The policy is symbolic, in fact, it is profitable, and it is good in the long run, opening up capital (supply side).
Symbolically, high-level officials will not stifle real estate, nor will they introduce real estate tax soon, even within ten years. Mainly to give capital a good expectation, real estate-related industries can still invest. It is very good for the head private enterprises that are in crisis at this stage. At present, no one can take over futures, and it is fatal to continue the cash flow of enterprises without capital.
In fact, if local governments are given 20 points, local governments will have room for independent decision-making, and it is not impossible to deleverage through these spaces. When the Eight Immortals crossed the sea, they all showed their magical power. Doing things requires real money, even on paper, it is better than not giving stability. With the degree of involution in economically developed areas, whoever can make good use of this 20-minute space according to local conditions will have the opportunity to go further. The lease replacement in Changsha is an example, and the magic revision in other areas is estimated to be on the way.
The main idea of the policy is stability and stability. At this stage, the motivation for rising is insufficient, but the space for falling is also blocked. Not that you can't fall, but that you can't fall. Taking A-shares as a mirror, once the fall forms the expectation of trampling, some radical players will be liquidated and trigger a chain reaction, which is really fun. That is the reality. Some greedy people kidnapped most of them as hostages, but the person in charge of bomb disposal didn't dare to gamble or gamble.
But the crowding-out effect of real estate is also very obvious. At this stage, the optimistic estimate is five pots and ten pots. The root cause of low desire is not inability, but no future. It's not a reason to read it at a glance, but after reading it, I don't know what pits are in the middle of the road, so I can only take precautions carefully and weave a cocoon house for myself. If more and more people choose to castrate themselves and lack the flow of resources and information, consumption will naturally fail and become a solidified society like Japan.
There is nothing wrong with stabilizing the market in the short term, but in the long run, how to convince young people that "the sky is vast and promising" is what we really need to think about.