My fearless padlet by Robert STEWART [08DG]

Price Index Across The Years

zhegeitanders2 — 2024-05-08 03:28:43 UTC

The Housing Index in Hong Kong decreased to 140.17 points in February from 141.56 points in January of 2024. The Housing Index in Hong Kong averaged 96.27 points from 1994 until 2024, reaching an all-time high of 185.62 points in September of 2021 and a record low of 31.34 points in May of 2003.

Many Homeless from High Apartment Living

zhegeitanders2 — 2024-05-08 03:30:36 UTC

Unsurprisingly, we saw the impacts of Covid, with half the respondents newly homeless in the last two years. The main reason cited for becoming homeless was that rent is too expensive and almost a third were working despite not having a home.

Homeless people are more likely to become Criminals

zhegeitanders2 — 2024-05-08 03:32:42 UTC

Unhoused persons are 514 times more likely to be arrested and charged with crimes when compared to the non-homeless population.

Less population = Worst economy

zhegeitanders2 — 2024-05-08 03:53:40 UTC

Homeless people might not make enough money to support themselves and they might not have enough money to buy food leading them to starve.

Reduced Consumer Demand: A decline in population can lead to reduced consumer demand for goods and services. With fewer residents, there may be decreased spending on retail, housing, and local businesses.

Labor Force and Employment: A smaller population can result in a reduced labor force. This can create challenges for businesses that rely on local talent and skilled workers. It may also lead to a decrease in job opportunities and higher unemployment rates, which can have a negative impact on the economy.

Decreased Tax Revenue: Population decline can affect government revenue through lower tax collections

Economic Restructuring: A decrease in population can sometimes trigger economic restructuring, where resources are reallocated to more productive sectors.

Housing Market: Population decline can result in excess housing supply, leading to decreased property values and potential challenges for the housing market.

The price of housing over the years

robertstewart10 — 2024-05-09 00:47:04 UTC

The Housing Costs over the years in Hong Kong decreased to 140.17 points in February from 141.56 points in January of 2024. The Housing Cost in Hong Kong averaged 96.27 points from 1994 until 2024, reaching an all-time high of 185.62 points in September of 2021 and a record low of 31.34 points in May of 2003.

PE Citations

euantam2 — 2024-05-09 00:53:55 UTC

New World Build for Good. (2016). Nwbuildforgood.hk. https://www.nwbuildforgood.hk/

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New World Build for Good

euantam2 — 2024-05-14 06:58:32 UTC

They seek to make medium or long term solutions to housing and land issues in Hong Kong in order to make it a more liveable city.

Reasons why Hong Kong's Housing Prices Increased

zhegeitanders2 — 2024-05-14 07:04:56 UTC

Limited land supply: Hong Kong has a small amount of available land for housing, yet has a high population. Meaning that multiple people fight or pay more money to live in existing apartments. When people value things higher they will pay more than the other to live in there.

Population growth: Hong Kong's population has been increasing steadily, creating more demand for housing. Meaning people value housing higher meaning they will pay more money so they get housing as they payed more.

What specific impacts such as homelessness did COVID-19 have on housing prices and urbanization over the period of time?

robertstewart10 — 2024-05-15 10:19:07 UTC

Throughout history, the process of urbanization has been transformative, shaping the landscapes and societies of numerous regions. As a historian, I have observed how urbanization has led to rapid population growth, increased demand for housing, and significant challenges in providing affordable living spaces. The COVID-19 pandemic further impacted these issues pushing vulnerable individuals and families towards homelessness due to job losses, evictions, and financial instability.

How has the history of urbanization in Hong Kong impacted the availability of affordable housing for different groups of people over time?

robertstewart10 — 2024-05-15 10:29:17 UTC

When the population in Hong Kong rose in the 1990s - 2000s, the demand for housing skyrocketed. This then led to the construction of public housing and high density residential buildings to accommodate low income citizens. The shortage of land in Hong Kong has also caused prices in property to significantly rise. Making buying houses unaffordable for middle and lower class families.

Poor groups like elderly and low income workers have consistently faced challenges in buying homes. The government has tried to balance the public housing and also tried keeping the costs down but it has been a struggle especially ever since covid 19 took place. This has left many residents and vulnerable people struggling find suitable and affordable places to live in.

What other solutions have other countries done to help their own housing crisis?

jacknash1 — 2024-05-16 01:41:49 UTC

For Hong Kong, the current issues are poverty and housing prices. To help fix this problem, we could increase the amount of public houses in Hong Kong. For example, there are many different countries that are currently coming up with ideas. We think that some countries have good solutions that can be implemented to Hong Kong. Denmark has a sustainable plan for their own housing issues. In Copenhagen, there are different things that they are doing and we are not. For example, Copenhagen has

Increasing density of houses.

What are the challenges to providing affordable housing in Hong Kong?

robertstewart10 — 2024-05-16 01:49:50 UTC

Hong Kong is the most densely populated place in the world. Mongkok having a density of 35 people per square foot which means that they are all stacked on top of each other.

Norway

jacknash1 — 2024-05-22 03:32:10 UTC

Norway placed 15th in the most affordable country in the world. Norway currently costs on average $51000 a square metre. Hong Kong can learn from Norway with some of it's strategies. Hong Kong can and should invest in public housing to let everyone live in a house or apartment. The key is to observe what Norway is doing and think of what are the possible outcomes when looking at strategies.

Increasing rate of homelessness

zhegeitanders2 — 2024-05-24 02:40:05 UTC

Ecuador

jacknash1 — 2024-05-27 05:37:03 UTC

Ecuador is cheap to live in because there is lot's of spare land. However, since Hong Kong has hardly any land, they can't build more houses. What could Hong Kong do however is to increase land supply. Hong Kong can achieve this by reclaiming land and rebuilding it into more houses.

Vietnam

jacknash1 — 2024-05-28 05:14:14 UTC

One of the reasons why Vietnam is so cheap is because of it's weak currency. One Hong Kong dollar is equal to 3075 Vietnamese Dong! Vietnam has high density development to use land to the maximum. Hong Kong can learn from Vietnam by making building permits easier and simpler to get. One of the other things that Vietnam is doing is that they are making buildings out of cheaper material such as prefabricated panels. Hong Kong could also implement housing subsidies or financial programs. These are the biggest reasons why Vietnam has affordable housing.

Urban planner citations

jacknash1 — 2024-05-28 05:15:24 UTC

https://www.weforum.org/agenda/2022/03/how-to-solve-the-global-housing-crisis/