Comments by "Bobby Loo" (@BobbyLoo-jr8ys) on "Chinese experts criticize ordinary people for not buying houses!Maliciously refraining from loans." video.

Bribe price isn't showing respect to the parents. If one wants to show respect to the daughter's parents, there are other ways, like pour tea. Bribe price is "buying" a wife. Chinese men can show respect by taking care of their daughter. Show daughter respect and love is like showing her parents love and respect. Furthemore, a man buying a house shows respect. It shows that he has the financial means to raise a family with the daughter. So, l don't agree. It is buying a wife. If the daughter's parents say, "I spend money on her education." Man: I didn't ask her to have a high education. Her education won't be useful when she becomes a mother and taking care of the household. Her primary job are: raising children, keep the house in order, educating the children, cook and clean, help with the elderly. Man's job: brings home the bacon, responsible for bills, child's education, etc.
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Housing price sky rocker because it was quite easy to get mortgage as bank can earn money from homeowner. Because of easy borrowing, housing price went up. And many CHinese people believe the housing price will only go up. They never heard of the housing bubble. Imagine 20-30 yr mortgage, you become a slave to the bank. By the time the family paid off the mortgage, the total price was 2-3x the original cost of the home. Was it worth it? A better strategy is to save. For example, say a housing in a 1st tier cost 5 Million rmb. You save 4 million. That means, only mortage 1 million. That is my plan; to pay it off in 3 yrs. Long term mortgage is a death trap. The winners are ALways the bank. Even if you default, the bank will ALWays find a way to get their money back. ALways.
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