政壇：睇社論學英文：房策畫餅難充飢 翻箱倒篋濟燃眉
施政報告雖然花了逾五分一篇幅論述房屋政策，可惜只有遠景，未有短期措施紓緩樓市當前的供求失衡問題，結果是救火不成，反而火上加油，過去數周樓市應聲反彈，價量齊飆，多區樓價再創歷史新高。無可奈何之下，房委會宣布推售最後一批八百多個居屋貨尾單位，並計劃把大澳龍田村八十多個長期空置單位改建居屋出售。
港府費盡思量加推居屋單位，意欲以增加短期供應壓抑樓市居高不下的走勢，只是當需求遠大於供應量，隨時事與願違。以下月推售的居屋貨尾單位為例，一旦超額申請數以十倍計，當局未來數年再拿不出居屋貨尾單位應市，向隅者只能轉向居屋二手市場，助長二手居屋價格上升。當局盡地一煲式的處事手法露出底牌，向市場發出技窮訊息。
金管局總裁陳德霖指，本港樓價已與實體經濟及市民收入脫節。當局一方面暗示樓市存在泡沫爆破風險，現時應不是市民置業的適當時機，另一方面又連問題多多的居屋貨尾單位也急急推售，根本是自相矛盾。
假如中籤市民日後遇上加息周期重臨等不利因素，港府豈非製造道德風險，變相鼓勵更多市民摸頂置業？
The illusive housing policy fails to feed the hunger, even when no stone has been left unturned to meet the urgent need
Although the Policy Address spends 1/5 of its length on housing policy, there is, unfortunately, only long-term vision, but no short-term alleviation measure to address the imbalance between supply and demand. As a result, instead of subducing the fire, the Policy Address does the opposite by adding fuel to it. In the past few weeks, the real estate market rebounded and saw rises in both sales and price. The property price in many districts broke yet another historical record. Having no way out, the Housing Authority announced that the last batch of over 800 remaining Home Ownership Scheme (HOS) units would be launched into the market. The 80-plus flats in Lung Tin Estate, Tai O, which have been vacant for a long time, would also be converted to HOS units and put on sale.
At its wits' end, the Government decides to sell more HOS flats in a bid to increase short-term supply so as to suppress the ever-rising property price. However, as the present supply falls far short of the demand, things may turn out contrary to the Government's wishes. Take the remaining HOS flats to be launched next month as an example.
If the number of application exceeds the number of units by an order of magnitude and the Government is unable to furnish any more HOS flats in the coming few years, those who fail to buy a unit will have to turn to the HOS secondary market, inducing its price to shoot up. The Government's last-ditch attempt only reveals that it has come to the end of its rope.
Norman Chan, the Chief Executive of the Hong Kong Monetary Authority, points out that the local property price has already diverged from the real economy and people's income. The administration is sending out contradictory messages. On one hand, it hints that there is a risk of bubble bursting in the real estate market, so now is not the right time to purchase properties. On the other hand, it rushes to sell the remaining flawed HOS flats.
What if the citizens who successfully buy an HOS unit this time encounter unfavourable factors in the future, such as the return of the interest rate hike cycle? Is the Government not taking a moral hazard by encouraging them to buy properties at the market's peak?
重要生字
leave no stone unturned 翻箱倒篋,千方百計
come to the end of one's rope 技窮
moral hazard 道德風險