今明两年，要做好资产贬值的准备？内行人建议：手握1样东西

Group 1: Real Estate Market - The Chinese real estate market is undergoing a significant adjustment, with the average price of second-hand residential properties in 100 cities dropping to 14,360 yuan per square meter as of October 2024, marking a 0.60% month-on-month decline and the 29th consecutive month of price decreases [1] - The decline in housing prices is attributed to three main factors: reduced purchasing power due to income loss from the pandemic, the disappearance of profit-making opportunities in the real estate market leading to many speculators exiting or adopting a wait-and-see approach, and a more rational approach to home buying among consumers post-pandemic [3] Group 2: Stock Market - The stock market has also faced challenges, with retail investors experiencing significant losses, averaging 41,000 yuan in 2021, 78,700 yuan in 2022, and 54,000 yuan in 2023, with expectations of continued losses in 2024 [3] - Factors hindering a long-term bull market in the stock market include high initial public offering (IPO) prices with price-to-earnings ratios generally above 30 to 40, insufficient performance growth of listed companies to support rising stock prices, and a lack of annual cash dividends from companies, leading to a focus on short-term speculation rather than long-term value investment [3] Group 3: Investment Strategy - Given the dual pressures from the real estate and stock markets, experts recommend holding cash as a strategy for asset preservation and appreciation in the coming years [4] - The current economic environment in China is characterized by deflation, with the Consumer Price Index (CPI) at only 0.3% from January to October, indicating that holding cash increases purchasing power for goods and services [6] - Holding cash is seen as a way to mitigate risks associated with unemployment and unexpected events, while owning real estate and stocks poses risks of asset depreciation and potential forced sales at discounted prices [6]