President of the Chamber of Commerce of Real estate: the real price drop

In the "2009 Brand China Real Estate Summit Forum", the National Chamber of Commerce Real Estate Association president Niemeisheng yesterday, although "country 11" is very targeted, but look forward to a substantial decline in house prices this year "unrealistic."　　"Improve the housing" policy to stimulate speculation Niemeisheng will "State 11" summed up as "comprehensive, targeted, operable", its emphasis on three places in the document proposed only for commodity housing prices too high, rising too fast city, so will avoid the past "Beijing sick, the national medicine" situation. For the "Country 11" in the most concerned second suite "the first payment ratio of loans shall not be less than 40%, the loan interest rate strictly according to risk pricing" this clause. Niemeisheng reminded the State Department that it did not mention the "improved housing" concept proposed last year to stimulate the bailout, because "improved housing and speculative second homes are difficult to define, resulting in a grey area, resulting in a lot of speculative purchases enjoying 70 percent interest rates and a 40% down payment,　　Actually caused a lot of fried tenants to use bank loans to fry House. 4 trillion investment is used in the real estate market "country 11" also proposed that "relevant departments should strengthen the flow of credit funds and cross-border investment and financing activities monitoring, prevent credit funds illegal entry into the real estate market, to prevent foreign" hot money "impact on China's market," Niemeisheng that this is the most critical measure of price　　Last year, 4.8 trillion in the real estate market, certainly many of them belong to the bank 10 trillion credit and the country 4 trillion investment. According to Niemeisheng's analysis, "State 11" after the introduction, trading volume will appear smooth or even downward, but the price is difficult to change at the moment, because "now the real estate business with ample funds, inventory is not big, no power to reduce prices, they will wait and see a period of time after the market reaction before making a decision. Niemeisheng warns that the biggest worry now is the leverage of real estate funds, "Freddie Mac and Fannie Mae were 20 times more leveraged when they went bankrupt, and now many cities in China are already more than 20 times." "(Source: Beijing News)