I have always thought of myself as a frugal person who plans ahead. Yet, the older I get, the more I have to face a hard truth: I cannot provide for my children the way my parents provided for me. I am far poorer than they were.
Even though my spouse and I work hard, our combined income amounts to just over VND30 million per month, which barely covers expenses and our children’s education. We are still living in the house my parents gave us. Sometimes I wonder: if we had not been given the house, how would we have managed?
As our children grow, my concern for them and their ability to marry and settle down in their own homes only grows. My parents, despite hardships, were able to give each of their kids a house. But for my generation, that seems like an impossible task.
As an average worker who got a house from my parents, I cannot help but wonder—how will my children ever afford a home these days? After getting married, will our children be able to afford a decent home? Will they have to continue living with us? Even if we cannot give them a house, should we at least help out a little?
My youngest child has only been working for a few years, earning just over VND12 million per month. “This is what most companies pay,” they say.
Occasionally, they spend VND50,000 on bubble tea or a coffee date with friends on weekends.
I know many older people would say: “You earn VND12 million a month, and you dare to buy a VND50,000 milk tea?”
But I cannot do that, because I know that even if they cut out all these small joys from their life, even an apartment, which now costs at least VND3-4 billion, would still be out of reach.
For average people without the talent to secure higher-paying jobs, how realistic are our chances at homeownership?
Advice like “save diligently and you can buy a house” is so outdated that they only make young people laugh. The truth is, most people of my generation cannot support our children, meaning we are forced to watch them struggle in a real estate market that even financially savvy adults find challenging.
Yes, my parents worked hard and saved every penny, but they were able to secure a house for each of us also because prices were much more reasonable at the time. That was a kind of benefit my generation was born into but probably cannot pass on.
We must confront a tough question: are young people “wasting money,” or is the problem a rapidly changing economy that leaves behind the average workers?
If we continue to blame young people’s spending habits, we will miss the chance to discuss real solutions: developing affordable housing, curbing speculation, increasing market transparency and providing reasonable credit support for first-time homebuyers.
As a parent, perhaps the only thing we can do now is accept the harsh reality that my parents could buy houses for their children, but I cannot.
*This opinion was submitted by a reader. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.
Comments are closed.