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Diversity and Occasional AnarchyOn Deep Economic and Social Contradictions in Hong Kong$
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Yue Chim Richard Wong

Print publication date: 2013

Print ISBN-13: 9789888139446

Published to Hong Kong Scholarship Online: January 2014

DOI: 10.5790/hongkong/9789888139446.001.0001

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Why Is Housing So Expensive?

Why Is Housing So Expensive?

Chapter:
(p.147) 15 Why Is Housing So Expensive?
Source:
Diversity and Occasional Anarchy
Author(s):

Yue Chim Richard Wong

Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789888139446.003.0015

According to the traditional point of view, demand for residential flats outstrips land supply because of high housing prices. Another viewpoint claims that housing prices soar because of an array of government regulations on zoning, planning, as well as other restrictions on buildings. Professor Edward Glaeser of Harvard University discovered that the housing crisis in the States was chiefly triggered by the high cost imposed by zoning and other land use controls. This chapter glances at two factors that modify the housing supply environment and the consequences posed to society by high property prices.

Keywords:   Housing crisis, Housing prices, Housing supply, Government regulations, Housing, Policies, Hong Kong, China, Economy

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