China Economic Net, June 13 afternoon, the real estate mouth Ren micro-interviews, 2012 China property market hot issues to answer the questions of the users of the microblogging. This time, he also subvert the part of people’s world view and cognitive. In his view, society has been widely popular vocabulary “house slaves” is a false proposition. In response to a Friends of Bo’s question, Ren said he never thought that China has bought a house, the house slaves, house slaves the word comes from the Asian financial crisis, because the house has depreciated very much. To repay the loan exceeds the value of the house, so the house slaves. But in China, bought a house in the past have made money, how can there be said that the slave can earn a lot of money.

“house slaves” the word is released by the Ministry of Education in August 2007, 171 new words in Chinese, meaning for the slaves of the house. “House slaves” refers to the urban residential mortgage loans to home buyers, to life the golden age of 20-30 years, each year a percentage of disposable income of 40-50 percent or even higher proportion of repayment of loan principal and interest, resulting in the residents’ family life long-term pressure to affect the normal consumption. Buyers affect their education expenses, medical expenses and the raising of the elderly, making the family reduced quality of life, and even feel the slavery-like suppression. “House slaves” in April 2006 as a “new word” popular. Interest rate increase in house prices rising in 2005 to 2006, the market has been unable to find the low price of real estate, causing many buyers to carry a heavy burden of loan repayment, while the central bank announced in 2004 and 2006, respectively the further exacerbating the concerns of the people on the mortgage burden further enhance. The dual concerns about high prices and high interest rates led to fears that will work for a bank like slaves, the word “house slaves” came into being, become a symbol of the real estate bubble.

(This article Source: China Economic Net) the Editor: NN081