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This book studies the cultural framework of the connections between
homeownership and social stability in Hong Kong. In the post-war
period, homeownership became the most preferable housing choice in
developed societies, such as Australia, Britain, Japan, Spain, and
the United States. In the financialization era, its proliferation
aggregated enormous wealth and debt in the housing and mortgage
markets, affecting social stability by creating inequality and
housing unaffordability. Hong Kong is the most extreme example of
this among developed societies - in recent years, the city has made
international headlines both for its housing problem and its social
instability. By studying the history of homeownership in Hong Kong
over a period of four decades, Chung-kin Tsang proposes that
homeownership is inseparable from the social imagination of the
future, conceptualizing this framework as "hope mechanism". This
perspective helps trace the connections between 'House Buying' as a
hope mechanism - one which is central to subject formation, life
goals, and temporal mapping for socially shared life planning - and
social stability. Given its unique approach, specifically its use
of "hope" as an analytical category, this book will prove to be a
useful resource for scholars in economic culture and
financialization, and Asian Studies, especially those working on
the cultural, sociopolitical, and economic history of Hong Kong.
This book studies the cultural framework of the connections between
homeownership and social stability in Hong Kong. In the post-war
period, homeownership became the most preferable housing choice in
developed societies, such as Australia, Britain, Japan, Spain, and
the United States. In the financialization era, its proliferation
aggregated enormous wealth and debt in the housing and mortgage
markets, affecting social stability by creating inequality and
housing unaffordability. Hong Kong is the most extreme example of
this among developed societies - in recent years, the city has made
international headlines both for its housing problem and its social
instability. By studying the history of homeownership in Hong Kong
over a period of four decades, Chung-kin Tsang proposes that
homeownership is inseparable from the social imagination of the
future, conceptualizing this framework as "hope mechanism". This
perspective helps trace the connections between 'House Buying' as a
hope mechanism - one which is central to subject formation, life
goals, and temporal mapping for socially shared life planning - and
social stability. Given its unique approach, specifically its use
of "hope" as an analytical category, this book will prove to be a
useful resource for scholars in economic culture and
financialization, and Asian Studies, especially those working on
the cultural, sociopolitical, and economic history of Hong Kong.
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