GoGoVan's 32-year-old founder is not a home owner and proud of it.
In the five years since launching his on-demand logistics platform, Steven Lam has seen his initial team of eight balloon from their shoe box-sized office in Kowloon, Hong Kong into a billion-dollar business with over 2,000 staff and 8 million drivers. Yet, even today, he rents an apartment in the same low-income district in which he grew up.
That's no accident. In fact, it wasn't until he got married last year that he moved out of the 400 square feet high-rise apartment he shared with his parents. And he's in no hurry to get on the property ladder soon.
"To me, it's about having a place to stay, it's not an investment," Lam told CNBC Make It.
It's an unusual mentality for a newly-minted millennial. New research suggests that buying a home ranks as the most important life milestone among young people today. And according to self-made millionaire David Bach, not prioritizing property is "the single biggest mistake" you can make. But for Lam, owning a property simply isn't a priority.