Professor investigates 60 Urban property market: Investing in speculative homes in the country over 80%

As an expert in business management, Rai Wei-min, a professor at a university in Beijing, found that in the classroom, more and more Mister students began to ask him about real estate problems, so from June 2007 onwards, in the national lectures, he visited more than 60 cities in more than 150 properties.　　The survey found that investment in speculative housing more than 80%.　　The number of speculators with the world as the first set of the Beijing News: Why do such a survey? Rai Wei-min: I don't specialize in real estate, I mainly study corporate strategy and macroeconomics. The students in the enterprise bosses more, lectures, they will also ask a lot of real estate problems.　　I found that many do business (Mister) More thoughts not in the enterprise, but in real estate. They often ask me whether house prices will rise or fall, and some real estate executives are cautious.　　Their biggest concern is the change in land policy and bank credit policy.　　So since June or July 2009, I've been consciously looking at real estate projects to see why they're so concerned about real estate.　　Beijing News: What is the phenomenon of real estate found? Rai Wei-min: For example, some buyers have told me some of the secrets of the house, and some "speculators" decided to buy more than one set of real estate on the same world, so the bank does not have the means to verify the system in time, so that his each set of properties are regarded as "the first housing."　　Some developers sell their own buy, yin and yang contracts and so on.　　Investment speculators Super 80% Beijing News: Which several visits, let you impress more profound?　　Rai Wei-min: In Wuhan this time, as well as Hangzhou, and the recent study in Beijing, are more typical. Wuhan sales girl said, our customers here are mainly repeat guests. I was surprised to buy a house and repeat customers.　　The sales lady said, this is mainly used as an investment, not a two, most of them are.　　Beijing News: Does this show that there are more investors in the home buyers? Rai Wei-min: Yes. Once I was in Hangzhou, a man bought two suites at a time, he said, now as long as the house is good, no matter where the house.　　He told me to buy a house from Wenzhou to Hangzhou.　　Beijing News: How much of the buyers and speculators are you contacting?　　Rai Wei-min: Of the hundreds of people I've contacted, the investment and the speculators accounted for at least 80%.　　The Beijing News: aren't they worried that house prices will fall? Rai Wei-min: I've asked questions like this, but I've found a common idea. In Hangzhou, for example, buyers believe that there are too many people who can't afford to buy a house, so he doesn't worry about falling house prices, which is a theory of supply and demand.　　Now, it is not a shortage of housing problems, and in fact, many people buy a house, it is empty there.　　I hope the government will not loosen its policy. BEIJING News: There are many investment channels, why choose Real Estate?　　Rai Wei-min: A home buyer told me that the return on Treasury bonds was too low, and one of his friends was fooled by the fund manager and he dared not go. The solution to the problem is to suppress speculators, which is right. Butis now a "blocking" method.　　The next step, as a policy, should be to consider the diversion.　　Beijing News: How to channel it? Rai Wei-min: From the perspective of investors to consider, there is no place to invest money, always need to have a channel, to broaden investment channels.　　So the government should come up with policies that allow investors to do real business.　　Beijing News: You also write in the blog, there are buyers that the more policy, the higher prices will be. Rai Wei-min: Yes.　　I was in Beijing that time, someone told me, the policy came out, he just put tax money, add to the house price inside on the line, because the house or not worry about selling.　　Beijing News: The recent state has introduced a series of policies to curb house prices, do you think this policy will encounter such a problem?　　Rai Wei-min: This policy is not just about credit, it's about the accountability of local governments, and the possible taxes, so I think some investors might get caught. But, the real estate policy does not loosen, after a period of time local government, the bank, the real estate company may have some pressure (to the government), hoped the government does not loosen the policy, can continue.