 Moving to my next point, the social effects of high property prices in Hong Kong, this can perhaps best be illustrated by the study of the Tokyo property bubble by Dorothy Chan in 2009. As you can see from the slide, that research showed that four out of five university graduates living in Tokyo were more likely to stay living with their parents well into their late 20s and even mid-30s if the property prices were seen to be too high for fresh graduates. As that paper argued, this means that these so-called parasite singles can still be dependent on their parents and they often even lack basic domestic skills. Chan gave the example of adult males not being able to boil an egg, while adult females could not use a washing machine or iron their clothes. However, there are some problems of trying to translate the findings of this study to Hong Kong. First, the sample size used by Chan was very small, with only 15 males and nine females being interviewed. Second, the family social structure in Tokyo is different to that of Hong Kong. Therefore, it is questionable whether all the social effects of a property bubble as seen in Tokyo will also be seen in Hong Kong. Perhaps younger people in Hong Kong are more independently minded, so they would not want to stay living with their parents. Instead, they might share flats with friends. More details of this paper are in the reference list at the end of my presentation if you'd like to find out more. My next point concerns the possibility of social upheaval.