Saturday, July 31, 2010
Saturday, July 24, 2010
Housing
I was invited to lunch with two friends who, like me, came from China for graduate school at UW. One of them is working on her dissertation on housing in China. Inevitably, I asked her about her dissertation, and we talked about how ridiculously expensive the housing in Beijing has become.
Nine years ago when I just graduated from the university, the housing market in China started to become active. People started to own their residential units and purchase condos. Shanghai had the most active housing market in China at that time. I always heard how rapid the housing price in Shanghai increased.
The skyrocketing housing price and struggles of many people in China facing to buy a house made a TV series "Wo Ju", meaning a nutshell of a house, very popular in China last year. Wo Ju tells the story of a white-collar couple struggling to buy a house in Shanghai. They graduated from renowned Chinese universities and have a 2-year-old child. Yet as they could not afford a house in the city, they end up borrowing money from their relatives. Protagonist Hai Ping's younger sister, Hai Zao, rents an apartment with her boyfriend Xiao Bei, in an attempt to save money for their future house and wedding. Hai Zao then meets Song Siming, a 42-year-old government official, and has an affair with him. Song gives Hai Zao money and other benefits to help her sister's family out. Song is later found guilty of taking bribes and dies in a car accident. Hai Zao and Song's child was born premature and died.
I don't always understand why the housing price in Beijing could start practically nothing and caught up with and surpass Seattle in less than 15 years. Economists like to explain as demand surpassing supply. I can't help wonder why there are so much demand. Beijing is the capital. For people who are not familiar with China, China is a country with a very long history of central control. In other words, China is a country with a very strict hierarchical system and politics is closely related with economy. The center of the politics is also the center of economy. If the housing value are determined by location, location, and location, Beijing, no doubt, is the prime city to live. This justifies why housing is more expensive in Beijing than other cities, but it doesn't explain housing is unaffordable for the majority of the residents in Beijing. I don't define affordable as 30% of a household's gross income. Unaffordable here means even a household uses all their income or acquires all kinds of loans and mortgages, they still can't buy a tiny condo.
My friend who is working on housing in China stated a theory. A very small percentage of Chinese people have got rich. They're looking for high return investments. However, Chinese government control all high profitable industries, and no private investment is allowed. Housing market is the only market that the government doesn't forbid private investment. Thus, money is flooring in, which escalates housing price. That's why so many rich Chinese purchase housing in Beijing even though they don't live there at all. That's why housing price in Beijing is unusually high that owning housing is a unrealistic dream for ordinary Beijing residents.
Nine years ago when I just graduated from the university, the housing market in China started to become active. People started to own their residential units and purchase condos. Shanghai had the most active housing market in China at that time. I always heard how rapid the housing price in Shanghai increased.
The skyrocketing housing price and struggles of many people in China facing to buy a house made a TV series "Wo Ju", meaning a nutshell of a house, very popular in China last year. Wo Ju tells the story of a white-collar couple struggling to buy a house in Shanghai. They graduated from renowned Chinese universities and have a 2-year-old child. Yet as they could not afford a house in the city, they end up borrowing money from their relatives. Protagonist Hai Ping's younger sister, Hai Zao, rents an apartment with her boyfriend Xiao Bei, in an attempt to save money for their future house and wedding. Hai Zao then meets Song Siming, a 42-year-old government official, and has an affair with him. Song gives Hai Zao money and other benefits to help her sister's family out. Song is later found guilty of taking bribes and dies in a car accident. Hai Zao and Song's child was born premature and died.
I don't always understand why the housing price in Beijing could start practically nothing and caught up with and surpass Seattle in less than 15 years. Economists like to explain as demand surpassing supply. I can't help wonder why there are so much demand. Beijing is the capital. For people who are not familiar with China, China is a country with a very long history of central control. In other words, China is a country with a very strict hierarchical system and politics is closely related with economy. The center of the politics is also the center of economy. If the housing value are determined by location, location, and location, Beijing, no doubt, is the prime city to live. This justifies why housing is more expensive in Beijing than other cities, but it doesn't explain housing is unaffordable for the majority of the residents in Beijing. I don't define affordable as 30% of a household's gross income. Unaffordable here means even a household uses all their income or acquires all kinds of loans and mortgages, they still can't buy a tiny condo.
