"unfortunately, in our city housing has been seen as a commodity..." Yeah, we're seeing this attitude spreading around the world. A house is no longer a home; it is an investment.
The government wants to build more houses, but the rich stubbornly oppose any plan to build more houses, the city is controlled by the vested interest group.
Housing prices are unlikely to significantly decrease until there's a substantial increase in housing supply. In the USA , there's a shortage of millions of housing units, and construction isn't keeping pace. The constant demand for housing, coupled with population growth, means that even a slight price drop attracts numerous buyers who quickly absorb the available supply. I'm considering purchasing affordable houses in 2024 and possibly venturing into stock investments. When is the best time to enter the stock market? Some people say it is profitable , but others say it's risky. Any advice?
Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé
As a Hong Konger, I approve this message. The only thing to be glad is even if you’re still living with your parents when you're close to your 40s, no one would even try to question why. What a life.
But you like your liberal capitalist frendly goverment and ''hate'' the socialist China ...so don't protest ! you chose free capitalism, you chose this situation !
As a HongKonger, it just sucks to see ppl living in tiny spaces like this. Everything is just so expensive here. Most of the private residential parking space literally cost more than 150k usd each.
The British had never cared for the locals it had governed, look at India, Pakistan, also the dismal public housing in Spore before newly elected local government built more housing units in one single year than all the British effort in previous years. Nothing to b sentimental about the British care for locals.
I think the living cost will drop as the CCP takes over and changes the rules and laws and anyone who doesn't like it well it won't end nice most rich people who own those properties will loose them quick CCP doesn't care. Many rich people left HK as china took over HK.
In Hong Kong 1,9 million USD gives you 100 sqf apartment or we call it "shoebox apartment". In Wyoming, you can build a mansion, with ranche and stable for your horses with the same amount of money.
I know a guy who moved to Canada from HK due to the political unrest. They owned an apartment in HK and sold it before leaving. They were able to buy a really nice 4-bedroom house in Canada with the money from the sale with extra cash left to help them settle down.
Most immigrant families in HK are in this situation. Especially those who moved before and around 1997, they were usually business owners back in HK like my grandparents before they move to Canada.
@@juch3 As well as an insurance policy. I took all 3 of the jewel.. NZ, Aus and Canada... and going to receive retirement benefits from all 3 while living in Malaysia and Singapore and having the Right to Abode in HK. If you are political, ideological, communist or democratic.... You loose out. Financial, social and nationality mobility offer the most security to any family. Don't have to be loyal or patriotic to any country. Stay in the country that treat you the best, make money in the nation that offer the best financial opportunity, and operate from tax haven nations.
This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
*ROCHELLE DUNGCA-SCHREIBER* is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
This video was very eye opening. I have a comfortable living space that has everything I could possibly need yet I had the audacity to complain about how I didn’t like it’s overall style. I’m counting my blessings right now. Hopefully the living condition in Hong Kong improves.
@@JuliusUnique I know he chooses to live there but I know for a fact no one would wanna live in such a cramped space like that ever even if it’s an upgrade from the last.
Really brought home how bad the situation is when the guy at the end expressed gratitude for simply having enough space to stand up inside his shared apartment.
I feel like a king 🤴 now in my 600 sqf apartment, I could never live in Hong Kong under those conditions 😐. Poor people, the government should change their policies.
Yes for real is very important to have different streams of income ,and a diversified portfolio as for me. I have already invested in crypto which is very. Profitable and easy to gain
For those saying " why don't you move somewhere else? Another City?" Hong Kong runs a " one country two systems" scheme with Mainland China, we have our own separate governments, so moving to another city isn't as easy as you think. Due to political reasons, a lot of Hongkongers, especially those with children, are looking to leave or already have left the city, because they know that there is no space, no good education nor a a good government to run the city. The families that are immigrating to other countries are of course all mid or high income families. Hong Kong's average salary is 2400USD a month, and minimum wage is 4.83USD an hour. There is also no tips in a lot of places. It's not as easy as you think to move to another place.
HongKonger here, I'm incredibly lucky that my retiring parents have bought (10 years ago, the price has almost tripled now) and fully paid off our 500sqft apartment (considered "reasonable" for a 3 person family and becoming increasingly "above average" with the appearance of under 300sqft nano-flats in newly built properties) so at least we have a roof over our heads. I cannot say the same for many of my "sandwich class" friends who are extremely concerned about their future because their close family is not fortunate enough to own or fully pay off a home. It saddens me when I see comments advocating for "just work harder" or "it's on you if you can't afford it" when the down payment alone for a reasonable family home is tens of thousands in USD - not to mention the decades to come being chained to pay thousands (USD) monthly. Housing prices have more than tripled since 2000, but salary has only rose by ~1.5x; many have lost their jobs completely during COVID, housing prices merely rose slower.
Housing is incredibly expensive in Hong Kong, most vulnerable elders even stay out in parks all day and night and just go home to sleep because of how cramped their homes are, search cage homes in Hong Kong
It actually kind of does, Hong Kong has one of the highest gdp in the world, and has almost the same number of millionaires as the entire India, the only problem is wealth disparity is too high
@@niharoad4483 you are totally wrong. There is tons of land in Hong Kong. The market is simply controlled by the rich people and the government is too weak to go against them to build more housing
HK’s salary is comparable to, if not higher than, most American cities, and definitely much higher than most European cities. More importantly, the highest tax bracket in HK is 15%, compared to ~50% in most developed countries
@@ragnarlothbrok7973 it doesn’t pollute the ocean, it go all the way down acting like sand. Although it doesn’t biodegrade, ashes show no negative effects to the environment.
@@nytrex_yt7417 It's not value, it's the price. Would you take a 10000$ condo with full access to commodities, large living area, and emergency exits than these 20000$ with none of the above in Hong Kong?
Yeah I feel gratitude now, I live in a small apartment in a big city, but it's morning now and the sun just hit my balcony. Will eat breakfast and enjoy a cup of tea there with joy 🍵😊❤🌞
@@larsstougaard7097 shit will get better you just need to keep faith, work hard for what you want and never be satisfied for anything less than you really deserve
The main reason why HK has housing crisis is because there is too much Western democracy which does NOT allow the govt the strong hand to implement policies to address the population. If they had Chinese autocratic system from Mainland, this housing shortage will have been solved easily.
As someone who had lived in Hongkong for several months and had gotten a very small place even if my pay is a bit above average, this is the real condition and situation there.
This video never addressed the fundamental reasons of why it’s so expensive. Hong Kong is a low tax business haven thus public governmental budget are greatly drawn from the auction of land. Thus, the government must a) keep land price extremely high to produce income and b) land is a limited resource so they must not sell too much as it will eventually tun out (ie. why they keep trying to make reclaimed land and c) with so much of the wealth tied into investment housing, making housing “affordable” would greatly impact the wealth of the top 1% who paradoxically hold the most political sway via “donations” and special interest groups
I think the govt didnt sell it, Instead they lease it to the big companies for a certain periods. But my question is why those companies not trying to invest into building an apartment? Since the price is so high currently and it would help the HKers have more house, even though they dont own the land so idk whats gonna happen to them when the lease contract is done.
