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Mortgage dilemma impacts homeowners

0 CommentsPrint E-mail CNTV, December 14, 2010
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As China continues to take additional measures to curb soaring real estate prices, property price booms often follow. This situation is negatively affecting many new home owners.

 

Li Man, who owns an 80-square-meter house in Beijing. She purchased her home a year and a half ago. By the time she pays 4,000 yuan for her monthly mortgage, she only has only 1,000 yuan of her salary left.

Li Man said, "My parents gave me some money last year, and since then I started to pay the mortgage. They are not leading an easy life as well, so I feel guilty I still relied on them when buying this house."

Born in 1987, enjoying a stable job, and owning a house and a car, Li Man belongs to a high class group in Beijing, at least, compared with those in her same age group. But her life is not easy. Sometimes she has to worry about how much to pay for basic needs, and food.

Fortunately, or unfortunately, Li Man is not alone. There are half of people out of the entire house owners in China, leading their lives just to afford a house each month, many of them are post-1980s, and they are quoted as Mortgage Slaves or House Slaves.

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