In China, houses are the most resistant to inflation.
A house in first- and second-tier cities is no longer a house. Its function goes beyond living and has become hard currency. Comparing gold that has been used for a long time in human history, there are similarities: scarcity, a city's land resources have an upper limit, and population inflows continue to increase demand; properties are stable, houses will not deteriorate and can be used after decades of storage. The only thing that is not as good as gold is that the house cannot be divided and circulated, but it has rental income, which is worse than gold.
In the gold standard era, it is not difficult to understand that rich people hoard gold. And if you are hoarding banknotes now, your wealth may still shrink, because the money printing machines of governments around the world are running day and night, continuously increasing the total amount of banknotes, and your money is changing all the time.
Smart governments adopt the method of boiling frogs in warm water and maintain a certain rhythm to increase currency. You can shave a sheep for a lifetime, but you can only skin it once. This is the principle of releasing water. Overnight, the currency increased ten thousand times, the savings of most people turned into waste paper, the sheep wanted to rebel, and society collapsed. But it increases by 10% a year. In a few years, Sheep's monthly salary increases from 2,000 to 3,000. He is happy in the illusion of increasing numbers and is completely indifferent to the doubling of prices. In fact, his wealth is decreasing.
If you know common sense, the above-mentioned strategy of letting go of money is a good sign for you. You can also understand that rich people hoard houses even if they can’t live in them. This is the same as hoarding gold in the gold standard era. Now, in the age of housing standard, only houses can withstand inflation.
Property taxes and various purchase restrictions may appear to be helping the poor, but in fact they benefit the rich. This is equivalent to announcing to the market that demand now exceeds supply, and the seller has the initiative in transactions. The increased tax can be added to housing prices and transferred to home buyers. This further strengthens expectations for rising house prices, with the result that house prices rise even faster.
Purchase restriction measures can stop relatively poor people, but not the rich. For example, you have gathered the financial resources of three generations of your family and collected a down payment of 1 million. At this time, a purchase restriction policy is introduced, the down payment must be 1.5 million, and 500,000 stops you, but people who do not lack the 500,000 still buy it. In a few years, your family will work hard, save money and save 1.5 million, and the house price will double, but your down payment is still not enough.
Even if the government sacrifices real estate and makes the ultimate move, if a family is only allowed to own one house, will it be good for the poor? The answer is again, no. Money is the smartest thing. You can't buy it here. The rich can buy it in Hong Kong, London, Tokyo, New York and Sydney, and their money will still not be diluted. But the real estate industry is dead, no one can make money, and there is no supply of houses. Even if it is stipulated that one square meter can only be sold for 50 yuan, the poor will have no houses to buy.