Let’s push housing prices up even further by subsidizing buyers currently unable to afford homes. The proposer seems to think that earmarking proceeds from land/housing-based revenues for this purpose makes the idea elegant. But public money raised from any source would have the same result – more cash being bid for the same number of units, resulting in… Ah! Higher margins for developers. Maybe that’s the point. Carry on.
When you use another of his job titles it all becomes much clearer:
“Young or middle-class Hongkongers struggling with sky-high rents should be given leg-up onto housing ladder through interest-free loans, says Director of Property Developer Hang Lung Group.”
At which point “Dr” Dr G[not erry] Adams will invariably work “leg over” into his contribution.
“Young or middle-class”? Yes, let’s exclude the middle-aged working-class, who don’t deserve any better.
The most basic lesson in Economics would show this won’t work – unless we push 10,000 other people off the bottom of the housing ladder. Or (shock, horror) actually build an extra 10,000 units a year. Yeah, sure.