A poll by the Chinese University of Hong Kong found that 70% of 1,855 families interviewed were fearful their children would be homeless.
The parents stress levels were dependent on their earnings – those earning less than HK$20,000 a month is grouped as low income, HK$20,000 to HK$49,000 as middle, and above HK%50,000 well off – 53 percent of those in the low-income bracket felt the pressure about buying a flat, 50 percent in the middle income group and 29% in the well off.
However, higher income families are pessimistic about their children’s future – only 7% think their children can face a better future than their generation.
The Standard reported a middle class mother said that back in the day, she had hope to own a home one day, but it seems pretty impossible for her son, who just started working, to realistically have that hope.
Some are suggesting the government should provide support and subsidies to young people to buy flats.
Photo: See-ming Lee, Flickr
