Learn Chinese - Big house, or big burden?

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BIZCHINA / Biz Life

Big house, or big burden?

(China Daily)
Updated: 2007-01-19 09:39

A young man in Zhengzhou, central China'sHenanProvince is desperately
trying to sell his dream house after the New Year, unable to bear the
heavy burden of paying off a bank loan.

The man, surnamed Wang, bought a 140-square-meter forward-delivery house
in 2004 after school graduation, a local newspaper reported, paying a
200,000 yuan down-payment with help from his parents.

Now he is strapped for cash as he pays over 2,400 yuan a month for the
unfinished house and spends hundreds more in renting a place to live, but
he and his girlfriend earn only 4,000 yuan a month.

Wang hopes to buy a smaller house after he sells the big one. According
to the local government, at least 300 people in the city are in similar
straits to Wang and changed into smaller houses last year.

(For more biz stories, please visit Industry Updates)

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