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Should Chinese Men Buy a House?

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Should Chinese Men Buy a House?
Should Chinese Men Buy a House? Mr. Zou, who did not get married until he bought a house when he was 35 years old, sold his house last year and earned an extra profit about 200,000 RMB. In China, much more men did not get married because they did not own a house; however, housing price keeps soaring. According to National Bureau of Statistics of China, from 2001 to 2011, during the 10 years, the average selling price of commercialized buildings in China has increased 147% from 2170RMB to 5357RMB per square meter, especially in metropolitan cities like Beijing, Shanghai which increased 243% and 310% respectively. Nowadays, most youth and their parents in China are concerned about the price of apartment and hesitate to buy it; however, during the hesitation, the price has reached a high record. In my opinion, Chinese men should not only buy a house but purchase it as soon as possible because of the impact of traditional custom, fierce marriage market and the best investment strategy.
To begin with, if people especially men want to get married; they would better possess a house at first because of the traditional customs. Confucius, who was born in 2500 years ago, was a philosopher of the Spring and Autumn period of Chinese history. The philosophy of Confucius has a great, deep and persistent impact on each generation in China until now. One of his most famous proverbs is “to rightly govern the state, it is necessary first to regulate one 's own family” (Dawson, 1915) which in Chinese, means the man should process a permanent house and have a harmonious family before he has the capacity to govern the country. What’s more, another sacred philosopher Lao-Tsu seems to be the best-known Chinese philosopher to the western world, through his short treatise the Laozi or Daodejing, consisting of more than 5,000 Chinese characters, which has been the most frequently translated Chinese book (Shen, 1971). “Let them relish their food, beautify their clothing, be content



References: Cao, G. Y., Chen, G., Pang, L. H., Zheng, X. Y., & Nilsson, S. (2012). Urban growth in China: past, prospect, and its impacts. Population and Environment, 33(2-3), 137-160. Dawson, M. M. (1915). The ethics of Confucius: the sayings of the master and his disciples upon the conduct of" the superior man,". Putnam. Krainer, J. (2003). House price bubbles. Federal Reserve Bank of San Francisco Economic Letters, 6. Li, F. (2013, May 27). What do You Think a High-Income Man Faked a Property Ownership Certificate to Cheat His Parent-in-Laws?. Guangzhou Daily. National Bureau of Statistics of China. (2012). Average Selling Price of Commercialized Buildings by Use. Beijing, Hubei: Author. Retrieved from http://www.stats.gov.cn/tjsj/ndsj/2012/html/F0538e.htm National Working Committee on Children and Women under the State Council. (2012). China Releases Chinese Marriage Situation Survey Report 2011. Beijing, Hubei. Retrieved from http://www.nwccw.gov.cn/?action-viewnews-itemid-160305 Shanghai Stock Exchange Shen, V. (1971). Laozi (Lao Tzu). Philosophical Quarterly, 15, 213-235. Shuo, H. (2010, December 23). Housing and Marriage. Chinadaily. Retrieved from Yan. (2011, June 28). Pork prices continue to rise in China. Xinhua News.

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