China's Legions of 'Housing Slaves'

China's Legions of 'Housing Slaves'

Sherry Sheng permitted herself one final splurge before joining China's swelling ranks of homeowners: a 4,000 yuan ($642) black fur jacket. Servicing the two mortgages on the 1.1 million yuan one-bedroom Sheng bought on the city's western outskirts will eat up about 70% of her salary as a...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Bloomberg businessweek (Online) 2013-02, p.1
Hauptverfasser: Cao, Bonnie, Dingmin, Zhang
Format: Magazinearticle
Sprache:eng
Schlagworte:
Disposable income
Home loans
Homeowners
Housing prices
Mortgages
Payments
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
container_end_page
container_issue
container_start_page 1
container_title Bloomberg businessweek (Online)
container_volume
creator Cao, Bonnie
Dingmin, Zhang
description Sherry Sheng permitted herself one final splurge before joining China's swelling ranks of homeowners: a 4,000 yuan ($642) black fur jacket. Servicing the two mortgages on the 1.1 million yuan one-bedroom Sheng bought on the city's western outskirts will eat up about 70% of her salary as a policewoman. Sheng is a fang nu, or housing slave, the popular name for a generation of middle-class Chinese who will need to work a lifetime to pay off their debts. A 1,076-square-foot apartment in one of China's most affluent cities today costs about 40 years' annual income, according to data supplied by the government and SouFun Holdings, a company that operates a popular real estate Web site.
format Magazinearticle
fullrecord <record><control><sourceid>proquest</sourceid><recordid>TN_cdi_proquest_miscellaneous_1315728917</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>2913006131</sourcerecordid><originalsourceid>FETCH-proquest_miscellaneous_13157289173</originalsourceid><addsrcrecordid>eNpjYuA0MjQz0jUzNY9gYeA0MDAw1zU3NDblYOAtLs4Ccg0sLEyNjAw5GZSdMzLzEtWLFXxS0zPz84oV8tMU1D3yS4sz89IVgnMSy1KL1XkYWNMSc4pTeaE0N4OGm2uIs4duQVF-YWlqcUl8bmZxcmpOTmJeKlBnvKGxoam5kYWlobkxCUoBf4wzSw</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>magazinearticle</recordtype><pqid>1315728917</pqid></control><display><type>magazinearticle</type><title>China's Legions of 'Housing Slaves'</title><source>EZB-FREE-00999 freely available EZB journals</source><creator>Cao, Bonnie ; Dingmin, Zhang</creator><creatorcontrib>Cao, Bonnie ; Dingmin, Zhang</creatorcontrib><description>Sherry Sheng permitted herself one final splurge before joining China's swelling ranks of homeowners: a 4,000 yuan ($642) black fur jacket. Servicing the two mortgages on the 1.1 million yuan one-bedroom Sheng bought on the city's western outskirts will eat up about 70% of her salary as a policewoman. Sheng is a fang nu, or housing slave, the popular name for a generation of middle-class Chinese who will need to work a lifetime to pay off their debts. A 1,076-square-foot apartment in one of China's most affluent cities today costs about 40 years' annual income, according to data supplied by the government and SouFun Holdings, a company that operates a popular real estate Web site.</description><identifier>ISSN: 0007-7135</identifier><identifier>EISSN: 2162-657X</identifier><identifier>CODEN: BWITEU</identifier><language>eng</language><publisher>New York: Bloomberg Finance LP</publisher><subject>Disposable income ; Home loans ; Homeowners ; Housing prices ; Mortgages ; Payments</subject><ispartof>Bloomberg businessweek (Online), 2013-02, p.1</ispartof><rights>Copyright Bloomberg Finance LP Feb 25, 2013</rights><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>776,780</link.rule.ids></links><search><creatorcontrib>Cao, Bonnie</creatorcontrib><creatorcontrib>Dingmin, Zhang</creatorcontrib><title>China's Legions of 'Housing Slaves'</title><title>Bloomberg businessweek (Online)</title><description>Sherry Sheng permitted herself one final splurge before joining China's swelling ranks of homeowners: a 4,000 yuan ($642) black fur jacket. Servicing the two mortgages on the 1.1 million yuan one-bedroom Sheng bought on the city's western outskirts will eat up about 70% of her salary as a policewoman. Sheng is a fang nu, or housing slave, the popular name for a generation of middle-class Chinese who will need to work a lifetime to pay off their debts. A 1,076-square-foot apartment in one of China's most affluent cities today costs about 40 years' annual income, according to data supplied by the government and SouFun Holdings, a company that operates a popular real estate Web site.