What is the implication behind the phenomenon of housing surplus but continuous construction?
The root causes and current situation of the oversupply of real estate.
There are many reasons for the surplus in China's real estate market. According to Professor Wen Tiejun's analysis, the per capita housing area and the number of housing units per household in China's urban residents have far exceeded the actual housing demand. This surplus phenomenon is closely related to the sharp increase in the number of urban dwellings since the reform and opening up. Increasing urbanization and rising incomes have contributed to the growth of housing demand, but over time it has become saturated. Despite the surplus of housing resources, the real estate market is still very active. This is mainly due to the fact that many home buyers do not want to buy a home, but rather see the investment prospects of the real estate market as an asset allocation. This investment pursuit has led to the hoarding of a large number of properties, exacerbating the problem of unequal distribution of housing and unequal distribution of social wealth.
However, despite the oversupply, the real estate market is still booming. One of the reasons is that property developers and ** remain confident in the continued growth of the real estate market. Another reason is that home buyers generally believe that real estate is a safe way to invest and are optimistic about the potential for future appreciation. In addition, due to the loose monetary policy and the facilitation of mortgage loans, homebuyers are able to obtain loans at a lower cost, which also stimulates the desire to buy a home.
In view of the current imbalance between supply and demand in the real estate market, a series of regulatory policies have been implemented to guide the stable development of the market. Restrictive measures such as the purchase restriction policy, raising the threshold for buying houses, and restricting loans have achieved certain results. However, these policies only treat the symptoms and do not fundamentally solve the problem of excess real estate market.
Wen Tiejun's Proposal: Balance and Reform.
In the face of the oversupply of the real estate market, Professor Wen Tiejun put forward a series of future-oriented suggestions to achieve a balanced and healthy development of the market. He emphasized persistence"Houses are for living, not for speculation"The importance of positioning, and advocate the implementation of a long-term real estate mechanism, strengthen the main responsibility of the city, and promote the stable and healthy development of the market. Establishing a long-term mechanism can better balance market supply and demand and avoid excessive investment and waste of resources.
Secondly, Professor Wen suggested that the development of the housing rental market, especially the long-term rental market, should be accelerated to meet the housing needs of more residents. Through the rental model, residents can enjoy more flexible housing options without the enormous stress of buying a home. In addition, Wen Tiejun also suggested that the property tax should be reformed to regulate market supply and demand and reduce speculative demand. The introduction of property tax can make the real estate market more rational and reduce investment risks.
In addition, Wen Tiejun also called for a change in the concept of rural revitalization, investing excess financial capital in rural construction, forming new assets, and promoting the coordinated development of urban and rural areas. Rural revitalization is of great significance to alleviate the pressure of the urban real estate market and promote social harmony and stability. Through rural revitalization, farmers' incomes can be increased and enriched, and the level of infrastructure and public services in rural areas can be improved.
Market reaction and future outlook.
Professor Wen Tiejun's views and suggestions have attracted wide attention from the market and political level. His analysis not only reveals the current situation and problems of China's real estate market, but also provides new ideas for market regulation and long-term development. With the gradual implementation of these recommendations, the real estate market is expected to develop in a more stable and healthy direction.
On the basis of market regulation, the competent authorities should strengthen the supervision and management of the real estate market and promote the development of the real estate market in a healthier direction. At the same time, developers and investors should adjust their investment strategies to focus on the long-term health of the market, rather than short-term benefits. The public should also have a more rational concept of home ownership, and realize that real estate is not only a living space, but also a limited social resource.
Proposals to revitalize rural areas are particularly important to address the challenge of oversupply in the real estate market. The transfer of funds and resources to rural construction can alleviate the pressure on the urban property market, coordinate urban and rural development, and promote social stability and overall prosperity. Rural revitalization will not only help solve the problem of oversupply in the real estate market, but also promote economic transformation and modernization, creating more jobs and development vitality for rural areas.
In short, the surplus in China's real estate market is the result of years of market development and policy regulation. In the face of this challenge, Professor Wen Tiejun's opinions and suggestions have given us a new direction and a new path. It is hoped that through continuous innovation and reform, China's real estate market can achieve a balance between supply and demand, and contribute to the sustainable development of the economy. Both market participants and the public have an important role to play in this process of change. Everyone must look at China's real estate market from multiple perspectives and participate in and witness this historic change.