Financinghomepurchaseforfirst-timebuyersinGuangzhou.pptVIP

Financing home purchase for first-time buyers in Guangzhou and Zhuhai: a tale of two Chinese cities Peter Li Faculty of Architecture, Design and Planning University of Sydney December 2007 Background Two men meet in Heaven, one from China, one from America. The Chinese man says, “Yesterday, I finally accumulated enough money to buy a house, and the American says, “Yesterday, I finally paid off the mortgage on the house I bought 20 years ago.” (Business Beijing Online, 2000). Do people in an old city finance their first home differently from people in a new city? Let us look at the case of