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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (13938)10/24/2004 9:41:18 PM
From: BubbaFred  Read Replies (1) of 116555
 
That New Yorker I met in Shanghai told me that mortgage loans in China is typically 20 years (there is no 30 year loan there) and at floating rate, i.e. ARM (NO FIXED RATE like in US). The 30% down is correct for new houses (apartments). Foreigners can buy and own properties there, but many banks require even higher percentage of down payment in 35% to 50% range.
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