Leung, Charles Ka Yui; Ng, Joe Cho Yiu; Tang, Edward Chi Ho - 2020 - This version: March 2020
The house price in Hong Kong is well-known to be "unaffordable." This paper argues that the commonly used house price-to-income ratio may be misleading in an economy with almost half of the population living in either public rental housing or subsidized ownership. Moreover, we re-focus on the...