With high property prices, is it OK to rent forever?

Mir Quasem (China)

I have a few regrets about buying my apartment. I bought in the downtown area of Shanghai and my mortgage is about 13,000 yuan a month. My pre-tax income is slightly over 20,000 yuan per month. I have a good job with a handsome salary and could travel abroad twice every year. Before I bought the house, I would usually eat out in good restaurants and buy items that I like. But now I have to save as much as possible to pay for the mortgage. My quality of life has dropped sharply.

Visitors view models of a real estate development at the Shanghai Exhibition Center, Mar 12, 2009. [Photo/IC]