
ISBN: 1134423888
Category : Political Science
Languages : en
Pages : 299
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Book Description
Hong Kong in Transition offers a perspective on the exceptional constitutional and administrative experiment that has been taking place in Hong Kong, based on a substantial period under Chinese rule. There have been both successes and failures, and a perceptible process of change which is important to document. The particular appeal of this volume lies in the fact that it combines a broad overview with detailed study of individual topics. It is multidisciplinary, and its chapters may be read as 'stand-alone' studies or taken as complementary parts of a whole snapshot of Hong Kong in this critical early period. The chapters are pitched at a level to make them accessible both to undergraduates and to the specialist. Contributors have been drawn from Hong Kong, Macau, the UK, the US, Australia and Germany, reflecting the international interest in the fate of Hong Kong.
Author: Brian C.H. Fong
Publisher: Springer
ISBN: 3319513737
Category : Political Science
Languages : en
Pages : 358
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Book Description
This book examines the socio-political conflicts which have arisen since Hong Kong’s return to China and confronts the fundamental problems in the design of the One Country, Two Systems (OCTS) Model. It considers not only the issue of democratization, but also the institutional fractures in the executive-dominant political system and the disconnection between the executive and the legislature. It describes the drastic changes which have affected social mobilization and political activism in Hong Kong, as well as the pattern of interaction between the government and civil society. This edited volume brings together a team of cutting-edge researchers to examine the operation of the One Country, Two Systems (OCTS) Model in Hong Kong over the past 20 years. The discussion and analysis offered by the contributors will cast light on social and political tensions and conflicts that will continue to unfold in the coming years. This timely account, published on the 20th anniversary of the handover, will be a valuable read for students and scholars of Chinese and East Asian studies.
Author: Tse-Kang Leng
Publisher: Rowman & Littlefield
ISBN: 9780739126882
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
Dynamics of Local Governance in China during the Reform takes a close look at China's current transformation and its broader implications. Through their thought-provoking essays, the contributors to this volume dissect China's transformation by examining various topics in the field of contemporary China studies, such as rural industrialization, development of civic society, socio-economic transformation and local self-governance.
