No_5_1955 — Page 7

EDITORIAL

AND NOW, MIDDLE CLASS CO-OPERATIVE HOUSING?

זי

After a thorough study of the Re- If this is true of re-seulfment and out of the Commissioner for Reset- low-cost housing why not go one for serious thought to be given to It is therefore an appropriate time Ilmol, a review of which is given step further and we win perhaps this problem of Tousing the middle if these pages, one cannot help belag find the anancing of middle mass class through the medium of a build- Impressed by the immensity and com- housing just as worth while.

The Ing society. ur inllding szcielles. plexity of the situation which ver- backbone of the Colony, as of every which can offer from. 54 to 7% 20- lainly was not or our seeking, but community, is the white collar class turn on capital unrested in thươn, the apich, having been thrust upon us things and are the hub of which our sale as houses”

the middle class people who ran security for which is hally "us had to be accepted us a responsibility whokt economic system revolves Musi The first few years there was a of them are spending between 25. For feling that the smallers were but 9 and 50% of their incomes on ronts. porary Bulunce, they came sud- and the mujurity are spending it for dedy, and as suddenly they would accommodation that is not worth a kutust This hope producet an as quarter of what they are paying tch-like blindness to the fact that Providing these people with good the problem was growing into in ccommodation

а rent within mense proportions unt!! disaster ram- their means which will purmit them med lume the realization that the Eyentually to acquire ownership smaller problem was here to stay thereof would bave far-reaching Effects on the political and economie stability of the Colony,

L

and that urgent ineasures were re- quwed to bring the situation under control.

ועי

By that time, we were laced with the disagrerable prescription, which j. iwe HiTective, would mean that mill- lluns of dollars would have to be upont, and spent quickly, and that uny measures taken would have to be Ц very long term basis, When Chix unpalatable potion had been thoroughly digested and the decision tukin to spend the money, it wan band that we might not after all hem at on the proposition Tha Tumay spent. U taken over a long ronach term of years, could be re- Karded as an Investment, with low miurne, it is true, but fairly sate. In the second place. wê were giving humatu assistance to hundreds and thousands of men, women and child ren, and the credit for that was great Indeed. And thirdly, we were ensur In zloble labour supply for Hong Kung's growing Industries, and the Colt value of that was incalculable

When W

the

Offhand we would say that there no quick and ready way of ark

this problem, but a very prouts- one would be along the lines of various civil servänds peor Live building societies which with Government assistance and encour agement. are vigorously developing a plan of self-housing on the safest and soundest of financial and econo- mic principles.

Unfortunately, in this Colony The difficulty ni obtaining financial GR- sklance

Teraquble interest basis is not the only handicap whlch has to be overcome Under present draumstances its reasonable ti vapect that this position tan anıt will be remedied.

The real obstacle in the restricted area of the Colony and the shortage of level ground within reasonable distance of the business centres upon

luch large scale groups of residences sklence for familles of medium in- can be developed The idea -

come Is thr ‚ two-storeyed JAZ- detached house with some garden area surrounding it in Hong Kong, level ground is practically non-exis- tow and the demand for land and cost of site turmulion a such thi the uttermost stretch of imaginatiDu cannot visualize suburban growth of this nature,

In all countries every encourage-

The alternative is blocks of apart- ment is offered to the responsible ments six to twiler survya higli, each elements. through the medium ut surrounded by a fair amount of open building societies and similar institu- space which will ensure ample light Bons, to acquire their own home and and through ventilation for all apart- 30 boy a solid and enduring interest monts and provide safe playgrounds In the community in which they live for the children. These wpartments. and work. Hong Kong's whole future bullt on a co-operative basis, respon- may depend upon similar benefits sibly managed and emciently main- citizens who can, and want to, take investment and practical use built- being made available to those of our tained, should prove attractive as an advantage of the opportunity to our ing proposition chase their own homes over a fea- sonable period of time,

Building sites for a large number of such apartment blocks cag be Up to now the finance for the type found without ton much difficulty u When we lụnk back on the whole of investment has not been available. road and transport facilities wWIT Boblem we cannot help but feel that The attitude had teen that the improved 50 as to enable suitable The initial reluctance to do anything future of Hong Kong 13 problematicui outlying areas Both on the Islandt

■bout the squatters arose from the and that any money invested here and on the Mainland to be brougla It that it would mean spending must yield far above the average within reuter aures, to the bustness money and we were hoping at this fate to compensate for the risk - centres -nuld not be necessary.

volved. It cannot be gainsalą that could not hulp vurselves and we had on Fantastle profits were being made able to promote cu-operative building Given the premise that I Is desir- for many years after the reaccion- In spend money, we were surprised in Hong Kong with finance feverish of middle chis apartments Cover- w And it was not quite as painiul as by taking advantage of the boum ment can give the necessary assh- We thought and that on the whole years which it was generally belleved tanre and encouragement in three might turo out to be a good thing. would be of limited duration During Ways First. by town planning nit- the past few years, however, cun- able areas and improving mad an- We are now committed to spending, fidence in the Colony's future hus cess to them, second, by selling land denly and Indirectly over a hand-heep growing and pante thinking has by private treaty to bona fide and my milion dollars of public funds. been dying out. Investors are not approveḍ mu-operative socioltes at a im the housing of refugees. workers only brooming reconciled in, but are fair value and third. by extending and low-income group wage earners. sutisfied with reasonable returns on Ananeal assistance for this class of and strangely enough has made local investments on the basis that building. though on a compurativety Uz a community. feel better and will

smaller zule, ma with far better Is the course of the next few years,

returns than is necessary for reset- uls) mak. us look bertet.

tlement and low nos housing

this Colony is as safe a place as any for their investment, and certainly less restricted and taxed than most.

5