4. (8 marks) "If you're looking to save money on housing, you probably shouldn't live in...
4. (8 marks) “If you’re looking to save money on housing, you probably shouldn’t live in Hong Kong. It’s home to the world’s most expensive rent, according to Deutsche Bank’s 2019 edition of its annual ‘Mapping the World’s Prices’ report.” Source: Business Insider. (2020, Jan 20). The 25 cities with the highest rental prices in the world: does Hong Kong top the list? a. State one factor on demand and one factor on supply to explain the rising rent in...
State one factor on demand and one factor on supply to explain the rising rent in the housing market in Hong Kong in the past decade. (2 marks) With the aid of a demand-and-supply diagram, explain the impacts on tenants and landlords when the government provides per-unit subsidy to landlords. (6 marks)