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> where will my kids live In all likelihood, they will either need your help to buy a house, or be content with renting. If you think real estate prices have
by smallnamespace 6y ago
> where will my kids live
In all likelihood, they will either need your help to buy a house, or be content with renting.
If you think real estate prices have ballooned in Canada, wait until you see what rental appreciation was like in tier 1 cities in China — easily 10x - 20x price appreciation over a few decades.
Price per square foot in Beijing is 'competitive' with world cities like Toronto, NYC, London, etc., but average wages in China are maybe ~1000-1500 USD per month equivalent.
So yes, parents help their kids in China. If the government is unable to effective do wealth redistribution, then families have to do it.
- cmrdporcupine 6y agoI have no problem helping my kids but the reality is even with my Googler income I will probably have to sell this place and move somewhere cheaper/remoter in order to have the retirement lifestyle I want. And if my kids are living with me, that will in all likelihood reduce their income potential. And if they're not living with me, I'll be having to fund them living in a more expensive area.