People talk about destocking in the property market: how to sell so many houses
implementing the reform plan of the registered residence system and accelerating the citizenization of migrant workers are of great significance to the formation of real estate market demand and the stabilization of market expectations
the central economic work conference pointed out that one of the five major tasks of economic and social development next year from the end of last year to the beginning of this year is to resolve the real estate inventory
9. The shell of the experimental machine must be safely grounded. The so-called high pressure on real estate inventory means that there are too many houses to sell. According to the calculation, the inventory elimination cycle of our existing houses is as high as 23 months. This real dilemma of "many people without houses" and "many people without houses" is really a sweet burden for us who are in the process of accelerating urbanization
can so many houses be digested by the government stimulating demand? I'm afraid it's difficult. The weak property market is not a cyclical problem. Today, China's households have nearly 1.1 sets of housing, and the relationship between supply and demand has been reversed. Even though the government has successively cancelled various restrictive policies since the second half of last year and introduced preferential policies such as interest rate reduction, down payment reduction and tax reduction, the recovery of the property market is still slow, and urban differentiation continues to intensify. This shows that the "tonic" of "one size fits all" is no longer suitable for the current property market
is it feasible to rely solely on the market to digest slowly? I'm afraid not. The stability of the property market is not only related to the asset value of thousands of households, but also directly affects the stable operation of the macro economy. Affected by high inventories, the direct contribution of real estate investment to economic growth fell to only 0.04 percentage points in the first three quarters of this year. This not only means that many industries related to real estate, such as steel, cement, building materials, furniture, etc., are having a hard time, but also brings employment and financial pressure. It is necessary to check the wind circulation system and increase systemic risks such as banks. How can the government sit idly by
when we admit that there is a foam in the property market and try to resolve risks in the adjustment, we must choose "one burst" or "slow spread or the zero position often changes". It is the duty of governments at all levels to guide reasonable expectations and avoid the "cliff like" decline of the property market caused by market panic. Therefore, this year's central economic work conference proposed a number of institutional reforms from the supply side, especially the implementation of the reform plan of the registered residence system and the acceleration of the citizenization of migrant workers, which is of great significance to the formation of market demand and the stabilization of market expectations
although the central government has issued policies to release the reform dividends and create an environment conducive to maintaining market stability, it is up to the developers themselves to resolve the inventory of the real estate market, and appropriate price reduction is the most wise choice. Developers who have always followed the high and cold line must face up to the fact that any industry will move from a shortage economy to a total balance. Especially for the third and fourth tier cities, the real estate industry, which has reached the inflection point, is an inevitable choice for price reduction, promotion, transformation and upgrading. After all, the government, experts and developers don't count on buying a house. It depends on the face of the people. With such a large asset investment, developers have no sincerity to make profits. Who will pay real money to save you
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