At the end of this spring, the hustle and bustle of the May Day holiday does not seem to have brought the expected boom to China's real estate market. According to an in-depth survey by Reuters, in the vast land of China, among 22 prosperous cities, during the five-day May Day holiday, the sales of new homes are like leaves attacked by the cold wind, withering one after another. Sales are down a staggering 47% compared to the same period last year, and by 30% compared to that once-glorious moment in 2019. This cold number, like a heavy hammer, mercilessly beats the heart of everyone who cares about the fate of China's economy.
Of these 22 cities, 19 have seen a year-on-year decline in new home sales. This is not just a simple numbers game, it reflects the profound changes in China's real estate market and the expectations and disappointments of countless families. In the two international metropolises of Guangzhou and Shanghai, sales during the May Day holiday fell by more than 60% year-on-year. This can't help but remind people of the ancient poem: "The buildings and pavilions are still there today, but the faces have changed." "The prosperity and bustle of the past seemed to have become deserted and lonely overnight.
The overshoot of the real estate market, like a sudden storm, swept through the entire Chinese economy. It has not only slowed down the pace of economic growth, but also put unprecedented pressure on countless businesses and households. In this storm, many businesses are faced with the choice of life and death, while many more families are burdened with a small dream. Local government revenues have also been hit hard by the storm, adding to an already stretched fiscal situation.
However, it is important to understand that China is not going to repeat Japan's real estate crisis of the 90s. Because we have a huge space for urbanization and huge domestic demand potential. This is an era full of opportunities, but also an era of challenges. We need to get the real estate market back to normal as soon as possible, so that every family can have a warm and safe home.
In the midst of this storm, we have seen many moving images. Those construction workers who stick to the construction site, they use their sweat and hard work to contribute their own strength to the construction of the city. Those real estate agents who are working on the front line of sales, they use their professional knowledge and enthusiasm to provide customers with the best quality home buying experience. They are the backbone of the city and the heroes of their time.
However, we cannot ignore those who have been injured in this storm. They may have lost their wealth because of falling house prices, or they may have fallen into trouble because of their unemployment. They need our attention and help, and they need us to warm them with a kind heart. In this era, everyone is indispensable, and everyone should be respected and cared for.
We need to take practical and effective measures to promote the healthy development of the real estate market. First of all, we need to strengthen the regulation and regulation of the real estate market to avoid market bubbles caused by overinvestment and speculation. Second, we need to step up support for the rental market to provide more options for those who can't afford to buy a home. At the same time, we also need to promote the diversification of the real estate market, so that more people can enjoy the dividends brought by the real estate market.
Governments, businesses, and individuals all have their part to play in this process. The government needs to formulate more scientific and reasonable policies to guide the healthy development of the real estate market; Enterprises need to actively fulfill their social responsibilities and contribute to the prosperity and stability of society; Individuals need to establish correct consumption concepts and values, and rationally look at the development of the real estate market.
When we look back on this history, we will see that it was a time of great challenges and opportunities. In this era, we have witnessed the ups and downs and changes of the real estate market, as well as the struggle and dedication of countless people. This is a time of stories, but also of hope.
So, will we be able to seize the opportunities of this era? Will we be able to get the real estate market back to normal? Can we make every family a warm and safe home? There may not be a clear answer to these questions, but they are worth pondering and exploring.
Let's work together to meet this era full of challenges and opportunities!