Abstract
Privatizing the public rental housing estates would create a very large client pool of elderly homeowners willing to take advantage of mortgage-backed annuity schemes in the era of modern finance. This would create better opportunities for diversifying risks associated with the uncertainty of life expectancy. A bigger market could lead to better terms to the benefit of all participants. And, if the elderly poor in our public housing estates became homeowners, perhaps their children would pay them more attention. In principle, recurrent government funding is not required because it would be financed by land that currently has no market value because public rental housing units are nontraded assets. Selling public rental housing units to sitting tenants would restore the market value of a non- traded asset that could provide old age support for elderly people.
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