Chapter 933 Chaos

On August 1st, MTV, a TV station invested and established by NBC, American Express Financial Company and Kirin Group, started its first broadcast with great expectations.

In the United States, the opening of a TV channel and the decline of a TV channel are all too common.

The broadcast of MTV was only relatively anticipated in the music circle at the beginning. As for other ordinary people, they may not understand what it is.

Only Yin Jun knew that with the advent of the era of national entertainment, the growth of superstars like Michael Jackson, and the flourishing music scene in the United States in the 1980s, MTV would steadily move towards the top.

He even agreed to let Teresa Teng shoot a MV, and when the album is released, it will be broadcast on MTV.

Nowadays, the Queen Sister is regarded as a first-class singer all over the world. People no longer regard her as a "singer from the mysterious East", but as "Teresa Deng".

Movies and TV series are doing very well in the United States, so Yin Jun is naturally very happy.

But today's Xiangjiang is filled with a sense of depression that a storm is coming.

As the government severely punished financial companies in July and ordered 88 companies to be closed down or reorganized, the banking industry, which had already expressed its stance, learned that the government's determination was not limited to this.

Therefore, on August 1, HSBC announced for the second time within 30 days that it would raise the lending threshold again, and in the remaining five months of this year, it would tighten the amount of lending and become conservative. .

HSBC is relatively generous, but the remaining banks are even more stringent.

Standard Chartered Bank and China National Bank announced that when accepting real estate mortgage loans, the building area will not be counted, only the usable area.

The top ten banking industries, including Hang Seng Bank, Bank of East Asia, and Heung Kong Commercial Bank, announced that they can only lend up to 60% of real estate mortgage loans. They also followed the practices of HSBC, Standard Chartered, and China Banking Corporation.

Thirty years later, many people in the online political and economic development bureaus often clamor that China's real estate can be stopped by only two problems, one of which is bank control of mortgage loans.

But at that time, there had been too many repeated increases in mortgage loans, cancellation of preferential interest rates...lowering of mortgage loan thresholds, restoration of 15% off preferential interest rates...this was repeated over and over again, so it was a deterrent to people buying houses. , is getting smaller and smaller, and is basically useless later.

If you really want to buy a house, where can you find the money? Can I be blocked by your bank?

But now in 1981, the banks resorted to such a big weapon, which immediately gave home buyers a slap in the face.

The average salary of home buyers today is around 1,800-2,000 Hong Kong dollars. It takes half a month’s salary to buy a house with one square foot. Calculated at least 300 square feet, it would take more than ten years of savings to buy it. But at that time, I really didn’t know how long real estate prices would rise.

Therefore, the best way is to take out a loan to buy a house, which can at least keep up with the increase in real estate prices and prevent your money from devaluing too much.

It is undeniable that 30% of the houses are now controlled by real estate speculators and developers, but most of the houses are bought by consumers themselves.

Most people live there for themselves, and only a few of them have spare money to buy and invest.

it's good now.

Banks have directly tightened funds, strictly reviewed qualifications, and raised the threshold. Originally, ten people could get a loan to buy a house, but now it is only five at most, and usually there are still only three people!

The channels for ordinary people to buy houses were suddenly blocked.

You said that in the past, you could go to a finance company and get a loan at a relatively high interest rate, but now finance companies are more cautious than banks, for fear that they will be thoroughly investigated and cease operations if they make a mistake, so you still can't get the money.

If ordinary people cannot buy houses, then it will be difficult for real estate companies to sell houses.

Those who engage in real estate rarely use their own money, most of them use loans.

Loans mean high interest rates every day. At a time when no one can buy a house, if you keep the house in your hands for one more day, you will suffer more losses.

There is no other way, so real estate companies can only unite with some related or even their own financial companies to provide some short-term loans to people to help them pay down payments, or reduce their dependence on banks, etc.

However, these methods should not be carried out too big or too extreme, otherwise the Financial Secretary's supervision will be overturned.

Therefore, their approach is of little use.

Even Li Chaoren has launched a "housing interest subsidy" discount with Canadian banks. You can know how much pressure they, real estate developers, are under.

Slightly better is Henderson Land Development, which has just been listed. Li Zhaoji took a large amount of cash and a small house of 300-500 square feet. He did not need much funds, so naturally, Li Zhaoji had an even better time. Yes, as for Chinachem Group.

Chinachem Group also focuses on houses of 300-500 square feet, and its sites are not in urban areas, but in suburbs, and the prices are much cheaper.

Then Chinachem has its own financial company that can provide loans to the public... With such a one-stop service, it will naturally be more advantageous to sell more houses.

In fact, if Chinachem Group's housing quality and layout structure were not so good, and they basically did not do high-end real estate, there would be no problem for them to become one of the top three real estate companies in Hong Kong in the future.

The Hong Kong government takes this scene seriously.

Perhaps because he felt that such intensity was not enough to express what he meant, the Hong Kong government announced two major deals in August just after entering.

