「沙士價買樓」仲會有？入市前，2大建議必須知！想複製「上一代」發達方程式？但怕買樓變了負累？【施傅教學】#樓市 #減息 #供樓 #負資產

Summary

This video explores the heated generational debate on whether to buy property in today's market. It compares the favorable property environment after the 2003 SARS crisis, which led to significant profits for the older generation, to the current high-cost, high-interest landscape. The host discusses affordability, risks, and changing market dynamics, advising viewers to focus on their financial preparedness and timing. Emphasizing the importance of thorough research and diversified investments, the video invites reflection on whether replicating past success in real estate is still possible for the younger generation.

Takeaways

• 🏠 The debate about buying property often creates tension between generations, with older generations seeing property as a secure investment, while younger generations may not share this view.
• 📉 The proportion of young people under 35 who are homeowners in Hong Kong has dropped significantly from 22% in 1997 to 7.6% in 2019, reflecting a decline in enthusiasm for property ownership.
• 🌍 Hong Kong has ranked as the world’s least affordable housing market for 14 consecutive years, requiring an average family to save for 16.7 years without spending to afford a home.
• 💸 The cost of buying property today is significantly higher compared to the past, making it less accessible for younger generations.
• 📊 During the post-SARS period, property prices in Hong Kong surged by over 200% in a decade, allowing the older generation to accumulate wealth through real estate investments.
• 🏦 Interest rates during the SARS era were much lower (around 2-3%), making borrowing cheaper. Today’s high-interest-rate environment makes home ownership more financially challenging.
• 🗝️ Affordability remains a crucial factor, and tying up all financial resources in a single property may not be the best decision for everyone, especially in uncertain times.
• 🚫 Recent government measures to stabilize the real estate market, such as pausing land sales, are seen as short-term fixes rather than solutions for long-term affordability for young people.
• 📈 While the older generation profited from previous real estate cycles, replicating the same formula in today’s environment may not yield the same results due to different economic and market conditions.
• 💡 The speaker advises young people to diversify their investments, save diligently, and remain prepared for opportunities in both local and global real estate markets, rather than rushing into buying property in Hong Kong.

Q & A

Why is the topic of buying property controversial between generations?

The older generation sees property as a stable investment and believes not buying property will lead to regret, while younger generations may view this belief as outdated due to current economic realities.

What are the key reasons behind the decline in homeownership among people under 35 in Hong Kong?

According to government data, the percentage of homeownership among people under 35 has dropped from 22% in 1997 to 7.6% in 2019, largely due to unaffordable housing prices, as Hong Kong has been ranked the most unaffordable housing market globally for 14 consecutive years.

How have housing prices changed in Hong Kong from 2003 to today?

In 2003, during the SARS outbreak, property prices in Hong Kong hit rock bottom, but with the recovery of the economy, prices soared by over 200% in the next decade. Today, although prices have fallen by about 25% in recent years, they are still considered very high.

What are the key factors that should be considered when deciding whether to buy property?

Key factors include affordability, interest rates, housing supply and demand, and one's personal financial situation. A property purchase typically requires a long-term financial commitment, and the cost may impact other aspects of life.

What is the 'Price to Income Ratio' and how has it changed over time?

The Price to Income Ratio measures the number of years of income required to buy a home. During the SARS outbreak, it was around six years. Today, the ratio has increased to 16.7 years, indicating a significant increase in housing unaffordability.

How did low interest rates in the past benefit property buyers?

After the SARS outbreak, mortgage rates were generally low, around 2-3%, reducing borrowing costs and making home purchases more affordable for those who could enter the market at that time.

Why might it be more difficult for today's generation to replicate the property investment success of previous generations?

The current high-interest-rate environment, along with high property prices and economic uncertainty, makes it harder for today's generation to achieve the same success. Furthermore, supply-demand imbalances have not yet shifted to make buying property as attractive as it was for the previous generation.

What does the speaker suggest regarding housing policies and their impact on young buyers?

The speaker notes that recent government measures, such as the cancellation of land sales and adjustments to property-related taxes, provide temporary relief but do not fundamentally reduce the high barrier to homeownership for young people.

What strategies does the speaker recommend for those who find buying property unaffordable?

The speaker suggests focusing on saving and diversifying investments. Even if someone cannot afford to buy property in Hong Kong, they can explore overseas real estate options or rent locally while building up passive income streams.

What is the speaker's overall advice regarding property investments?

The speaker advises potential buyers to prepare thoroughly by studying economic conditions, saving sufficient funds, and waiting for the right market opportunity before making a move. He emphasizes the importance of readiness and research rather than blindly copying past success.