Reported about 1 year ago
Ning Yuchen, 5:39 AM, July 5, 2024 - With the introduction of the New Youth Housing Scheme, many young people without their own homes are eager to buy houses, leading to discussions on buyers' loan capabilities. A government contract worker earning a monthly salary of around 35,000 yuan asked if he could use the scheme to loan 80% to buy a 17 million house, causing a buzz online. Experts expressed disbelief, stating that the monthly repayment would be about 52,000 yuan, which could only be afforded with additional assistance like a guarantor. Netizens criticized the idea, questioning the affordability with such a salary and warning of potential financial difficulties. Some suggested increasing personal contribution or finding alternative properties.
Source: YAHOO