Recently, a survey report released by the Ministry of Land, Infrastructure, Transport and Tourism of South Korea has attracted widespread attention. This report shows that the average household in South Korea spends $15It takes 2 years to purchase a property in Seoul. This figure is alarming because it means that these families have to spend all of their income on buying a house, even without eating or drinking. As the most developed city in South Korea, Seoul naturally has very high housing prices. These data make me think that we seem to be even more dire than the situation in South Korea. Let's take Shanghai as an example for comparison. According to statistics, the average unit price in Shanghai is around 60,000 yuan per square meter, and a small two-bedroom apartment of 70 square meters costs 4.2 million yuan. In 2022, the per capita disposable income in urban areas will be 49,283 yuan, and the average family size will be 262 people. Based on these calculations, the average Chinese family would need 32 yuan to buy a two-bedroom apartment worth 4.2 million yuan in Shanghai5 years, almost 15 years in South KoreaTwice as many as 2 years. In addition, another statistic from South Korea's Ministry of Land, Infrastructure, Transport and Tourism shows that the house-price-to-income ratio in the Seoul area is 93。And what about Shanghai?We calculated that in 2022, the per capita disposable income of Shanghai residents will be 79,610 yuan, and the per capita disposable income of a family of three will reach 23880,000 yuan. Buying a house for 4.2 million yuan (70 square meters) requires no food or drink176 years, the same South Korea 15Twice as many as 2 years. From the point of view of the house-price-to-income ratio, we do have a harder time than South Korea, which makes people feel a little bit broken.
In addition, there is a certain degree of differentiation in the housing market in South Korea. The national average house-price-to-income ratio increased from 6 in 20217 down to 63, while the house-price-to-income ratio in the Seoul area has increased from 141 to 152, Incheon also from 71 to 77。This shows that there is a certain differentiation in the property market in South Korea. Housing prices in core areas**, housing prices in non-core areas**, or the income growth rate of residents living in core areas cannot keep up with the growth rate of housing prices, but non-core areas have caught up. This divergence has led one to wonder if a similar situation will occur in China's property market. That is, housing prices in first-tier cities continue to be **, and housing prices in other cities**. It is still difficult to draw conclusions, and we need to wait for the property market to enter a period of calm before we can draw conclusions. But what is certain is that if it is a huge challenge for Koreans to buy a house in Seoul, then the average Chinese family buying a house in a first-tier city can only be described as a dream.
In addition to high housing prices, another factor has to be mentioned, that is, the income of the vast majority of Chinese is low. South Korea's per capita salary is equivalent to about 210,000 yuan, and the per capita GDP is about 2260,000 yuan, and the ratio of per capita wage to per capita GDP is 929%。Compared with South Korea, Shanghai's per capita GDP is 180,000 yuan, and the average annual salary per capita is about 1460,000 yuan, the proportion is 811%。In addition, in the first three quarters of 2023, China achieved 913 trillion yuan of GDP, per capita disposable income of 29,398 yuan, to 14Calculated for 100 million people, the total disposable income is 415 trillion yuan. National income as a percentage of GDP is 45%. In contrast, the United States has a national income of more than 60% of GDP, while other developed countries have at least 50% or more. Therefore, the reason why Chinese people cannot easily buy houses is related to low income, in addition to high housing prices. Although over the years, the government and local governments have formulated a series of policies to stabilize real estate, lowered the threshold for buying houses, and reduced financing costs, but the actual effect is not satisfactory. The reason for this is that people's wallets are not bulging.
As one netizen said: "What I lack is not the loan interest, but the principal and down payment for the house." "To get out of this situation, we need to do both. On the one hand, we need to strip the financial attributes of real estate and let house prices fluctuate within a reasonable rangeOn the other hand, we need to raise the national income so that the people have money in their hands. This requires not only reforming the way income is distributed, increasing the proportion of labor returns, and curbing the growth of capital income, but also better addressing the problem of the widening gap between the rich and the poor. We often hear the saying, "Let some people get rich first, and then bring the poor to get rich." Now that the first half of the sentence has been realized, some people have achieved rapid accumulation of wealth under the wave of reform and opening up. What is needed now is to get more of the poor rich and change this inequality. Only in this way can we achieve a balance between housing prices and incomes, so that more people can enjoy the fruits of economic development.
The above is my personal opinion, welcome to follow and like @王五Say Look, your support is the best encouragement for originality!