Owning home is better choice
Updated: 2007-06-20 07:05
Yanzhao Metropolis News:
It is not realistic that all citizens own their own apartments in China. Long is right on this point. However, he has neglected the substantial differences between cultures and social systems in China and the US.
Most Chinese people would like to have a tangible asset. This aspiration is determined by the conditions in our country.
If people have homes of their own, they have a permanent address under the household registration system, they are viewed as people with property and they have some assets in case of emergency.
It is therefore natural for people to want their own assets.
When Long told us that 60 percent of Americans live in rental housing, he should have noticed such a high proportion, if true, is a result of the mature social welfare system in the US.
US citizens have access to universal social welfare benefits. They have fewer worries about their future even if they live in rental housing.
In contrast, the social welfare system in China covers a limited portion of the population and many families are stuck in poverty if a family member becomes ill.
Against this background, a house represents an asset that can shelter a family from possible risks. After all, the house is tangible and could be converted into cash when necessary.
It is, therefore, improper to dismiss people's aspiration to own their own home as an "incorrect choice".
(China Daily 06/20/2007 page10)
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