Chapter 566: The property market crashes
The emergence of public elevators has made it more convenient for residents in those old communities to travel.
Moreover, those high-rise old houses under the name of Minsheng Company, which were almost unattended before, have become fragrant buns in the blink of an eye after the construction of such public elevators.
The residential advantages of high-rise housing have been fully released, which is equivalent to directly investing more than double the high-quality housing in the local rental market, making the already sluggish housing rental market even worse.
After Minsheng Company made demonstrations in some communities, more residents in old communities found Minsheng Company, hoping that the company could consider building some public elevators in these communities, and even be willing to invest a certain amount of construction funds by relevant residents.
However, after learning about the age structure of the local population, the number of new people in recent years, and the real estate situation through Minsheng Company, Wu Guangliang completely lost confidence in the profitability prospects of those mortgaged assets.
Unless a large-scale, labor-intensive enterprise can be introduced locally, it will be possible to revitalize these assets.
However, under the influence of the current industrial environment, most of the enterprises have been struggling, and the original scale cannot be maintained, let alone build a new factory in a place that does not have a complete industrial chain.
At least, under the current situation of the overall population development trend, Wu Guangliang is thinking about how to sell the assets in his hands as soon as possible, so he does not respond to the demands of those communities at all.
In addition to renting houses, Wu Guangliang also sold a large number of mortgaged assets through online platforms and Minsheng Company's own channels, and then exchanged them for materials needed by Minsheng Company.
Houses in the same location, the same quality, and the same area are almost equivalent to a 20% discount on the basis of the market price, and the relevant taxes and fees for the transfer are completely responsible for the Minsheng Company, and there are even special people responsible for cooperating with the buyers to handle the relevant transfer procedures.
For a small county with a permanent population of only about 100,000, the sudden appearance of thousands of second-hand houses with cheap prices, convenient travel, and almost enough to move in with a bag directly turned the entire priceless real estate market upside down.
Coupled with the influence of Minsheng Company, it only took a few days to dispose of nearly half of the mortgage assets.
The office window of the housing ownership registration center in the government affairs hall was almost completely occupied by the staff temporarily dispatched by the Minsheng Company to help.
In order to reduce the time of the approval process, Minsheng Company even temporarily set up a folding table outside the office window, and specially hired people who are familiar with the relevant business to conduct a preliminary review of the transfer information submitted by the staff of Minsheng Company, so as to ensure that problems are found before entering the approval process and avoid duplicate information in the approval process.
In addition, Minsheng Company also arranged people to help the clerks and do auxiliary work for some non-critical work in the approval process, which greatly improved the work efficiency.
The news that Minsheng was selling off a large number of fixed assets at a discount quickly spread throughout the county, causing panic among speculators who owned multiple houses.
Originally, the real estate market in the entire county is only so big, and it is almost priceless, and you suddenly throw out so many cheap second-hand houses, you simply don't want to leave a way for developers and speculators.
Seeing that more than half of the listings listed by Minsheng Company have been processed, and the sales momentum has slowed down, developers and speculators have finally realized that after such a wave of sales, the demand of the local rigid demand class has almost been released.
In the case of a 20% discount, the sales situation is not very hot, and if you don't find a way to get rid of the house under your name as soon as possible, at least in the next few years, it is impossible to find an opportunity to get rid of it.
Moreover, with real estate taxes already on the way, properties that exceed a certain area may face the dilemma of having to pay a large amount of real estate tax when they are sold.
These taxes may also be passed on to home buyers during an upward cycle in home prices.
But when the price of the house is in a downward cycle, these taxes can only be borne by the person who sold the house, otherwise, everyone else is the homeowner who bears these taxes, why should the buyer bear the taxes that should be paid by the homeowner.
Besides, there are people selling houses everywhere, especially with Minsheng Company, a giant that controls a large number of real estate, in front of it, and there is no shortage of housing at all.
The emergence of public elevators has completely eliminated the inconvenience of high and low floors, and there is no pressure at all to buy a house for the elderly.
So, if the price of your home doesn't meet the psychological price of buyers, don't want them to pay for it.
But in such a situation, what is the psychological price of home buyers?
It will certainly not be the same price as Minsheng Company.
Because Minsheng Company's houses are registered in the name of the mortgagor, even if the state implements a tiered tax system, most of the houses will not be able to pay much property tax.
In addition, Minsheng can also give priority to the sale of collateral that owns multiple properties in the name of one person, further reducing the cost of ownership, which is an advantage that ordinary property speculators and developers cannot have.
If you want to compete with the sell-off of Minsheng Company, you must at least reduce the price to the same level as Minsheng Company, and you must bear all taxes and fees yourself.
In other words, the longer these properties are held, the lower the final sales price of property speculators and developers will be lower than the sales price of Minsheng Company.
If it was before, those property speculators and developers could still survive through bank financing to wait for the market to warm up.
However, after the state has successively discovered a number of major cases of illegal credit granting, it has comprehensively tightened housing loans, and at the same time carried out a comprehensive clean-up of the existing debt and creditor's rights in the banking industry.
Banks themselves are already too busy to take care of themselves, where will they take care of the previous relationship, and it is their top priority to deal with the debt as soon as possible and reduce the leverage ratio.
As a result, in the absence of sufficient cash flow, the monthly mortgage payable by property speculators and the construction funds of developers are becoming increasingly tight.
As long as there is a supply interruption or unfinished, these assets may be auctioned by the bank, causing greater losses to themselves, so it is better to get rid of the stop loss as soon as possible.
Unlike other assets, fixed assets are strictly tied to the land, so it is not possible to have a more and more flexible market like other assets.
When the rigid demand that has been pent-up for many years in a small county town is completely released in a short period of time, there is no one to take over in this area.
Under the condition that the price of the house is discounted by 20% and the relevant taxes and fees are not borne by the people, those who can afford it have already bought it, and those who cannot afford it will not be able to make them pay no matter how low it is, because they have no money in their pockets at all.