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HOUSING

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by

Tak Chi Lam

on 29 October 2014

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Transcript of HOUSING

HOUSING
design by Dóri Sirály for Prezi
Beipiao? Mortgage slave? Housing price boom? Still single?

Housing affordability in urban China
Governmental aspect
Urbanization: 7-7.5 billion urban population by 2020

The emergence ---- social and economic transition
The Economic and Comfortable Housing (ECH) Program
Government policies
Potential slump

affect economic growth and cause a nationwide financial crisis
affect individual capital gains social instability
housing affordability
Affordability of housing expenditures
Economic dilemma

Guessing Game
The Cheap Rental Housing (CRH) Program
The Housing Provident Fund (HPF) Program
The Capped-price Housing(CPH)
The Public Rental Housing (PRH)Scheme
Negative influences
Inequality and Injustice Social instability

Economy—widen the regional gaps
Quality of life—improvement with loopholes
Living conditions
Public services
While… opaque policy, corruption, unfairness and welfare losses
Traditional culture—no house no marriage?
Education
Graduates (ant tribes, beipiao)
School district housing inequality of education resources

Environment—challenges
Per capita green area (9.71㎡ in 2009; 11.18㎡ in 2011)
Population density in urban center
Harmless treatment rate of garbage
Sewage treatment rate


WHY?
ECH
:high income limits  most upper-middle-income households eligible
CRH
: 1. lack enforcement mechanism
2. new slumsdrop in house price

HPF
: lack enforcement employers contribution rate varies

CPH
: X clear information management system
X check eligibility of applicants
PRH
: 1.X housing developers support
long time for capital return
2. X clear info system
X check eligibility of applicants

 Local gov lacks incentive: bear high costs + less profits
 migrant workers X access housing due to hukou system
Economic aspect
speculative demand for housing store of wealth housing price
urbanization ppl live in urban area demand
Social aspect
Change of traditional family concept in nuclear family  demand on household


Possible Solutions
 Short term
1. Regulate the “villages in cities” ensure satisfactory living environment
2. Lower income limits for affordable housing
3. Subsidize vacant housing owners rent out flats at affordable price
4. Establish united system to check eligibility of applicants
5. setting up poverty lines
 Long term
1. Delink the hukou system with welfare access
2. Allow some work companies to carry out ECH projects provide lower price housing to employees
3. Central gov involve more in local welfare provision
e.g. regular check

Challenges
1. $ & manpower
2. Vacant housing owners reluctant to rent out flats

Short term
 Long term
1.  financial burden to gov.
2. Small enterprises X capital to invest in ECH projects
3. Central gov . workload

Video time
How to measure
Price- or expenditure-to-income ratio
Accessibility to public services (access to jobs, the minimum distance from nearby facilities, the number of facilities within a fixed distance…)
Housing Affordability Index (HAI)

Mainland vs HK
Hukou restriction
different low-income family definition in different cities
low % public housing
low transparency
no Hukou system
fixed definition
47% public housing
cooperate with NGO
(HK Housing Society)
How many years will they spend on buying a house?
Housing price = 6 times of their annual income
For average middle-class families
answer: at least 50 years
10? 15?20?
(2011 Engel's Coefficient: 0.363 ,may need to consider the growth of housing price)
corruption : use flats as bribery
people still can't afford housing with these policies
Inefficiency of government policies
largest public housing program
similar to hosing ownership program in HK
for medium-to-low-income households
15% lower than commercial housing
1999-2010, 7.6% of housing is ECH
hukou restriction
state-owned housing property
bottom income group of urban population
dibao
provide public housing or rental allowance
hukou restriction
urban middle-income families
fixed size and price
hukou restriction
new migrants, new college graduates, and urban middle-income needy families
no hukou restriction
long-term housing fund
assist home financing
the work unit and the individual contribute the fund
no hukou restriction
Sheng Qiao Wei (Jovita)
Cheu Wing Sum (Jacinth)
Lam Tak Chi(Arron)
Ho Chun Kuen
Full transcript