Unmarried young women are the culprit of soaring house prices?

Unmarried young women are the culprit of soaring house prices?
Dec 23, 2007 01:37
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	Do you know why the house prices are so high in China? Who is the culprit? According to a developer's view, those unmarried young women are the main culprit. Why? About 90 percent girls wouldn't get married with a man without a house. Or at least, their future husband can afford the down payment. For this reason, the house price is skyrocketing. What's more, many girls now prefer to get married late (25 to 30 years old). Thus, in his opinion, the government should make a law that those below 35 years old people shouldn't buy their house. In this way, the house prices will go down quickly. Personally, I think it is really ridiculous. What do you think of his view?

Dec 23, 2007 01:37

JIMMYB
Points:
Join Date: Feb 7, 2007
Status: offline

Do you know why the house prices are so high in China? Who is the culprit? According to a developer's view, those unmarried young women are the main culprit. Why? About 90 percent girls wouldn't get married with a man without a house. Or at least, their future husband can afford the down payment. For this reason, the house price is skyrocketing. What's more, many girls now prefer to get married late (25 to 30 years old). Thus, in his opinion, the government should make a law that those below 35 years old people shouldn't buy their house. In this way, the house prices will go down quickly.

Personally, I think it is really ridiculous. What do you think of his view?

Dec 23, 2007 02:13

ELLEN77
Points:
Join Date: Feb 7, 2007
Status: Offline

Yes, how absurd!
The root is the rapid urbanization of China, and these greedy businessmen just take advantage of this to extract more money from the common.
Now more people are crowding to the city, however their share of lands are left in the countryside, which are not allowed to be developed to the houses of citizens. That is why the land in the city is so 'valuable'.
There is no reason for the young to live an floating life! Why they worth so?

Dec 23, 2007 19:10

SHESGOTTOBE
Points:
Join Date: Nov 23, 2007
Status: Offline

Hmm… you seem to be so hung up on women, marriage and housing, JimmyB. What gives? ^_^

I thought it was supposed to be a joke. There’s more to it really. Here's what I found on China Daily:
Source: http://www.chinadaily.com.cn/bizchina/2007-12/22/content_6341161.htm

Future of real estate industry
(China Daily)
Updated: 2007-12-22 11:13

Whether China's real estate industry is at a turning point depends upon three factors - migration of farmers, urbanization and lack of investment channels, says a signed article in the China Business Report. The following is an excerpt.

This winter, neither property developers nor property purchasers have had a good time. Vanke, the largest housing developer in China, was the first developer to lower the price of houses recently. Wang Shi, chairman of Vanke, also claimed that China's real estate industry was at a turning point. Many other developers agreed with Wang and house prices in first-tier cities like Guangzhou and Shenzhen started to drop.

Does this mean China's real estate market has reached a turning point?

At present, the government has been strictly regulating the real estate industry. What the public cares about most is not whether real estate developers can weather these tough regulations. They care about their own homes. For those people who haven't bought houses, they want to know when they can buy a home of their own at a suitable price. Previous experience told them that the more the government regulated the real estate industry, the more expensive houses would be.

Meanwhile, those who have already bought their own homes want to make sure whether the government can really protect their assets from shrinking in value.

As for the future trend of China's real estate industry, three factors must be taken into account. The first is gross domestic product. If China's economy can maintain annual growth of 7 to 8 percent, China's real estate industry is sure to attract a lot of purchasers. The second is urbanization.

As long as China continues to allow farmers to migrate to cities, their need for homes is huge. What's more, a great number of university graduates need to buy houses as they merge into city life every year. That's why Feng Lun, another property mogul, joked that it is unmarried young women that push up housing prices for they usually want to marry men with houses; if we strictly stipulate that house purchasers must be above the age of 35, the need for houses would shrink.

Thirdly, China lacks channels for investment. If a Chinese person earns money, stocks and houses are the only two things he or she may buy. It's unlike foreign countries where various financial products are available. If the above three assumptions are true, China's real estate industry will continue to have a bright future.

Post a Reply to: Unmarried young women are the culprit of soaring house prices?