Such a nice piece of blog and lots of in-depth thoughts, thanks a lot for sharing. Totally agree with you the "four essential ingredients to this astonishing success story", which will surely guide other governments when designing their own housing programs. Another ingredient that may also worthy mentioned here maybe "Fair, open and transparent procedure for housing distribution"? There are many papers on this and I also believe the distribution procedure helps to enhance citizen's ownership of the project and see houses provided under the program are "public goods", rather than "pure commodity". Just some thoughts, many thanks for the sharing.
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