VIP Class Notes (Tibo) [S]

It is very weird, in Shanghai you might have prerequisite about buying a house which means it is very complicate. You have to pay the social insurance for at least 5 years. You must work in Shanghai and pay the social insurance for at least 5 years and if you didnt have Shanghai hukou and you didnt get married even you pay the social insurance you can’t have the right to buy a house.
But a foreigner if you are foreigner you pay the social insurance or tax for about 1 or 3 years you can buy a house or apartment no matter you get married or not so Shanghai is a very weird city it treats foreigners better than Chinese people coming from other regions . it is not fair.

I got very angry about this regulation many years ago because I want to buy a house. you know in Shanghai rent a house is not very convenient because the apartment owner always ask you to move a place because they want to sell the house or increase the rent something like that and the first 5 years I came in SH I moved once per year. It is very annoying.

Because house for Chinese people is investment the value for investment is much more than the meaning for living.
In the economy there is some special words for this

if she or he has more than 1 apartment they should pay the tax but only once. It depends on the space of the house or apartment. There is some detailed regulation on every city’s government. The second reason is Chinese people always have the concept to buy a house. For a long time Chinese people living in a more agriculture way of life they need have a stable living place to make them feel safety the third reason is everyone in china had the expectation for the increasing price for house. This gives people more reasons to buy a house.
That is a strategy like HK. Actually the place to build an apartment or house is enough but in china the ownership for the land is government so they have the right to buy or sell the right to use so they have a strategy. They control the amount of land every year that makes the land valuable property in the housing market that is why the government can control the price of the apartment or house.
many cities major GDP consist from the income of selling land.
It is not a healthy economy.

it have a long distance between developing and developed.
Many years ago because this Hukou issue I got very angry but finally I got the Shanghai Hukou it feels weird . I don’t want to use this privilege but I have to do this.

The major reason is I want to take my parents come to Shanghai one day and if I don’t have the hukou I don’t have the right to buy an apartment so my parents will come with me so I have to prepare a place to let them live in.

It is very weird, in Shanghai you might have prerequisite for buying a house which means it is very complicated. You must have paid the social insurance for at least 5 years. You must work in Shanghai and if you don‘t  have Shanghai hukou and you aren’t married even if you pay the social insurance you don’t  have the right / you are not allowed to buy a house.
But for a foreigner  if you pay the social insurance or tax for about 1 or 3 years you can buy a house or apartment no matter if you are married or not so Shanghai is a very weird city it treats foreigners better than Chinese people coming from other regions . it is not fair.

I got very angry about this regulation many years ago because I wanted to buy a house/ I had set my mind on buying a house.
You know in Shanghai renting a house is not very convenient because the landlord always asks you to move out because they want to sell the house or increase the rent something like that and in the first 5 years I came to SH I moved once per year. It was very annoying.

Because a house for Chinese people is considered as an investment the value for investment higher than the value of using it for living in it.
In economy there is some specific term for this

If one has more than 1 apartment one should pay a tax but only once. It depends on the space of the house or apartment. There are some detailed regulations which changes depending on every city’s government.
The second reason is Chinese people love buying houses / consider that they must buy a house in their life. believe that buying a house is a necessity.

.For a long time Chinese people have lived a simple life / farmer’s way of life.  People have competed for control over resources since the beginning of time and they feel they need to own a house to be safe.

The third reason is that everyone in china somehow expect the price of houses to increase.  This gives people more reasons to buy a house.
That is a strategy like in HK.
Actually we have enough land to build more apartments or houses but the government owns the land and wants to keep the price high so they only sell a few pieces of land every year.
For many cities houses represent a substantial part of their income.
It is not a healthy economy.

the difference between a developing and developed city is still very big.
Many years ago because of this Hukou issue I got very angry but finally I got the Shanghai Hukou and it felt weird . I didnt want to use this privilege but I had to do this / I didn’t want to be part of / to perpetuate this system but there were no other ways.

The major reason is that I wanted to bring my parents to Shanghai one day and if I don’t have a hukou / without a hukou I don’t have the right to buy an apartment so my parents wouldn’t be able to come with me If I don’t  prepare a place for them to live in.

Vocabulary

digital nomad : Person working on the internet and usually traveling everywhere.
Tom is a digital nomad he spends the summer in Shanghai and the winter in Thailand.

Nomad : person always moving
Tom lives as a nomad.

to pack: to prepare for a trip / for moving
I need to pack before I take the flight tomorrow.