房屋明明已经过剩，开发商为何还在建房？温铁军一语道破真相

Group 1 - The core issue in the Chinese real estate market is the significant oversupply of housing, with 600 million existing homes that could accommodate 6 billion people, while new constructions continue to add at least 14 million units annually [1][9] - Developers are trapped in a debt cycle, compelled to continue building to secure loans from banks, as their sales performance declines and they face liquidity crises [3][4] - Local governments encourage developers to acquire land and build homes due to their reliance on land finance, which directly impacts public spending and local GDP growth [6][4] Group 2 - There is a strong investment demand in the real estate market, with many individuals treating property as a speculative asset rather than for personal use, driven by low bank interest rates and rising living costs [7][4] - The investment nature of the real estate market complicates the supply-demand relationship, necessitating measures like property taxes to curb speculative buying and stabilize the market [7][9] - The current state of the real estate market reflects a disconnect between actual housing needs and investment-driven supply, highlighting the need for structural changes to promote healthy market development [9]