At several meetings of the Real Estate Construction Association, Yin Jun also saw Chen Qi's traces of the infinite scenery some time ago.

The eldest son of Hang Lung Real Estate, who was stubbornly held as a "genius" on a par with Yin Jun, has now withered like a quail, dejected, and his hair and beard are messy.

Hang Lung Properties' life is one of the worst among all real estate developers.

Not only do they have a large number of developed properties and houses that have not been sold, they also have a more important and bigger problem!

That is the subject of the properties above the nine subway stations on the Hong Kong Island Line that Hang Lung Group and other real estate developers auctioned last year.

Now that the Cotton Tree Building in the Murray Road section of Central District is nearing completion, the Heung Hills Building in Admiralty 2 is being planned, and it is time to compensate the land price according to the agreement.

That's 1.82 billion!

In this case, where can they come up with it?

Even if they can take it out, who would dare to take it out?

Aren't you afraid that you will directly collapse your company for the sake of this project?

But if you don't take it out, you have to be in breach of contract.

The loss of money is an astronomical amount, and the entire property on top of the subway station has nothing to do with them!

is so tormented, no wonder Chen Qixian is so haggard.

It's not just Chen Qixi, their family is so decadent and haggard, and they don't know what to do.

Of course, it's not just them, few of the real estate dealers Yin Jun saw were normal.

Recently, the bars, night parties and other places in Xiangjiang have also lost their former liveliness, because they rarely go to discuss business in style.

The only ones who can maintain their demeanor a little bit are the super-rich who can develop in the future.

For example, Li Zhaoji, although his newly listed Henderson Land has been under heavy financial pressure recently, and the company's stock price has fallen sharply, he is still unhurried, and his eyes reveal firmness.

However, in such an environment, no matter how firm Li Zhaoji is and how confident he is in the future, he can't prevent the collapse of Xiangjiang real estate.

Just when the real estate developers were at a loss, they were hit with another hammer.

The price of second-hand housing in Xiangjiang has plummeted suddenly!!

The price of ordinary residential apartments in Tsing Yi has been reduced from $1,200 per square foot in August to $900, and it is still decorated!

The premium apartment on this side of the broadcast road has been reduced from the market price of 1,400 yuan per square foot in August to 1,000 yuan in one go!

The average apartment in Tsim Sha Tsui has plummeted from $1,600 per square foot in August to $1,100!

The luxury apartment with a view on Beacon Hill has plummeted from $2,000 per square foot in August to an incredible 1,300!!

Even the villas on the top of the hill did not hold up, and the price of three high-end villas on Pak Ka Road dropped from $5,000 per square foot to $3,000!!

Boy!

Hongkong Land's first-hand homes have dropped by only 25% at most, but the average decline is only about 18%.

But second-hand housing is 30%-40% violent, and it is the second-hand housing in Xiangjiang, within one or two days, all prices have plummeted, which is simply a slap in the face to real estate developers!

Why is that?

What is the situation?

After checking, it turned out that the first to start reducing prices were those middle class who had already completed the procedures for moving people but had not gone out for a while.

They won't live in Xiangjiang in the future anyway, how can they manage Xiangjiang in the future?

Then, thinking that the negotiations had broken down, in order to avoid their own war, for the sake of their families, of course, they had to sell the house in a hurry.

But in the current situation, how can the house be sold?

So, these people simply thought, I'm going to leave anyway, even if it's cheaper, I'll leave early, it's better to earn less than not get anything, right?

This group of middle-class people is the essence of Xiangjiang in the past twenty or thirty years.

Most of the houses they bought were actually very cheap, but thanks to the continuous development of Xiangjiang's economy in recent years, the houses have skyrocketed a lot.

Even if they sell it in half, they can make a lot of money.

Not to mention that they don't actually have more than one house, most of them own two or three or even more - in Xiangjiang, the middle class does not have a few houses, can it be called a rich middle class?

At first, dozens of houses came out, and then hundreds of them......

After two or three days, they released two or three thousand houses, which were good in terms of house type and environment.

Now everyone feels bad.

it!

That's what everyone thinks, huh?

It turns out that there are so many people to leave, and so many houses to sell!

Of course, they know the dangers of competing to reduce prices, but things have come to this point, and it is already difficult to ride a tiger, and no one has a way to quit, so they can only hold on, praying that because the price of the house is too cheap, they can sell it as soon as possible.

