thinking change

Most young couples would have purchased an apartment already if they
were to get married. But with the continuing inflated residential
pricing, this "buy" thinking is beginning to disappeared with the
thinking of "renting".

It is NOT socially acceptable to have the daughter marrying someone
that has not purchased an apartment. But with inflated pricing and
the "driving down" of monthly wage by greedy local and foreign
companies, young couples are getting shafted. On average if both
work, monthly income is about RMB 10,000. Then you have to eat and
daily expenses. That does not give you much savings in this highly
inflated city of Shanghai. In six years maybe a net savings of about
RMB 150,000.00. If a couple's family background is poor, they can
forget about getting family assistance. A very cheap apartment is
about RMB 1.0 million. And with the bank's mortgage regulation
mandated by the Central gov't or because you don't know so and so, you
need to put down 40% of the value. So.... There is no way.

Many are thinking of renting and when they sign with the landlord,
they sign for a 3-year term rather than 1 year to drive down the
monthly rent.