Later, in 2012, XX, dean of the School of Economics of Southwestern University of Finance and Economics, said: "When the real estate bubble burst, the house price at the lowest time was less than 10% of the highest. ”

I bought a house with a billion yen, but by the mid-1993s, it was worth less than 100 million yen.

The stock market is losing money, so it's scary. Although it is terrible, it will fall because it will fall for a long time, and it will rise after a long time, so there is still hope. The real estate market presents a money-making effect, so it is cute. Although cute, it is even more terrifying, because if it rises for a long time, it will fall, and once the big fall starts, it will collapse.

After the bubble bursts, how cheap are the housing prices of the day and the bottom?

In the summer of 2013, a Chinese professor came back from a field trip and said, "The population density of the big city in Ribang is so much larger than in China, and I just came back from Hokkaido. The house in Hokkaido is so cheap, 1700 yuan / square meter, the land is yours. It's cheaper than China's eighth-tier county, hehe!"

Many people in later generations have counted that after the bubble explosion of the house in Riben, it is no longer any investment product, but a real consumer product, like electrical appliances and furniture, once it is used, it begins to depreciate. (Except for a few super prime location houses!)

Basically, if you live in a house for more than 10 years, you can only sell it for half the original purchase price. If it is an apartment, it is difficult to sell a house that is more than 20 years old, and the price has fallen sharply. This is difficult for Chinese to imagine in China.

Xu Xiaonian, a later professor of economics, said: "At that time, Riben relied on the absolutely dominant export economy for a long time, neglected the domestic market, and allowed real estate prices to soar. Since the bubble burst in the mid-90s, its economy has never really recovered. If we don't change, we're going to do it again. ”

However, it is interesting to note that when the bubble burst, the yen exchange rate did not change much.

Of course, it's easy to guess with your ass that this is what the United States meant.

The yen has not depreciated much, obviously more than the value of real estate, in fact, many large households have successfully escaped from the top, that is, there are more people who have escaped from the top to smash this bubble, otherwise how can it be broken? At most, it will fluctuate at a high level, and the property market has indeed fluctuated for 2 years, and the shipments of large households are almost there, and no one will accept the goods, and it will naturally be gone forever.

The simple truth is that the 120 million RB nationals are the losers, and it is the Americans who have the last laugh.

The biggest loser is all the people who are stupid, especially those who take out loans to buy houses, in the case of insolvency, they must be negative equity, and it is difficult to have a chance to turn over. Some stupid people even die themselves, and some people want their sons to pay off the mortgage, which is the price of madness during the bubble period.

All the logic of the bubble period will be falsified after the bubble bursts, and you will look back decades later to see how stupid and ignorant you were.

However, He Zilong knew that compared to other countries, although the end of the day was bitter, it was not a disaster. Because in 1990, Riben had already built another overseas Riben overseas to supply blood for himself. So, the government can't collapse!

-

"Ah, "Notice on Controlling the Total Amount of Real Estate Financing", what is this going to do? The short-term loan interest rate has been raised to 6%, what is this going on, the good things that the stupid pigs in the cabinet have done...... "A middle-aged man in a suit and leather shoes in the next seat suddenly let out a miserable scream, attracting the attention of everyone in the high-speed train.

In the end, it is a high-speed rail, because the ticket price is not cheap, and a free newspaper of the day is given to the guests.

The newspaper in the hand of the stupid man in the middle-aged suit and leather shoes, He Zilong and others also had a copy in their hands. I saw that on the front economic board, with a large character with a picture, a large presentation was reported. The government and the headquarters of the bank issued the so-called "Notice on Controlling the Total Amount of Real Estate Financing".

Ordinary people may not be able to reflect it, but the clever Luo Dong and Mei Sizi looked up at He Zilong after taking a closer look, and their eyes were full of shocked and admiring expressions. Unexpectedly, I was still chatting just now, and as soon as I returned to the major events that happened in the country of God, He Zilong was given the material, and this came too quickly, right?

The "Notice on Controlling the Total Amount of Real Estate Financing" was later called the "flashpoint" of the collapse of the RB bubble economy, and housing prices and stock prices turned around and fell.

Banks have raised their interest rates on short-term loans to 6%. What's more, in 92, the Ministry of Finance introduced a land price tax, which made the already sluggish real estate even worse, and the high-end department store industry because its store location is located in the most prosperous area of the city, the annual land price tax of 0.3% is more than 20% of the profit of goods, and the suppression of the land price tax on housing prices can be seen.

Obviously, He Zilong thought of this, and blurted out again: "I don't think this is over yet, the land tax is coming soon......"

As soon as these words came out, Mei Sizi and the others hadn't said anything, but the stupid man in a middle-aged suit and leather shoes next door heard it first. He stood up nervously and said to himself: "Impossible, impossible, if the local tax policy is still introduced, there is no personal bankruptcy, I still have ten houses, I will pay it back for the rest of my life, and I will only repay the interest, and I will not pay off the principal until I die, my God......"

It may be that this thing is too terrible, the middle-aged man in a suit and leather shoes is stupid, and after talking to himself, he scared himself out. The train staff was startled and hurriedly called the train medical staff for rescue and care.

Luo Dong looked at each other with a face, Mei Sizi gasped, and said to He Zilong: "Zilongjun, I also have a suite in Ginza, Tokyo, you see ......"

"If you go back, you will sell it at a reduced price, the loss point is always a hundred times stronger than the trapped, and it will ...... faster," He Zilong proposed categorically.

"I've also invested in the stock market...... "Mei Sizi's pear blossom was already scared, and she said another sentence in a trembling voice.

"Stocks are even more unplayable, even if you cut the flesh and bones, you will lose half of it and sell it, and as soon as you get off the high-speed rail, you will go to the exchange first to get this done. The stock price is ever-changing, and it must not wait for ......" He Zilong raised his eyebrows and gave a stop-loss proposal.

"Okay, I'll listen to your ......"

If it is said that the high-priced house may wait a little longer and sell at a loss. Compared with the stock markets of developed countries that do not have a price limit and a price limit. As soon as the impact is there, you will know what despair is, and that's no joke. Some people may be in a day, when the Great Bear Market is coming. The stock price fell by 90%, one million became 100,000, and 100 million became 10 million.

Moreover, if the selling order is greater than the buying order, sometimes there may be a suspension, suspension, or circuit breaker or the like, and you can't even get out of the last 10% of your wealth.

If you still borrow money, or add a lot of leverage, you may be laughing one minute, and the next minute you will go to the rooftop to jump off the building, which is not an exaggeration at all.

-