As a result, even this group of middle-class people does not know, and even if they regret revoking the sale of their houses, there is no way to do it.

Because, an even bigger crisis is coming.

There are many wealthy people in Hong Kong, but there are also many ordinary investors.

They are like the middle class, and it is very rare to have three or five houses, but they usually have two houses.

There are about 200,000 such Xiangjiang families, which is a large number.

In the past, most of the real estate in Xiangjiang relied on them to support it, so that it could prosper.

It's just that these investors are people who don't have much money, and their whole family is on two houses.

In the past, it seemed that you could also increase in value and maintain value, and you could enjoy the benefits of rising house prices while renting out and getting rent.

But now it's not going to work, the rich are selling one after another, and if it goes on like this, they can take the money and pat themselves on the ass and leave, what about us?

Do you just hold on to two houses that can't be realized at all, and finally wait until they are all confiscated?

It's not like nothing like this has never happened!

As soon as they thought of such a terrible thing, they panicked in their hearts.

If you want to say that they are ordinary people who only have one house, then they will not be so panicked, after all, it is impossible to sell the house directly because they are afraid, and then take the money to rent a house, right?

This is also too exaggerated!

But the problem is that they still have a house on top of it!

In such a grim situation, is it better to keep two houses and gamble on whether the most tragic thing will happen? Or is it better to sell one set and have some money in hand for emergencies?

Of course, many people will not hesitate to choose the second option.

After selling one, I still have a house to live in, and that's enough.

Even if the house is about to be confiscated later, I still have so much money in my hand and put it in the bank - the bank of the Americans, they don't dare to confiscate it, right?

This is the last guarantee for a family!

Right!

That's it!

As a result, stimulated by these middle classes, ordinary investors with two houses are also scrambling to join the wave of selling houses.

Their costs are high and low.

But with the choice of life and last protection, no matter what, they want to sell a house and add some security to themselves, even if it does seem to be a bit of a loss now, it doesn't matter.

All right.

As a result, more than 30,000 houses appeared in the market in just one week, and this number is still increasing, shocking all Xiangjiang people!

However, it is precisely because there are too many houses, and they are getting cheaper and cheaper, and even discounts have begun to appear, which makes those eager buyers dare not buy a house.

Why?

Who knows if the price of a house will plummet after I buy it?

If I buy it halfway up the mountain, or even the highest peak, wouldn't it be a loss?

What's more, if you rich people are worried about the confiscation of your house and the loss of your property, don't we poor people worry?

All the money I worked hard to earn was used to buy a house, and then before I lived in it for a year or two, it was confiscated and lost, can my family still live?

Why don't I have the money in my hand and wait and see!

Anyway, the house is plummeting, not soaring, what am I afraid of? What am I worried about?

It should be you rich people and those real estate developers who should be worried!

Look!

People from every strata of Hong Kong

Whether it is the rich, the middle class, ordinary investors, or the bottom of society, each has its own mind and its own plan.

And this kind of calculation is absolutely sharp, and it is impossible to reconcile.

What is the direct consequence of this?

Of course, the house can't be sold!

Whether you have more than 30,000 second-hand homes on the market or more than 7,000 new homes on the market, few people buy them.

At best, a few people who are carried away will buy a house, and they will only buy those that have been reduced by half.

As a result, there is an eerie quiet situation in the market.

The two sides are like two fierce waves separated by a wall, and now they are only out of a relative balance.

But everyone knows what the catastrophic consequences can be if this balance is upset.

Even Shen Bi already had a headache.

HSBC's base camp is in Xiangjiang, and if Xiangjiang is so chaotic, their life will definitely be difficult.

But even Shen Bi didn't have the slightest solution.

It is impossible for him to ask the developers to continue to reduce prices endlessly, and it is impossible for the people to hurry up and buy houses.

Neither approach is appropriate.

That's why he's distressed.

Even Shen Bi, the God of Wealth in Xiangjiang, was worried about being distressed like that, let alone other people.

Whether it is ordinary people or rich people, everyone is in a state of anxiety.

All Xiangjiang, I'm afraid the least distressed is Yin Jun.

At this time, he had temporarily put aside the matter of Xiangjiang, and took Lin Qingxia and a group of staff members to get on the plane to the United States.