@@antihypocrisy8978 well if they are vetoing increase of land supply that means they want the land price to stay high so the current land owners gets richer and richer and no new people can get in the property ladder.
Housing should be a right and be banned from free market. Let commercial properties be a free market. But housing is a right- anyone disputing this is either evil or has vested interests.
Singapore is only THEORETICALLY SMALLER than Hong Kong. In reality it is MUCH BIGGER because it's mostly flat, usable land whereas Hong Kong is mostly hills and mountains.
The HK "pan democrats" have been using minority vetoes to block government attempts at increasing land supply for the last ten years. It is part of their political ploy to turn the working class against the government and China.
Man this situation is ridiculous , we live in a world where people feel lucky to be able to stand in their room and the government doesn't give a f*ck about these people
Exactly! I live in Hong Kong and many old building aren’t even renovated and extremely old and still being used for people to live in. It pretty dangerous cause the structure isn’t as stable anymore plus the hygiene isn’t good. Really hope the government will do something about this!
HK government don't give a shit to HK people, they only care what China government think and if you have problem with that in HK (i. e. You protest about this), they arrest you and you go to jail (problem solved as they think)
As a Hong Kong citizen, recently I watched a local documentary about the uprising of capsule housings and conditions in there are apparently smaller than the minimum required area for prisoners in HK. There is a man who got used to living in capsule housings and grown attached to being in them...Meanwhile, my father who around 2 years ago bought an apartment after a decade since selling our old one estimated himself to still paying installments even after his retirement...I simply cannot see myself in another 10 or 20 years becoming a slave to paying installments for life.
Yes, ironically for many of the protesters who were caught for being violent, their jail cell may actually be more spacious than their home. So, so sad.
@@Trgn Yes, they used the wrong messages and targeted the wrong people in their rioting. Unfortunately, that is why the later participants in the Hong Kong unrest failed miserably. The original peaceful protests of 2019 were successful in cancelling a criminal extradition amendment, but it sparked a wave of general discontent which is really against Hong Kong's miserable living situation.
It's also very sad that people get used to what they have and give up their right to make a change. If I were them, I'll get the hell out of there. But it's always easier said than be done.
It's not our problem. HK was great during british colonial rule. The problems only got significantly worse under the rule of China in the 1990s. That why there are large groups that want to return as a british territory than remain Chinese
I came to say ‘oi, sure it s bad there, but it ain’t heaven in London either’. Then I saw the old man speaking of feeling lucky due to ability to get up. Now I say, London is a goddam heaven to be. Alltho I pay half my salary for 20 squares, i see I m nearly as privileged as the queen herself.
@@businessinsider7657 get out of here you crook, using a legitimate username (Business Insider) to mislead and dupe people out of their currencies by recommending them to engage in an act that revolves around giving up their confidential information and money, oh how about recommending a 3rd party, leave this platform and stop commenting on business insider's contents. Edit: Interesting, after leaving the above "get out of here" comment the crook exits this comment section by deleting their (misleading) comment, most appreciated. I guess it is because I called them out.
@@charlieq1612 >comes to comment section just to throw prejudiced crap >despite having zero knowledge on the subject for am I not British Racist oxymorons on internet everyone
"And safe yourself" as long as everyone is choosing such a individualistic perspective and only cares about their own wealth, we will be confronted with these kind of situations even more in the future. People should start to consider saving each other, from absurd circumstances as described in this video. In which appartments are empty for investments, while laborers can barely afford to make a living and have a roof above their head. You should better be ashamed "business insider (fake account)" contributing to this problem.
The main reason why HK has housing crisis is because there is too much Western democracy which does NOT allow the govt the strong hand to implement policies to address the population. If they had Chinese autocratic system from Mainland, this housing shortage will have been solved easily.
@@gidd we only have 2 cities in America that even compare to these prices, and they are 4 times less expensive... In the vast majority of the US (99 percent), you can buy a mansion for 1.9 million
This is why some of us living in HK would rather have a lower salary to be eligible for public housing (especially ones who belong to low to average middle class) it’s just impossible to get a decent apartment even if you are getting paid hk$20000 (about us$2500 I think) a month
I'm not from Hong Kong, I've never been there, so to me is a gold opportunity to ask something to someone who live there and have problems to get a place to live. I understand that people who works and or study there look for a place to live that, but why in heaven do retired people keep living in such horrible conditions? Why don't they go to live in Mainland or any other inexpensive place?
@@chubbygardener i think the question should be why they need to move to some place else? Those "old people" has worked in HK, lived in HK, born in HK and served in HK for more than half a century. HK is everything they got why should they leave??
@@chubbygardener Because you've already spent your whole life in Hong Kong. At an elderly age, not worth the hassle to pick up and start over somewhere alien with a language barrier (neighbouring Shenzhen speaks mostly Putonghua / Mandarin due to its migrant history).
Someone i know who is in his early 40 and who can never afford a single unit but has inherited at least 5 properties from his parents in HK this year. From nothing to a multi-millionaire. He is such a lucky man, more so to his wife and children. Btw, he will inherit another property in UK in future too. I also know other who are married with kid but still have to live their their parents. What a big contrast!
An acquaintance I know lived in a tiny flat in Hong Kong. It was a bigger flat subdivided into three. It was absolutely stifling. The city was stifling too because you were always walking shoulder to shoulder with the crowd. It was a nice trip but I'm glad I don't have to live there
I remember going to hk with 4 of my friends and renting a hostel room. It was literally a king size bed+ bathroom. If you're going to the bathroom everybody has to lie on the bed or they'll be blocking the way. It was fun because it promoted togetherness but i think we'll strangle each other if this was a long term arrangement.
This is just super sad... I pay USD$690 for a 1 bedroom apartment that is 10 TIMES the size that this man is paying $360 for, and I live downtown in a city of a million people in Edmonton, Canada. :(
billionaires like Li Ka-shing own tons of empty land in New Territories etc. but they don't want to develop housing... fewer supplies mean a higher price for existing housing. And they played pretty well at creating diversions through their media that led Hong Kong people to blame the Hong Kong government and central government for the crazy living conditions while ignoring who is really behind
The fact that any country can knowingly let their own citizens live in homes like this is absolutely deplorable. Then to later have gentrified versions of this for tourists just makes it worse.
At that point, it makes more sense to live in a RV using solar power and just camp outside of the city. Never pay rent while saving to leave the country.
No address no job which means no cash, not even an option haha. Plus car ownership is extremely expensive in HK, prices are like 2 to 3 times more expensive than the states.
High property price in Hong Kong is actually a compensation of the low tax. As the tax rate in Hong Kong is very low and the system is very simple (we don't have VAT, property gain tax, alcohol tax for under 30% drinks, inheritance tax…). Therefore, a large portion of government income is from land auction. The recording high land price is actually kind of allowed by the government. The good side of this is the low tax, but it keeps many people from living humanely too.
