All of this jibber jabber means nothing until you actually get called for something or the other. Applied in June, still waiting. I would also like to add that the CX CPP is a very rare opportunity for aspiring pilots and should not be neglected. People who expected to buy a Merc straight out of school should stay away. Its a lot of hard work and we will have to make sacrifices. I for one, have no doubt that the CPP is a much better way to go than going self-sponsored. Not the least because very few people can even afford to go this way. Some accountants may find it cheaper but you cannot put a price on a well paid job as a pilot especially during those tough times. Housing allowance or not, getting selected for that program is the opportunity of a life-time and should not be neglected. It will take a couple of years before things get better but at first you have to make sacrifices. Anyways you start as an SO and I dont think you can expect much with that title. You have to work your way up. This kind of program will really distinguish between those who are there for the love of flying and those who are there for the glory and feel the need to get paid bucketloads as soon as they start working as if the world owed it to them.
Edit: Ive come across the CX payscales and even if housing is expensive in HK I doubt you will get that kind of salary as an SO anywhere else in the world.