Including financial onus better way to calculate spending ability
China Daily | Updated: 2017-11-10 07:45
GUANGZHOU, capital of South China's Guangdong province, has said middle-income families can also apply to purchase low-income public housing. Legal Daily commented on Wednesday:
Guangzhou's move is praiseworthy, as it can benefit more people. Some middle-income people shoulder heavy burdens, as income tax, raising children and caring for senior family members, consume the lion's share of their incomes.
In other words, being classified as middle-income does not necessarily mean a family can afford to pay the down payment and mortgage on a property in a big city such as Guangzhou, where house prices are high.
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