There needs to be a balance. The important basic necessities to humans is food, water and shelter. As a citizen of a country I would also demand access to the basic requirements of health, education and housing. The system can be as capitalistic as you want in other sectors of the economy but you can't deprive the poorest citizens from the basics of health, education and housing.
@@araceliharris5142 Me too, I've got interest in investing but afraid of doing it on my own to avoid loss from my end, Just last week I loss about $5,400
what a pity , it's just outrageously expensive and drives all the people there insane! But, why are they so rich to buy residential properties there for those who can buy?
As someone from western Canada it sounds very similar. Crazy housing prices and lots of empty houses. Making things impossible for the people who live there. Vancouver is not far behind Hong Kong.
granted that even parking spaces in hk are narrower and in many cases cannot even half open the door on both sides, but yeah even parking spaces sell for some 2mil HKD. it's just insane.
Housing in Hong Kong was and is still a very good investment as the prices keep growing, it is true that the prices reached to the point that the population in poverty line aren’t able to afford them. But it’s not only the lower-class people suffering, but it’s everyone who’s living in Hong Kong, middle-class people are usually able to afford around a 100 square metre apartment (5mil usd)(we used to live above Elements)but have to take a 30 year loan, and you also have to pass a strict stress test which requires your income to be double of what you’re paying for your debt each month. And imagine sharing a 100 square metre home with your parents, siblings, and a maid, you’ll just run out of space and start dreaming about migrating to somewhere else.
Jesus Christ that's terrible. $2 mil in hong kong gets you some single floor apartment that's 1/5th the size of my house and I only paid $320,000 for it...
30 years ago I lived in an apartment in the Mid-levels of Hong Kong. Great view of the whole city. Over 2600 square feet. Nice patio. Probably worth a couple million US dollars back then. I can’t even imagine what it is worth now.
That $360 a month for the 30 sq ft 'coffin homes' rent is surreal. There's a house currently being rented across the street from where I live for around $400 a month, and for that money you'll get a 2100 sq ft property, 3 bedrooms, running water, full air conditioning, enough parking space for 2 cars AND a backyard. Fully furnished too. Heck, my rent back in college was $75 a month for a 250 sq ft single bedroom, a bathroom, full AC, and free wifi all year long. Suddenly I feel blessed.
You can't cut the trees. The real estate guys will remove his suit and take on the environmentalist T-shirt and appear in front of your house protesting.
I live in Brazil and here we have so many problens, but not like this, we have a lot of space! i dont want to complain aboult my life anymore, i know that exist so many ppl in worst condition out there
you could buy 4 or 5 houses in canada with 1.9 million$ which means your could live in 1 house and have the other 4 houses for people to rent or put a mortgage on it SO YOU COULD LITTERALY JUST SIT IN YOUR HOUSE ALL DAY NOT WORRYING ABOUT MONEY this is crazy
What this story doesn’t tell you was in late 90s, the Hong Kong administrator at the time tried to develop the land so the city can build more housing for the increasing population. Guess what, the city representatives elected by people all voted against the development because they have good relationship with development moguls (control the supply) and existing home owners don’t want price decrease. Younger Hong Kongers really have nobody to blame except their own parents older hong Kongers.
I live in Hong Kong and many buildings aren’t renovated and extremely old and still being used for people to live in or used to become shops. It pretty dangerous cause the structure isn’t as stable anymore plus the hygiene isn’t good. Really hope the government will do something about this it’s terrible for the people that have to deal with this!
The most annoying thing about HK is that it's not about how nice the apartment is, but rather what part it's in and how many sqft. I lived in a 150 sqft apartment in wan chai infested with cockroaches for 9000 hkd a month, and I lived in a brand new 300 sqft apartment in tko for 12000.
I am a Hong Kong local and I want the world to know that we don't enjoy living here. Our government together with the Chinese government don't care much about us but only know to find ways lucrative to those who are already rich and in power. If you happen to come across Hong Kongers, please be kind to us. Thank you!
Sorry to ask, but why don’t you guys migrate somewhere where your attributes and skills will be more valued and you’ll be able to have more comfortable lives in less crowded places or at least cities with more space? I swear if any Hongkoners came to my country you’d be rich and hold the best positions in any company
@@agme8045 like going to old school u.s. or u.k? what top offers do they get? cia director? lolz, how many top companies ceo are asians, let alone people from Singapore and hong kong? i ak pretty sure there are more people from hong kong getting good spots in mainland chinese company than western companies
@@royhsieh4307 Hong Kongers are treated as foreigners in China. We don't want to risk ourselves there. One day you are KING and you lose everything another day.
Many believe one of the major keys to success is waking up early each and every day. Having a head start before everyone one else and being on step ahead at all times and fully prepared. When others are still sleeping you are already working.
Advice to anyone visiting Hong Kong 🇭🇰 don’t stay at an Airbnb. It is another reason why the housing crisis is bad and those are also part of owners investments.
OMG I never thought that I am lucky enough. Hong Kong looks so outdated. I think they cannot rebuild an apartment like South Korea or any other countries. When it comes to South Korea, Korea is so much modern because they keep on renovating old buildings and develop out dated areas as their plans. When I went there, I was so impressed how clean it was and modern and so beautiful cities over there. However, I also want to visit Hong Kong as well.
Korea has a strong industrial economy that Hong Kong does not. Industry is very important to the middle class. Hong Kong is stuck in an extreme rich/poor combination due to its distorted service economy. Unfortunately, without Singapore-style government control, many of the poor and even the lower-middle classes cannot live humanely.
As a Hongkonger I am so jealous of people in the western areas like United States,they get multiple floors and a backyard is like a basic reuqirement for a proper housing! I live in a building so I am blessed I am not living in coffin homes.
As being an hongkonger, it is just barely not affordable for an local to buy or even rent a flat. Living with family till 30 or above is still common. And some who are married do the same. Sad
I think it shows how greedy their government is for not utilizing all of that land. This is the reason corruption is so important to stomp out in political leaders.
Hong Kong: We don't know why housing is so expensive Everyone else watching: Well maybe if you actually build housing for others instead of leasing land to the highest bidder insuring only the rich dictate what housing prices should be?
problem with that is nobody is happy to support that - we dont want taxes to increase. Moreover, a lot of people in HK, especially the middle and upper class, do not want prices to go down. They've got too much skin in housing investments. We barely pay any taxes - max is 17% income tax and thats just for billionaires. Most of us dont even need to pay a single dime to our own version of the IRS. Yet we get great infrastructure, healthcare, etc.
One really important reason. The high price of the House market is one of Government income. Land Auctions need the crazy market to keep the price high. Other the other hand, when the building finishes. Few TAX is about the house price. So the hi GOV no reason to Push the market down.
