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Soaring Property Prices Dash Chinese Home Ownership Dreams
Soaring property prices in Chinese cities are a grim reality facing those dreaming of home ownership.
Now living in Shanghai, 24-year-old Chen Jian and his girlfriend Zhu Qiong are getting married at the end of the year. Like many Chinese, they were hoping to get a place of their own.
[Chen Jian, Shanghai Resident]
"I’ve started looking for a home because I’m about to get married to my girlfriend. I had been looking at properties for a while and all I can say is that the price of properties is difficult to accept. I feel they’re relatively expensive. The ratio of my personal income to that of the price you have to pay for the property is not very balanced."
Together, Chen and Zhu make the equivalent of 1,000 US dollars per month. The mortgage payment on the apartment they want would take up nearly 70% of that.
Property prices around China’s economic hubs have shot up over the last few years, as rural workers and foreign investors head there in search of opportunity.
The Wall Street Journal reports that property prices across 70 Chinese cities increased by nine-and-a-half percent year-to-year in January, the fastest pace in nearly two years.
Fearing a property bubble, the Chinese regime has already tightened monetary policy to help cap the rise of land prices and residential markets. But many local communist officials and public projects rely heavily on property-related income—so they have an incentive to keep prices rising. And with the property sector being the main pillar of China’s economy—holding up 10% of its GDP—Beijing is avoiding taking aggressive measures.
For now, with property prices out of reach for millions of middle-class Chinese, they will have to swallow the fact that their dreams of owning a home may just have to wait.
Author: 
NTDTV
Tags: NTD NTDTV Asia Brief China Shanghai Soaring property prices Dash Chinese Home Ownership Dreams
Posted: 03 March 2010
Rating: 5.0
Votes: 1
Free Mortgage Calculator - How much home can you afford?
http://www.charlestonmlssearch.net Get 1/2 our commission, and get our new free computerized service which automatically searches out and downloads a current list of all such properties day in and day out. When you receive this free, no obligation service, you're automatically plugged in to the most current list of every property even Foreclosure Properties on the market, in the price range and area that interests you. This FREE service every day will save you a lot of research and running around.
Author: 
Market4MillionsTV
Tags: Free Mortgage Calculator Rent own lease purchase Charleston MLS Search Carolina Condos Homes for sale charleston
Posted: 01 April 2010
Rating: 5.0
Votes: 1
How To Get a Reverse Mortgage
The Home Equity Conversion Mortgage, known as a reverse mortgage, allows you to cash in on the accrued value of your home. Find out what's involved and how you can benefit from this program.
Author: 
Howcast
Tags: reverse mortgage get home equity conversion value house program receive earn apply eligible
Posted: 20 July 2010
Rating: 0.0
Votes: 0
New job, new mortgage payment?
Tamika wants to refinance her home after a drop in income. HLN Money Expert Clark Howard weighs in.
Author: 
CNN_International
Tags: CNN lifestyle people
Posted: 21 July 2010
Rating: 0.0
Votes: 0
How to compare mortgages on Google
Here's what to do if you'd like to find a home through Google and want to look into your potential mortgage rates online. The Google Compare Mortgages tool is free and easy to use @ butterscotch.com: http://bit.ly/9kFxWY
Author: 
butterscotchcom
Tags: butterscotch.com tucows.com video tutorial howto google. google mortgage calculator molly mcdonald
Posted: 17 May 2010
Rating: 0.0
Votes: 0
MCC (Mortgage Credit Certificate)
More information on the MCC and how you can save 10s of thousands of dollars on your first home purchase
Author: 
selfcarl
Tags: seattle real estate home mortgage loans first time buyer
Posted: 21 October 2009
Rating: 0.0
Votes: 0
Howdini _ How to Buy a Home
Howdini series page at Hulu.comFirst time home buyers have a million questions, and luckily, CNN financial editor and author Gerri Willis has a million answers. Here's what you need to know before you buy a home.
Author: 
hulu
Tags: mortgage tips affording a mortgage first time buyer real estate tips how to buy a house howdini when to buy a home
Posted: 16 April 2010
Rating: 0.0
Votes: 0
How To Streamline Your FHA Mortgage
Refinance your home with an FHA streamlined mortgage using these helpful hints.
Author: Howcast
Tags: HotHowTos streamline fha mortgage insurance fha-insured lower fixed-rate refinance loan federal insured
Posted: 12 March 2010
Rating: 0.0
Votes: 0