刺激购房之后，为啥房价还是起不来？2026年，会有哪些新方案出现？不妨了解下

Market Overview - The real estate market in China is experiencing a significant downturn, with new residential prices in 70 major cities decreasing by 0.45% and second-hand home prices dropping by 0.66%, marking the largest declines of the year [3] - Despite various stimulus policies implemented by the government, including mortgage subsidies and tax rebates, the transaction volume has decreased by 28.1% compared to the same period last year, reaching the lowest level since 2017 [3][5] Underlying Issues - The core issue affecting the market is a lack of confidence among buyers, rather than just pricing. Even with reduced mortgage costs and tax incentives, buyers are hesitant to enter the market due to fears that prices have not yet bottomed out [7] - The real estate sector, which previously served as a key driver of the economy, is now facing a "housing winter," leading to a broader wealth contraction effect that suppresses consumer demand [7] Policy Challenges - Traditional policy tools appear to be ineffective in addressing the current market challenges, as they inadvertently harm genuine housing demand while attempting to curb speculation [11] - The market is showing signs of significant differentiation, with some areas experiencing price increases while others see declines, complicating the implementation of uniform macroeconomic policies [11] Future Outlook - By 2026, the approach to real estate policy may shift from merely stimulating demand to more comprehensive solutions, including restrictions on institutional investors and increased housing supply [13][15] - New financing models are emerging to address affordability challenges, indicating a potential shift in focus towards sustainable housing solutions [15] Buyer Strategies - In the evolving market landscape, buyers are advised to adopt new strategies, focusing on local market trends and being flexible in their long-term planning [17] - The concept of housing may need to transition from an investment vehicle to a primary residence, emphasizing its role as a home rather than merely an asset [17]