Pricing in HK is very dependent on the specific circumstances of the dwelling. Well serviced areas are very expensive, but more remote satellite towns are far less expensive per unit area. There is a very small percentage of people with no dwelling so they tend to be seen in small scale when they set up in metro tunnels and bridges. HK has mild weather, so living outside is no where as bad as say London or San Francisco. A recent SCMP article has a great multi-layer graphic to reveal the design of some of the Divided-Flats.
If China had its way, I think they would forcefully regulate the market and rezone the land properly, and also siphon off a piece of Shenzhen to quickly and drastically build up Hong Kong's residential land supply. The private housing market would "collapse" in the sense that all those nanoflats would become worthless, and people who bought into them would be royally screwed. But that's how China rolls, solving problems ruthlessly.
Hongkong housing are so expensive despite having so much unused lands... unlike Singapore which are expensive due to limited land....its all about the government...
My first experience with Mrs Rose Robert gave me profit of over $24,000 and ever since then she has never failed to deliver and I can even say she's the most sincere broker I've know.
"unfortunately, in our city housing has been seen as a commodity..." Yeah, we're seeing this attitude spreading around the world. A house is no longer a home; it is an investment.
@Default Cons thinking they ll be rich someday if they bootlick hard enough OMEGALUL
@Default Poor people deserve housing too. And not just the absolute bare minimum.
@Default even the poor deserve housing.
The government wants to build more houses, but the rich stubbornly oppose any plan to build more houses, the city is controlled by the vested interest group.
@Default oh here we have the perfect useful idiot thinking he will belong someday to the 1%
Housing prices are unlikely to significantly decrease until there's a substantial increase in housing supply. In the USA , there's a shortage of millions of housing units, and construction isn't keeping pace. The constant demand for housing, coupled with population growth, means that even a slight price drop attracts numerous buyers who quickly absorb the available supply. I'm considering purchasing affordable houses in 2024 and possibly venturing into stock investments. When is the best time to enter the stock market? Some people say it is profitable , but others say it's risky. Any advice?
Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
@oldcastleswan I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this coach?
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé
As a Hong Konger, I approve this message.
The only thing to be glad is even if you’re still living with your parents when you're close to your 40s, no one would even try to question why.
What a life.
But you like your liberal capitalist frendly goverment and ''hate'' the socialist China ...so don't protest ! you chose free capitalism, you chose this situation !
@@giannisvellichor5632 what?!
@@Reyfan601 what did you miss ?
@@giannisvellichor5632 what?
@@giannisvellichor5632 wtf you talking about 😂
As a HongKonger, it just sucks to see ppl living in tiny spaces like this. Everything is just so expensive here. Most of the private residential parking space literally cost more than 150k usd each.
The British had never cared for the locals it had governed, look at India, Pakistan, also the dismal public housing in Spore before newly elected local government built more housing units in one single year than all the British effort in previous years. Nothing to b sentimental about the British care for locals.
Then move the hell out of Hong Kong! There is plenty of space in Mainland China or the US.
And China has so so much space. But some people do live in very small spaces too.
louth1770 at least they didnt convert them to some religion.
I think the living cost will drop as the CCP takes over and changes the rules and laws and anyone who doesn't like it well it won't end nice most rich people who own those properties will loose them quick CCP doesn't care. Many rich people left HK as china took over HK.
In Hong Kong 1,9 million USD gives you 100 sqf apartment or we call it "shoebox apartment".
In Wyoming, you can build a mansion, with ranche and stable for your horses with the same amount of money.
Pro: Big House
Con: Wyoming
This is the free market at work here, same problem in the big apple and the west coast cities of LA and SF.
@@Alex-pj8nz except it isn't nearly as bad there
gid dy you wish
Nobody wants to live in Wyoming and you can build your home wherever you want, that’s the difference
I know a guy who moved to Canada from HK due to the political unrest. They owned an apartment in HK and sold it before leaving. They were able to buy a really nice 4-bedroom house in Canada with the money from the sale with extra cash left to help them settle down.
Most immigrant families in HK are in this situation. Especially those who moved before and around 1997, they were usually business owners back in HK like my grandparents before they move to Canada.
HongKongers are making Vancouver unaffordable.
"who know a guy who knew a guy who knew a guy's cousin."
@@jon_nomad rich hongkongers, chinese, and other asians are usually the ones seeing canada as a lucrative place for investment as well as immigration.
@@juch3 As well as an insurance policy. I took all 3 of the jewel.. NZ, Aus and Canada... and going to receive retirement benefits from all 3 while living in Malaysia and Singapore and having the Right to Abode in HK. If you are political, ideological, communist or democratic.... You loose out. Financial, social and nationality mobility offer the most security to any family. Don't have to be loyal or patriotic to any country. Stay in the country that treat you the best, make money in the nation that offer the best financial opportunity, and operate from tax haven nations.
This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
*ROCHELLE DUNGCA-SCHREIBER* is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
This video was very eye opening. I have a comfortable living space that has everything I could possibly need yet I had the audacity to complain about how I didn’t like it’s overall style. I’m counting my blessings right now. Hopefully the living condition in Hong Kong improves.
Lies again? HDB Paris
I feel terrible seeing him just be in an apartment that small.
but he chooses to live there, wdym
@@JuliusUnique I know he chooses to live there but I know for a fact no one would wanna live in such a cramped space like that ever even if it’s an upgrade from the last.
No shit, there are people in Africa that live in huts
Yeah like 1/4 that of a car parking lot dude my cars in my moms house are like i bet five times more than his house area
@@businessinsider7657 Why do you have a imposter account?
Really brought home how bad the situation is when the guy at the end expressed gratitude for simply having enough space to stand up inside his shared apartment.
I feel like a king 🤴 now in my 600 sqf apartment, I could never live in Hong Kong under those conditions 😐. Poor people, the government should change their policies.
@@larsstougaard7097 yes, agreed
Yes for real is very important to have different streams of income ,and a diversified portfolio as for me. I have already invested in crypto which is very. Profitable and easy to gain
Stocks are good but there are alots of buisiness more convenient than stock
People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in Bitcoin
For those saying " why don't you move somewhere else? Another City?" Hong Kong runs a " one country two systems" scheme with Mainland China, we have our own separate governments, so moving to another city isn't as easy as you think. Due to political reasons, a lot of Hongkongers, especially those with children, are looking to leave or already have left the city, because they know that there is no space, no good education nor a a good government to run the city. The families that are immigrating to other countries are of course all mid or high income families.
Hong Kong's average salary is 2400USD a month, and minimum wage is 4.83USD an hour. There is also no tips in a lot of places. It's not as easy as you think to move to another place.
I know you can’t just magically wish for a plane 🤦🏾♀️
HongKonger here, I'm incredibly lucky that my retiring parents have bought (10 years ago, the price has almost tripled now) and fully paid off our 500sqft apartment (considered "reasonable" for a 3 person family and becoming increasingly "above average" with the appearance of under 300sqft nano-flats in newly built properties) so at least we have a roof over our heads. I cannot say the same for many of my "sandwich class" friends who are extremely concerned about their future because their close family is not fortunate enough to own or fully pay off a home.
