The housing ladder and Hong Kong housing market’s boom and bust cycle

Research output: Working paperWorking paper seriesWorking Paper

Abstract

This paper presents evidence, based on the recent Hong Kong experience, for the existence of a “housing ladder effect.” An increase of housing equity at the bottom of the ladder tends to translate into a trading up activity that will both increase housing market turnover and buoy up the entire housing market. Based on a natural experiment through the introduction of a public housing privatization scheme, this papers presents evidence supporting this story using a logit model and a price-volume causality test.
Original languageEnglish
Place of PublicationHong Kong
PublisherCentre for Public Policy Studies
Number of pages24
Publication statusPublished - Apr 2008

Publication series

NameCentre for Public Policy Studies Working Paper Series
PublisherLingnan University
No.190

Fingerprint

Hong Kong
Housing market
Turnover
Equity
Causality test
Public housing
Natural experiment
Evidence-based
Logit model
Privatization

Bibliographical note

Support from the RGC Grants Committee of Hong Kong (LU3008/00H) is gratefully acknowledged.

Cite this

HO, L. S., & WONG, G. W. (2008). The housing ladder and Hong Kong housing market’s boom and bust cycle. (Centre for Public Policy Studies Working Paper Series; No. 190). Hong Kong: Centre for Public Policy Studies.
HO, Lok Sang ; WONG, Gary Wai-chung. / The housing ladder and Hong Kong housing market’s boom and bust cycle. Hong Kong : Centre for Public Policy Studies, 2008. (Centre for Public Policy Studies Working Paper Series; 190).
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HO, LS & WONG, GW 2008 'The housing ladder and Hong Kong housing market’s boom and bust cycle' Centre for Public Policy Studies Working Paper Series, no. 190, Centre for Public Policy Studies, Hong Kong.

The housing ladder and Hong Kong housing market’s boom and bust cycle. / HO, Lok Sang; WONG, Gary Wai-chung.

Hong Kong : Centre for Public Policy Studies, 2008. (Centre for Public Policy Studies Working Paper Series; No. 190).

Research output: Working paperWorking paper seriesWorking Paper

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HO LS, WONG GW. The housing ladder and Hong Kong housing market’s boom and bust cycle. Hong Kong: Centre for Public Policy Studies. 2008 Apr. (Centre for Public Policy Studies Working Paper Series; 190).