As young people transition into adulthood facing a highly competitive job market, they also must contend with soaring house prices that force many to choose between financial independence or relying on parents or banks to provide them funding.

What follow are accounts of three young adults who reside in different large cities, and how they've made choices that have given them some piece of mind.

"I can't put pressure on my parents." – Wang Hao, Shanghai

Wang Hao.

Wang Hao, typical of the post-70s, was born in Henan Province but has been living in Shanghai for eight years. He owns his home and did it without taking a penny from his parents. However, when he first came to Shanghai in 2002, he faced a less-than-ideal situation. He arrived in Shanghai with his girlfriend after his graduation, and the two were married by the end of the year. Although at that time, the average house price in Shanghai was only 3,000 yuan per square meter, it was nonetheless a significant amount of money for the newlyweds, so they initially had to rent an apartment.

Wang's father is a farmer, so the family struggled financially. His younger sister went to work to help support the family when she graduated from junior high. However, the financially-challenged family still managed to pay for Wang's education, for which he remains grateful.

"I greatly appreciate that my father and my family tried their best to support my university studies, so I couldn't put added pressure on them by asking them to buy a house for me," Wang explained.

In 2004, Wang's wife became pregnant, and at that point he decided he would buy a home for his expanding family. After an arduous search, attempting to get a good location with an affordable price, Wang secured a bank loan and bought a house for 800,000 yuan. Last year, he repaid the loan ahead of schedule.