It saddens me when I see comments advocating for "just work harder" or "it's on you if you can't afford it" when the down payment alone for a reasonable family home is tens of thousands in USD - not to mention the decades to come being chained to pay thousands (USD) monthly. Housing prices have more than tripled since 2000, but salary has only rose by ~1.5x; many have lost their jobs completely during COVID, housing prices merely rose slower.
Even Shenzhen is getting very expensive these days, but I read they are planning to build more in the outskirts of that city.
Try moving to China
@@qjtvaddict very funny
@@skyguy7567 not funny at all, that's what I did
@@asdfghjkl92213 some of my friends also sold their stuff in HK to literally buy buildings in London.
Housing is incredibly expensive in Hong Kong, most vulnerable elders even stay out in parks all day and night and just go home to sleep because of how cramped their homes are, search cage homes in Hong Kong
But does that sound bad, spend more time outside in parks and nature than inside... I'd take that trade off!
@@josephhall2858 no you wouldnt. Shut up
@@aaroncousins4750 yes I would
We saw the video..
Aaron cousins
Damn man hes just trying to make the best out of a bad situation....
The sad part is that the salary does not follow up the rent
It actually kind of does, Hong Kong has one of the highest gdp in the world, and has almost the same number of millionaires as the entire India, the only problem is wealth disparity is too high
the same goes with most places on this planet, we were wondering the same when we actually calculated many cities cost of living and salaries
It's because cities don't have land, they have jobs. If you over crowd a tight space the land price will go high because of demand.
@@niharoad4483 you are totally wrong. There is tons of land in Hong Kong. The market is simply controlled by the rich people and the government is too weak to go against them to build more housing
HK’s salary is comparable to, if not higher than, most American cities, and definitely much higher than most European cities. More importantly, the highest tax bracket in HK is 15%, compared to ~50% in most developed countries
A common phrase Hong Kongers say is: “You cannot even afford to die.”
(Bc even graveyards for just an ash box are way too expensive)
Why don't pour ashes in the ocean 😅😅😅
@@punitarathi4127 it pollutes the ocean
@@ragnarlothbrok7973 But we are doing it for Thousands of Years 😅
@@punitarathi4127 i mean it polluting the ocean but theyrr are other thing polluting the oceans too and if i was disrespectfull im sorry
@@ragnarlothbrok7973 it doesn’t pollute the ocean, it go all the way down acting like sand. Although it doesn’t biodegrade, ashes show no negative effects to the environment.
You can’t afford a house: Panik
You get earn a lot of money : Kalm
You’re in Hong Kong: Panik
If the whole world also put money come first will reap like Hongkong.
This is not a joke for a person like me with no future
Damn. I live in a castle compared to this man. Count your blessings.
But it value is much compare to your
@@kingpatil2882 Huh
@@nytrex_yt7417 It's not value, it's the price. Would you take a 10000$ condo with full access to commodities, large living area, and emergency exits than these 20000$ with none of the above in Hong Kong?
True
@@icepick2407 I said “huh” I never said anything about price or value
Just a reminder to be grateful for what you have
So true 👍
Yeah I feel gratitude now, I live in a small apartment in a big city, but it's morning now and the sun just hit my balcony. Will eat breakfast and enjoy a cup of tea there with joy 🍵😊❤🌞
@@larsstougaard7097 shit will get better you just need to keep faith, work hard for what you want and never be satisfied for anything less than you really deserve
The main reason why HK has housing crisis is because there is too much Western democracy which does NOT allow the govt the strong hand to implement policies to address the population. If they had Chinese autocratic system from Mainland, this housing shortage will have been solved easily.
@@jameslim3850 😂😂😂
When things become so disproportionately unfair, one word can explain it all: GREED
As a Hong Konger I agree, people are getting too corrupt and greedy 😔
@@why-ue1tu Just wondering, how many % of young people say between 28 - 35 who can afford their own homes?
As someone who had lived in Hongkong for several months and had gotten a very small place even if my pay is a bit above average, this is the real condition and situation there.
This video never addressed the fundamental reasons of why it’s so expensive. Hong Kong is a low tax business haven thus public governmental budget are greatly drawn from the auction of land. Thus, the government must a) keep land price extremely high to produce income and b) land is a limited resource so they must not sell too much as it will eventually tun out (ie. why they keep trying to make reclaimed land and c) with so much of the wealth tied into investment housing, making housing “affordable” would greatly impact the wealth of the top 1% who paradoxically hold the most political sway via “donations” and special interest groups
Really? I didn't know Pan democrats worked for the tycoons. They were the ones vetoing attempts to increase land supply.
This needs more likes
I think the govt didnt sell it, Instead they lease it to the big companies for a certain periods.
But my question is why those companies not trying to invest into building an apartment? Since the price is so high currently and it would help the HKers have more house, even though they dont own the land so idk whats gonna happen to them when the lease contract is done.
@@antihypocrisy8978 well if they are vetoing increase of land supply that means they want the land price to stay high so the current land owners gets richer and richer and no new people can get in the property ladder.
This is pure greed…
that $1.9 million apartment is literally smaller than my apartment, which is like $600 rent. feeling blessed rn-
Price is not about the apartment, it's the location
Blessed for being in better situation than them? Good for you then
@@gabrielcarvalho6085 The environment: a cramped city in the process of being taken over by a dictatorship
@@gabrielcarvalho6085 pretty sure the commenter lived in a better location than this
@@TasX For western people it's that, for china people there still more freedom than other places inland
"we are the lower rank, the bottom of society." .....the despair....the sadness...the cruelty...
Singapore is smaller but fixed their housing. The “free” market for housing is a sham
Housing should be a right and be banned from free market. Let commercial properties be a free market. But housing is a right- anyone disputing this is either evil or has vested interests.
Singapore is only THEORETICALLY SMALLER than Hong Kong. In reality it is MUCH BIGGER because it's mostly flat, usable land whereas Hong Kong is mostly hills and mountains.
@@ManlyHK1 thats true
The HK "pan democrats" have been using minority vetoes to block government attempts at increasing land supply for the last ten years. It is part of their political ploy to turn the working class against the government and China.
@@utkarshg.bharti9714 Housing shouldnt be a right lol wtf are you on?
Man this situation is ridiculous , we live in a world where people feel lucky to be able to stand in their room and the government doesn't give a f*ck about these people
Exactly! I live in Hong Kong and many old building aren’t even renovated and extremely old and still being used for people to live in. It pretty dangerous cause the structure isn’t as stable anymore plus the hygiene isn’t good. Really hope the government will do something about this!
@@Chrisy_135 keep hoping they only care about money not you.
HK government don't give a shit to HK people, they only care what China government think and if you have problem with that in HK (i. e. You protest about this), they arrest you and you go to jail (problem solved as they think)
capitalism
@@Los47 Nah it's the actual form of communist
As a Hong Kong citizen, recently I watched a local documentary about the uprising of capsule housings and conditions in there are apparently smaller than the minimum required area for prisoners in HK. There is a man who got used to living in capsule housings and grown attached to being in them...Meanwhile, my father who around 2 years ago bought an apartment after a decade since selling our old one estimated himself to still paying installments even after his retirement...I simply cannot see myself in another 10 or 20 years becoming a slave to paying installments for life.
