Letters | How Lee Kuan Yew effect could help Hong Kong solve its housing crisis
- The free market doesn’t really exist, and the government has a necessary role in regulating demand
Stop allowing the market and public to dictate our housing policy. To begin with, there aren’t any real “free markets” in this world and this ideological term is simply used by certain business groups when a government hands-off approach benefits them. Governments exist in this age to help, steer, influence and intervene in many forms.
The inability to solve our long-standing housing crisis is a testament to the faults in our current system, allowing objections to get in the government’s way.
We all know the influential landlord/ tycoon class does not want a substantial increase in housing supply; that would push prices down. However, the masses also object to other well-intended government initiatives.
Unfortunately, many in society aren’t informed or considerate enough, while every party/vested interest has its own objection to solutions that the government comes up with; that’s why we never can solve our housing problem. This is eroding our city’s competitiveness and quality of life.
Our society often blames the government, the lack of democracy and China for all our ills, but have you ever thought: did we bring this upon ourselves?
The government should stop consulting and stop worrying about consensus and public opinion, and do what’s right for the future. At the end of her term, at least this chief executive could proudly say she solved our perennial problem.
Bernard E.S. Lee, Tsuen Wan