2023-06-27 08:30:42
The generation in their 30s and 40s is struggling to buy a house, and the increase in housing prices is more than 1 to 1.68 times that of the financial tsunami. At the time of the financial tsunami, it only cost 10.58 million yuan to buy a house in Taipei City. In the first quarter of this year, the total purchase price has reached 20.61 million yuan. In Hsinchu City, it jumped from 5.21 million yuan to 13.96 million yuan, an increase of regarding 168%. Fang Zhongye said that the 333 principles for buying a house in the past have to be redefined as “3-year grace period, 30-year mortgage, and more than 1/3 of household income.”
Buying a house for the 30-40-year-old group is 1.68 times harder than during the financial tsunami. Schematic / via Getty Images
The 30-40-year-old generation is an important age group for rigid home purchases in China. However, since SARS, domestic housing prices have risen more than they have fallen, and housing prices have shown a sharp rise and a small recovery. If the first quarter of this year is compared with the first quarter of the financial tsunami in 2009, For generations aged 30 to 40, the biggest difference in house price growth is in Hsinchu City, where the house price has increased by regarding 168%, from the total price of 5.21 million yuan following the financial tsunami to 13.96 million yuan in the first quarter of this year. Liudu and Hsinchu generally have higher house prices 4.5 to 10 million yuan.
Zeng Jingde, the project manager of Xinyi Housing Real Estate Enterprise Research Office, said that more than 10 years ago, when housing prices had not risen sharply, it was recommended that the public adopt the 333 strategy when buying houses. The monthly mortgage burden accounted for 1/3 of household income. The 333 strategy is a 3-year grace period, a 30-year mortgage, and more than 1/3 of household income for housing loans. In particular, a 30-year mortgage can greatly reduce short-term burdens, allowing homebuyers to smoothly purchase a house in the era of tens of millions of housing prices.
Statistics show that the biggest difference in the total price of house prices is in Taipei City. The 30-40-year-old homebuying generation bought 10.58 million houses at the time of the financial tsunami. The total house purchase price in the first quarter of this year has reached 20.61 million yuan. Basically, this generation can buy houses in Taipei , Many of them have parents’ help and funding; however, the highest increase is 168% in Hsinchu City. The average total purchase price of houses at the time of the financial tsunami was 5.21 million yuan, and now it has reached 13.96 million yuan.
In the rest of the metropolitan areas, the 30- to 40-year-old generation buys houses, and the house price is generally 4.5-8.26 million more than that during the financial tsunami, and the house price is generally 90%-145% more. Observing the overall housing purchase situation of the 30-40-year-old generation in the metropolitan area, except for Kaohsiung City, the general housing prices are in the tens of millions, and the housing burden is nearly double that of the financial tsunami.
Zeng Jingde suggested that in addition to the sharp rise in housing prices, this wave of rising interest rates will further increase the monthly burden of mortgage households. He suggested that the public should review the current mortgage loan interest rates and discuss with the bank whether there is room for a reduction. , There is still no sign of interest rate cuts in the short term. If the public has a lot of idle funds and cannot find stable returns and low-risk investments, they can consider repaying some principal first to save more than 2% of interest payments.
Housing prices in major metropolitan areas compared with those during the financial tsunami.Photo/Provided by Xinyi Housing
further reading
Ye Yiru, Special Correspondent of Yahoo Finance: 22 years of experience in financial mainstream media, from the bubble of Web1.0 in 2000 to Web3.0 of the Meta universe, witnessed the history of the rise and fall of large and small business groups in Taiwan, and experienced five international financial crises. Think that finance is life, omnipresent, no matter how difficult financial management knowledge should be explained in a simple way. No matter you are young or old, you should manage money. If you don’t manage money, money will ignore you.
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