In recent years, the volatility of the property market has become a hot topic, and the discussion has often focused on developers, as if they are the biggest losers in this turmoil. However, if you look closely, the situation is far more complicated than meets the eye. In fact, there are also some groups who are also anxious about the long night because of the downturn in the property market.
Let me talk about some of the lessons that the property market has given us in recent years, especially for those who really can't sleep at night. It's not just an economic turmoil, it's about tens of thousands of families, dreams and futures.
When it comes to the direct victims of the property market, we can't fail to mention those small and medium-sized businesses. Imagine that behind every brick, every window, and every inch of wire in those construction projects, there is a team of professionals or small businesses working silently. When there is a problem in the capital chain of large developers, the first to bear the brunt is often these small partners in the downstream of the industrial chain. Compared with the huge assets of the developers, these small businesses do not have strong cash reserves, and if payments are delayed, they face pressure to pay salaries, material costs, and even the threat of bankruptcy. Behind this is the livelihood of tens of thousands of small and medium-sized enterprises and hundreds of thousands of employees, whose plight is often overlooked.
Let's take a look at the speculators. When the property market is good, they may be the most proud investors, and the difference between buying and selling can not only make them a lot of money, but some even use it as their main income**. However, when the property market turns cold, all glittering dreams are shattered, and they may face heavy debt pressure, or even the embarrassing situation of their property being auctioned off and being included in the list of dishonest. This is not only a financial loss, but also a heavy blow to the trajectory of life.
Of course, the most distressing thing is the buyers of unfinished buildings. They wanted to use their hard-earned money to buy a warm nest for their family. Who would have thought that the fluctuations in the property market would directly shatter their dreams. Not only does the unfinished property mean that their funds are frozen, but they also have to bear the interest on the bank loan. To make matters worse, this situation is often not resolved in the short term. Even if there are laws and regulations to protect the rights and interests of consumers, once the developer's capital chain is broken or bankrupt, it is tantamount to a catastrophe for them to recover their losses. This is not only a financial pressure, but also a huge psychological burden.
Finally, we cannot ignore local finances. In the glorious period of the property market, real estate is undoubtedly an important part of local fiscal revenue. However, as the market changes, land sales revenue, property taxes, etc. have begun to decrease, which poses a huge challenge to local finances that rely on real estate revenues. The recession in the property market has not only reduced the income from land sales, but also affected the tax revenue based on real estate, further compressing the fiscal space of local governments. To make matters worse, the problem of debt has become more complicated in the past when some localities borrowed heavily through land pledge financing, expecting to repay it through future land development and property sales.
This change in the property market is a profound lesson for many people. It is not only about the increase or decrease of property, but also about the life and future of every ordinary person. In this change, we have seen the hard work of small and medium-sized businessmen, the helplessness of buyers of unfinished buildings, the joys and sorrows of speculative tenants, and the challenges of local finance.
Every fluctuation in the property market reminds us that we need to be cautious when investing in real estate, and we need to be sensitive and predictable enough to the market. For ordinary families, buying a house is not only an economic decision, but also an important choice related to family happiness. We hope that through the ups and downs of these years, everyone can learn from the experience and make more rational decisions, so that the dream of home will no longer become unattainable due to market fluctuations.