Yes, ironically for many of the protesters who were caught for being violent, their jail cell may actually be more spacious than their home. So, so sad.
@@canto_v12 They are protesting to protect a neo-liberal economics system that fck them in the first place.
@@Trgn Yes, they used the wrong messages and targeted the wrong people in their rioting. Unfortunately, that is why the later participants in the Hong Kong unrest failed miserably. The original peaceful protests of 2019 were successful in cancelling a criminal extradition amendment, but it sparked a wave of general discontent which is really against Hong Kong's miserable living situation.
It's also very sad that people get used to what they have and give up their right to make a change. If I were them, I'll get the hell out of there. But it's always easier said than be done.
As a UK citizen I’m embarrassed to encounter more and more problems in the world due to English colonialism
This is more of a land issue than a colonial issue
dont worry the chinese doesnt blame their problems on you like the indians do
It's not our problem. HK was great during british colonial rule. The problems only got significantly worse under the rule of China in the 1990s. That why there are large groups that want to return as a british territory than remain Chinese
@@Jack_Perkins ok pinko
I came to say ‘oi, sure it s bad there, but it ain’t heaven in London either’. Then I saw the old man speaking of feeling lucky due to ability to get up. Now I say, London is a goddam heaven to be. Alltho I pay half my salary for 20 squares, i see I m nearly as privileged as the queen herself.
"Then I saw the old man speaking of feeling lucky due to ability to get up."
I mean, wouldn't all old men feel lucky if they could get it up?
Dude but we are supposed to have a government that “cares” about it’s people we should be able to afford homes especially the younger generation
@@businessinsider7657 get out of here you crook, using a legitimate username (Business Insider) to mislead and dupe people out of their currencies by recommending them to engage in an act that revolves around giving up their confidential information and money, oh how about recommending a 3rd party, leave this platform and stop commenting on business insider's contents.
Edit:
Interesting, after leaving the above "get out of here" comment the crook exits this comment section by deleting their (misleading) comment, most appreciated. I guess it is because I called them out.
>comes to comment section just to complain
>despite having zero knowledge on video's subject beforehand
British people on the internet, everyone.
@@charlieq1612
>comes to comment section just to throw prejudiced crap
>despite having zero knowledge on the subject for am I not British
Racist oxymorons on internet everyone
What a world we are living in!
Jammer he
"And safe yourself" as long as everyone is choosing such a individualistic perspective and only cares about their own wealth, we will be confronted with these kind of situations even more in the future. People should start to consider saving each other, from absurd circumstances as described in this video. In which appartments are empty for investments, while laborers can barely afford to make a living and have a roof above their head. You should better be ashamed "business insider (fake account)" contributing to this problem.
The earth. Duh
The main reason why HK has housing crisis is because there is too much Western democracy which does NOT allow the govt the strong hand to implement policies to address the population. If they had Chinese autocratic system from Mainland, this housing shortage will have been solved easily.
where there is not enough land
Short answer: Extreme capitalism, Real estate oligarchy.
Very short answer: Li Ka-Sheng
New Yorker: Our real state is most expensive
Hong Kong: Hold my hongkong.
Imagine paying $1.9 million for a 500 sq ft apartment when you can get a mansion in the states
1,9 million can get you 2 mansions and a palace in my country
Imagine how far that goes in texas or Atlanta lol you’d have a 10 bedroom house easy
@@nyaheh5878 palo alto
you say this like the the US doesn't overpriced cities already
@@gidd we only have 2 cities in America that even compare to these prices, and they are 4 times less expensive... In the vast majority of the US (99 percent), you can buy a mansion for 1.9 million
This is why some of us living in HK would rather have a lower salary to be eligible for public housing (especially ones who belong to low to average middle class) it’s just impossible to get a decent apartment even if you are getting paid hk$20000 (about us$2500 I think) a month
20000 hkd a month is nowhere near middle class in hong kong.
I'm not from Hong Kong, I've never been there, so to me is a gold opportunity to ask something to someone who live there and have problems to get a place to live.
I understand that people who works and or study there look for a place to live that, but why in heaven do retired people keep living in such horrible conditions? Why don't they go to live in Mainland or any other inexpensive place?
@@chubbygardener i think the question should be why they need to move to some place else? Those "old people" has worked in HK, lived in HK, born in HK and served in HK for more than half a century. HK is everything they got why should they leave??
@@chubbygardener Because you've already spent your whole life in Hong Kong. At an elderly age, not worth the hassle to pick up and start over somewhere alien with a language barrier (neighbouring Shenzhen speaks mostly Putonghua / Mandarin due to its migrant history).
@@canto_v12 then what does hk speak? i thought that Mainland, hk and taiwan spoke mandarin chinese with pinyin.
Someone i know who is in his early 40 and who can never afford a single unit but has inherited at least 5 properties from his parents in HK this year. From nothing to a multi-millionaire. He is such a lucky man, more so to his wife and children. Btw, he will inherit another property in UK in future too. I also know other who are married with kid but still have to live their their parents. What a big contrast!
An acquaintance I know lived in a tiny flat in Hong Kong. It was a bigger flat subdivided into three. It was absolutely stifling. The city was stifling too because you were always walking shoulder to shoulder with the crowd. It was a nice trip but I'm glad I don't have to live there
I’m from Hong Kong and thank you for making this video Business Insider 🙏🏾
F
I remember going to hk with 4 of my friends and renting a hostel room. It was literally a king size bed+ bathroom. If you're going to the bathroom everybody has to lie on the bed or they'll be blocking the way. It was fun because it promoted togetherness but i think we'll strangle each other if this was a long term arrangement.
Sounds…..wrong
Meanwhile I live rent free and complain about sharing the kitchen with my parents
🤦🏾♀️ you need to help out with the rent when you get money
This is just super sad... I pay USD$690 for a 1 bedroom apartment that is 10 TIMES the size that this man is paying $360 for, and I live downtown in a city of a million people in Edmonton, Canada. :(
Even the so called "poor people" here in the states making less than 30k a year have a bigger place than that. Blows my mind.
It’s sad to think my room is bigger than some people’s apartment
As someone from Hong Kong, I can confirm it’s ridiculous.
billionaires like Li Ka-shing own tons of empty land in New Territories etc. but they don't want to develop housing... fewer supplies mean a higher price for existing housing. And they played pretty well at creating diversions through their media that led Hong Kong people to blame the Hong Kong government and central government for the crazy living conditions while ignoring who is really behind
Dude, the HK Govt is in the pocket of the tycoons.
The fact that any country can knowingly let their own citizens live in homes like this is absolutely deplorable. Then to later have gentrified versions of this for tourists just makes it worse.
My childhood friend moved to Canada from Hong Kong, and they went from the smallest flat to the nicest, biggest house in their neighborhood.
this really puts things in perspective. im so grateful for the space i've been allowed to live with.
