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Hsieh unveils policy on housing

Democratic Progressive Party presidential candidate Frank Hsieh, left, stumps for legislative candidate Wang Shih-cheng, center, in Taipei yesterday. PHOTO: GEORGE TSORNG, TAIPEI TIMES

Democratic Progressive Party (DPP) presidential candidate Frank Hsieh (謝長廷) yesterday unveiled his housing policy, proposing that the government rent out public housing to young people at discount rates.

Slamming Taipei City's real estate policy, Hsieh said the bubble would burst when investors from Taiwan, China and Hong Kong stopped buying real estate in the capital.

He proposed that the government release state-owned land for the construction of public housing to be rented to people above 25 years of age. Such a privilege would be offered on a once-in-a-life-time basis.

To alleviate the financial burden on young tenants, the government would offer a 40 percent discount on rent for the first two years and 20 percent discount for another two years.

He also proposed a low interest loan program to make real estate affordable to young people. Under the program, first-time buyers would be entitled to interest-free loans. The government would also build more dormitories on campuses and make efforts to stabilize real estate prices so that young people could afford a house of their own.

"My idea of economic prosperity is first to ease the plight of the people," he said. "If elected, I will make an effort to create more jobs, give jobless people something to do, make houses more affordable, let homeless people have a house of their own and let those who rent a house be able to afford to buy one."

Hsieh criticized his election rival, former Taipei mayor Ma Ying-jeou (馬英九), for being a "princeling" used to a luxurious lifestyle removed from the poor.

Hsieh said the reason he chose to make his housing policy public at Taipei 101 was because he wanted to highlight the contrast between high real estate prices in the city's Xinyi District and young economically disadvantaged people.

"Some people promote the idea of improving the economy, but the measures they propose are quite shallow and their direction is wrong," he said.

"People have the right to pursue happiness just like they have the right to a referendum. The government should provide the people with an environment where they have the right and opportunity to pursue happiness," Hsieh said.

If Ma were elected president, Hsieh said, real estate prices in Taipei could rise to NT$1 million (US$30,000) per ping. In other words, a person with a standard income would have to work for a year to be able to afford a ping.

"The middle class will become the new poor," he said. "Young people in Taipei City don't have any hope for the future and many have moved elsewhere."
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