Core Insights - The real estate market is experiencing a paradox where many properties remain vacant while prices continue to rise, and developers are actively constructing new buildings [1][3][5] Group 1: Market Dynamics - The traditional economic principles of supply and demand do not adequately explain the current real estate situation, as overproduction typically leads to price reductions [3] - The perception of real estate has shifted from being merely a place to live to an investment tool, which encourages continuous purchasing despite vacancies [5] Group 2: Social Implications - The high property prices create challenges for individuals with genuine housing needs, exacerbating social inequalities and leading to significant waste of resources due to numerous vacant homes [7] - The government has recognized this issue and implemented the "housing is for living, not for speculation" policy, which has started to show results by curbing price increases and slowing down developers' land acquisition and construction activities [7]

Core Insights - The real estate market is experiencing a paradox where new residential buildings are being constructed while many remain vacant, leading to a disconnect between supply and demand [1][3] - Traditional economic principles suggest that excess supply should lead to price reductions, but this logic appears ineffective in the real estate sector [3] - The consumer psychology of "buying high, not low" influences market behavior, with many buyers viewing properties as investment tools rather than for actual living purposes [5][7] Market Dynamics - Continuous buyer interest allows developers to keep launching new projects, which in turn drives up prices despite high vacancy rates [7] - The transformation of residential properties into investment vehicles exacerbates social inequalities, making it difficult for genuine homebuyers to enter the market [7] Policy Response - The government has recognized these issues and implemented the "housing is for living, not for speculation" policy, which has effectively curbed the upward trend in housing prices [9] - Despite the challenges posed by the pandemic, this policy has led to a slowdown in land acquisition and construction by developers, as well as a decrease in speculative buying [9] - As speculative buyers withdraw from the market and developers reduce construction, the issue of vacant properties is expected to gradually improve [9]

Core Insights - The trend of homeowners choosing not to rent out their properties has been increasing, leading to a significant number of vacant homes and wasted resources [1] Group 1: Reasons for Not Renting - Many homeowners prefer to keep their properties for personal use or for their children, often investing in renovations for future living arrangements [3] - High renovation costs deter homeowners from renting out their properties, as the initial investment can be substantial compared to potential rental income [5] - Concerns about tenant quality and potential damage to the property lead homeowners to avoid renting, as negative experiences with tenants can be costly and disheartening [7]