At that point, it makes more sense to live in a RV using solar power and just camp outside of the city. Never pay rent while saving to leave the country.
Exactly. Leaving is the life goal of most hongkongers.
No address no job which means no cash, not even an option haha. Plus car ownership is extremely expensive in HK, prices are like 2 to 3 times more expensive than the states.
bruh - parking is expensive, like 3 mil hkd for a parking spot with a roof!
High property price in Hong Kong is actually a compensation of the low tax.
As the tax rate in Hong Kong is very low and the system is very simple (we don't have VAT, property gain tax, alcohol tax for under 30% drinks, inheritance tax…). Therefore, a large portion of government income is from land auction. The recording high land price is actually kind of allowed by the government.
The good side of this is the low tax, but it keeps many people from living humanely too.
There needs to be a balance. The important basic necessities to humans is food, water and shelter. As a citizen of a country I would also demand access to the basic requirements of health, education and housing. The system can be as capitalistic as you want in other sectors of the economy but you can't deprive the poorest citizens from the basics of health, education and housing.
She paid 1.9 million for a studio apartment! Wow 😑
Why is nobody talking about Cruptocurrency at this moment? It's on a bull run and a lot of people are defintely gonna miss out
I'm a huge fan of Crypto. I hold a few coins in my blockchain wallet
Been investing in the crypto world for 2yrs now I can say its really profitable
Yes no doubt investing in crypto seems to be the best an easy way to make money nowadays
I wanted to trade crypto but got confused by the fluctuations in price
@@araceliharris5142 Me too, I've got interest in investing but afraid of doing it on my own to avoid loss from my end, Just last week I loss about $5,400
in my Country Houses are not expensive like this🇰🇵💖
You must be smoking pot ???
@@chanceDdog2009 don’t talk to dear leader this way
some never been out from their country. believing their country is best.
I know, it's free...
all rise to the leader
what a pity , it's just outrageously expensive and drives all the people there insane! But, why are they so rich to buy residential properties there for those who can buy?
Because of the approximately 5.3million individuals in China earning dollar-millionaires
As someone from western Canada it sounds very similar. Crazy housing prices and lots of empty houses. Making things impossible for the people who live there. Vancouver is not far behind Hong Kong.
Vox did a great video that goes even deeper into the housing crisis in HK
The projects done changed😳
Man those houses are so tiny...i would be surprised if someone has clusterphobia in those living conditions. This should really change
I went to Hong Kong 2 years ago and this isn't surprising. You can see a lot of packed housing area everywhere
"Thats a fourth of a parking space" damn...
granted that even parking spaces in hk are narrower and in many cases cannot even half open the door on both sides, but yeah even parking spaces sell for some 2mil HKD. it's just insane.
@@gwongcy04 didn't know that, parking spaces are pretty small here too. I have to squeeze through the door sometimes
Housing in Hong Kong was and is still a very good investment as the prices keep growing, it is true that the prices reached to the point that the population in poverty line aren’t able to afford them. But it’s not only the lower-class people suffering, but it’s everyone who’s living in Hong Kong, middle-class people are usually able to afford around a 100 square metre apartment (5mil usd)(we used to live above Elements)but have to take a 30 year loan, and you also have to pass a strict stress test which requires your income to be double of what you’re paying for your debt each month. And imagine sharing a 100 square metre home with your parents, siblings, and a maid, you’ll just run out of space and start dreaming about migrating to somewhere else.
Jesus Christ that's terrible. $2 mil in hong kong gets you some single floor apartment that's 1/5th the size of my house and I only paid $320,000 for it...
30 years ago I lived in an apartment in the Mid-levels of Hong Kong. Great view of the whole city. Over 2600 square feet. Nice patio. Probably worth a couple million US dollars back then. I can’t even imagine what it is worth now.
I can attest to this. I have lived in hong kong for 10 years. I pay almost HALF my monthly salary for rent in a 450 square foot one bedroom flat.
Why are you still living there? I've lived in many cities in 4 different countries, I can't understand how people can accept such terrible conditions.
And how much have you paid?
In UAE , you can get 3bhk for 20k usd per year
@@comradetoxic629 what does 3bhk means?
@@chubbygardener 3 bedroom , 3 bathroom and a hall
The government knows the importance of maintaining the beautiful nature that surrounds them.
That $360 a month for the 30 sq ft 'coffin homes' rent is surreal. There's a house currently being rented across the street from where I live for around $400 a month, and for that money you'll get a 2100 sq ft property, 3 bedrooms, running water, full air conditioning, enough parking space for 2 cars AND a backyard. Fully furnished too.
Heck, my rent back in college was $75 a month for a 250 sq ft single bedroom, a bathroom, full AC, and free wifi all year long. Suddenly I feel blessed.
HK government: I refuse to cut trees and release land.
HK citizens: fine, I’m cheaper than trees.
You can't cut the trees. The real estate guys will remove his suit and take on the environmentalist T-shirt and appear in front of your house protesting.
I live in Brazil and here we have so many problens, but not like this, we have a lot of space! i dont want to complain aboult my life anymore, i know that exist so many ppl in worst condition out there
I would pick Hong Kong over Brazil any day
@@orson9880 Even with the horrible goverment?
As always, the government is at fault. Artificially inflating prices by lowering supply.
you could buy 4 or 5 houses in canada with 1.9 million$ which means your could live in 1 house and have the other 4 houses for people to rent or put a mortgage on it SO YOU COULD LITTERALY JUST SIT IN YOUR HOUSE ALL DAY NOT WORRYING ABOUT MONEY this is crazy
What this story doesn’t tell you was in late 90s, the Hong Kong administrator at the time tried to develop the land so the city can build more housing for the increasing population. Guess what, the city representatives elected by people all voted against the development because they have good relationship with development moguls (control the supply) and existing home owners don’t want price decrease. Younger Hong Kongers really have nobody to blame except their own parents older hong Kongers.
I live in Hong Kong and many buildings aren’t renovated and extremely old and still being used for people to live in or used to become shops. It pretty dangerous cause the structure isn’t as stable anymore plus the hygiene isn’t good. Really hope the government will do something about this it’s terrible for the people that have to deal with this!
It is like a dystopian world.
So USA on steroids
@@YTworld-69 yes it is a shithole
The most annoying thing about HK is that it's not about how nice the apartment is, but rather what part it's in and how many sqft. I lived in a 150 sqft apartment in wan chai infested with cockroaches for 9000 hkd a month, and I lived in a brand new 300 sqft apartment in tko for 12000.
@@electrictutorial1 Are you from HK? Just wondering, how many % of young people say between 28 - 35 who can afford their own homes?
hong kong is a refrigerator, so thats why its so expensive.
more like a humidor
they do have the temperature of refrigerators when u walk into the buildings, right on haha
@Hezekiah Francois Urua yep
In my country, a 100K House could get you a big house (mini mansion) and you only need to pay around $100 - $1K per month..
