Chapter 1307 Labor Pains

Xiangjiang is a small place, so if they summarize something, they usually collect information very quickly to form statistical data.

This was the case with TV ratings before, as was the movie's box office, and with the market's response.

If something good happens, it can spread throughout Hong Kong in one day.

On the contrary, if there is any negative news, it will be known to the whole of Hong Kong in one day.

When PCCW was in trouble in his previous life, Li Chaoren called his son over and had lunch with him. In the afternoon, PCCW's stock price rose sharply.

If we moved to any other place, this would be impossible.

The market's reaction generally goes through a process of emergence, fermentation, transformation, etc. It can take three to five days or even longer.

Even now in January 1983, some statistical work on last year's economic situation quickly appeared in newspapers.

right.

Or Qilin Daily.

Even though "Qilin Daily" is a free newspaper, many of its pages are very detailed and better than many professional newspapers.

Not only its entertainment version, but also its economic and financial version is equally excellent.

Of course, such excellence is not achieved out of thin air. It is the result of Qilin Daily spending a lot of money to organize manpower and hire elites from all walks of life.

Many professors from Xiangjiang University, including senior executives of some consulting companies, will write articles for "Qilin Daily" and write some high-quality articles that are not available everywhere, so that they will read well and make people feel the power of thinking and knowledge.

It's not like those entertainment news, where you read it, enjoy it, gossip for a while, and then it's over.

Generally speaking, Hong Kong's economy in 1982 showed a cliff-like decline.

Take the stock market as an example. In the first half of the year, the stock market was still going up and down. There were fluctuations, but they were not exaggerated.

But when the gold coupon incident at Xie Liyuan Gold Shop broke out, it triggered a run on Hang Lung Bank and other banks, and triggered a thorough investigation of financial loan companies. A series of financial shocks were directly reflected in the stock market.

In that month, the stock market fell by more than 8%.

I thought this was already more serious.

Unexpectedly, at the end of September, the Iron Lady suffered such a shocking fall in Huajing. At this time, all the worries and pessimism in Xiangjiang's stock market burst out and plummeted.

By the end of December, the Hong Kong stock market index had plummeted from more than 1,000 points to more than 600 points, a total decline of more than 35%, and the market value had evaporated by more than 100 billion, setting a record in history.

I don’t know how many small and medium-sized companies have collapsed because of this, and I don’t know how many large companies have had to cut off their tails to survive and sell their good assets to seek to protect themselves.

Do you think the stock market is the worst?

wrong!

The property market is worse than that!

And it is even more miserable!

Throughout 1982, land prices in Xiangjiang generally fell by 40% to 60%. Even many high-quality lands auctioned by the government were repeatedly rejected, and no one dared to take action.

What ordinary people know is only the price of land in ordinary residential housing estates. In fact, the price of land in this area has not fallen the most at all.

The biggest declines in Xiangjiang were in industrial land and high-end residential land.

Take the mansion at No. 20 Shi Xun Road where Yin Jun lives, for example. Qiu Degen bought it for Yin Jun for 36 million.

In just a few years, the value of this manor has soared. At its peak in the middle of last year, the outside world valued the land at No. 20 Shih Hoon Road at HK$300 million, which was almost a tenfold increase!

But by the end of December, the real estate developer’s valuation of No. 20 Shih Hoon Road plummeted to HK$100 million!

This shows how scary this decline is.

The more high-end real estate, the greater the decline.

That is to say, people like Yin Jun who live by themselves don't have to worry about the rise and fall of land prices. Those who have bought a large amount of high-end residential land and want to sell it into luxurious villas and apartments are just crying in the toilet. .

Land prices have plummeted, so can property prices and office rents still remain high?

Of course not.

Therefore, in the last quarter of 1982, residential property prices continued to plummet. Even the prices of the properties of the major real estate developers that could withstand the pressure fell by about 30%. The prices of ordinary small properties were even more exaggerated. Some of them fell directly by half.

But the strange thing is.

Even after plummeting so much, people in Xiangjiang still have little enthusiasm for buying houses. Most people hold on to their money tightly and dare not make a move.

Those home buyers who started buying houses in August and September, thinking they could get a bargain, are also eager to hit the wall.

They thought they were getting a bargain, but unexpectedly they ended up buying at a premium price.

If you buy it two months later, the price of the house will drop by more than 20%-30%.

In other words, because they bought the house early, they lost money on the house and owed the bank an unknown amount of money!

Their lessons have deeply alerted those who have not yet bought a house.

Everyone is really thinking this time, what if I just bought a house and it plummeted again?

Although real estate prices are already very low now, who knows how far they can fall?

The future of Xiangjiang cannot be judged, which is the biggest fear!

This is true for self-occupied houses, and the same goes for rents for office buildings and shops.

Business in all aspects is very sluggish, so how can anyone do business with peace of mind?

