Long Yongtu, secretary-general of the Boao Forum for Asia, said at a recent forum in Nanjing that it was not a "correct choice" that everyone wants to purchase their own home. He suggested more Chinese rent homes as in the US. About 30 percent of Americans own their homes while more than 60 percent rent. His remarks triggered a surge of media comments. The following are excerpts.

Shanghai Securities News:

Long is not the first official encouraging people to rent an apartment instead of buying one. Neither is he the only one attributing the preference of owning a home to a traditional perception of property and family.

However, this preference is actually backed by economic calculations. Closely connected to property prices, rents are also climbing as housing estates become more expensive.

People owning their homes can enjoy life without being influenced by rising property prices, but tenants have to worry about possible rent hikes.

People also find it more economical to own a home rather than rent when they estimate the costs of moving between rental apartments.

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Most rental apartments in China are not necessarily well equipped for instant move-in. The tenants may have to buy their own furniture or TV sets. To make things worse, the items they need to buy could vary dramatically in different rental apartments.

It consumes both time and effort to find apartments on their own if tenants do not want to pay large sums to housing agents.

More importantly, the supply of apartments for rent is far less than the demand. The reasonably priced housing built by the government is only available for sale, not for rent. Such housing would be an ideal choice for low-income earners if they were allowed to rent instead of buy.

Yanzhao Metropolis News:

It is not realistic that all citizens own their own apartments in China. Long is right on this point. However, he has neglected the substantial differences between cultures and social systems in China and the US.

Most Chinese people would like to have a tangible asset. This aspiration is determined by the conditions in our country.

If people have homes of their own, they have a permanent address under the household registration system, they are viewed as people with property and they have some assets in case of emergency.

It is therefore natural for people to want their own assets.

When Long told us that 60 percent of Americans live in rental housing, he should have noticed such a high proportion, if true, is a result of the mature social welfare system in the US.

US citizens have access to universal social welfare benefits. They have fewer worries about their future even if they live in rental housing.

In contrast, the social welfare system in China covers a limited portion of the population and many families are stuck in poverty if a family member becomes ill.

Against this background, a house represents an asset that can shelter a family from possible risks. After all, the house is tangible and could be converted into cash when necessary.

It is, therefore, improper to dismiss people's aspiration to own their own home as an "incorrect choice".