Self-interest plain in alarm over economy
Most of these Harmony Club members are involved in the property market, and they anticipate that if they withdraw from this market, “property prices will fall, the stock market will slump, and the economy will be hit”. These tycoons are expressing blatant self-interest when they call on the government to give them “a free hand” in the private housing market.
Their strident statements and political adverts will create disharmony: they are failing to connect the dots. Out-of-sight property prices are one of the principal reasons why Hong Kong’s young people have been expressing radical localist and anti-establishment sentiments.
Property has a direct knock-on effect on the cost of living, and it is generally accepted that it is mainland money that has ramped up the property market here. In the article (“Fringe dwelling”, November 28), Vincent Ng, president of the Hong Kong Institute of Architects, remarks that people’s homes are getting smaller, and “property developers see housing as a commodity to maximise their profits, instead of a place to live”.
I surmise that these club members will likewise view their investments here as space stores of value rather than homes. The sizes now on offer are not viable for family life, and the government should impose minimum room-size regulations.
Expecting property developers to voluntarily apply ethics is like expecting rabbits not to eat lettuce. In this context, may I suggest that these Shenzhen members change the spelling of their club name from Harmony to “Ha-money”.