In 2024, 3 trends suggest that it may be easier to buy a house just now
According to statistics, the urbanization rate of the mainland has jumped to 66.16% in 2023. Over the past decade, more than 200 million people from rural areas have poured into cities, not only yearning for a new way of life, but also with a deep attachment to home. Renting a house may have been an expedient measure when they first arrived, but with the passage of time, having a warm home has gradually become their common dream, and buying a house has become their goal.
Since ancient times, the house has carried the meaning of home, it is a haven for the soul, much more than a simple residential function. In modern society, the house is endowed with multiple attributes, and it has become an ideal investment in the eyes of many people, a pursuit and yearning for a better life.
Over the past 20 years, housing prices have continued to grow in mainland China, and houses have become more and more important in people's hearts. This love and dedication to housing makes many people choose to buy a house desperately, even if they need to bear heavy mortgage pressure. Buying a house and when to buy a house has become the focus of heated discussions, as if it has become a national topic in modern life. However, this enthusiasm for houses has also further pushed house prices up until they reach a relatively high point.
According to the latest statistics, as of December 2023, the average house price in mainland China has approached the 10,000 yuan mark, as high as 9,600 yuan per square meter. Although housing prices have been adjusted in the past two years, housing prices in many first- and second-tier hot cities are still standing firmly above 10,000 yuan, and housing prices in some cities have soared to 60,000 yuan per square meter like a rocket. This is undoubtedly good news for those who have already bought a home, but for those who have not yet bought a home, the pressure to buy a house is becoming more and more like a boulder.
Today, most buyers who are just looking for a home have to choose a down payment mortgage that can even take the savings of six families. After buying a house, they will have to bear the burden of mortgage pressure for decades, which will undoubtedly make their lives worse, and buying a house will become a heavy burden for their lives for the next few decades. Therefore, whether they buy a house or not, many young people feel a huge pressure in life, and the root of all this is the high price of housing.
With the increasing prominence of the problem of high housing prices, its impact on people's lives has become more and more obvious as predicted by Dong Mingzhu. House, the cornerstone of life, has now become a heavy burden on the shoulders of many people. Many college students who have just stepped out of campus have rushed into the ocean of work in order to have their own world as soon as possible, and even gave up the opportunity to continue their studies. And those young people who devote themselves to scientific research, despite their dreams and enthusiasm, often find it difficult to bear the weight of buying a house because of the meager salary at the beginning of the career.
In this situation, many people frequently change jobs in pursuit of higher salaries, which undoubtedly affects their life trajectory to a certain extent. In this regard, Dong Mingzhu, chairman of Gree Electric Appliances, once profoundly pointed out: "The pressure of high housing prices makes it difficult for people to work with peace of mind, and they are worried about houses and mortgages every day. ”
In order to solve the housing problem of employees and allow them to devote themselves to their work, Dong Mingzhu decided to build dormitories for employees. These dormitories are initially provided to employees for free or rented out, and are given away free of charge when certain conditions are met. This initiative is undoubtedly the envy of many people, and it also shows that Gree Electric attaches great importance to employee welfare. However, we must admit that not all companies can be as generous as Gree Electric, so the issue of high housing prices is still a big problem for young people.
Dong Mingzhu's view on the current housing prices is: "The current housing prices are ridiculously high, and most people can no longer afford them. As a result, house prices have lost the basis for continuing to rise. And the facts seem to confirm her prediction. In the past two years, the trend of housing prices has gradually stabilized, and even in September 2021, the national housing prices ushered in the first decline in 77 months. This trend shows that the crazy rise in house prices has gradually stopped, and in the context of continuous bailouts in various places in 2022-2023, house prices are still falling and falling.
