Sherry Sheng, a 29-year-old Shanghai policewoman, bought herself a 4,000 yuan (US$642) black fur jacket, splurging for the last time before she starts paying off the mortgage on her first home. Sheng is part of a generation of middle class that Chinese media has dubbed ?fang nu,? or housing slaves, a reference to the lifetime of work needed to pay off their debts. They?re taking on mortgages even as the government maintains property curbs to damp prices that have almost tripled since China embarked in 1998 on a drive to increase private home ownership.
Source: http://www.bullfax.com/?q=node-1800-year-triggers-taxes-domestic-help
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