Word: livingness
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And that's where the simple comparison to the U.S. after 1945 breaks down. Journalist turned businessman Jim McGregor, one of the most astute observers of modern China, says that the country is cramming three different eras of U.S. history into one. In U.S. terms, the postwar prosperity that fueled...
Their reasons for moving way out here are familiar. For some, it's proximity to work. The old Songjiang, the neighboring town, is heavily industrial, with a string of modern factories - many foreign-owned - that runs for miles. One friend, a guy I play basketball with at a gorgeous new...
The migrants, of course, hope to move on. Before my wife and I bought a car here, we used to call a guy named Shi Guozheng, 27, from Anhui, who was a taxi driver of sorts. Shi had a battered old van, and made a living transporting migrant workers back...
I think trouble - and change - comes the day Shi Guozheng doesn't have another place to move to, another job to go to. It's not the people living the Great Chinese Dream - with the new house and the car and the dog and maybe a second child on the...
Consider a typical home that sells for $218,900. You put down 20% and get a 30-year fixed-rate mortgage at today's rate of 5.5%. Monthly principal and interest come to $994.31. Let's say that 12 months from now the same house goes for 10% less, or...