Become a housesalve Becoming A House Slave

During National Day, we went to Hubei, Mr. Chen's hometown, and signed the contract to buy an apartment. Since we didn't have enough money to pay in full, we have to get a mortgage to from the bank. We also signed a loan contract with ICBC.  The mortgage will be paid off in  and will pay off the mortgage about 15 years. I don't know why we Chinese people have to endure so high a price of house to pay for such a place and live a so hard a life. It is pity.

What?  You are so lucky to pay it off in 15 years' time.  I have a 30 year mortgage!  This is call signing your life away!  However the difference with most countries is that even if you have the money to buy the house, we don't!!!!  This is because any interest charged is tax deductible.  So cash flow is more important.  Everyone would like to get a fix 30 years' rate.  Now it is a great time to do so.  The interest rates fell to less than 4%.  So we are going to refinance it again for another 30 years!  Hopefully before we die we can sell the house for a large profit, buy a cheaper place and retire out my life.  This is call long term investment.