Homeownership, Cohort Trajectories and Hong Kong’s Post-80 Generation

The “post-80 generation” is a focus of social concern in recent years in both Hong Kong and Mainland China. It refers to the age cohort born after 1980 who benefited from the expansion of higher education yet frustrated by the lack of work prospects when they entered the work force at the time Hong Kong was hit by the worst recession since the Second World War. Likewise, their access to homeownership is seriously thwarted by the rocket high property price brought about by the hottest boom in recent decades. It appears that a new generational fissure has been created in Hong Kong. This paper will examine issues of housing affordability and housing aspiration of young people within the context of perceived slowdown of social mobility, worsening ability in becoming homeowners and cessation of the assisted homeownership scheme. Based on the analysis of the population census of Hong Kong, it will look at housing achievement of age cohorts in the last thirty years as well as the changing education and employment profiles of young people. It will then examine problem of affordability of young people by simulating the purchasing power of model households. Findings from indepth interviews with young people will also be presented to explore the housing aspiration of the post-80 generation in relation to their anticipated housing career.