Colour in Han Culture

As the Lunar new year approaches,  some British schools teaches their students some Han culture.   So "red is lucky",  is it really?

So the Wikipedia English page on Colour in Chinese culture concurs,  except they tie their article on colours tying with "five elements".  And everyone knows in order to thrive in the five elements ideology,  all five elements must be balanced or enhanced, so red (fire) is only good for people with "earth element", and red would be bad for you if you are "gold element".

Then when you navigate onto the Chinese page of the same topic,  it has no mention that red is lucky.  It lists out all the colours mentioned in ancient texts,  red is not a big element in that article.

The last big reference,  in culture and languages, to red would be Ming Dynasty (14-17th century)  and their government officials jackets were red and reddish purple when you are a high ranking official,  aka prosperous.   

Then after that,  the Qing is "water element =black" hence they quenched the Ming fire,  and their government official jackets were black. 

I also cannot think of why everything is red in Chinese new year,  if I really have to make up a reason is that,  in early Spring / late Winter,  everyone looks pale and sickly,  and red is the only colour would bring a nice glow to ones face.