The 'three necessities' for a wife

[David48atTD]

Shanghai is one of the world's most expensive and fast-rising property markets.


How China's property boom is costing young lovers

A Chinese real estate agent once told me the country's real estate boom should be attributed to all the Chinese mothers who refuse to
let their daughters marry men who do not own property.


No matter how fast China is urbanising, the traditional idea of getting married before starting a career still significantly affects Chinese society.

The 'three necessities' for a wife

The prerequisite for marriage for Chinese men has traditionally been thought to be the ownership of "three necessities".

• In the 1970s, the three necessities were the ownership of a bicycle, a watch, and a sewing machine.
• Ten years later, it was a fridge, a TV and a washing machine.
• In the 1990s, Chinese men required an air-conditioner, a computer, and a DVD player.

Nowadays the three necessities have evolved to an apartment, a car and a good amount of savings in the bank. But property is a priority.

A hierarchy of cities

Real estate agent Guangmei He enjoys her single life in Beijing, but the price of property has pushed away her dream of becoming a Beijing resident.


Guangmei He enjoys living in Beijing but has opted for buying a cheaper property in Inner Mongolia.

"I will never afford to buy an apartment in Beijing," she says.
Instead, Ms He, 23, has decided to buy an apartment in Tonghua in Inner Mongolia.

"I think it is necessary to invest in real estate when you are young," she says.
"I can get an apartment for a good price of 5,000 yuan ($1030) per square [metre] in the downtown of my hometown."


'Home loan slaves'

Some Chinese celebrities and entrepreneurs advise young people to focus on further education and career goals.
They tell them to enjoy life instead of becoming "home loan slaves".

Chairman of Alibaba Group Jack Ma says young people should not give up their dreams to purchase property,
and that the price of real estate will drop in eight years.

More here

[David48atTD]

^ From the same article ...

Outdated 'urban passport' system

Chinese President Xi Jinping has said that "houses are for living in, not for speculation".
The central government has started encouraging renting to cool down the price of real estate.

But China's strict household registration system — known as hukou — has led residents to prefer buying to renting.

Started in 1954, hukou is a kind of urban passport, which determines the holders' access to public services based on their birthplace.

It means citizens who have rural or secondary or tertiary city hukou are not entitled to all public services while renting in Beijing or Shanghai.
China has started to reform this outdated system, yet it is not enough to solve the current problems for migrant workers.

Recently the Chinese government has given renters in 12 major cities — including Beijing, Shenzhen and Nanjing — the same
access to education and social service as home owners.

Whether the price of the property will drop in China remains uncertain.
But the new policy should help some young professionals who are not ready to buy homes for marriage.

[david44]

Ah Inner Wrongholia I remember it well

[Switch]

I’m stuck in the 1970s.

I own a watch a bicycle and a housewife.

househouse·wife
ˈhousˌwīf/
noun

• 1.
  a married woman whose main occupation is caring for her family, managing household affairs, and doing housework.
  
  
  
  
  
• 2.
  a small case for needles, thread, and other small sewing items.
  
  
  
  

·wife
ˈhousˌwīf/
noun

• 1.
  a married woman whose main occupation is caring for her family, managing household affairs, and doing housework.
  
  
  
  
  
• 2.
  a small case for needles, thread, and other small sewing items.