Su Mu's trip to Yanjing went well, living in Diaoyutai, and visiting the city with the French finance minister, who happened to arrive, bought some antiques and snacks, and also took a few plots of land in the planned downtown area, planning to build shopping malls and residences.

In this era, transportation is not convenient, the country has the same plan to build a super railway as the Shinkansen, but unfortunately there is no money in the pocket, it is still in the exploration period of economic development, there are not many high-rise buildings in sight, the road surface is not spacious in many places, and the road is still mostly bicycles and motorcycles.

He was relaxing in China, and something happened to the company in the United States.

Mainly OO and Bee, the two companies, whose turnover fell seriously in July this year, coupled with a group of bears desperately fanning the flames, caused the market value to fall by 9% in just two days!

All of a sudden, Su Mu lost a lot of money again, and its market value fell back to the level of March this year, triggered by the fact that Morgan Stanley, an investment bank one of the major shareholders, planned to reduce its stake by 3 percent, citing the need to cash out and invest in other industries.

He now has money in his hand, and he can eat this part of the stock, the reason why he didn't make a move is mainly because of the recent depreciation, which is more beneficial to him in the long run, Su Mu is eager to buy back more shares, and a high price means a loss.

Since the beginning of this year, the Nasdaq is still tepid, and there is no sign of recovery, so it is naturally better to be able to spend less money to buy back shares.

The market share is too high, and it is still expanding to other countries at a terrifying rate, the user base is here, the company is actually not in trouble, he just doesn't want the stock price to rise too high for the time being, and it is expected to be still a low level worth buying, and is ambitiously trying to throw $5 billion to $7 billion into the Nasdaq market.

Optimistic about the market in China, and more interested in the economic prospects of the United States, his eggs were packed in several baskets, and he lost three or four billion dollars in just two days, and he didn't think it was a big deal.

At this time, he was staying in the room of Diaoyutai and heard a knock on the door, and he replied: "Please come in, the door is not locked!"

A young man in a dark gray suit walked in, followed by a middle-aged man who was Svenven.

Su Mu hadn't seen this middle-aged man, but he knew the young man in a suit, who was a little secretary during his time in Huaxia, and when he left the Great Hall yesterday, someone said that when he encountered something, just talk to this young man surnamed Zhao, and he will definitely help if he can solve it.

"Mr. Su, I found the things you wanted, and I also found a professor from Peking University who studied the incident back then, just ask him if you want to know anything, and I will wait outside. The secretary surnamed Zhao said to Su Mu with a smile on his face.

Su Mu said politely: "It's okay, you can also sit down, it's very tiring to be busy." ”

"Where, what should I do, go and make you a cup of tea first......"

Secretary Zhao went out and left the middle-aged male professor from Peking University.

Thin and tall, I was found in a daze today, and I didn't even give a chance to change my clothes, I thought I was going to meet those people above, but on the way I learned that I was the richest man in the world who came from the United States, and introduced some specific information about the real estate bubble on Nanhai Island in the first two years.

Su Mu wants to engage in real estate development business in Huaxia, Shi Zhu has a phone call a day, the hot sales of real estate have been known, and his personality is quite stable, and he is ready to figure out the situation first, and then decide when to start the construction of the real estate company.

When it comes to the property market in this era, it is impossible to get around the real estate bubble that occurred on Nanhai Island in 1993, which was a pilot of China's property market policy, but it ended in failure, resulting in a collapse of real estate development plans across the country.

In the twentieth century, among the several pillar industries that supported the economic development of the United States, real estate was the key point that could not be ignored.

The real estate industry is not just real estate, but also drives the development of building materials, construction companies, decoration, banks and other industries, brings countless jobs, and increases official revenue.

Su Mu stood up, stretched out his hand to the middle-aged professor and said, "Please sit sir, have you experienced the real estate bubble on Nanhai Island in 1993?"

"Well, my name is Song Nan, a professor in the Department of Finance of Peking University. ”

After introducing himself first, he shook hands with Su Mu and said hello, probably because he didn't often deal with people, so he sat down and replied: "In 1991, in order to write my thesis, I went there for two months, and then the housing price collapsed, and I went there a few times.

I did some research, but I certainly didn't know as well as the developers. ”

"It's okay, can you tell me what it was like at the time?" asked Su Mu.

"What's the matter? Probably a bunch of state-owned enterprises are crazy, frantically rushing over to develop houses with the support of policies, and the total number of people is only more than 6.5 million on the South China Sea Island, in just five years, there are more than 20,000 real estate companies!

From 1990 to 1993, the collapse of local housing prices increased more than fourfold, leaving behind more than 600 unfinished buildings, more than 18,800 hectares of idle land, and a backlog of 80 billion yuan, and the bad debts of the four major state-owned commercial banks alone amounted to 30 billion yuan. Developers have fled or closed down, and people have described Nanhai Island as Tianya, Haijiao, and unfinished buildings, and the local area has been working hard for a long time to clean up unfinished buildings and bad loans. ”

When Professor Song Nan said this, Su Mu immediately asked: "Later, is there a policy now, I mean the policy to suppress the real estate bubble?"

"Of course, housing prices are restricted, and the qualifications of developers are also strictly reviewed, as long as it is a state-owned enterprise in the past, it is easy to get money from the bank to develop real estate, but now the review is more strict.

In my opinion, the real commercial housing market has not yet begun, and the current developers, mainly some state-owned enterprises, use the land in the factory to build good houses, and then sell them to employees, and sell the surplus to the outside world.

Most of them are like this, the special economic zone is a bigger step, in order to develop, the local land use rights can be sold to developers, there is a real estate under construction near my house, more than 2,700 square meters, and a basement and garage. ”

Song Nan was afraid that Su Mu would not understand, and then told him: "Before the collapse of the real estate bubble on Nanhai Island, the housing prices in some places rose from about 1,003 to more than 5,000......!