Price of house prices racing to watch the housing bubble rise

The policy stimulus of broad credit and low interest rate, the release of investment demand, led to the rise of house price and land price, which was the track of real estate industry in the first half of 2009.　　Insiders pointed out that the second half of the high prices restrained by the rigid demand will shrink, the new king of the frequent birth of the property market bubble will be thrown up, should be vigilant. House prices, land prices pushed up over the past six months, Chen Tin-wei continuous "eat" into six houses, good luck, six houses now turn a change hands can earn 1 million yuan. Chen Tin-wei, who has been in the property market for nearly eight years, has rarely "eaten" so many, he said: "This year is not the same as the relaxed credit and low interest policy environment, coupled with the developers to digest the small environment of inventory selling, this is a rare opportunity." Chen Tin-wei told reporters to a set of the beginning of this year, "eat" into the 100 square meters of commercial housing calculation, the opening price of 5000 yuan per square meter, the total sum of 500,000 yuan, loans 80%. At the end of June, the average price of the house rose to 7000 yuan, and the house was "sold" to itself by a mortgage, and another 80%, minus the various taxes and charges in the course of the transaction, earning a difference of 170,000 or 180,000 yuan from the bank. "The first half of the year, many people do so, the intermediary and developers are doing so."　　"he said.　　Statistics show that as the second-tier city of Fuzhou May new commercial housing price breakthrough per square meter of 8000 yuan "line of defense", into the July, its rising momentum remains ferocious. The momentum of house prices is no sign of "braking" in the first-tier city of Beijing.　　Statistics show that since June, Beijing's new commercial housing projects show a "thousand-yuan Jump" rally. The rise in house prices has stirred up the land market.　　Xiamen, Chongqing, Beijing and other cities repeatedly photographed a lot of high-priced king, the era of land price madness seems to return. June 8, Xiamen City launched eight in a breath of land, the result of eight land all smooth shot out, the average floor premium in million yuan. June 25, Poly Real estate to 3.81 billion yuan to win the Southwest land market to sell the highest price of Chongqing a block.　　June 30, the Sino-party Hing Investment Management Co., Ltd. to 4.06 billion of the sky-high price of Beijing Kwong Qu Door 15th. Xiamen and real Estate evaluation company General Manager Wangzia that the root cause of the developers to enter the land market is the property volume and the capital market double positive stimulus.　　Developers are now no longer worried about the house being sold out, and they are worried about whether there will be a house to sell next. Rigid demand is shrinking situation and housing price inflation, rigid demand is shrinking trend.　　The report shows that in June, Beijing, Shanghai, Shenzhen and other first-tier urban commodity housing turnover has been falling for several consecutive weeks, from the April high has dropped 10% to 20%, Fuzhou, Hangzhou, Xiamen and other "strong recovery" of the second-tier cities in the two quarter of commercial housing sales fell more than 10%. Zhejiang University Jiangwanling International Economic and Financial Investment Research Center, Deputy director of Jing Naiquan Analysis, the recent domestic many cities in the real estate market decline, in addition toIn addition to the price factor, the developer's new supply and inventory reduction is also an important reason.　　But the rise in house prices leads to an overdraft of purchasing power, which may result in a much lower trading volume than equilibrium;　　A new study by Morgan Stanley suggests that the growing excess liquidity around the banking system is a key driver behind China's rising house prices. Real Estate Enterprises existing three shares of funds "living water." The first is credit, according to a report by Zhongyuan property, in March of this year, Ruian real estate, Greentown China and other seven large real estate enterprises have obtained the total amount of credit to the major banks of more than 85 billion yuan, followed by the capital market, in the capital market, the additional financing increased the real estate enterprise's financial strength; Again is the pre-sale money,　　Some real estate developers with low down payment on the preferential terms, tempting a large number of investors into the market.　　Experts worry that the huge amount of credit funds diverted into the real estate industry, although it can lead to more than 10 related sectors of the recovery and development, but it is still a dangerous signal, must be wary of the housing bubble. If house prices continue to rise, many rigid demand groups may not be able to support buying homes by extending repayment deadlines. "2005 years ago, the number of mortgages purchased by individuals was generally 8 years or 10 years, and in 2006 years the mortgage age had risen to 15 to 20, and now it is generally more than 20 years and 30 is not uncommon."　　A bank personal credit manager, who declined to be named, told reporters. How long can the "good days" of the property market last May, a large number of domestic and foreign investment institutions issued reports, bullish on China's property market. A new study by Morgan Stanley shows that there is no big price bubble in the mainland property market.　　Wanguo The latest report also pointed out that the next two months will remain the policy of "vacuum period", the real estate policy austerity is not likely. Experts believe that since the end of last year, the domestic real estate market "strong recovery" and policy incentives directly related.　　Inflation expectations from quantitative easing are intensifying, according to current developers ' cost-taking land ' trends. The number of people worried about how long the "Good days" will last is increasing.　　Jing Naiquan that the current low interest rate environment, once the economic recovery is clear, inflationary pressure rises, loose monetary policy will be tightened, purchasing power will be weakened as interest rates rise, earlier, because of loan easing and low interest rates caused by the housing bubble, the risk of rupture is likely to occur. Chen Kwok-keung, director of the Real Estate Research Institute of Peking University, believes that the current real estate market "flourishing" covers a number of structural problems in the real estate industry, such as the real estate industry, how much bubble? Land recruit clap to go into the market method whether to push up the house price?　　How much proportion of affordable housing should be supplied to the market? Experts warn that maintaining market stability is the cornerstone of the long-term development of the real estate industry. The real estate industry itself faces the structural problems that need to be solved slowly in the process of development. The use of emergency easing of monetary policy, singing high prices, will make the real estate market in a slump in the unstable state, not conducive to the industry itselfStable development, also not conducive to China's economic growth itself, for homebuyers, more likely to fall into long-term risk. If house prices rise too fast, including raising the down-payment ratio for second homes, raising mortgage rates, and so on, the policy of curbing the excessive rise in house prices will again "come out".