Who is willing to do business when they are facing losses?

Therefore, even if homeowners and real estate companies repeatedly lower rents, they cannot stop the wave of store closures.

Even though it was bleak, there were still people laughing and laughing.

He is Zheng Yutong.

The "forced shop buying" that caused a sensation the year before last year, in which tenants were forced to buy all the more than 200 shops in Mei Foo Sun Estate in Kowloon, is still vivid in our minds.

New World Development took back more than one billion in cash in one breath, but the tenants were miserable. Not long after they bought it, they encountered such a real estate crash. The shops in their hands suddenly shrunk by 40 to 50%. You say Are they angry?

Starting in October, this group of people gathered together and ran to the door of New World Development's headquarters every two days, yelling, throwing tomatoes, rotten eggs and other big things, creating a mess.

In terms of reputation, New World Development has also dropped to the extreme.

Although they make a lot of money, this practice of forcing others to bear the pressure is still despised by many people.

But Zheng Yutong didn't care.

If he hadn't had so much money in his hands, his new world development would have been very difficult this time, so he wouldn't have been able to do so with ease and minimize risks and losses.

As a businessman, if you want to make money, how can you not get scolded?

Of course, there are very few real estate developers who are as lucky as Zheng Yutong, and most people fall into this trap.

The only difference is who is on the verge of bankruptcy and who can survive for a while.

According to data obtained by "Kilin Daily" from the Housing Department of Xiangjiang, in 1982, the total number of registered real estate contracts of various types in Xiangjiang was around 165,000, with a total amount of about 100 billion.

Compared with the data in 1981, they dropped by 13% and 20%.

Moreover, these real estate transactions usually occur in the first nine months, accounting for 95% of the total transactions. This is evident from the bleakness of the next three months.

Some time ago, some of the people who were eager to immigrate sold their houses, which was a good thing. Those who hesitated about the price and were reluctant to sell are now really crying.

It’s extremely frustrating to keep the house in hand, but I can’t sell it, and I have to rent it out cheaply.

Smaller houses are better. People without money usually choose cheap small houses to live in, so the vacancy rate is about 5%.

But houses with large areas are not so lucky, and the vacancy rate exceeds 10%!

It is not that there are no people in Xiangjiang. Even if there are so many immigrants, there are still more than 6 million people in total.

Those who swam here in the past two years and obtained their resident ID cards have now stabilized their lives and started to bring their wives and children over one after another. Therefore, the total population of Xiangjiang has not decreased much.

At least it is still more than 30% more than the 5 million people in 1978.

However, the loss of the middle class cannot be filled by simple population replenishment.

What a society needs the most is the middle class, and they are the greatest force for social stability.

Nowadays, such a hollow has suddenly appeared in Hong Kong. A large number of immigrants from the middle class have caused losses to various industries and deficiencies in all aspects.

The economic downturn is natural.

This can be regarded as a kind of labor pain, but it definitely does not hurt the muscles and bones.

Because history has proven that whenever a vacant seat becomes available in a place, as long as a period of time passes, a new group of people will fill the vacant seat, and it will never be left vacant.

This is not only the case in Xiangjiang, but also when there is a wave of immigrants in the mainland.

Now Xiangjiang is experiencing this kind of labor pain, and they don't know yet that the labor pain this time is very long, and it will take two or three years to slowly start to climb up from the bottom.

"Qilin Daily" has already asked Yin Jun for his opinion.

In the past, they still had many opinions that were different from Yin Jun's, but now everyone feels that Young Master Jun's vision is outstanding and cannot be compared with others.

Therefore, most of them are now close to Yin Jun's views on the market outlook of Xiangjiang.

For example, in three years as Yin Jun said, Hong Kong's economy will recover.

Real estate will also recover actively by then. You don’t have to worry too much. Just get through these few years.

For example, the Xiangjiang issue mentioned by Yin Jun will definitely be resolved peacefully, and there will be no such extreme situation.

They all said these things according to this tone.

From a certain perspective, the current "Kilin Daily" has become the largest chicken soup newspaper in Hong Kong.

They encourage people in Xiangjiang anytime and anywhere, telling them not to give up, but to work hard and survive the past few years.

This is also true for "Kylin TV".

Sometimes, the transmission of positive energy can give people psychological comfort and help them work hard.

Yin Jun does not expect that all people in Xiangjiang will work hard, but if most people are not pessimistic and keep working hard, then the entire social atmosphere will be like this, and it will bring positive power.

The several crises in Hong Kong in previous lives were due to the lack of this positive social atmosphere, which accumulated to create so many misunderstandings.

Of course it won't be like this in this life.

Although there are crises and sadness is still there, as long as there is hope, nothing is a problem, right?

When people are in trouble, they always have to have hope so that they can finally grit their teeth and persevere.

Once you persevere, the wind and rain will turn into rainbows, shining in the sky above people's heads!

…

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