Chapter 7 Housing
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State intervention to promote the idea of home ownership amongst working households was strategically beneficial as it could reinforce economic growth and urban renewal through the boosting of construction sectors. It was also useful to kickstart economic expansion when markets for other assets were not developed. East Asian economies experienced the fastest pace of urbanisation ever recorded. Wealth creation through housing properties also supplemented insufficient welfare provisions. The pursuit of home ownership, in particular, was considered to be a fair strategy of distributing limited resources without resorting to the idea of social rights. Importantly, the self-reliance of home-owning households would effectively make the expansion of citizenship rights and public welfare provision progressively redundant. In political terms, the growing number of home-owning households would develop a sense of economic stake in society, thereby establishing as well as consolidating the conservative agendas.

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