Comments by "Bobby Loo" (@BobbyLoo-jr8ys) on "China Observer"
channel.
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I went to China and teach for 15 yr. Im lucky, haven't got scammed. Bc I am CBC (Chinese Born Canadian), so that helps. Even with my broken Chinese, l can threaten the company, if my salary is delayed!
The best weapon, complain to the teacher (their bread and butter). Once the parents know, that teacher's wages have not been paid (delayed), i can destory their company!
ANother weapon, l add parents wechat. It is against policy, but when the boss founds out, l cite: it is for my protection. What if you (company) screw me over!
It can work, if the company do not respect you or threaten you. You immediately add parents wechat, as soon as you know something is NOT right with the company/academy.
Even a few parents is enough, as these parents know each other!
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One of the main problem is the housing price. With the high demand for wanting to own a house (need it for marriage), this push the housing price beyond reach for many. Yet, many still take HUGE loans with long term mortgage. Think about it, buy the time the home owner has pay it off, it would have double the cost of the original price. But sadly, the housing price fell, which made it worst.
So you see, if people didn't take out mortgage and there was less demand, housing price wouldn't be crazy.
THe other problem is banks, banks is a business and they know there is a demand and Chinese need money for a house. So bc of this, they lend out money. This is also true in the west.
If we get rid of mortgage and long term loans, housing would be more affortable for the middle class. But of course, the bank is a business. THe big winners are those high ranking employees, earning bonus by leading out money to people.
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Stupid ppl buying house with HUGE debt and thus driving up the price, due to demand.
Those brought in debt and have lost value, too bad.
No one forced you to buy property in China, as property in China is inflated. Imagine, a property (apt) is worth 10M rmb. With that money, one can buy a HOUSE (not an apt), with backyard, garage (for car), 3 floors, etc.
It is due to this mindset that buying a property is a must to start a family. Fair. But what is wrong with renting.
Only buy the property when he an afford to pay 70% down. Can save tons of the mortgage.
For me, I plan to pay 100% down and NOT go into debt. Already have MILLIONS for rmb saved!
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First mistake, Never take out large loan morgage for a house, it is a death trap. Just because your neighbhour has a house and car, doesnt mean, he has to. Even selling his house at a lost, he still lose. =loser. Life mistake can cost a man's life. Including family and children.
When many people take out loans to buy a home, house price will be inflated. But if few people take housing loan, price is more affordable. Now the bubble has burst. Im waiting for the housing price to decrease and NOT taking loans. Imagine how much money one can save. No interest! And no need to borrow from family/friends.
Your decision to get morgage loan, your responsiblity to pay back, just like student loans in the west. NO one forced you go get a house. If one wants to cry, go up the mountain and cry a river.
Implusing buying, ha. = loser in life?
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