This document is based on Hong Kong’s housing authority over the past 50 years. Hong Kong is renowned for its extensive public housing program. Since 1973, the restructured Hong Kong Housing Authority (HA) has had the overall responsibility for building, allocating, and managing public housing. In the past decades, it has performed its tasks with great success. However, in recent years it has met with serious challenges due to the economic downturn and changes in aspirations for housing among the people of Hong Kong.  In the past decades, it has performed its tasks with great success. However, in recent years it has met with serious challenges due to the economic downturn and changes in aspirations for housing among the people of Hong Kong. Therefore, it will be of value to review the financial arrangement of HA and its predecessors over the past 50 years to provide insights into the future of HA. This paper will analyze three aspects of HA’s financial arrangements. Firstly, the change in financial tools and financial terms between the government and the HA in the past decades will be examined. Secondly, the trends and patterns in the HA’s income and expenditure are scrutinized. Lastly, the financial sustainability of the HA is evaluated. With the increased concern with the poor living environment of the general public, the government became more determined to help people in need to reside in a safer living environment. A White Paper was prepared in 1964 to review the policies for Squatter Control, Resettlement & Government Low-cost Housing.