Chapter 638: Temporarily Unable to Collapse
Devastated by the financial crisis, Japanese banks and securities companies went bankrupt in October, and the Southeast Asian financial crisis evolved into the Asian financial crisis.
The entire Asian financial market seems to be in a state of daggers and swords, even Hong Kong, which held on to one set, although the Hang Seng Index held on. But real estate is showing signs of collapse due to the impact of the financial market.
In September, Hong Kong's real estate fell for the first time in nearly three years, which made many people instantly become uneasy.
On the first day of October, when the mainland was celebrating the National Day, Hong Kong real estate fell by 20%, which almost made people who were already on tenterhooks almost have a heart attack.
Major real estate developers began to be interviewed, and banks began to be closely monitored by the government. Hong Kong citizens, who had weathered the financial crisis for a while but had not had time to cheer, suddenly felt as if they were stepping on an abyss instead of a mountain of gold and silver. This bright Dongfang Ming instantly became precarious.
Rumors that the mainland government would take over Hong Kong's real estate market, mainland companies would set up headquarters in Hong Kong, rumors that officials would force government officials to purchase real estate in Hong Kong, etc. were not exposed one after another. It was like an invisible big hand, one after another. Once again, crazy real estate speculators were pushed into the abyss.
In fact, the property market did not fall so badly at the beginning, although there were no news reports in mainland media and newspapers that the mainland would take over Hong Kong real estate.
But after all, Hong Kong withstood the international speculators' blockage of the Hong Kong dollar and became the least damaged in this financial crisis. Therefore, everyone is still optimistic about Hong Kong's economy.
But as time goes by a little bit, Hong Kong, which returned to China in July, is now in November. We still don’t see any intention from the mainland government to accept real estate.
As a result, the first group of people who were in debt and frantically speculating in real estate couldn't hold it any longer, so house prices fell sharply. But although house prices fell, they did not collapse immediately.
After all, most houses are in the hands of big capital. All capital knows that if housing prices in Hong Kong collapse, although the government and the people will have a hard time, they will also lose half their lives.
Therefore, they have never been more united and began to cooperate with the government, releasing all kinds of good news, hoping to stabilize housing prices. But this kind of stability maintenance is obviously just drinking poison to quench thirst. As long as the mainland does not send an obvious signal of taking over.
As time goes by, the people will lose patience little by little, so all the current efforts to maintain stability are just slow suicide, because the mainland cannot take the blame.
"Will it completely collapse?" In a high-end apartment in Hong Kong, Zhou Ya, who was wiping her hair after taking a shower, walked up to Yang Dongxu and asked, seeing that he was reading the latest data reports.
"It will definitely collapse, but it will not happen immediately, but will take several years. The collapse in the past few years is not as terrible as imagined." Yang Dongxu put down the statistics in his hand and said.
The strength of capital is obviously much stronger than that of the people. Because of the existence of this troublemaker, many British capitals were tied up in Hong Kong and did not leave in time, so they must try their best to stabilize the situation and prevent their assets from falling. Mountains of gold and silver become rubbish.
Moreover, it seems that the sudden 20% drop is very serious, but the house prices that have fallen now are part of the crazy speculation after 1995. For these capitals, it is not a big deal at all, and there is not much loss. It’s not a big deal. Housing prices are back to 1995.
It would take another four years, that is, after 2001, before these people would actually feel the pain of cutting their flesh. At that time, Hong Kong's housing prices, which had been falling for four consecutive years, made everyone lose hope. The capital chains of some capitals also began to collapse, and they had to sell their properties at low prices to stop losses. This led to the complete collapse of Hong Kong real estate.
So it may seem that housing prices dropped horribly in an instant, but the only losses were those speculators who later poured in crazily. For most people and capital, it just feels scary. In fact, there is not much loss.
"Then it will really break down, will you?" Zhou Ya looked at Yang Dongxu worriedly. As long as she was around Yang Dongxu, she was too lazy to think about many things. The queen instantly turned into a simple little girl, focusing all her thoughts on the man in front of her and rarely thinking about other things.
"Aren't you thinking too much?" Yang Dongxu smiled and stopped Zhou Ya to sit in his arms: "Not to mention that I am also responding to the government's call to cooperate with the stabilization of housing prices. I will not sell a set in my hand in the future. No one can make a fuss about this matter. Besides, if a matchmaker is in charge of matchmaking, how can she still control whether someone will give birth to a son after they get married? "
At first, he actually thought about whether to add fuel to the fire and let Hong Kong's real estate collapse completely now to avoid long nights and dreams. But after thinking about it confidently, he felt that it would be better to let time settle slowly.
After all, Hong Kong just returned to the motherland this year, and the first year has not yet ended. The real estate industry has completely collapsed and people are everywhere. This is not something that is acceptable to either the current SAR government or the mainland government. When the time comes, we might have to pick out his thorny head and give it a beating.
So let’s just keep it at a stalemate for now, giving everyone a little more time to relax. Now that he has made a lot of money in the international financial market, he no longer has financial pressure. The money now invested in Hong Kong real estate is regarded as a long-term investment.
Anyway, even if Hong Kong real estate continues to fall for six or seven years, it will always rise in the future. And it will rise even crazier than now. This is a high-yield investment that is guaranteed to make money and there is no need to rush. He even thought about whether to buy at the bottom when Hong Kong real estate hits a low point in a few years and see if Yang Bancheng can become Yang Quancheng.
"When will this financial crisis end?" Zhou Ya adjusted her body to make herself more comfortable in Yang Dongxu's arms.
"I'm not sure about the details. Let's see what international capital thinks. They have blocked the Hong Kong dollar twice, so it's not surprising to do it a third time. Even if they see that Hong Kong is not going to work, they may turn the fire to other countries again and cut a wave of leeks to make up for their losses."
Yang Dongxu only remembered this financial crisis, and he really didn't know how long it lasted. However, it seems that international capital that has gained something in the Japanese and Korean financial markets has no intention of calling it a day.
After all, although international capital comes for money, no one would believe you if you say he has no political purpose. Otherwise, on the first day of Hong Kong's return, the Thai baht collapsed on the second day, and then a financial crisis that swept across Asia began. Even if God was resurrected, he couldn't arrange such a coincidence, right?
So whether this financial crisis ends depends on whether those giant crocodiles hiding in the deep water will want to come for the third time, or the fourth time, or more times after failing to bite off the hard bone of Hong Kong, the main target, twice.
If they give up, then this matter is officially over, and the next is just some aftermath. If they insist on not giving up, then this financial crisis will continue until the end of time.