One issue that hasn't been raised is that expats can use the housing system to buy many properties over their career, I know two F/Os with 10 properties each in HK, both less than 10yrs in CX.
It's all a gamble I know and could go tits up for them. The point is CEPs are NOT given the OPPORTUNITY to do this.
All expats know that it's the housing they are coming for as they can make more money in the property market than CX ever pays.
When CX gives pay rises they adjust the housing scheme!
One more point the $24K for Local Captains is NOT housing it is a level D allowance paid to all Local level D staff. It does not change or get adjusted with inflation like housing does.