Yanzi Valley of Jingcheng

Chapter 115 The Value of Credit

"It's difficult to buy an apartment and change hands." Guan Sha explained patiently, "Some apartments or shops are stipulated that they cannot be changed hands within a few years, and the liquidity is relatively poor."

Xiao Jie smiled after hearing this, "But according to your previous population flow theory, houses in third- and fourth-tier cities will have little liquidity in the future, and it will be more difficult to resell. Houses in first- and second-tier cities also depend on the area. If the area is not good, it is also difficult to resell. , It’s probably easy to transfer houses in school districts, but in fact, if you buy a house in a school district, you’re not willing to transfer right away, and you have to put it away for three to five years if you don’t keep it for your children to study, so the same problems exist in apartments or shops, and residential houses also exist.”

"Yes, but apart from houses in school districts, it's best not to buy those houses with poor liquidity that we discussed just now." Guan Sha was categorical.

Xiao Jie got up and went into the kitchen to wash his coffee cup, "You didn't actually answer why I must buy a house instead of an apartment."

"There is no community in the apartment, and there is no gas connection. It is suitable for single migrant workers who eat takeaway. It is inconvenient to settle down, and the number of households on each floor of the apartment is usually more than that of the residence. It is uncomfortable to live in and out of the elevator."

Guan Sha added here, and suddenly thought of a more professional point, "Oh, by the way, buying an apartment will pay more taxes and fees than buying a house, which is not cost-effective, and some apartments only allow 30% down payment to buy, and the loan period It’s only ten years, unlike a house where you can get a [-]% down payment loan for [-] years, so buying an apartment requires relatively high funds, and it’s all worthless.”

"You're right, but you're missing the point."

At this time Xiao Jie wiped the washed coffee cup clean and put it upside down on the white dish rack. Just as he was about to turn around, his arm touched Guan Sha.

The defenseless Xiao Jie was startled, because Guan Sha did not sit on the chair in the dining room but moved behind her.

"How did you run in?"

"What's not on point?" Guan Sha questioned.

Xiao Jie looked Guan Sha up and down, "Are you a cat? There is no sound when you walk..."

"I asked you why I didn't get to the point?!" Guan Sha amplified her volume, "When you go to someone else to buy a house, all agents will tell you that."

"Well, so your company, including your real estate investment group, is no different from other real estate agencies in my eyes. The only difference is that whether others buy a house in the end is not directly linked to your income, but the agency can't tell you. You may not be able to explain the clear content, such as why you must buy a house instead of an apartment, the reasons you just did not convince me."

"I……"

Xiao Jie was amused when he saw Guan Sha wanted to refute but was at a loss for words, wanted to get angry but didn't dare to get angry.

"First of all, even if it is a house with good liquidity in the first- and second-tier cities you mentioned, it is difficult to obtain a substantial increase in value if you don't hold it for three to five years. Not every year is like 2015, and the prices collectively soared all at once. If I remember That’s right, after 2015 several big cities, including Qingyang, have been sideways for several years.”

Xiao Jie looked at Guan Sha seriously, "Since you have to wait so long to make a profit when buying a house, why do you still care about the rule that the store cannot be resold for five years? In addition to the high down payment ratio and short loan period you mentioned, this Nor can it be a reason not to buy an apartment, because there are a lot of rich people in this era. For this group of people, as long as one thing has enough future growth potential, pay more down payment and less payment, or even pay more taxes What does it have to do with fees? Anyway, the future appreciation of the house will make up for it.”

"Uh..." Guan Sha was completely self-confident just now, but when Xiao Jie asked her this question, her mind was already messed up.

"Also you said that the apartment has a lot of people, there are many households on the first floor, there is no gas supply, and it is not suitable for self-occupation, but for example, people like me buy apartments for pure investment, not for self-occupation at all. I believe you are now in the group Those members, including your future members, should have many people with my economic conditions, can you still use the reasons just now to tell them not to buy an apartment?"

Guan Sha swallowed her saliva, her eyes began to look elsewhere unconsciously.

