A survey titled Citi Fin-Q Report (warning: this report is a PDF file and I’m warned that it may contain a virus; kindly proceed with caution and read my note about PDF files at the bottom of this page) published by Citibank on September 2008 tried to determine the financial IQ (Intelligence Quotient) of respondents from Australia and ten Asian nations, including Filipinos, in terms of managing their personal finances.

This post will focus on a small but interesting portion of that study: home ownership, particularly in China and the Philippines.

A staggering 81% of Chinese respondents live in their own home that’s either already fully-paid for or mortgaged. Compare that with only 42% of Filipinos. (more…)