The "tide of debt" is menacing, and ten years later, who will live more comfortably with and without a house
As we all know, Chinese have always been known for their love of saving money, and their savings were once as high as 50%, becoming a globally recognized saving country. In recent years, however, our country's savings rate has fallen below 44 percent, while the debt ratio has been rising. As of the first half of 2023, the total debt of Chinese residents has exceeded 200 trillion yuan, and the per capita debt has reached more than 14 trillion yuan.
The main reason for the soaring debt ratio of Chinese residents is that domestic housing prices are rising steadily, and most families have to borrow from banks in order to buy houses. Relevant data show that the total amount of housing loans for Chinese residents has approached 39 trillion. It is clear that China has gradually evolved from a "country with abundant savings" to a "big country with debts".
In the face of the upcoming "debt tide", some netizens proposed that in ten years, who will live more comfortably between those who own property and those who do not?In this regard, many residents said that people who own their own property will definitely live more comfortably than those who do not have a property, after all, those who own a property can at least enjoy a stable home. And people who don't have a property have nothing and will definitely feel uncomfortable.
However, there are also those who disagree: in foreign countries, nearly half of families choose to rent, while more than half choose to buy a home. But it is not obvious that there is much difference between a life with a house and a life without a house!In fact, if you buy a house in an area with high housing prices in the past, after 10 years, those who own a house may not be more comfortable than those who do not have a house.
For 10 years from now, who will be more comfortable with those who have a house or those who don't?Let's analyze it from three aspects: First, different periods of housing prices can lead to different results. If you buy a house at the beginning of this century, in 10 years' time, the difference between those who own a house and those who don't will be very obvious.
For those who own a house, the value of the home in their hands has been soaring, and those who do not have a house, the more they do not enter the market, the more difficult it is to bear the burden of buying a home. Clearly, people who own a home are more comfortable than those who don't. However, if you entered the market from 2018 to 2021, an all-time high, and are now facing the price of the house, then the owner of the home will naturally regret it, as if it has become an unfortunate buyer.
Second, those who bought a property during the property boom in previous years now face a considerable repayment burden. The main reason is that after three years of the impact of the epidemic, many people's income has decreased or they have lost their jobs, so for them, the difficulty of repaying the mortgage is too great. Coupled with the rising property fees, maintenance and other expenses every year, they feel as if they are unable to support it.
For people who have never bought a house, they choose to rent a house, and their life is relatively easy, without burden, and they do not need to worry about the fluctuation of housing prices in the future, and their lives are very leisurely. Obviously, compared to the people who bought houses in previous years, life is definitely not as good as those who do not have the burden of mortgages.
Third, those who have already taken out a loan to buy a house are no longer very flexible when choosing a house. On the other hand, those who do not currently have their own house have a bright future. For those who decide to buy a home at a time when prices are high, they may face a series of problems such as declining house prices and increased pressure to hold a property. Those who have not yet entered the market, as long as they insist on renting and slowly wait for the soaring housing prices to gradually return to "residential properties", will have more opportunities to choose.
When the housing price bubble is squeezed out, you can consider starting. In this way, people who do not own a house will not only have a house, but the cost of buying a house will be greatly reduced. As a result, those who bought a house a few years ago may not be as comfortable as those who don't have a home now in the next decade.
For more than 10 years, the indebtedness of people in our country has been rising due to the fact that domestic housing prices have been rising. Therefore, some people ask, in another 10 years, who will live more comfortably with people who have a house or those who don't have a house?
In fact, depending on when and where you buy a house, if the house price is just starting to start, then the person who buys the house will definitely feel better than the person who does not have a house. However, if you bought a property at the peak of house prices in previous years, it is not as comfortable as someone who does not own a house now. After all, people who don't have a house don't have to bear the heavy mortgage pressure, and they also have the opportunity to pick up the leaks in the future when the house price is the best, get cheap and high-quality housing, and the cost of buying a house will be greatly reduced.