Bank credit is to promote a major source of rapid

From the national real estate market situation, housing prices are basically the bank is closely related to financial support, especially in the short term prices quickly soared, banks are basically the result of financial support. First look at Japan, 1985 The loose monetary policy, will inevitably lead to a sharp increase in money supply, liquidity flood. When a large number of the flow of liquidity is not the real economy,Police detected 10 years for the couple murder of, but the flow of the real estate market and the Japanese stock market, especially into the real estate market, the rapid expansion of the Japanese asset prices. From 1987 onwards, in less than 5 years, the rising value of the land several times, not only the land value far exceeds the total value of Japan's GDP, while the equivalent of the U.S. current more than 4 times the value of land and real estate and the rapid rise in the price of the stock market.

the other hand, the housing boom has stimulated the growth of Real Estate Credit Bank of Japan. On the one hand, banks compete for market share in order to allow a large number of bank credit into the real estate market; the other hand, a large number of banks issuing mortgage loans to encourage home owners to housing speculation, and to hold as collateral once again housing to provide loans to speculate. In circles, the rapid expansion of bank housing mortgage loans, real estate, the proportion of mortgage loans 17% increase from 1984 to 1992 nearly 36%. Faced with this situation, although the Japanese government is very worried, but was worried about the policy adjustment hurt the real economy, coupled with the United States in 1987 indecision, missed a favorable adjustment of time. After 1991, with the rapid decline in the Japanese stock market index, the real estate market also showed rapid reversal. Since then, the Japanese economy entered a decade of recession.

we will look at the Southeast Asian financial crisis of 1997, it is also rapid bank credit expansion in the real estate market results. Such as Thailand, 80 in the 20th century, driven by financial liberalization, Thailand, the scale of domestic investment and rapid expansion of credit. Private sector loans, such as the proportion of GDP,christian louboutin on sale, 64% in 1992, soaring to nearly 100% in 1995, but the basic flow of these loans the real estate market and the securities market. Substantial expansion in bank credit, the big cities such as Bangkok, Thailand,NBA KHON2 Hawaii's News Leader, rapidly rising real estate prices,8 years of rural teachers funded study of 10 poor students, real estate, excess profits more to attract a large number of international assets, the interaction between the two, the real estate market bubble to inflate rapidly. Housing loans in Thailand in 1995 amounted to 145.9 billion baht by 1996 this figure exceeds 790 billion fast baht, an increase of 7 years, 5 times. At the same time,Pants ah ~ ~, real estate, land prices soared rapidly. 1992-1997 annual average land prices rose more than 40%, land prices in some places up to 14 times a year. However, this rapid expansion of lending by the banks, driven by the real estate bubble, with the Southeast Asian financial crisis of 1997 the final collapse. Can be said that such examples abound, such as Hong Kong, Taiwan and the United States have occurred.

it from a few years the domestic real estate market situation, macroeconomic regulation and control of the real estate market for years, but the more macro-control of bank credit into the real estate the more money, such as the 2006 bank credit into the real estate development funds to growth of 1-11 months 51% bank loans and deposits and housing 预售款 more than 50% share. Another example is Beijing, bank loans and deposits and housing 预售款 share of over 61%. That is, the more macro-control of real estate, bank credit into the real estate market, more money.

Also, in mid-2007 a quarter of loans increased 1.42 trillion yuan RMB, an increase of 167.8 billion yuan. While household loans increased by 332.1 billion yuan,wholesale authentic MLB baseball jerseys, an increase of 157.8 billion yuan, of which short-term loans increased by 161.3 billion yuan, medium and long term loans increased by 170.8 billion yuan. In other words, with the rapid rise in domestic prices, the bank's competitive real estate market further exacerbated the banks to compete for market share is also large numbers of bank credit flows to the real estate market. Rapid increases in domestic prices at the same time, the domestic stock market index surged rapidly, the stock market to make money effect of flooding. In this case, the domestic banks to facilitate loans to launch a number of financial instruments to encourage home owners to increase with the hands holding a mortgage or home refinancing for speculative housing transactions and to hold as collateral once again housing loans speculative. In this way, a lot of places will not only allow further rapid soaring prices, but also to a large number of bank funds into the stock market to push prices higher. Can be said that the current rapid expansion of domestic asset prices and banks are entering the capital.

Moreover, the current Chinese real estate market and the stock of the situation that occurred with Japan and other countries before the collapse of the bubble real estate market is very different. That allows the rapid expansion of bank credit to the real estate market of bank funds a high degree of aggregation, which pushed up domestic prices to rise, blowing in the domestic property market bubble. The large amount of real estate assets held by banks or mortgage on real estate assets, housing prices will increase the size of bank assets, thus improving the surface of the bank's capital adequacy, asset quality and profitability situation. This will further expand the bank credit in the property market, thus further pushing up the price of the real estate market. So the cycle, increasing real estate prices will deviate from the actual equilibrium price, the real estate market bubble continue to grow.

and large numbers of bank credit into the real estate market, not only to soaring house prices quickly, but also because the central bank has always taken a low interest rate policy and the policy spread is too large. This is also the Japanese central bank's policy is very similar. In this policy, whether it is funding the supply side or demand side has a strong motivation for large-scale credit expansion. Excessive expansion of credit spreads makes the best profit model into banks. Continued price increases in the mortgage, the bank out as long as the loans can easily profit, commercial banks will certainly do everything possible to expand bank credit operations. On the demand side, the low interest rate policy, indicating that as long as funds from the bank will be able to profit, not to mention a convenient tool to obtain funds from the bank, to obtain funds from the bank why not? But these are only short term, because when a large number of bank credit into the real estate market and the stock market, the surface is pushed up asset prices, in fact, the real estate market bubble aggregation and risk, especially in cyclical real estate development long, the real estate market bubble and the risk of accumulation is covert.

present to the Government's policy, although worried about a housing market bubble and the risk of aggregation, do not want to see rapid increases in domestic asset prices, but the government also worried that laid bare the real estate market bubble could lead to domestic large short-term economic fluctuations, making the real estate market bubble of the most effective tool has been reluctant to operate decisively, especially in low-interest rate policy, the government is not through interest rate adjustments to crack down on speculation in the real estate market , not by narrowing the spread to weaken the motivation of bank credit expansion. In this case, whether it is domestic commercial banks or the real estate market, investors will naturally do everything possible to allow continuous flow of bank credit the real estate market, investments in overheated real estate market, will not be able to curb soaring house prices quickly.

short, the current Chinese real estate market many of the phenomena, and the Japanese and other real estate market bubble collapse on the eve of the phenomenon was very similar to these phenomena, if the government can not have a clear understanding, not fear out of this hesitation,christian louboutin official online, then the asset price bubble in China will be more bigger and bigger, the risk of the real estate market have piled up, which would make the risk of facing the Chinese economy is growing. Most of these problems is the way the core of the rapid expansion of domestic bank credit.