In the wake of skyrocketing prices on parking spots, citizens have taken advantage of alternative cost-effective measures to ensure a guaranteed parking area for their personal vehicles. As a result, the streets of Hong Kong have become extremely congested as it has transformed into a parking spot haven for its citizens, causing traffic to be unable to go through.
Hong Kong currently has the most expensive parking spots in the world, with one parking spot on The Peak recently selling for HK$10.2 billion. On Sunday morning, a viral post on the Hong Kong forum LIHKG showcased a tired office worker’s discovery that led to the troubled situation today. The post explained that the average price for renting a parking space hourly is HK$526. Hence, an average citizen owning a car would have to pay an additional HK$378,720 per month just for their car to exist. However, the fine for illegally parking is currently HK$320 per hour, thus parking on the side of the street would only cost HK$230,400, saving almost HK$150,000 dollars. The revelation has sparked a sense of unity among citizens as the movement has been dubbed as a “silent protest” against the rising price of land.
“The government is doing a terrible job at budgeting, and should fire all their current finance and accounting managers. Their wages have an opportunity cost; Instead, rich tycoons should invest in parking spot lottery giveaways for productive workers that commit their whole lives to work. That would boost the economy. In addition, the cost of fines should be readjusted to be over the current prices of parking spaces. That’ll get rid of those greedy pigs’ fantasies.” says Chief Economist Toe Chan.
Citizens going out to work or school have been advised to use the MTR or to leave the house 8 hours in advance. “This is outrageous, I might as well walk to work.” says a Big Cheese, whose car was parked on the streets of Central.
One fellow pencil pusher has praised the situation, saying that it was a battle against the evil forces of capitalism and the shackles that were placed upon them by society. They added, “Honestly, the police can’t be fining ALL of us for each hour we park so technically there’s a discount :) ”
The government commented on the situation, “We are ashamed of the current state of critical thinking from our citizens. The problem here does not lie in the property bubble that we created through artificial supply, but instead the teachers that lend a corrupt hand at damaging society’s brilliant minds.”
The situation has been scheduled to be discussed in the upcoming LegCo meeting.
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