Death and mortgages
Dear Johnny,
Three things really bug me about Taiwan. Cars, mortgages, and I can't tell you the third -- its personal.
Well, everyone hates the pollution and mayhem caused by cars, but the second issue I haven't heard anyone really complain about.
Why do you need 20 percent to 30 percent for a downpayment on a house? You can't drive it away.
In countries like Canada and Japan, one can easily finance 100 percent. So why not Taiwan? It would help the lagging economy by creating jobs and there would be lots of houses for when China arrives.
Most importantly, I could buy a nice house instead of a crappy house.
I don't get it.
Blair Zettl
Johnny replies: I'm not sure why the Taiwanese downpayment would stop you from buying a nice house; all you have to do is save for a longer period before jumping in -- unless you're implying that all the nice houses will have been snapped up a horde of Chinese speculators by that time.
For mine, the only "nice" houses in Taiwan were built before 1945: in the Japanese style, or in the "Chinese" style that you increasingly see only in rural areas or in better-preserved communities like Meinung Township (美濃) in Kaohsiung County. Very few of these go on the market; the rest are either in the process of being knocked down or are in the clutches of local governments.
As for the downpayment, my source tells me that it's a means for agents to save time and sort out serious buyers from the shoppers.
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