There was a real estate bubble in China in 1993, which occurred in China's Beihai and Hainan. There is a street in Beihai called Yazai Village. The village has only one street, but there are thousands of real estate companies

There was a real estate bubble in China in 1993, which occurred in China's Beihai and Hainan.

There is a street in Beihai called Yazai Village. The village is just one street away, but there are thousands of real estate companies clustered here. The streets are all two-story small buildings, upstairs people live, downstairs is the tea house, every table in the tea house, there are real estate companies listed there, such as so-and-so company, the company's people are sitting there drinking tea.

At this time, a person came in with two sacks of money, and the money at that time was packed in sacks, and everyone knew how much a sack was. A person from a certain company walked up with a drawing and said, "Boss, look at this piece of land, how good the position is, how can it be increased by two or three times in your hand." They talked for about 10 minutes, and the new person who came in handed over the money, sat down with the drawings, and shouted, "Put on a pot of tea." After a while, a man with three sacks of money walked in, and this man went up with the drawing and said, "Look at how good this land is, it will be two or three times higher in your hands." "After talking for about 10 minutes, it was closed again.

The real estate in Beihai was speculated on the drawings, speculating 6 times the built-up area of the city. The land on land is not enough to speculate, so people build a piece of land at sea to continue speculation. #Macroeconomics # #经济故事 #