The property market crashed faster than Li Guangyu imagined. In less than two months, the average price of the property market in Xiangjiang plummeted by one-third, and the main force driving this price collapse was the middle class in Xiangjiang.
This group of people has a certain amount of savings and good abilities. They are not worried about finding a good job in other areas. Therefore, after the September incident, they can’t wait to leave Xiangjiang and go to their hometown.
A place that I consider to be relatively safe.
The houses in the hands of these people have begun to be sold off, and in the era of real estate speculation in Hong Kong in recent years, these middle class people have more than just one house in their hands. They also regard buying houses as investments. Some families have two houses or even one house.
Three suites.
At this time, in order to sell the house as quickly as possible, they offered to sell it at a price much lower than the market price.
When it's hard to sell, they may even sell it at the price they paid for it, as long as they don't make a loss.
From 1978 to now, housing prices in Xiangjiang have more than tripled in just a few years. For those who bought earlier, the price at that time may have been half of the peak, or even lower than this. Even if they reduce the price by three times now
First, many people still make money.
The most difficult situation at this time is for those real estate speculators who bought houses at the peak of their popularity and developers who acquired land at high prices.
Many real estate speculators face high housing prices. In order to be able to buy more properties, they often take out bank loans for real estate speculation. Through continuous mortgage loans, they have more and more properties in their hands.
The continuous rise in housing prices in Xiangjiang in recent years has given them great confidence, allowing them to firmly believe that even if they borrow money from banks, the rapid rise in housing prices will enable them to make huge profits.
But in just less than two months, these real estate speculators who had taken over the high-end transactions felt that the sky was falling. The property market prices dropped by one-third, leaving them with no extra funds to fill the hole in the bank.
, and the properties they mortgaged are also facing repossession by the bank.
Not only the houses they speculated were built into it, but also the houses and cars they lived in were built into them. At this time, they felt infinite regret in their hearts, but it was a pity that it was no longer helpful.
The real estate companies that acquired land at high prices are even worse, especially some small companies. Most of them rely on bank loans to support themselves. At this time, housing prices suddenly plummeted by one-third. Their company funds will face huge risks. Some
The company will become insolvent.
This time, both Chen Zengxi and Luo Yingshi are facing severe challenges. Only they themselves know what kind of difficulties their own group is facing. If they do not perform properly, the family business they have built over the years will decline.
At this time, Hang Lung Group can no longer resist. If the funds are not withdrawn as soon as possible, Hang Lung Group is likely to suffer a thunderstorm. At present, the Xiangjiang Monetary Authority has supervised the major banks in Hong Kong. Hang Lung Group just wants to get money from Hang Lung Bank.
It’s not easy to work out even if you think about it.
In Chen Zengxi's study, Chen Qizong saw his father's tired look and understood the huge difficulties currently facing his family.
He said, "Dad, the current property market collapse is unstoppable. It is no longer possible for us to maintain housing prices. At this time, we need to take action first and raise funds at low prices to relieve the crisis we are currently facing."
Chen Zengxi naturally understood the current situation and asked him to sell the property at a low price. He was full of resignation.
He knows that housing prices in Xiangjiang will definitely rise in the future, and the Li Group is sharpening its knives and waiting for the property market to hit bottom so that they can enter the bargain hunt.
It’s just that if Hang Lung Group doesn’t dispose of the properties in its hands at low prices in order to collect funds, it’s afraid that Hang Lung Group will be finished before the property market picks up again.
Chen Zengxi said, "I will visit Zheng Yutong later and hope that their Xiangjiang China Investment Company can take over the property development project at Xiangjiang Metro Station. In this way, we can also avoid more losses."
Chen Qizong doesn't have much hope for his father's trip than you do. The Li Group and the real estate group of its interest groups have raised a large amount of funds and are just waiting for the property market to collapse and bottom out. That's when they will take action.
.
The current price is obviously not what they expected. Several major real estate groups have not made the slightest move.
At this time, Xiangjiang China Investment Company will definitely not take over this project, even if Zheng Yutong New World Development Company has shares in it.
Although Zheng Yutong is in charge of Xiangjiang China Investment Company, when it comes to large-scale investments, internal discussions are still needed, and Li Guangyu's opinions are the most important.
The relationship between the Chen family and Li Guangyu is good or bad. At this time, it is somewhat impossible for the Li Group to risk their own losses to pull their group out of the quagmire.
He believed that his father should be aware of the situation, but he was still unwilling to give up even if there was a slight chance.
Li Guangyu is in a very good mood now. After discussing with Zhou Liang Shuyi, Li Guangyu went home and did not work in the company in the afternoon. Gan Qin also took half a day off.
Since she was in Pengcheng on Saturday and Sunday, Gan Qin didn't have a day off last week. Today was just a half-day holiday for her, and Li Guangyu also went home to spend time with a few little ones.
Cao Weiqing has been working harder than before for more than a month. After all, she now has to take care of the twins and Li Songtao. Even with the help of He's mother and the maid, she still feels very tired.
Seeing that Li Guangyu returned from the company early today to spend time with himself and his baby, Cao Weiqing was very happy.
After having a younger sister and a younger brother, Li Songtao felt that his mother didn't love him as much as before. Now that Li Guangyu could come back to play with him, Li Songtao was extremely happy.
After seeing Li Guangyu, he immediately ran towards Li Guangyu, shouting "Daddy, Daddy."
Li Guangyu knelt down and stretched out his hands. Li Songtao immediately ran in and put his arms around Li Guangyu's neck.
Li Guangyu picked up Li Songtao and asked, "Have you listened to mommy at home?"
"Be obedient, I am obedient, but mommy has taken care of my sister and brother."
"My sister and brother are still young, so mommy naturally has to take more care of them. You can also help mommy take care of them."
After listening to Li Guangyu's words, Li Songtao felt even more aggrieved. His mother didn't take care of him as before, and his father still had to take care of his younger sister and younger brother. They just loved to cry and would sleep after him, so he didn't play with them.
Li Songtao said, "Daddy, I gave them toys, but they couldn't hold them. How can I take care of them? They are not well-behaved at all, they love to cry, and they don't obey me at all."
Li Guangyu also knew that Cao Weiqing now had to take care of three children, plus the twins were only more than a month old, and Li Songtao was now more than two years old, so he didn't take care of him as much as he did when Li Songtao was alone.
This contrast made Li Songtao feel a little unhappy.
Li Guangyu hugged Li Songtao and told him about Cao Weiqing's hard work, and that now that he has a younger sister and younger brother, Cao Weiqing cannot only take care of him.
After listening to his father talking for so long, Li Songtao put down his unhappiness and said to Li Guangyu, "Dad, mommy has worked so hard. I will help mommy look after my sister and brother in the future. After they feel better, I will
Take them to play games and give them toys. I have a lot of toys in the room. They will definitely like them."
Li Guangyu smiled and said, "Song Tao is so good. You have to remember that you have to take good care of your sister and brother at all times. You are their brother and this is your responsibility."
Li Songtao didn't understand what Li Guangyu said about responsibility at this time, nor did he understand what responsibility was. After Li Guangyu finished speaking, he just responded repeatedly that he remembered it.