2/28/2007
lesson from hongkong
The lesson from Hongkong
Many have pointed to Hongkong as an example to what our lives will be with 6.5 million people. One thing for sure, our HDB flats are likely to shrink further. They have started to shrink in anticipation of the great and vibrant future of more talented people.
Singaporeans looking forward to the great life in the future should imagine themselves cooping inside much smaller HDB flats. Oops, I mean the heartlanders. Those who have the dole can always enjoy the liberty of free space in their landed properties, with gardens and swimming pools. Definitely space is not a problem to them.
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16 comments:
You can't get away from Natural Law. When population and prosperity increases in a fixed area of land, the unit cost of land will rise.
You left out one aspect of (my favourite territory) prosperous Hong Kong — so many of its tough and successful citizens own property overseas.
So what if a 800 sq ft flat costs $1mill? If the place is prosperous, chances are you will be wealthy too, which means you can buy land in another country. HK'ers are big players in mainland China's real estate market, as well as markets all over the world – Singapore, Canada, USA, UK, Australia... etc etc.
What is the alternative? Socialism and welfarism — where the govt controls the market.
Fact is, no one can control the market for a long time. any attempts to do so in the short-term introduce "bad consequences" in the long-term
when singaporeans have to be cooped in a 800 sq ft flat, i can find no reason to call it a better quality of life. when a 800 sq ft flat costs $1 mil, i mean hdb, i don't think it is a good thing except for those who want to opt out and quit this hotel.
chances you u will be wealthy too?
you must be kidding
You are confusing being wealthy with being rich—i.e. having a lot of money.
For e.g. a developed, wealthy country has good roads, nice parks, nice architecture, clean water, dependable electricity supplies, waste disposal and deep sewage, health care services etc. Even the poorest people in the society have a share in enjoying these things.
Contrast that with someone living in a place like Rwanda. Even if you had money, your quality of life would be shit.
Also, in a prosperous country, opportunities for wealth creation abound.
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