My friend who is working on housing in China stated a theory. A very small percentage of Chinese people have got rich. They're looking for high return investments. However, Chinese government control all high profitable industries, and no private investment is allowed. Housing market is the only market that the government doesn't forbid private investment. Thus, money is flooring in, which escalates housing price. That's why so many rich Chinese purchase housing in Beijing even though they don't live there at all. That's why housing price in Beijing is unusually high that owning housing is a unrealistic dream for ordinary Beijing residents.
Monday, July 19, 2010
Monday, July 12, 2010
Food, Eating
Growing up in China, I was not particularly introduced to a religion or encouraged to take a religion. Some of my friends teased me that I was a communist. Well, I don't have a religion, but I consider myself as a socialist or an unbeliever of capitalist more than a communist. However, I take what I eat and what restaurants I go seriously and adventurously.
Even though sandwich is simple and fast, I don't like to have it for lunch. I don't like American hamburgers or pizzas. Not because they look cheap or unsophisticated, it is because I don't find them tasty. Ordinary meats such as chicken and pork from American supermarkets are tasteless. I have to buy organic kosher chicken and organic pork (I wish I could find organic kosher pork.^_^.). I didn't know how to cook until 22 when I moved to the states. I made international phone calls to my mother to ask how to cook. However, at the second year when I started cooking, I invited ten people for dinner and cooked all the dishes.
One thing I enjoy most while traveling is to try local cuisine. I had an unforgettable time at a local restaurant in Seoul with a friend who introduced me to eat live octopus, a famous Korean dish. I still remember the moving octopus in the plane when the waitress bringing it out from the kitchen. I also love telling people funny stories about food. I have told many of friends the experience my parents and I had on eating larvas. Exploring different restaurants is one of my favor activities.
Not surprisingly I enjoy "No Reservation", a travel TV show on food, and like the TV show host, Anthony Bourdain. I even bought one of his book - Kitchen Confidential. I'm reading it every morning during breakfast. I'm having a good time. I found Bourdain's comments on vegetarians amusing.
Even though sandwich is simple and fast, I don't like to have it for lunch. I don't like American hamburgers or pizzas. Not because they look cheap or unsophisticated, it is because I don't find them tasty. Ordinary meats such as chicken and pork from American supermarkets are tasteless. I have to buy organic kosher chicken and organic pork (I wish I could find organic kosher pork.^_^.). I didn't know how to cook until 22 when I moved to the states. I made international phone calls to my mother to ask how to cook. However, at the second year when I started cooking, I invited ten people for dinner and cooked all the dishes.
One thing I enjoy most while traveling is to try local cuisine. I had an unforgettable time at a local restaurant in Seoul with a friend who introduced me to eat live octopus, a famous Korean dish. I still remember the moving octopus in the plane when the waitress bringing it out from the kitchen. I also love telling people funny stories about food. I have told many of friends the experience my parents and I had on eating larvas. Exploring different restaurants is one of my favor activities.
Not surprisingly I enjoy "No Reservation", a travel TV show on food, and like the TV show host, Anthony Bourdain. I even bought one of his book - Kitchen Confidential. I'm reading it every morning during breakfast. I'm having a good time. I found Bourdain's comments on vegetarians amusing.
Vegetarians are the enemy of everything good and decent in the human spirit, an affront to all I stand for, the pure enjoyment of food.
.... Amoebas, however, are transferred most easily through the handling of raw, uncooked vegetables, particularly during the washing of salad greens and leafy produces. So think about that next time you want to exchange deep tongue kisses with a vegetarian.
Sunday, July 04, 2010
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