This is an issue that has come uo in both my Issues in Contemporary Chinese Society class and in my China's Macroeconomic Impact class. In China, real estate, especially in the big cities like Shanghai, is almost objectivly the best investment you can make; Chinese real estate has massave rates of return, is easy to get involved in, and is far more stable than the Chinese stock market. The only problem is that each household in China can only have two morgages. The question then becomes, how does a family invest even more in Shanghai real estate? Become two seperate households, brining your total number of morgages to four. Now, how does a couple become two households? Simple, get a devorce, because under Chinese law a household is ether one married couple or a single unmaried individual. What some married couples do is get a devorce, continue to live as a couple in all but law, and invest massave amounts of money in real estate. Professor Wei of my Issues in Contemporary Chinese Society brought up that the mood in the devorce offices was very happy, even though two or three generations of a family might all be getting a devorce together, because everyone knew they stood a chance of making a lot of money. Now, once you made your money in Shanghai real estate what do you do? Get remarried to the person you just devorced and enjoy your new found wealth.
1 Comment
Dad
10/5/2016 11:21:35 pm
There is always a loophole. I guess the thing to do is get weatlhy enough to buy property without a mortgage
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AuthorI am a junior at Juniata College spending a year studying abroad at East China Normal University. Please feel free to join my on my journey to China and beyond. Archives
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