She was desperately trying to refute Xiao Jie's point of view, but she couldn't think of any of them.

These reasons that everyone in the real estate market is talking about not buying an apartment, how come Xiao Jie doesn't hold any of them?

"You set up this real estate investment group based on the fact that assets like houses have financial attributes and investment value, right?" Xiao Jie began to inspire Guan Sha.

"Yes." Guan Sha replied.

"Well, you know that a house has financial attributes and investment value, so if you can think a little deeper and think about what determines the value of an asset with financial attributes, you will find the answer."

"Ah?" Guan Sha became more and more confused the more she heard.

Xiao Jie was calm and composed. He seemed to have known that Guan Sha would have difficulty understanding, so he said patiently, "When evaluating the value of an asset with a financial attribute, it is often its credit value, that is, you can use this asset. How much money is realized in the short term, and assets with high credit value will bring you more cash in the short term.”

"Oh... I can understand that."

Seeing Guan Sha nodding her head, Xiao Jie continued, "So back to the issue of apartments and houses, the underlying reason why apartments are not favored by the market is actually that apartments have less credit value than houses.

For example, if you take an apartment and a house in the same area and the same area to a bank for mortgage, the house will always be able to mortgage more money, because in the bank's credit evaluation system, the house can often get a higher valuation. "

Seeing that Guan Sha didn't seem to understand, Xiao Jie further explained, "Most people need to go to the bank for a loan to buy a house, but the market price of this house is not the basis for the bank to finally give you a loan. How much money is based on its own set of independent evaluation systems.

For example, a house with a price tag of 1000 million on the market may only be worth 800 million in the bank's valuation system, so the bank will decide how much to loan you based on the total price of 800 million.

According to the current inflation rate, you can borrow as much as you can from the bank. As long as the value of the house continues to increase, and the appreciation rate exceeds your loan interest rate plus the inflation rate, the more funds you can leverage the bank, the better. The more you make the more money you make.

It's just that under the same conditions, the house can allow the bank to lend you more money. "

Hearing this, Guan Sha suddenly realized, "So is it because of this that a house is more valuable than an apartment? Because it has greater credit value than an apartment."

"Well." Xiao Jie nodded, "Since you plan to do this business, you must learn to look at the investment value of real estate from the perspective of top-level financial assets. In fact, it is not just real estate. It can be said that any financial asset with low credit attributes is not It's a good asset."

"So it's like this..." Guan Sha began to infer other things from one instance, "So not only apartments, but also shops and office buildings are not comparable to residential buildings..."

"Yes, shops and office buildings are not even comparable to apartments. Apartments can at least be rented out and have a fixed rental rate of return. Rents in first- and second-tier cities will only increase in the future. Therefore, even though buying an apartment has poor credit value, it is difficult to resell it. , It is still possible to treat it as a fixed-income wealth management product, but you should understand the current vacancy rate of shops and office buildings without me telling you that it is very difficult to rent.

In the past, as long as the location of the store was good, there would be a flow of people. Now everyone, whether watching advertisements or shopping, is basically online. Most of the store’s customer flow has been diverted. "

"No wonder the real estate experts said that in the past, three generations were raised in one shop, but now three generations are raised in one shop..." Guan Sha was thoughtful, and suddenly, she remembered what she was here for tonight, so she explained it to Xiao Jie in a rather embarrassing manner She made her request: she needs money.

Guan Sha naturally explained to Xiao Jie the various reasons why she needed money.

In the end, she prayed, "Now that the company has a shape and customers, it's time to expand. I will definitely be able to do well this time."

Guan Sha originally thought that Xiao Jie would be willing to chat with her until late into the night, and Xiao Jie would most likely agree to the financing matter. Who would have thought that Xiao Jie would actually say, "I'm sorry, I will not invest in your project at this stage."

"Why?!" Guan Sha was astonished.

"As the founder, your level of professional knowledge is not even higher than mine, and it would be better to vote for me than to vote for you," Xiao Jie said.

Guan Sha: "..."

(End of this chapter)