Mortgage meltdown
本文作者： 21st
Amid rising real estate prices in Chinese cities in recent years, there appears to be a growing trend among young people of refusing to buy an apartment too soon after graduation. A recent survey released by the Chinese Academy of Social Sciences said that more college graduates born in the 1990s say that they are unwilling to be *saddled by a heavy *mortgage loan soon after graduation. The survey shows that about 30 percent of college graduates have a per capital living space of less than 20 square meters one year after graduation. While they are keen on improving their living standards, they’re not so eager to end up giving a big *chunk of their salaries towards paying back loans. The People’s Daily also said in an editorial late last month that it’s a “progressive” *notion for today’s young people not to want to buy their own apartments too early, because their standards and comfort in life have changed with the times. But others point out not buying real estate only reflects the wide gap between young people’s earning power and the high housing prices.
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