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Difference between revisions of "Mortgage slave"

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房奴 (fáng nú): mortgage slave
 
房奴 (fáng nú): mortgage slave
  
A mortgage slave is someone who is a slave to their home mortgage (pays more than 40% of their disposable income on their home mortgage).
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A mortgage slave is someone who is a slave to their home mortgage (spends more than 40% of his or her disposable income on a home mortgage). People may become mortgage slaves by purchasing a house with a very low down payment and spending twenty to thirty of their golden years working like slaves to afford very high monthly mortgage payments.  
  
“房奴”意思为房屋的奴隶。“房奴”是指城镇居民抵押贷款购房,在生命黄金时期中的 20到30年,每年用占可支配收入的40%至50%甚至更高的比例偿还贷款本息,从而造成居民家庭生活的长期压力,影响正常消费。购房影响到自己教育支出、医药费支出和抚养老人等,使得家庭生活质量下降,甚至让人感到奴役般的压抑。
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The word “mortgage slave” was [http://baike.baidu.com/view/41339.htm included in a list of new Chinese words] by the Ministry of Education in 2007, demonstrating the extent to which high property prices have become a source of pressure and anxiety for China's lower- and middle-class citizens.
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In addition to “mortgage slaves,” there are also [http://money.business.sohu.com/20061012/n245739215_1.shtml card slaves], [http://baike.baidu.com/view/1001625.htm car slaves], and [http://money.business.sohu.com/20061012/n245739215_3.shtml certificate slaves]. These newly coined words reflect an increasing dependence on credit and loans in the pursuit of property, a lifestyle, and education.
  
 
[[File:mortgage slave.jpg|500px|thumb|center]]
 
[[File:mortgage slave.jpg|500px|thumb|center]]
  
 
[[Category: Grass-Mud Horse Lexicon]]
 
[[Category: Grass-Mud Horse Lexicon]]

Revision as of 17:31, 29 April 2013

房奴 (fáng nú): mortgage slave

A mortgage slave is someone who is a slave to their home mortgage (spends more than 40% of his or her disposable income on a home mortgage). People may become mortgage slaves by purchasing a house with a very low down payment and spending twenty to thirty of their golden years working like slaves to afford very high monthly mortgage payments.

The word “mortgage slave” was included in a list of new Chinese words by the Ministry of Education in 2007, demonstrating the extent to which high property prices have become a source of pressure and anxiety for China's lower- and middle-class citizens.

In addition to “mortgage slaves,” there are also card slaves, car slaves, and certificate slaves. These newly coined words reflect an increasing dependence on credit and loans in the pursuit of property, a lifestyle, and education.

Mortgage slave.jpg