Governments should maintain market-neutrality by, firstly, steadily making available enough land to meet population growth, and not artificially supporting or depressing prices, which would make cyclical movements bigger later. Secondly, instead of building HOS and Public Rental Housing, they should make payments to meet people’s actual income shortfalls for buying or renting homes at their choice. Benefits would be on a sliding scale to encourage upward mobility. Existing PRH would be sold or rented at market rates.
Broader social and economic objectives would be achieved. Income disparity would be mitigated. Appreciating homes for the poor would provide retirement protection, as the population ages. On the Mainland, consumption and investment would be boosted by such a policy.
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