In today's property market, the three major trends have been determined, and those who just need to buy a house are blessed
1. The regulatory policy is relaxed, and the trend of housing prices is mainly stable
Since the second half of 2021, the property market has gradually entered a cold winter, and the transaction volume has declined significantly, which undoubtedly poses a severe challenge to the healthy and stable development of the property market. In response to this situation, from October 2021 to February 2024, various localities have adjusted their property market policies, continuously relaxed regulatory measures, and introduced a series of rescue policies. With the passage of time, the rescue efforts have continued to increase.
These adjustments show the high degree of flexibility and precision of the current property market control strategy. The original intention of the regulation is not to suppress or push up housing prices, but to strive to achieve the stability of housing prices and lay the cornerstone for the steady development of the property market. Only in a stable property market environment can the real estate industry continue to develop healthily. As for the problem of high housing prices, it is believed that under the guidance of policies and the joint action of the market, housing prices will gradually return to a reasonable level based on real supply and demand.
In other words, the property market regulation will continue to be dominated by the stabilization of the property market, and this steady housing price trend is undoubtedly good news for families with rigid housing needs, while for those who are interested in investment, it may mean greater challenges and risks.
2. People's housing price expectations have changed
In the past 2023, housing prices across the country have shown a downward trend, and price reduction promotions have become the new normal of the property market. Once upon a time, the expectation of rising house prices was deeply ingrained in people's minds, and developers went to great lengths to hide the fact that house prices were falling. However, time has passed, and now not only developers have launched discount promotions, but many local governments have also actively encouraged developers to sell at lower prices. Under the influence of this wave of price cuts, house prices have fallen significantly, and people's expectations of house prices have also changed fundamentally.
The psychology of "buying up, not buying down" is deeply ingrained in people's hearts, but as housing prices continue to fall, more and more people are beginning to be bearish on the property market. Not only have investors withdrawn from the real estate market, but even many buyers who just need to buy a home have begun to take a wait-and-see attitude. Under the influence of this sentiment, even those who have been bullish on house prices for a long time will gradually lose confidence and eventually join the ranks of bearish house prices.
3. The demand for housing is decreasing
Whether it's a wait-and-see or a positive action, there is no escaping the fact that the mainland's housing demand is quietly weakening. Statistics show that as many as 96.86% of urban households in mainland China already own a house, which undoubtedly proves that most families have fulfilled their housing dreams. What is even more surprising is that the average urban household owns more than 1.5 houses, a figure that reveals the relative surplus of housing resources on the mainland, and there is no shortage of housing on the market. Although urbanization is still progressing steadily, the urbanization rate of the mainland has reached 66.16% in 2023, indicating that the level of urbanization in the mainland has been relatively high, and the pace of urbanization is gradually slowing down.
Housing is essentially to meet people's housing needs. However, the current property market is facing a major challenge: the number of home buyers is decreasing, and the demand for housing is decreasing. This is not only because of the decrease in the number of new people in the mainland every year, but also because the number of people who just need to buy a house will show a downward trend in the next 10 years. Statistics tell us that the number of post-00s and post-10s is 103 million fewer than that of post-80s and post-90s. Moreover, most of the post-00s and post-10s are only children, and their demand for housing is relatively low. Therefore, with the passage of time, when the post-00s and post-10s gradually become the main force in the housing market, people's demand for housing will further decrease, which will undoubtedly have a profound impact on the property market.
Summary: Looking at the essence through the phenomenon, it is not difficult to find that both the regulation and control of macro policies and the supply and demand relationship of the micro market are quietly changing. The combination of these factors has made it difficult to provide strong support for the continued rise in housing prices. Therefore, we have reason to believe that in the context of the market in 2024, the trend of housing prices will stabilize and gradually return to a more reasonable level in the stabilization. This is undoubtedly a blessing for the majority of buyers who just need to buy a house. Today's house price trend provides them with a rare window to buy a house, they no longer need to worry about the price of housing will rise by leaps and bounds as in the past, and at the same time, the cost of buying a house is also at a historic low, which undoubtedly gives buyers who just need to buy a home more choice and greater motivation to buy a house.