Re:How Many Years of Life Does That House Cost?
by anovikov on Saturday September 09, 2017 @01:37AM
(#15205710)
Which means that probably ordinary people left Hong Kong and commute to work there each day right? It became like Paris where mostly only upper class lives. Definitely a rent on a minimal $500,000 apartment will also be above median household income.
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Re:How Many Years of Life Does That House Cost?
by em500 on Saturday September 09, 2017 @04:40AM
(#15206132)
No, ordinary people live in government subsidized housing (about half the population), or bought their apartment (99%+ of housing are high-rise apartments) in earlier decades when it was a bit more affordable.
For household who already own, their existing apartment also appreciated, so what matters is the cost of trading up. The hardest hit group are younger people between 20 and 35 who are stuck in their parents house for probably forever. 3 generations under 1 roof is pretty common.