"Twenty years ago, NO one would have come to HK without housing....for a reason. If it's such a great deal, then why doesn't AT get a HKPA...?"
True, and think about how much cheaper housing and other costs of living were back then... The housing allowance was originally offered such that a pilot could keep his/her property in his home country and also rent/buy something decent in Hong Kong. This was the only way to attract qualified pilots to Hong Kong. Now, CX recruits some qualified and mostly unqualified pilots on very similar packages and expects them to live in squalor their entire careers.
Until cadets start leaving in droves, this won't change. The question is... Are you going to be one of those who leaves or the one who stays HOPING things will get better someday???