Friday, April 15, 2011

Chinese Bachelors and the Housing Bubble

Today, the New York Times wrote that Chinese bachelors can’t get a second date if they don’t own property. In a country where mei Mianzi (losing face) must be avoided, this is a crisis

Now let’s think about the many people who have predicted an end to the Chinese property bubble. Does this mean ambitious men want to spend their days  and nights alone.  I doubt it. They have to buy something, even if it means getting a second job.

In an earlier blog, I said;

One female PhD who lives in China told me what she was interested in from a man. Here they are in rank order:

1.       He has to have a good, secure job.

2.       He should have a house

3.       He should own a car

I asked her about love? She said that it would probably come in time, but it wasn’t a deal breaker. (Remember we aren’t talking about Chinese women who grew up in America, this is about people who grew up in Mainland China.)

All those people who predict this collapse clearly don’t understand Chinese women.

I know Chinese immigrants who bought houses in the U.S when they were at ridiculously high prices. In every case it was the woman driving the purchase.

In America, women can disregard a guy’s present situation if he looks like someone with a future.  In an ambitious country like China, where they have a superior K-12 system in places like Shanghai, it’s like rolling the dice. (BTW, in China the nerd with the granny glasses can get the pretty girl. They don’t necessarily care whether he was captain of the football team.)

So does an ambitious bachelor want to spend his life alone? What’s your guess? And what do you think about China’s housing bubble?

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