In some countries, owning a house rather than renting a house is very important for people. Why might this be the case? Do you think it’s a positive or negative situation?

“In modern society, people in some countries like China and Korea are facing a great burden to buy houses.To ease the severe social stress, house renting starts to be recommended and gets policy support. However, due to the traditional perspective, house merchandising still constitutes the largest proportion of people’s preference, renting a house for the majority is merely a temporary choice.”

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Nowadays, housing accommodation has become a severe social problem in many countries like China and Korea. When we try to analyze the reason behind it, we usually ascribe the gap between the high prices of all kinds of accommodations and the low average income. However even under such a great pressure, the preference toward owning a house rather than renting one still constitutes the view held by the majority.

Why did this phenomenon come into existence? And what are the contributing factors?

To answer these two questions, let me take China as an example. For a multitude of Chinese, there is a deep-seated favorability toward land ownership. And this kind of notion makes up the most important reason for the phenomenon. In ancient time, the direct subject of it was farm land because it guaranteed the fundamental process of agriculture and offered the basic necessities for living. However, now the new version of this perspective veers toward houses, inasmuch as people’s lives are not merely contingent on the hectares of land and its harvest, and the real value of our salaries is under the menace of inflation. Chinese preference for house ownership today perfectly exemplifies the inherent concern of living. It reflects Chinese people’s utilitarian mindset—for them, regardless of the circumstances, it’s always safer to have a place to protect from the storm.

In my opinion, it’s a negative situation, for it has inflicted repercussions on the whole of society. The social environment in oriental countries is fatigued under the pressure. As a consequence, the willingness of pregnancy and the suicide rate will not follow a trend toward the path that assists sustainable development.

Nowadays, housing has become a severe social problem in many countries like China. When we try to analyze the reasons behind it, we usually ascribe the gap of the price hike in real estate and low average income.

Despite the enormous discrepancy and consequent pressure, the preference toward owning property still constitutes the largest proportion of people’s choice. One preeminent factor for it is a deep-seated traditional perspective toward land ownership. Let me take China as an instance. In ancient times, Chinese farmers considered farmland to be a necessity because it was the basics of agriculture. After thousands of generations passed it down, this notion has become an inherent concern. In the modern-day, while people’s lives are not contingent on agriculture and the hectares of land they harvested, the new version of this perspective veers toward estate, since the circumstance where inflation is a threat to the value of one’s possession forces the people to find another warrant of living.

In my opinion, it’s a negative situation, for it has inflicted repercussions on the whole society. The social environment in oriental countries is fatigued. Consequently, on the one hand, the willingness of people toward pregnancy will drop eventually. On the other hand, the suicide rate will probably go upward. Both of them will be detrimental to sustainable development.

Nowadays, housing has become a severe social problem in many countries including China. When we try to analyze the reasons behind this problem, we usually blame the gap between the price increase in real estate and stagnant average incomes.

Despite this enormous discrepancy and consequent pressure, most citizens when polled say they would prefer to own a home. One preeminent factor for this preference is a deep-seated traditional perspective toward land ownership. For example, in ancient times, Chinese farmers considered farmland to be a necessity because it was the foundation of agriculture. After thousands of generations passed it down, this notion has become ingrained in Chinese culture. While people’s lives are no longer contingent on agriculture and the hectares of land they can harvest, the new version of this perspective veers toward real estate since inflation is a threat to the value of one’s assets and future.

In my opinion, this is a negative situation, because it has inflicted repercussions on the whole of society. The social environment in oriental countries is fatigued. Consequently, on the one hand, the willingness of people to have children will drop eventually. On the other hand, the suicide rate will probably go upward. Both will be detrimental to sustainable development.