Country Garden held an internal meeting, at which Yang Huiyan said: "The family will definitely smash the pot and sell iron to support the company." "Don't take this statement seriously, it's just a statement. Country Garden, as the first real estate company in the universe, if it really reaches the point where the Yang family needs to smash the pot and sell iron, then the company will not be able to save it.
Real estate is not a small business, and trillions of debts cannot be solved by smashing the pot and selling iron. Show determination, say cruel words, everyone can listen to it on the scene, and the core depends on what Country Garden does. When a company is in a good wind, it climbs a tall building and sings a big show, which is not great, but the really powerful company is when the industry is down, and when it fights against the wind, how strong is its ability to resist risks?Can we survive the night in the midst of a crisis and watch the sun at dawn?
Country Garden said that in the first 11 months of this year, a total of about 500,000 houses have been delivered, with a cumulative delivery area of more than 60 million square meters, and there are still 400,000 houses that need to be delivered next year. The good news isAfter Xu Jiayin was arrested, Country Garden took the initiative to lock up the debt. In other words, there is still a lot of money in hand, and this money will not be repaid for the time being, and all of it will be used to give priority to the delivery of the building. The bad news isCountry Garden's cash flow is depleted very quickly, and debt defaults are basically one after another. The reason is that the house cannot be sold, the sales proceeds cannot keep up with the consumption of cash, and the cash flow is difficult to correct.
On the financing side, although banks and other financial institutions have reopened their financial support for real estate companies, a large number of real estate companies are out of danger, which after all, makes the financial side dare not take a step, and it is impossible to give blood transfusions to real estate companies as loosely as before. The policy is strong, but all parties are afraid that they will be involved, and there will be a discount in the implementation after all. The most stressful thing is sales.
In the stock market, housing prices are not falling, and new home sales are almost impossible to pull up. Because housing prices are inflated, they are seriously out of the income level of people who just need it. Suzhou has taken the first step and allowed real estate companies to cut prices to save themselves, and no longer set a 15% price limit range. As long as the real estate companies themselves are willing to cut, they can reduce it by 20% or 30%. In this way, the risk and pressure are transferred to the bank to a certain extent. The largest creditor of real estate companies is the major banks, once the price of real estate companies is greatly reduced, the income can not be withdrawn to fill the bank's loan principal and interest. However, real estate itself is not all pushed up by real estate companies, and banks play a role in amplifying leverage.
Nowadays, a large number of real estate companies are out of danger, and they all rely on them to carry them. To be honest, most of the Chinese real estate companies can't bear it, and after all, the banks have to bear some of it. When you make money, you earn together, and when you lose money, you have to bear a little bit together. Previously, various localities issued fall restriction orders for fear of causing a chain reaction, bringing down banks, and triggering financial risks. After checking the accounts and clarifying the debts, we can roughly judge how big the risk is and how much the bank can bearAccording to the current situation, if the price is not reduced, it will definitely be a worse loss.
On the one hand, real estate companies can't save themselves, and on the other hand, banks are also difficult to save principal and interest. Rationally speaking, real estate is too deep for the national economy. To overcome this hurdle, all industrial chains have to share some risks.
For example, the owner may have to slow down the repossession of the building, delay the repossession, and the quality of the repossession may also face a certain downgrade. As for real estate companies, not only do they have to sacrifice profits, but major shareholders also have to hemorrhage and dig out their family properties to fill in the pits for real estate companies. Banks also have to make profits, lower interest rates for home buyers, and bear some bad debts. The local ** should tighten the belt and live a hard and poor life. Land finance is not as fun as it used to be, and the hens that lay golden eggs can only lay silver eggs, and even don't lay eggs for a long time. Saving food and clothing, not only real estate companies should lay off employees and reduce expenditure, but also local governments should control budgets and tighten expenditures.
The worst thing is the ** business of real estate companies. Dragged down by real estate, a number of construction companies, material companies, and engineering companies have broken their capital chains and gone bankrupt. There are also a group of strong ** businessmen who have no way to accept the work and become a pick-up man. It's better to have a house to pay off your debts than to have nothing. **It is impossible for the merchant to hold all these work-to-house houses in his hands, and he still has to go on the market. Work-to-housing has become a bug in the price reduction of real estate companies. Many real estate companies are selling at reduced prices in the name of "work-to-housing".
Because if you pay your debts, you won't be your own. Since it is not his own, he can naturally bypass the fall limit order. In any market, as long as the supply exceeds demand and enters the stock competition, there will definitely be a stampede. Why are new energy vehicles getting cheaper?It's because of your life-and-death stock competition. In the future, China's real estate market will also move towards a new normal of high quality, large units, and improvement-oriented, supplemented by rigid demand.
Major real estate companies have a huge amount of stock housing, and it is inevitable to fight. The first article of the so-called market economy is determined by supply and demand, and consumers are not obliged to support the cost of producers. When the market is good, make money to sell, and when the market is bad, sell at a loss, which is in line with the logic of the market.
Suzhou has played the card of price reduction, and more cities will inevitably follow suit. There is no house that can't be sold, only ** that can't be sold.