Comments by "Bobby Loo" (@BobbyLoo-jr8ys) on "China’s Middle Class Falls Into Poverty: Bought Homes, Lost $700,000 in 2 Years, Tears Dried Up" video.

  1. 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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  2. If family can't pay the mortgage, they lose their home. It is that simple. Cant pay, they take it away! The property is NOT yours, it is the banks, UNTIL the mortgage debt is FULLY paid! The lesson, DO NOT take out long term or HUGE mortgage, big risk=big mistake Can't afford it, RENT Let those that can fully paid it...Like me! I will put 100% down for my housing in CHina! This is what happens: high demand drove up the price = longer mortgage/higher loans.
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