Wednesday, 15 December 2010

Show Me the Money

Surprise surprise -- young people in Hong Kong just want to make money so they can buy property.
Some 57.1 percent say their top goal is to own property, which entails making money, or accumulate their "first bucket of gold" (40.1 percent).
The results of the survey were released by the Bauhinia Foundation Research Centre, a privately funded public-policy think tank. It conducted the survey between August and October questioning 865 people between the ages of 16 and 35.
"I hope to buy a flat in 10 years' time because having property will make life easier," said Marcus Ko Ho-man, a postgraduate student of education at Chinese University. "I think I'll need to save HK$1 million for that and I'll make investments."
His views are very practical, but hardly ambitious in terms of getting a job that broadens horizons towards the mainland or the world.
Dr Chung Kim-wah, director of the centre for social policy studies at Polytechnic University says such opinions like Ko's are due to unstable economic factors like the fluctuating housing market. "They tend to think of themselves first," he said.
The third highest aspiration was completing higher education (33.5 percent), probably as a way to earn more money, to buy property.
It's sad to see from the survey that getting married was only 14.1 percent, living overseas was a dismal 8.7 percent and having children was 19.9 percent. So it seems more people want to have children but not thinking about tying the knot to do it. Interesting. Did they interview more men than women?
The lowest score was 1.2 percent for living on the mainland.
While it's much cheaper to live there, the news reports about media freedoms, the tainted milk scandal and how human rights activists are treated have definitely scared off young people from even considering living across the border.
Or maybe it's made them even more appreciative of Hong Kong.

1 comment:

  1. the 4 basics of life--shelter,clothing, food and locomotion. among them shelter is the most expensive item. i don't blame the young people putting acquiring shelter first priority. the problem in hong kong is particularly acute because of the small size of the city. the government ganged up with developers is either unable or unwilling the develop more suburbs or control land prices.