- Jul 23, 2009
You're not getting it.
The space my desk takes up that I'm sitting at right now is the space a family of 4 lives in in HK
Too many people, not enough housing, there is no room or housing available, and whats there is too farking expensive. So, an apartment built for 1 is divided and 10 now live in it. They need to develop the land to accomodate the people. The developers want it, the people NEED it, gov wont give it to em. The reason, there is little to no tax in hk. Gov makes money by leasing land. By holding land and not making it available for dev, the little that is available is more valuable than the buildings weight in gold, in turn, leasing price skyrockets
This is how people live in hk, who wins you ask? the gov won, the people lost, its farking terrible for the people. There is NOTHING GOOD ABOUT IT
As said, will have to agree to disagree, I will never agree with you that HK is all rainbows and sunshine and some sort of shining example we should all be looking to to emulate. It is 'harmful' to its population
Edit: And your whole post is pointless, you're talking about people getting land, buying land, rich buying it all, selling back to gov etc. As said multiple times now. HK leases land. Thats it. There is no private ownership. Its all gov owned. And thats the problem. They hold it. They don't lease enough out. They hold it back to increase the prices of the leasing bids. They need to make more available for development. EG. if they have 10000 acres availble to lease, they only lease out 100 acres to keep prices of bidding high. Instead of saying, we have 10 10 acre pieces of land for auction, they need to say we have 1000 10 acre pieces of land for auction. But they won't, cos the fighting for the 10 plots gets higher prices than no fighting for 1000 plots. I'm just repeating myself here, multiple posts of the same thing. If you don't understand it yet, nothing else I say will clear it up for you. Its a shocking failure of a system and prime example of what a gov that owns all the land is capable of doing by not caring for its people.
I can tell you, you have no idea how the system work in hk. that is really pointless if you don't understand the facts.
1) low tax != no tax, they are not poor, they don't have to "lease" the land for income. btw, the people don't need to pay "rate and tax" for the properties they have..
2) no lease income for hk government. you renew the lease with no extra cost. guarantee private ownership.
3) no one will interference the market to drive the prices to go down.
4) explained to you already, land is limited resource, you can't create it.
that is not the same as SA's (anc /eff) EWC.
PS: the reason of why the land is "lease", not "own":
1) due to the history.
2) change the purpose of using the land, the price will be changed also. then you will have to pay the difference
eg: farming ==> $x , development ==> $1000x