Umm not sure if you have been to China or actually know people from there, but no, public transportation isn’t good everywhere (especially in rural regions), and housing absolutely isn’t affordable, typically you need an entire families worth of income that goes to the son to afford a home, and on top of that, when you buy a home in China, you are given 70 year lease on the land, so not sure how many Americans would want that sort of thing. Great thinking of how things are far worse in other countries though.
Hard to believe it can get worse than somewhere like Arlington, TX (or any of the many other semi suburban places in America with NO public transit (as in not a single public bus or greyhound-type a day). I feel like 70 year lease would help stop the rich from hoarding generational wealth and giving it to their kids, allowing everyone a chance at getting a house when the parents die, though not sure how well it works in practice.
I think you are forgetting at least in the US, that home ownership is the first and best way for people to ‘move into the middle class’. I get getting rid of homes as an investment, but the fallout would finally stomp out the middle class and change it to a renting class and those who can afford to cycle and then rent property.
housing absolutely isn’t affordable typically you need an entire families worth of income that goes to the son to afford a home, and on top of that, when you buy a home in China, you are given 70 year lease on the land, so not sure how many Americans would want that sort of thing.
Weird how despite all that, the home ownership rate in China is 96%
What part of any of that am I supposed to be scandalized by, exactly? Because I read the whole article and I didn’t see a single reason I shouldn’t be touting the 96% home ownership rate.
Umm not sure if you have been to China or actually know people from there, but no, public transportation isn’t good everywhere (especially in rural regions), and housing absolutely isn’t affordable, typically you need an entire families worth of income that goes to the son to afford a home, and on top of that, when you buy a home in China, you are given 70 year lease on the land, so not sure how many Americans would want that sort of thing. Great thinking of how things are far worse in other countries though.
Hard to believe it can get worse than somewhere like Arlington, TX (or any of the many other semi suburban places in America with NO public transit (as in not a single public bus or greyhound-type a day). I feel like 70 year lease would help stop the rich from hoarding generational wealth and giving it to their kids, allowing everyone a chance at getting a house when the parents die, though not sure how well it works in practice.
I think you are forgetting at least in the US, that home ownership is the first and best way for people to ‘move into the middle class’. I get getting rid of homes as an investment, but the fallout would finally stomp out the middle class and change it to a renting class and those who can afford to cycle and then rent property.
Weird how despite all that, the home ownership rate in China is 96%
Maybe read up a little more on that before touting that 90% number. Not exactly sure you’ll enjoy those results: https://www.forbes.com/sites/wadeshepard/2016/03/30/how-people-in-china-afford-their-outrageously-expensive-homes/
What part of any of that am I supposed to be scandalized by, exactly? Because I read the whole article and I didn’t see a single reason I shouldn’t be touting the 96% home ownership rate.