The first transaction was to sell the former Murray Road parking lot in Central District to the Chinese Bank for 10 Hong Kong dollars so that they could build the Chinese Bank headquarters...well, it is the classic Feng Shui building at the back. The one who slashed at the Governor's Palace with his sword.

The former site of the Murray Road parking lot was sold for around HK$1.5 billion at the beginning of this year. However, just a few months later, the Hong Kong government not only did not auction it, but also directly transferred it to the National Bank of China at a low price. , what does this mean?

It means that the Hong Kong government does not want land prices to rise too fast, and it means that the Hong Kong government has a soft attitude towards the mainland.

The second transaction was even more sensational.

The Hong Kong government announced that it had reached an agreement with the developer Weicheng Company to take back the 488 hectares of land they purchased in Tin Shui Wai at a price of HK$2.5 billion.

Who is the largest shareholder of Weicheng Company?

Derun Group!

It is the first overseas enterprise in mainland China established in the 1920s!

They bought this large piece of land in Tin Shui Wai in 1978, but it has never been developed. Now, the Xiangjiang government has taken it back all at once, and the price is only more than 30 yuan per square foot.

Talking about Tin Shui Wai, in the past few years it was definitely a remote mountainous area in a remote mountainous area.

However, after Yin Jun's continuous development in the past two years, including the establishment of bus lines, the extensive construction of Qilin Industrial Park, and the construction of Qilin Garden, Tin Shui Wai has become at least a new town similar to Yuen Long.

Real estate here has also begun to see some price increases.

I dare not say anything else. When it comes to building a house, compared to the price of Kirin Garden, which is around 500 per square foot, it will definitely be sold!

It is said that Li Chaoren proposed to build it several times, but Derun Company refused to allow it. It wanted to wait two more years for real estate to increase more before starting.

The results of it?

The Xiangjiang government finally couldn't bear it anymore. If you don't develop it, then I'll recycle it!

No matter how tough and unwilling Derun Group was, it could only be forced to agree to this buyback. A super-large project with an expected profit of more than 100 billion was ruined in one day.

Then this case once again sounded the alarm to major real estate developers in Xiangjiang.

Everyone now understands that the Xiangjiang government is sternly reminding them that if you still want to cover up your property and hoard land without building houses, then don’t blame me for being rude!

After such a month of various policies, how dare real estate developers turn a deaf ear to the Xiangjiang government’s reminder, so more than 15 real estate development companies quickly announced that their land would be developed soon. Development, new houses will be on the market next year at the latest.

Okay.

On the one hand, people want to buy a house but cannot.

On the other hand, these real estate developers are forced to build more houses.

Two contradictory facts were placed in Xiangjiang at this time in 1981.

Apart from these, New World Development Company, one of the five well-known Chinese real estate developers in Hong Kong, caused a very sensational incident.

They notified more than 200 shops in the Mei Foo Sun Estate development in Kowloon in writing, stating that they will not renew the lease with the tenants after the expiration of the 82-year lease.

The solution is either for them to move away, or for them to buy the store at the price offered by New World Development.

The price of a store, depending on the size, is basically 3.5 to 60 million. If more than 200 households buy all the stores, it will directly bring 1 billion Hong Kong dollars in cash to New World Development.

As soon as the news came out, the whole Hong Kong was shocked.

"Qilin Daily" directly used the headline of the real estate section to publish an article "Forcing people to buy shops is extremely unscrupulous and shameless", sharply criticizing New World Development's forced approach and calling them scum who took advantage of the situation.

Zheng Yutong was dumbfounded. He called Yin Jun and asked, "Can you be merciful?"

Yin Jun and Zheng Yutong have a very good relationship, but at this time, they also told Uncle Zheng very seriously that this is the newspaper's own decision, and I will not interfere with them as long as it does not violate morality and principles.

Zheng Yutong couldn't do anything about Yin Jun's answer. Firstly, he was in the wrong, and secondly, Yin Jun was willing to explain to him, which was already giving him face. Now Yin Jun has more assets than him!

None of the news media in Hong Kong supports the development of the New World.

Being scolded like this, Zheng Yutong could only keep his face in his pocket and continue to let his subordinates promote this matter.

In fact, anyone with a discerning eye knows that Zheng Yutong is a little afraid of the real estate collapse, and he does not have enough cash flow to deal with the crisis.

The shops in Mei Foo Sun Village are the most valuable properties of New World Development that can be cashed out, so he must cash out no matter what.

As for whether others want to buy it, Zheng Yutong is not worried.

Because Mei Foo Sun Estate is one of the two largest real estate projects in Hong Kong, the other is Taikoo Shing.

Both properties are inhabited by the middle class of Xiangjiang, so it is easy to do business here, and the previous tenants also made a lot of money.

Now that real estate is rising again, especially good shops are so rare, they are definitely not willing to give up.

Therefore, this time of "forcing people to buy shops" is destined to succeed!