Comments by "ronnel acido" (@ronnelacido1711) on "China‘s Middle Class Collapse: City Elites Now the New Poor, Owning Cars and Homes, But Penniless" video.

  1. Moral of the story: Don't buy if you can't afford it. You can't afford it if you have to borrow or take out a loan to cover it. Seasons do have rainy days so save up during the summer as ants and bees do. And never, EVER, let other people's opinions push you into making decisions that you would end up paying for later. It's your responsibility, not theirs.
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  2. The perils of getting rich quick without financial literacy: spend, spend, spend.
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  3. They were pressured to do so. Owning a house and a car is a must in China (as elsewhere) to win the nod of your future in-laws.
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  4. The Western woman would marry the guy to pay her bills and her monthly upkeep.
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  5. Chinese look at houses as investing in an asset whose value would appreciate over time that they could profit from. That's why they prefer buying into places with relatively high upfront.
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