Home » Opinion » Press Notes
Challenges of 90% home ownership
By Tan Haojun |
May 16, 2012, Wednesday
|
Print Edition
Print Edition
IT appears a miracle - as well as a challenge - that nearly 90 percent of Chinese families own their homes.
The People's Bank of China and the Southwestern University of Finance and Economics released a joint report on Sunday on China's family finance, which found that 89.68 percent of Chinese families own at least one home, compared to the world's average rate of about 60 percent.
In a way, the report lends support to the argument that real individual demand for housing - not just business speculation and government reliance on selling land for fiscal revenue - has helped push up real estate prices in China. Indeed, too many young people and their parents make owning a house the very prerequisite for marriage.
Although they hate that house prices are getting higher and higher, many Chinese regard owning a house the biggest goal of life and the only source of happiness. At the same time, the government is partly to blame, because it has yet to provide most Chinese affordable rental apartments.
The People's Bank of China and the Southwestern University of Finance and Economics released a joint report on Sunday on China's family finance, which found that 89.68 percent of Chinese families own at least one home, compared to the world's average rate of about 60 percent.
In a way, the report lends support to the argument that real individual demand for housing - not just business speculation and government reliance on selling land for fiscal revenue - has helped push up real estate prices in China. Indeed, too many young people and their parents make owning a house the very prerequisite for marriage.
Although they hate that house prices are getting higher and higher, many Chinese regard owning a house the biggest goal of life and the only source of happiness. At the same time, the government is partly to blame, because it has yet to provide most Chinese affordable rental apartments.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
