楼市凛冬已至：多套房家庭难逃的四大困局 昔日被奉为金科玉律的"炒房致富"神话，如今正像海市蜃楼般轰然崩塌。2018年，当房地产市场一片歌舞升平之际，李嘉诚就已敏锐地洞察到潜藏的危机， 并发出预警："未来五年，房价必将迎来一轮深刻的洗牌。刚需置业者尚可，但热衷炒房的投资者最好及早抽身。"彼时，沉浸在楼市狂欢中的人们，对这番 忠告嗤之以鼻，谁能料到，五年后，一语成谶。 步入2023年，国内房价开始掉头向下，跌势蔓延至一线城市。以上海为例，房价从历史高位的每平方米九万多元，一路下滑至六万多元，跌幅高达30%以 上。曾经梦想着靠炒房一夜暴富的投资者们，如今深陷楼市泥潭，面对巨额亏损，追悔莫及。早知今日，何必当初？ 面对房地产市场的深度调整，对于仅拥有一套房产的自住型家庭而言，影响或许微乎其微。然而，对于那些手握两套甚至更多房产的投资者来说，以下四大 困局恐怕难以避免： 一、 资产持续缩水：跌跌不休的房价，蚕食财富 过去三年，二三线城市房价领跌全国，而以上海、深圳为代表的一线城市，其核心区域房价尚且坚挺。然而，进入2025年后，一线城市核心区域的房价也开 始出现补跌迹象。这意味着，无论你身处二三线城市，还是坐拥一线城市 ...

ST凯文，一个做服装的，主业不怎么样，就靠手里的十四处房产，到二零二五年光租金每个月都上百 万，网友总结得也到位，上市公司赚钱就三招，炒房，拆迁，割韭菜。 企业为什么能这么干，回头看文件，二零一三年，国务院的文件里明明白白写着房产是支柱产业，市场 上一下子冒出十万家开发商，跟美国一比，多了九万家，各地限购政策都是限制个人，企业买房根本没 人管。 李嘉诚二零一八年就说过，最大的泡沫其实在企业这里，后来也应验了，当年就有三十三家上市公司卖 房保壳，到了二零二三年，这个数字翻了八倍，御银股份甩卖北京朝阳的豪宅，中通客车转手深圳湾一 号，连做电池的宁德时代也跟着抛售，二零二四年这股风更猛，赛隆药业一次性卖四十八套，四创电子 把上海陆家嘴的写字楼也卖了，连万科自己都开始清理库存，华南城欠了六百零九亿港元，最后只能清 盘收场。 谁在掏空中国楼市？囤房1.3万亿！中国最大炒房团要清仓走人？ 一说谁在掏空楼市，大家第一反应是温州大妈，是那些职业炒房客，可真要盘一盘，这波抛售潮里头， 主力军反倒是那些白天开会，晚上看财报的上市公司，去年八月，广州产权交易所就冒出个国企，一个 月挂牌三百五十五套二手房，这数字有点猛，三个月前才三 ...

Group 1 - The central bank's recent operation involved a net withdrawal of 174.5 billion yuan, with 405.8 billion yuan injected through reverse repos and 580.3 billion yuan maturing, indicating a cautious approach to liquidity management [1][3][4] - The central bank aims to maintain a stable interest rate at 1.4%, signaling a desire to avoid aggressive rate cuts or hikes, thus keeping the market in a "comfortable zone" [3][4] - The current monetary environment shows a disparity where M2 growth is at 10.2% while GDP growth is only around 5%, leading to concerns about inflation despite low CPI growth [5] Group 2 - A significant portion of the money is either idly sitting in banks or being used for speculative financial activities, with households increasing savings while businesses engage in financial arbitrage [5][6] - The central bank's actions are intended to encourage businesses to invest in productive activities rather than speculative financial maneuvers, promoting a healthier economic environment [6][9] - The impact of the central bank's operations on personal finance includes stable deposit rates, declining yields on wealth management products, and a cautious outlook on mortgage rates [6][7][8] Group 3 - The stock market is experiencing volatility, particularly affecting speculative stocks, while stable dividend-paying stocks are performing better, indicating a shift in investor sentiment towards fundamentals [8] - The bond market is reacting to the central bank's liquidity withdrawal, with rising yields leading to declining bond prices, suggesting a cautious approach for bond fund investors [8] - The central bank's strategy reflects a shift towards encouraging market self-sufficiency, reducing reliance on monetary easing, and promoting responsible financial behavior among businesses and local governments [9][10]

Core Viewpoint - The article discusses the negative consequences of speculative real estate investment in China, highlighting the plight of investors who face significant financial losses due to falling property prices and the risks associated with mortgage defaults [1][3][11]. Group 1: Investment Trends - In 2018, 58.2% of new home purchases were for investment purposes, while only 15.1% were for first-time homebuyers, indicating a significant shift towards speculative buying over the past decade [3]. - In 2008, first-time homebuyers accounted for 69.7% of purchases, with investment buyers at only 19.6%, showing a dramatic increase in speculative buying over ten years [3]. Group 2: Case Studies of Investors - A case study from 2017 describes an individual who purchased a property in Yanjiao for 3.5 million yuan, only to see its value plummet to 1.5 million yuan by 2021, resulting in a loss of over 2 million yuan [5]. - Another case involves a 35-year-old who bought a property for 4.26 million yuan in 2017, which dropped to around 2.3 million yuan, leading to a decision to default on the mortgage, resulting in additional financial burdens [7]. - A story from Chengdu highlights a buyer who invested 2.7 million yuan for a home, only to face job loss and a subsequent drop in property value to 1.6 million yuan, leading to severe financial distress [9]. Group 3: Consequences of Defaulting - Defaulting on a mortgage can lead to severe repercussions, including the property being auctioned at a low price, incurring various fees, and negatively impacting personal credit scores, which can affect family members as well [11]. - Experts suggest that lending to individuals who cannot afford homes may not be prudent, emphasizing the importance of financial capability in real estate investments [11].

Core Viewpoint - The current real estate market is experiencing a downturn, with significant price drops leading to a dilemma for property owners on whether to sell or hold their investments [1]. Group 1: Decline in Home Buyers - There has been a noticeable decrease in home buyers, with new residential property sales area dropping by 3.7% and sales revenue declining by 5.5% in the first half of the year [3]. - Several factors contribute to this decline, including changes in population structure, the exit of speculative investors, and shifts in the mindset of younger generations [3]. Group 2: Reasons for Decreased Home Buying - The population birth rate has fallen below 9 million, leading to an aging population and a surplus of housing, resulting in fewer buyers [5]. - Speculative investors have exited the market due to government policies limiting purchases and loans, combined with low property prices that offer little profit potential [7]. - Younger individuals are increasingly opting to rent rather than buy due to financial pressures and concerns over job security, as well as the rising incidence of unfinished properties [9]. Group 3: Decision-Making for Property Owners - Property owners should consider their reasons for selling; if immediate cash is needed, selling may be necessary despite potential losses [11]. - For homeowners with properties in good locations, the decision to sell may be less critical, as they may face challenges in finding suitable alternatives [11]. - Owners of multiple vacant properties, especially in less desirable locations, may benefit from selling to avoid ongoing costs such as property taxes and maintenance fees [11].