Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: RealMuLan who wrote (28573)	2/8/2003 11:59:54 PM
From: Maurice Winn	Read Replies (1) of 74559

Hi Yiwu. <This cultural thing is die hard. Chinese just do not want to borrow. Even if the Chinese who have lived in the US for the last 10-15 years, most people I know of bought their houses at 20+% down payment, and quite a few of them are now switching to 15 Years of mortgage from 30 years because of the low interest rate. > I think you might find that the next generation isn't quite the same. I have that cultural norm too. But the next generation isn't so particular about saving and then buying. Maybe in China, with umpteen hordes of little emperors, full of entitlement, the savings obsession will be less entrenched. They'll want it all and they'll want it now. That's my theory anyway. With super low interest rates, why not? Okay, maybe they won't go as nuts as the average American debtor, but a little bit nuts, with some of Jay's Chinese maths thrown in, would still mean a LOT of debt. Mqurice

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next