I have a great interest in Hong Kong. Their people are the #1 readers of this blog,
with the US in a close 2nd.
Singapore is in 3rd position.
The low life that was our 45th president says that there are
great benefits to being a star. The
statistics show that if there were a thousand people in my front yard in Hong
Kong, one of them would have read my blog, while in America it would require a
million folks in the front yard for there to be two reads. This, for me, would be a reason to consider
moving there. So naturally, I researched
real estate values in Hong Kong. A 1500
square foot townhouse sells for three to five million dollars there. This effectively removes the top middle
income folks and those below them to obtain reasonable housing. I do not consider 3 bedrooms … 3 families
reasonable. In Hong Kong a recent
college graduate with a family moves in with his parents.
I believe that Hong Kong offers an opportunity
to view the canary in the mine rendition of The Free Market Economy in real estate. The “affordable housing” words are fast
becoming an oxymoron in coastal America and even desirable inland cities. I took a little over two decades for Hong
Kong to fall off of the cliff to insanity.
I believe we Americans can do it faster.
Hell, we already have a pretty good start in removing affordable housing
from our thriving commercial locations.
Why is Free Market (greed) such a strong
driving force in an economy? Please
revisit my Golden Goose Economy post. Those who enter the economy are generally
interested in personal income. Those who
are driven by success and are successful at obtaining their goals generally
have the malignant form of survival instinct, greed, as their north star. This driving force places profit above
reason. Those who have this trait, our
successful financial leaders, are willing to destroy the society in exchange
for personal financial gain. Do I sound
like a God Damn Commie here? I am
not. I spent my business life as a
motorcycle dealer. I’m a
Capitalist. I tried to keep my customers
happy and myself, my employees and my family happy as well. I believe that these goals give more
satisfaction in the long run than greed offers.
My home (1350 sq.ft.) was built to sell for
$17,500 in the 1970s. My wife and I
purchased it for $144,000 in 2002. The
present market value is twice that. What
will it be in another two decades? Look
to Hong Kong for a clue. At some point
in time an “effective government” (another oxymoron) will have to step in and
stop the insanity. Good luck with that
taking place. “Gold Rules.”
Cheers, Old
Buz June 23rd, 2024
Iambloggerbuz.blogspot.com
The Free Market:
“We will not fully appreciate the value of water until
an Elon Musk or a Jeff Bezos owns our water company.” – Old Buz
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