</description><subject>Disposable income</subject><subject>Home loans</subject><subject>Homeowners</subject><subject>Housing prices</subject><subject>Mortgages</subject><subject>Payments</subject><issn>0007-7135</issn><issn>2162-657X</issn><fulltext>true</fulltext><rsrctype>magazinearticle</rsrctype><creationdate>2013</creationdate><recordtype>magazinearticle</recordtype><sourceid/><recordid>eNpjYuA0MjQz0jUzNY9gYeA0MDAw1zU3NDblYOAtLs4Ccg0sLEyNjAw5GZSdMzLzEtWLFXxS0zPz84oV8tMU1D3yS4sz89IVgnMSy1KL1XkYWNMSc4pTeaE0N4OGm2uIs4duQVF-YWlqcUl8bmZxcmpOTmJeKlBnvKGxoam5kYWlobkxCUoBf4wzSw</recordid><startdate>20130225</startdate><enddate>20130225</enddate><creator>Cao, Bonnie</creator><creator>Dingmin, Zhang</creator><general>Bloomberg Finance LP</general><scope/></search><sort><creationdate>20130225</creationdate><title>China's Legions of 'Housing Slaves'</title><author>Cao, Bonnie ; Dingmin, Zhang</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-proquest_miscellaneous_13157289173</frbrgroupid><rsrctype>magazinearticle</rsrctype><prefilter>magazinearticle</prefilter><language>eng</language><creationdate>2013</creationdate><topic>Disposable income</topic><topic>Home loans</topic><topic>Homeowners</topic><topic>Housing prices</topic><topic>Mortgages</topic><topic>Payments</topic><toplevel>online_resources</toplevel><creatorcontrib>Cao, Bonnie</creatorcontrib><creatorcontrib>Dingmin, Zhang</creatorcontrib><jtitle>Bloomberg businessweek (Online)</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Cao, Bonnie</au><au>Dingmin, Zhang</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>China's Legions of 'Housing Slaves'</atitle><jtitle>Bloomberg businessweek (Online)</jtitle><date>2013-02-25</date><risdate>2013</risdate><spage>1</spage><pages>1-</pages><issn>0007-7135</issn><eissn>2162-657X</eissn><coden>BWITEU</coden><abstract>Sherry Sheng permitted herself one final splurge before joining China's swelling ranks of homeowners: a 4,000 yuan ($642) black fur jacket. Servicing the two mortgages on the 1.1 million yuan one-bedroom Sheng bought on the city's western outskirts will eat up about 70% of her salary as a policewoman. Sheng is a fang nu, or housing slave, the popular name for a generation of middle-class Chinese who will need to work a lifetime to pay off their debts. A 1,076-square-foot apartment in one of China's most affluent cities today costs about 40 years' annual income, according to data supplied by the government and SouFun Holdings, a company that operates a popular real estate Web site.</abstract><cop>New York</cop><pub>Bloomberg Finance LP</pub></addata></record>
fulltext fulltext
identifier ISSN: 0007-7135
ispartof Bloomberg businessweek (Online), 2013-02, p.1
issn 0007-7135
2162-657X
language eng
recordid cdi_proquest_miscellaneous_1315728917
source EZB-FREE-00999 freely available EZB journals
subjects Disposable income
Home loans
Homeowners
Housing prices
Mortgages
Payments
title China's Legions of 'Housing Slaves'
url https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-28T20%3A32%3A24IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=China's%20Legions%20of%20'Housing%20Slaves'&rft.jtitle=Bloomberg%20businessweek%20(Online)&rft.au=Cao,%20Bonnie&rft.date=2013-02-25&rft.spage=1&rft.pages=1-&rft.issn=0007-7135&rft.eissn=2162-657X&rft.coden=BWITEU&rft_id=info:doi/&rft_dat=%3Cproquest%3E2913006131%3C/proquest%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=1315728917&rft_id=info:pmid/&rfr_iscdi=true