The Home Ownership Scheme and the My Home Purchase Plan are an official admission that the government's land policy fails to provide homes that match both the space requirements and the pockets of Hong Kong citizens.
For far too long, the government has been addicted to revenue from selling land to the highest bidder without any regard to the end use, or end user.
The handful of property companies that can afford to purchase land have been allowed to dictate to government, and this is the single most serious indictment against Donald Tsang Yam-kuen's administration.
It has created intolerable living conditions for thousands of citizens who contributed their working lives to the betterment of Hong Kong only to see all rewards for those many years of labour going into the pockets of those few tycoons.
Capitalist businessmen will by nature maximise profit and attempt to create a monopoly, or, failing that, a cartel. It is the purpose of government to moderate in the interests of the overall community and the government has failed miserably.
It should be responsible for basic public housing for rental to the poorest and most disadvantaged in our society. The private sector should supply appropriate homes for everyone else.