Very low land value taxes and interest rates are levied on construction projects, which allows companies to maintain unused land and empty buildings, thereby perpetuating high housing prices, which leads to the government subsidizing young house buyers’ loans and interest rates. Financial institutions and developers make good profits, while teachers in Taipei will forever be “landlord’s slaves.”
Ma’s duty is to clean up these pseudo-reforms and efforts to perpetuate corrupt practices, not to perpetuate them and ruin Taiwan in the process.
Lin Terng-yaw is a retired law professor who taught at Tunghai University.
Translated by Perry Svensson