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With high property prices, is it OK to rent forever?[1]- [Copy link] 中文

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Post time 2015-9-3 14:10:28 |Display all floors
This post was edited by pnp at 2015-9-3 17:26

Renting is the way to go. In Chinese cities a small apartment costs more than a million yuan, often two or three million depending on locality, but they are of very poor quality, with defects surfacing even before the owners move in, and the developers couldn't care once they have received the full purchase price. Cutting corners and cheating on labor and material is the norm in the building trade.
With renting, any defect is the problem of the landlord, and the tenant can move off to another location anytime with little hassle.
Save the millons of purchase price and invest it; that's enough to pay for the rental many times over! The Chinese have the traditional belief of owning the house they live in, so that they can pass it on to their children. That belief is must change; there is no need to own the house, it's just a roof over the head. Renting still gives one the roof over the head; it is silly to tie down millions of yuan on just a roof over the head!

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