Chapter 172: Fall or rise?
Lin Ping's family and Lin Hui returned to Pengcheng after the epidemic stabilized. The old couple planned to bring the children here in two months, just in time for Lin Huan to finish his high school entrance examination.
Lin Qiu had just returned from the grocery store when she heard a news report saying that housing prices in Pengcheng were falling. She was a little surprised: "No way?"
As far as I can remember, housing prices in Pengcheng have been skyrocketing since 2000. Even the cheapest ones cost around 20,000 to 30,000 yuan per square meter, not to mention those in good locations.
"It's because of the SARS epidemic!" Wang Xiuren sighed, "That's why Brother Adada asked me out for a drink a few days ago."
Guangdong Province is the origin of the epidemic and has been the hardest hit. The real estate market in Pengcheng has been hit hard, including the property market in Hong Kong.
"Pengcheng's housing prices have been falling since the cancellation of the policy of settling in by purchasing a house this year. Coupled with SARS, many real estate projects have already started to slash prices, and some even offer negative down payments in the hope of selling the houses."
Since Wang Xiuren had more contact with Adago, he often heard news from him, and he also watched the news every day, so he had a relatively good understanding of housing prices.
After hearing that housing prices had dropped, Lin Qiu immediately looked up newspapers from that period, looked through real estate information, and ultimately determined that housing prices in Pengcheng had plummeted.
"I didn't lie to you, did I? Now everyone is afraid of SARS, and Pengcheng is a high-incidence area. Who would be willing to buy a house here? If no one buys, the housing prices will continue to fall." Wang Xiuren touched his nose.
"Since the housing prices have fallen so much, how about we buy a few houses?" Lin Qiu said without hesitation, "There's not much interest if we keep the money in the bank anyway."
Wang Xiuren frowned and asked, "Buying a house at this time? Aren't you afraid that the house price will drop to the bottom?"
"House prices are falling now, but they will definitely go back up in the future. Don't forget, this is Pengcheng. No matter how low the house prices are, they are still much higher than those in other places." Lin Qiu is full of confidence in Pengcheng's house prices.
Wang Xiuren didn't know where her confidence came from, but countless practices in the past few years had proved that Lin Qiu's judgment had basically never been wrong.
He couldn't figure out the principle behind it and simply classified it as metaphysics.
Maybe it’s God’s kindness to Lin Qiu!
"Do you really want to buy it?" Wang Xiuren couldn't help but ask her for confirmation.
Lin Qiu nodded affirmatively.
If you don’t buy now when the housing prices are low, when will you buy?
Not only should you buy it yourself, but you should also encourage people around you to buy it.
Lin Ping and Lin Hui were the people she instigated.
Lin Ping was fine. She had long wanted to move to a three-bedroom apartment. Since the housing prices were low now, she had a lot of options to choose from. So she went back and talked to Yang Zhefeng about it, and then went to various real estate projects with her sister to look at houses.
Lin Hui was a little hesitant at first.
He also heard that housing prices in Pengcheng were falling, so he felt that buying a house at this time would be like throwing money into the water.
However, based on his observations over the past few years, he found that his elder sister seemed to have good fortune and made money no matter what she did, and he was a little worried about missing out on it.
So Lin Hui, who was in a dilemma, called home.
As soon as Zhou Mei heard that it was Lin Qiu's suggestion, she immediately decided to buy a house.
After hanging up the phone, he called Lin Qiu again and asked her to help him look at a house. He also transferred the money from home to her account in the afternoon.
Zhou Mei's decisiveness impressed Lin Qiu.
While some are bearish, others are bullish.
For example, those intermediaries who have the deepest contact with the market and are the most well-informed. When they see a high-quality property, they buy it themselves, wait for the price to go up, and then resell it to make a profit from the difference.
Another type is Lucheng people, as well as outsiders who follow in the footsteps of Lucheng people or have been educated by Lucheng people. They have a special sensitivity and preference for real estate and are the main force buying houses in Pengcheng.
The people of Lucheng took the money from high-leverage loans, traveled all over the capital and Shanghai, then began to move south and finally arrived in Pengcheng in 2003.
In June, Adage happily invited Wang Xiuren to drink because four people from Lucheng bought two buildings in Taoyuantai District 3 at one time.
After hearing this, Wang Xiuren came back and urged Lin Qiu to take action quickly on the property.
Lin Qiu also thought of the Lucheng wives' group of real estate speculators who later became famous throughout the country. Thinking of their amazing purchasing power, she stopped hesitating.
He simply closed the door of the convenience store for two days and took Lin Ping and Lin Hui to various real estate projects.
Eventually, Lin Hui and Lin Ping also planned to buy a house in Taoyuanju District 3, because they wanted their three sisters to live closer so they could take care of each other.
Since you are buying a house in Taoyuanju, you can't avoid Brother Adada no matter what.
After Adago found out, he personally led the three sisters to the sales hall.
Lin Ping chose an apartment of 106 square meters, and Lin Hui chose an apartment of 98 square meters. Adago gave them a 10% discount for Wang Xiuren's sake.
Lin Qiu didn't like the house, but he liked two adjacent shops in District 3, which together accounted for about 100 square meters.
The price of shops is generally much higher than that of houses, but it is also affected by many factors such as geographical location, business environment, and flow of people.
The location of Taoyuan Residence is still a bit remote and not very prosperous, so the price of shops is slightly higher than that of residential houses.
When Adago saw that it was Lin Qiu who wanted to buy it, he immediately made the final decision and sold it to her for 500,000, which was slightly lower than the market price.
A few days later, Wang Xiuren heard from Adage that another wave of people from Lucheng had come to Pengcheng on a special plane to buy houses. All the vacant houses and shops in Taoyuanju District 3 were sold out.
Lin Qiu patted his chest in relief. These ladies from Lucheng are so awesome!
Fortunately, Wang Xiuren learned such important news from Adago, otherwise it would be difficult to find a satisfactory house under the raids of the real estate speculation group in Lucheng.
"Hey, where do these people from Lucheng get so much liquid capital?" Wang Xiuren was curious about why these people were so rich? Buying a house is like buying vegetables.
Lin Qiu knew a little bit. "I heard that the people in Lucheng were all wealthy businessmen at the beginning. They were very rich! Besides, they bought low and sold high, and they made money from the price difference. As long as the price of a house increased by 10%, they could make a lot of money."
“What about when house prices go up?”
"Of course I'll sell it! And then use the difference to buy another house."
As a result, there are more and more houses and the price difference is increasing exponentially.
Wang Xiuren touched his head and said, "We are all human beings. How come they are so smart? They can come up with such a profitable idea."
"High returns mean high risks. They have strong financial resources and can take the risks. We have neither the capital nor the smartness, so we should just save up money and rent out a few houses!"
Lin Qiu knew that the Lucheng real estate speculation group eventually went bankrupt.
After all, the whole of China knew that Jiangnan Leather Factory closed down, and the boss Huang He ran away with his sister-in-law...
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