Chapter 390: The Consequences of the Bubble Bursting

On the third day, Li Hucheng and his entourage of 11 people flew from Hong Kong Island to the East.

Although Li Hucheng reminded him not to buy anything on Hong Kong Island, Na Caixia and Director Lu still bought a large box of things each.

When they went to the airport, Li Hucheng, Feng Lun and others had to help them carry it.

Only Sun Xiaomi was quite obedient, and he didn't buy anything except the clothes he bought together.

The plane landed at Haneda Airport, took out the luggage, and met He Xiao at the exit.

I haven't seen him for nearly a year, He Xiao has grown taller and looks more mature.

"Brother Tiger, you're here. ”

Although he saw Xu Lili, in front of everyone, He Xiao still greeted Li Hucheng first.

"Okay, He Xiao, you've grown taller. Help Lili with her luggage. ”

He Xiao was a little shy, and Xu Lili was also a little blushing.

"Hello He Xiao. ”

"Hello Lili, welcome here. ”

"He Xiao, don't you recognize me?"

Yu Danning said with a smile.

"Sister Danning, don't you have time to talk to you. Sister Denning is getting more and more beautiful. ”

"He Xiao can speak, come, let me introduce you. ”

Yu Danning pulled He Xiao in front of He Can.

"Do you know this sister?"

He Xiao shook his head.

"We only talked to each other two days ago, did you forget?"

"Are you Sister He Can?"

"Yes, I'm your cousin. I went back to my hometown in Guanshan twice this year, but unfortunately you are not at home. Grandpa is now at Aunt Guanshan's house, and the last time I went back, I asked when I would see you. ”

"I'll see you when I get back. ”

"When are you going back?"

When am I going to go back? I don't even count if I say it myself.

He Xiao looked at Li Hucheng.

"Okay, I'll talk about this later, He Xiao. Let me introduce you to it. ”

Li Hucheng introduced everyone to each other, Li Hucheng, He Can, Yu Danning, and Xu Lili took He Xiao's car, and the other took two taxis and went to the hotel.

"Okay, He Xiao, you can drive. ”

"There was no way, it was inconvenient to not have a car, so I had to buy this second-hand car, which was not expensive, very cheap. ”

"Isn't it convenient to have a subway here?"

Li Hucheng had some doubts.

"I live in a place that is quite far from the metro station. By the way, Brother Tiger, my dad and my mom wrote to say that the specialty city has been built?"

"Yes, not only the specialty city, but also the garment factory. How are you here?"

"Fortunately, I'll tell you the details later. ”

"How are you learning the Oriental dialect?"

"It's okay, you can talk about ordinary daily conversations, but it's not enough to be a little more complicated. ”

"Don't be in a hurry, you will get used to it after a long time, and there will be time in the future. ”

Half an hour later, we arrived at the New Day Hotel.

As soon as I got out of the car, I saw a group of people looking at the roof in front of the door.

As soon as Li Hucheng and the others wanted to go in, they heard a burst of exclamations.

When I looked up, I saw a figure falling from the roof of the building.

Soon, with a snap, a person fell to the ground,

Someone fell from the roof of a building of more than 20 floors, and his body was broken.

Yes.......

Yu Danning and the others screamed.

Li Hucheng hurriedly hugged Yu Danning's head and turned her face to prevent her from watching this tragic scene.

The crowd dispersed in shock, looking at the corpses on the ground from a distance.

The people in the hotel ran out, and someone called after a while, and ten minutes later, a piercing voice sounded, and police cars and ambulances quickly arrived and set up a cordon at the scene.

"What's going on?"

Director Zhou was shocked and asked tremblingly.

"He Xiao, you go over and inquire.

Li Hucheng said.

He Xiao promised to go over and come back in five or six minutes.

"The suicide was bought with a bank loan a few years ago, but now he can't repay the loan, can't pay the property tax, and in order to escape the debt and keep the housing of his wife and children, he jumped off the building and committed suicide. ”

"Victim of a housing crash?"

"Brother Tiger also knows about the collapse of Toyo's property market?"

Of course Li Hucheng knows.

Since last year, Toyo's property market has begun to collapse, and this year's property tax is even more miserable.

Since 1964, Toyo has become the world's second largest economy after rapid post-war development. From then on, it continued until 1985, when a new turning point began.

In this year, Toyo signed a square agreement with five countries, including the United States, and the yen of Toyo appreciated all the way.

As the yen appreciated, a large amount of hot money poured into the Toyo, and banks, companies, and individuals suddenly had more money in their hands.

If the extra money is used to develop the manufacturing industry, it will undoubtedly greatly promote economic development.

However, at this time, the Toyo manufacturing industry was in a bottleneck stage.

The previously prosperous manufacturing industries such as color TVs and refrigerators have been built in large numbers in China, Southeast Asia and other places, where labor and other production factors are cheap and competitive.

Toyo's labor prices are high, production costs are high, and product prices lose competitiveness and become unprofitable.

But capital always has to find a way out, so it enters the stock market and the real estate market.

Thus began the nationwide real estate speculation craze.

The real estate market in Qiong Island is mainly funded by banks outside and within the island. Businesses and residents on the island have largely not participated.

Toyo's real estate market is even crazier, and not only banks, but also corporations and individuals have joined the frenzy, which is even crazier than the real estate market in Joongdo.

The result is a rapid rise in land and property prices.

There are two myths that people believe.

One is that there are many Orientals and little land, and the land will never depreciate. The second is the belief that property prices in the capital will only keep rising and will never fall.

In this case, it is believed that the government will always support the real estate industry.

However, there are some fundamental issues that have been overlooked. ‘

At this time, Toyo's urbanization rate was close to 80%, which meant that the dividends of urbanization disappeared.

At this time, the population began to age, the number of births decreased, and the birthrate began to decline. The demographic dividend is also gone.

This means that economic growth has lost momentum, the growth of housing prices has lost its support, and the bubble of high housing prices will burst sooner or later.

It was at this time that the government took the initiative to puncture this bubble. Real estate financing was no longer given, and property taxes were introduced.

The result was natural, the bubble burst, the property market collapsed, and house prices plummeted.

A large number of banks, real estate companies, and other businesses have collapsed. Those who take out all their savings or loans become poor overnight.

Many people have bank debts, and while paying off their debts, they also have to pay heavy taxes.

Many people couldn't support it and embarked on the road of self-destruction.

This man today is just one of many people like him.

Today is the East, and next year it will be Joondo.

If people who are still immersed in the real estate carnival in Qiongdao today, see this scene, I don't know how they will feel?

The first target of Li Hucheng's trip was Ogawa Machinery Co., Ltd.

He Xiao gave him the information that Xiaochuan Machinery was also involved in real estate speculation.

I hope that Ogawa Machinery has not been so bad that it has not come to this point, maybe this is my chance.

"It's none of us, let's go inside. ”

Li Hucheng took the lead and walked towards the hotel.