"1. Build really tall. Hasn't worked out all that great in Hong Kong, though."
What do you mean when you say it hasn't worked out great in Hong Kong? Is it because prices are still high in a lot of neighborhoods there? I'd say the build-really-tall strategy has worked out quite well in HK. There is a range of affordability in close proximity with good transit, and lots of parks and open space. It's a remarkably livable city.
The fundamental problem is that real estate in major cities has become a scarce luxury good covered by the wealthy. Restrictions on building - rent control and aggressive property taxes basically fall into this category - only make things worse.
The only way to make Vancouver, SF, and anywhere else affordable is to radically increase supply relative to demand. In practice things aren't that simple.
The best bet for someone looking to live and raise a family is probably your fourth option. There are a lot of really nice cities out there.
They certainly are in plenty of neighborhoods - especially compared to other cities in China. The thing is that despite the tall buildings there isn't actually that much supply on HK island itself because it's so tiny. Still, I think there's a much bigger range relative to overall quality of urban life compared to, say, SF. And things get a lot more affordable across the harbor in Kowloon and in the New Territories. Though, even there it's probably not cheap compared to most cities in mainland China.
I'm far from an expert on this though, and maybe I'm off base here. I've just spent time there and looked at real estate and been struck by how not impossible it was to find reasonable places at reasonable prices compared to the Bay Area.
The price are through the roof, and you have to compare it to Median salary. The price per Square Feet / or Square Meter is expensive.
Of coz if you are working in Hong Kong as a wealthy individual you would have no problem enjoying everything HK has to offer. This is the same as any other place in the world.
You have to also include the City and State difference. Vancouver has a problem with Median Salary to Housing price at 10, and Sydney is at 12.
Hong Kong is 19. Which means if HK property prices dropped by 50% it will still be around the same level as Vancouver.......
What do you mean when you say it hasn't worked out great in Hong Kong? Is it because prices are still high in a lot of neighborhoods there? I'd say the build-really-tall strategy has worked out quite well in HK. There is a range of affordability in close proximity with good transit, and lots of parks and open space. It's a remarkably livable city.
The fundamental problem is that real estate in major cities has become a scarce luxury good covered by the wealthy. Restrictions on building - rent control and aggressive property taxes basically fall into this category - only make things worse.
The only way to make Vancouver, SF, and anywhere else affordable is to radically increase supply relative to demand. In practice things aren't that simple.
The best bet for someone looking to live and raise a family is probably your fourth option. There are a lot of really nice cities out there.