Multiple high-rise towers in Hong Kong on fire right now

LezJepzin

We Wavy
Supporter
Joined
May 1, 2012
Messages
38,875
Reputation
5,768
Daps
87,840
Reppin
50East/Sacramento, CA

Scustin Bieburr

Baby baybee baybee UUUGH
Joined
May 3, 2012
Messages
23,477
Reputation
13,106
Daps
136,070
Hong Kong is a dystopia. If you're born rich, it's a paradise. If you're born poor, you have to work and save up enough money so that your grandchildren might be able to afford a home all whilst living in a housing environment that makes a scandanivian prison cell look like 5 star accommodation.

Part of the reason housing prices are higher in places like Australia, UK and Canada is because people in Hong Kong are worried about what's going to happen to their land if China takes it over. In China, all land is government owned. If you think you're buying a home, you're actually leasing it from the government. In Hong Kong, not only are you owning your home, but the taxes are some of the lowest on earth. All that is going to change if China takes it over and makes it an official Chinese province.

Compared to the cost of a home in Hong Kong, 500k on an apartment in Vancouver, NY, or Sydney is not a big deal. So naturally they're trying to buy that shyt so they have their money stored up in a foreign asset. When you're trying to buy a home, this means you're also competing against the wealthy people of asia which is a continent with a quarter of the world's entire population. They have more of anything INCLUDING millionaires who want to use another country's housing market like a bank.
 

Low End Derrick

Veteran
Joined
May 8, 2014
Messages
19,375
Reputation
7,404
Daps
85,283
Top