Imagine being in quarantine in those small apartments...
Dang , after seeing this we say it cost alot to live some places and it cost way more other places lol.
I am a Hong Kong local and I want the world to know that we don't enjoy living here. Our government together with the Chinese government don't care much about us but only know to find ways lucrative to those who are already rich and in power. If you happen to come across Hong Kongers, please be kind to us. Thank you!
Better live on the streets . . .
Sorry to ask, but why don’t you guys migrate somewhere where your attributes and skills will be more valued and you’ll be able to have more comfortable lives in less crowded places or at least cities with more space? I swear if any Hongkoners came to my country you’d be rich and hold the best positions in any company
@@agme8045 like going to old school u.s. or u.k? what top offers do they get? cia director? lolz, how many top companies ceo are asians, let alone people from Singapore and hong kong? i ak pretty sure there are more people from hong kong getting good spots in mainland chinese company than western companies
I wouldn't be able to take it. I would save every dime for 10 years and plot to move to a different country.
@@royhsieh4307 Hong Kongers are treated as foreigners in China. We don't want to risk ourselves there. One day you are KING and you lose everything another day.
I feel so bad for the man. Be grateful for what u have. Not everyone has the same life style as u.😣
Nguyen is a Vietnam name right?
Why? Because people are willing to pay for it, as simple as that. When you stop buying over inflated things the price of that same thing goes down
Hong Kong renting is more expensive than singapore 🥺
I love my bathroom from this moment
Same here
Many believe one of the major keys to success is waking up early each and every day. Having a head start before everyone one else and being on step ahead at all times and fully prepared. When others are still sleeping you are already working.
Big week in the market this week, loads of fundamentals from all over the world that will have a high impact on the market.
Despite the economic crisis, this is a Still a good time to invest in Gold and Crypto
Invest in crypto, silver, or Gold💯
Stocks are good but crypto is better
Investing in Crypto now is the best especially with the current rise in the market now;
My current investment in stock and crypto are really given current increase
Advice to anyone visiting Hong Kong 🇭🇰 don’t stay at an Airbnb. It is another reason why the housing crisis is bad and those are also part of owners investments.
So were all just gonna pretend we didnt see the fleshlight and lotion right beside his bed at 1:27
Well spotted! But can you really blame the poor fella? No way is he getting a lady friend in there.
Hey old bald guys have desires too yknow
HAHA! I Saw that too. 😂
A standalone vagina is just about all there is room for.
That's sad😔 Hopefully things get better for everyone !!!
thanks!
OMG I never thought that I am lucky enough. Hong Kong looks so outdated. I think they cannot rebuild an apartment like South Korea or any other countries. When it comes to South Korea,
Korea is so much modern because they keep on renovating old buildings and develop out dated areas as their plans.
When I went there, I was so impressed how clean it was and modern and so beautiful cities over there.
However, I also want to visit Hong Kong as well.
Korea has a strong industrial economy that Hong Kong does not. Industry is very important to the middle class. Hong Kong is stuck in an extreme rich/poor combination due to its distorted service economy. Unfortunately, without Singapore-style government control, many of the poor and even the lower-middle classes cannot live humanely.
1:25 heartbreaking situation.... but he obviously isn't worried about anyone seeing his 'toy' lol
i was searching for this comment
@@pafboy same lmao
I can see why moving to the UK would be an appealing option
Not for the people living in the U.k. who then see the prices of their houses shoot up!
I never felt so broke while traveling in others asia...until I went to Hong Kong lol
Now even Thailand is getting more expensive - you need to go to places like Sri Lanka to feel like a rich man!
Well Tokyo, Seoul and Singapore already more expensive compared to mainland europe, except London and Nordic cities
As a Hongkonger I am so jealous of people in the western areas like United States,they get multiple floors and a backyard is like a basic reuqirement for a proper housing! I live in a building so I am blessed I am not living in coffin homes.
They almost exterminated an entire race for the land, still jealous ?
As being an hongkonger, it is just barely not affordable for an local to buy or even rent a flat. Living with family till 30 or above is still common. And some who are married do the same. Sad
Damn, just shows how some of us take things for granted
I think it shows how greedy their government is for not utilizing all of that land. This is the reason corruption is so important to stomp out in political leaders.
Hong Kong: We don't know why housing is so expensive
Everyone else watching: Well maybe if you actually build housing for others instead of leasing land to the highest bidder insuring only the rich dictate what housing prices should be?
problem with that is nobody is happy to support that - we dont want taxes to increase.
Moreover, a lot of people in HK, especially the middle and upper class, do not want prices to go down. They've got too much skin in housing investments.
We barely pay any taxes - max is 17% income tax and thats just for billionaires. Most of us dont even need to pay a single dime to our own version of the IRS. Yet we get great infrastructure, healthcare, etc.
Missing an important point. Half of the population Hong Kong live in public housing, including home ownership scheme and renting off the government.
Damn image how expensive it is to repair Hong Kong after godzilla and kong destroyed the city
As a kid my family could never own a house and it was hard but even we had a bigger place to live; I feel bed for Hong Kong people 🥺
One really important reason. The high price of the House market is one of Government income. Land Auctions need the crazy market to keep the price high.
Other the other hand, when the building finishes. Few TAX is about the house price.
So the hi GOV no reason to Push the market down.
Instead of blaming property investors, we should blame the government for poor land management.
Pricing in HK is very dependent on the specific circumstances of the dwelling. Well serviced areas are very expensive, but more remote satellite towns are far less expensive per unit area. There is a very small percentage of people with no dwelling so they tend to be seen in small scale when they set up in metro tunnels and bridges. HK has mild weather, so living outside is no where as bad as say London or San Francisco. A recent SCMP article has a great multi-layer graphic to reveal the design of some of the Divided-Flats.
This is just unbelievable! I wonder what would happen to the prices of property when/if the main Chinese government took control?
@@businessinsider7657 bot
If China had its way, I think they would forcefully regulate the market and rezone the land properly, and also siphon off a piece of Shenzhen to quickly and drastically build up Hong Kong's residential land supply. The private housing market would "collapse" in the sense that all those nanoflats would become worthless, and people who bought into them would be royally screwed. But that's how China rolls, solving problems ruthlessly.
it would drop, many mainland chinese use hk property as an easy store of value away from communisms eyes.
I pay $825 a month for 400 sq ft and I think it's ridiculous, I couldn't imagine paying the prices they charge in cities like Hong Kong, NYC etc.
Hongkong housing are so expensive despite having so much unused lands... unlike Singapore which are expensive due to limited land....its all about the government...
Mrs Rose Robert and her method works like magic I keep earning single week with new strategy
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Rose Robert
She help me recovered what I lost trying to trade myself
Thanks for introducing me to Mrs Rose Robert
My first experience with Mrs Rose Robert gave me profit of over $24,000 and ever since then she has never failed to deliver and I can even say she's the most sincere broker I've know.
Mrs Rose Robert has changed my financial status for the best. All thanks to my aunt who introduced her to me.