Hong Kong Families Struggle With Pricey Homes

Hong Kong Chief Executive Carrie Lam officially announced a new “Starter Homes” scheme this month to help middle-class families own their first home. A 27-year-old bank employee, Jeffrey Chan, was left unmoved by the announcement. The combined income of Chan and his fiancee is about HK$7,000 ($897.01), which is short of what they need to qualify to buy a subsidized apartment with the new “Starter Homes” scheme. In a research note, Morgan Stanley estimates only about 170,000 households can benefit from the Read More …