Saturday, April 16, 2011

Money minded Chinese woman and housing affordability in China

New York Times recently published an article on how even the suburban houses are not affordable for college-educated Chinese white collar workers. Here is the news article:
"In the realm of eligible bachelors, Wang Lin has a lot to recommend him. A 28-year-old college-educated insurance salesman, Mr. Wang has a flawless set of white teeth, a tolerable karaoke voice and a three-year-old Nissan with furry blue seat covers. 
“My friends tell me I’m quite handsome,” he said in confident English one recent evening, fingering his car keys as if they were a talisman. 
But by the exacting standards of single Chinese women, it seems, Mr. Wang lacks that bankable attribute known as real property. Given that even a cramped, two-bedroom apartment on the dusty fringe of the capital sells for about $150,000, Mr. Wang’s $900-a-month salary means he may forever be condemned to the ranks of the renting."
Source : For Many Chinese Men, No Deed Means No Dates 
First of all, these numbers are really incredible! A house is considered affordable if it is priced at most 4 times the net disposable income of an individual. Now this Chinese guy earns around 11,000 USD per year and a 2 bedroom flat on the fringe of the city he lives is 150,000 USD! That makes 13.8 times and is 3 times the housing affordability rate! A house like this should go either for around 44,000 USD or he should earn around 3000 USD per month to make it affordable for him. And 3,000 USD per month is an exceptionally high salary in China.

No money, no honey? These Chinese women think so.
Viral video "No Car No House" with English subs

In China, 1 child policy + traditional obsession of having a son creates a gender imbalance which makes woman powerful in choosing a husband. And it is obviously spoiling many to a point that any clever Chinese man should avoid them even as a girlfriend:
Gao Yanan, a 27-year-old accountant with a fondness for Ray-Bans and Zara pantsuits, said the matter was not up for debate. “It’s the guy’s responsibility to tell a girl right away whether he owns an apartment,” she said. “It gives her a chance not to fall in love.”
Source : For Many Chinese Men, No Deed Means No Dates 
Man, it would be great that all these money obsessed chicks are easy to spot like this woman, then it would be very easy to avoid them! Marriage with a woman like this is a big big under achievement for a university educated Chinese man! Marriage in 21st century is building a life together, and woman and man need to work together to build up their life, assets and the future of their kids. A woman like this is just a wealth sucker, can never be satisfied and should be avoided at all cost, even if you can afford her. It is way better to stay single than to date or worse marry to this kind of woman and the money you would invest to her endless needs(!) would bring you more fun and sex if you avoid her in the first place! But love? Come on man she would not love you anyway, it is the money she loves.

It may really be hard to avoid these money minded woman as a partner, it worths it:
Liu Binbin, 30, an editor at a publishing house in Beijing, said he often arrived at first dates by bus, even though he owned a car. “If they ask me questions like ‘Do you live with your parents?’ I know what they’re after,” he said. 
Mr. Liu said he went on 20 unfulfilling blind dates until finding a suitable girlfriend last year. He said he knew she was the one after passing the three-month mark. 
“The whole time she thought I didn’t own an apartment and she still wanted me,” he said. “Someone like that is rare.” 
Source : For Many Chinese Men, No Deed Means No Dates  

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