清华大学报告：尽快出台房贷贴息政策，700亿财政补贴可撬动280万亿居民房地产资产

Core Viewpoint - The 50th Tsinghua University China and World Economy Forum emphasizes the urgent need for a mortgage interest subsidy policy to counteract the negative impact of declining housing prices and to stabilize and potentially increase home prices in the short term [1][4]. Group 1: Mortgage Interest Subsidy Policy - The ACCEPT Research Institute suggests that high mortgage interest rates are a significant deterrent for citizens in purchasing homes, despite a slight nominal decrease in rates [1][5]. - The research outlines three scenarios for interest subsidies, with the most conservative being a 1% subsidy on new mortgages, requiring a fiscal investment of 70 billion yuan in the first year based on an annual new mortgage scale of 7 trillion yuan [5]. - In an extreme scenario, maintaining a 1% subsidy on a cumulative 40 trillion yuan of existing mortgage stock would total only 400 billion yuan, indicating that such extreme conditions are unlikely [5]. Group 2: Leverage Effect of Subsidy - The analysis reveals that the leverage effect of the mortgage interest subsidy policy is significant; for instance, a 1% subsidy could mobilize approximately 280 trillion yuan of residential real estate assets with an initial fiscal input of 70 billion yuan [2][5].