Cao: Increase in deposit reserves or a turning point in housing prices

Economic Watch Network reporter VECHENGWU Correspondent Ding The People's Bank of China January 12 decided to raise the yuan deposit reserve ratio of 0.5% financial institutions.　　In this regard, Chinese Academy of Social Sciences researcher Cao said that this is a bad news for the king and the fast-expanding property companies, and housing prices in the credit policy has lost space after the inflection point. Cao said that a 0.5% increase in reserve requirements, just a fine-tuning of monetary policy, is only the beginning.　　The above operation can recover about 300 billion yuan of liquidity.　　Last year's loose monetary policy mainly looked after the adjustment of the economic structure, focusing on infrastructure and other aspects of construction, property itself is a restricted sector, now, the overall money supply tightened, real estate development loans must be the first to be squeezed. According to Cao Haijian estimates, last January-November, the real estate industry 4.8 trillion of the source of funds, of which about 3万亿来 from the bank loans.　　He has also repeatedly said that China's real estate bubble is Dubai 3~4 times, house prices fall is a long-term trend, to two or three years in China's urban housing prices more than half of the adjustment space. "It was a bad news for the land King and the expansion of the company last year.　　"Cao so analysis, he said, the current developer's inventory has been basically consumed, and its main selling to the hands of the speculators, if the speculators can not bear the words, the bubble will burst." This paper is a joint launch of Economic observation network and SINA Finance