Following the strict investigation of the inflow of business loans into the property market, the real estate market has once again experienced a wave of rectification.

This time, the target is "fund-raising and house hoarding".

According to national business daily's report on May 8th, Shenzhen announced the investigation of "Mavericks Capital". Up to now, 663 accounts have been frozen, more than 14 million yuan of funds have been recovered, 1,56 properties have been set up, and 99.91 million shares of the company have been frozen.

many people may feel a little dazzled: 1,56 properties, how to do it?

among these properties, there are 3 houses and 4 shops in Shenzhen, 18 houses and 858 shops in Guangzhou, 76 shops in Foshan, 6 shops in Shanghai, 1 house in Harbin, and 2 lands (24,37.5 square meters in total) under the jurisdiction of Harbin City, Heilongjiang Province and Hanshou County, Hunan Province.

houses, shops and land are all available.

obviously, all the money raised by this company is used to hoard houses and land, and now it is finally time for liquidation.

But to tell the truth, their eyes are a bit poor. Only one-tenth of the houses are stocked, and most of them are shops. Under the current market, it is difficult to realize cash.

as we all know, in the past few years, the supply of office buildings, shops, apartments and other commercial real estate in major cities has greatly increased, the rents have been falling all the way, the mobility is extremely poor, and the transaction taxes and fees are extremely high. Many "speculators" who hoard shops have become "mice".

according to wind data, in January 213, the average rent of shops in Guangzhou was still 7.56 yuan/day. square meter, and then it fluctuated and fell all the way, reaching 5.56 yuan/day. square meter in December 213.

from p>213 to 216, the store rent has been hovering around 4~6 yuan/day. square meters, and it was further reduced to 3~4 yuan/day. square meters from 217 to the first three quarters of 218, and there is still no improvement.

As for the company's equity, this company also suffered a lot. For reference, when Tongzhou Electronics paid its debts due to the loan dispute of the actual controller, it was equivalent to about 12.3 yuan per share. At present, its share price is less than that of 2 yuan, which is even worse than "half-cut".

Coincidentally, some time ago, Shenzhen Housing and Construction Bureau issued a circular, and seven departments conducted a joint investigation on illegal real estate speculation in Da V "Shenfangli".

It is unprecedented that seven departments can investigate at the same time, which shows the importance attached by the regulatory authorities.

The circular also specifically mentioned that "Shenfangli" raised funds from unspecified objects in the name of joint venture and crowdfunding, and promised to return the proceeds. If it is suspected of illegal fund-raising, the lead department for handling illegal fund-raising will investigate and deal with it in conjunction with the industry authorities and regulatory authorities according to law.

like the case at the beginning of the article, it is also a fund-raising and real estate speculation, which is not a coincidence.

What's different is that the playing method of deep sex is more subtle and extreme.

the first step is to attract all kinds of interested buyers.

in the second step, the buyers publish recruitment advertisements to find shareholders or partners, with the purpose of signing an agreement with the buyers.

Step 3: Divide and hold a corresponding proportion of house "shares" according to their respective investment proportions.

Step 4, the house "shares" among members can be transferred, pass the parcel.

On the one hand, members recruited by Shenzhen Real Estate Agency can inject idle funds into them and get corresponding interest returns.

On the other hand, it provides loan services to members who need loans, and collects interest spreads in the middle of the house.

in the final analysis, he can help you find ways to solve problems such as not being qualified to buy a house, being short of money to buy a house, splitting shares, etc., and pool everyone's funds to play "real estate securitization".

the risk is obvious.

once the policy is slightly tightened, for example, Shenzhen released the reference price mechanism for second-hand houses this year, and major banks also mentioned the mortgage interest rate, strictly checking the inflow of business loans and credit loans into the property market, making it difficult to realize the real estate, and all the participants in the chain with extremely high leverage will lose their funds.

These two cases are typical cases of "fund-raising and house hoarding". Although they have different methods, they all have the characteristics of "fund-raising", "real estate speculation" and "house hoarding", and the participants are not small. If this phenomenon is not nipped in the bud, it will inevitably affect the stability of the financial system.

Severe punishment of "fund-raising real estate speculation" is closely related to China Banking and Insurance Regulatory Commission's recent statement.

in late April, the inter-ministerial joint meeting (enlarged meeting) on handling illegal fund-raising in 221 was held in the form of television and telephone, which clearly pointed out that risks in key areas should be actively resolved and non-risk trends in private equity funds, wealth management, real estate and other fields should be highly guarded.

this meeting mentioned eight words: find it as soon as possible, and fight when it emerges.

In addition, the Regulations on the Prevention and Disposal of Illegal Fund Raising came into effect in May, which is the first administrative regulation in China to prevent and dispose of illegal fund raising. There are strict restrictions on the establishment of Internet enterprises, investment and investment consulting enterprises, various trading places or platforms, farmers' professional cooperatives, mutual funds organizations, or the absorption of funds in the name of various asset management, virtual currency, financial leasing business, etc.

The new regulations also clearly stipulate that the participants shall bear the losses incurred by participating in illegal fund-raising.

the tone of the high-level statement is very strong, and the investigation and punishment actions are also very rapid.

The reason is that when the over-financialized real estate encounters the fund-raising behavior of "absorbing funds from unspecified people", these two things will inevitably collide.

for banks, once the capital chain of fund-raising real estate speculation is broken, it means that a large number of bad debts are concentrated and the non-performing rate is rising.

For the buyers who participate in fund-raising, the implementation of the new regulations in May means that the loss can only be "broken teeth and swallowed".

Wenzhou was a typical example.

Ten years ago, Guojin Securities issued a research report: the risk of private lending is far better than before, and the risk appetite is horrifying. In September 211, it reached an all-time high of 25.44%, with a monthly interest rate of 21.2‰, which was 1.7 times of the previous high of 12.6‰ in April 28.

According to the statistics of Wenzhou Central Sub-branch of the central bank at that time, of the 11 billion yuan of private lending funds in Wenzhou, only 35% was used for general production and operation, that is, more than 38 billion yuan; For real estate project investment or fund-raising real estate speculation accounted for 2%, about 22 billion yuan; Of the remaining funds, 4%, that is, 44 billion yuan, has not entered the field of production and investment, and still stays in the private lending market, and another 5% (6 billion yuan) has unknown uses.

At that time, the Wenzhou property market was completely tied up by the real estate speculators.

The proportion of real estate financing in banking credit is as high as 26%, which is 8 percentage points higher than the national average;

The proportion of real estate mortgage loans is as high as 58%, which is 29 percentage points higher than the national average;

Wenzhou entity enterprises have a high proportion of real estate. Among the 18.6 billion yuan of real estate financing, the proportion of Wenzhou entity enterprises participating in real estate development and loans reached 66%.

At that time, the report said bluntly: This kind of usury and fund-raising real estate speculation without the support of the real economy is just a game of pass the parcel. Once the last stick escapes, the whole game will collapse and end.

When "real estate speculation" encounters "fund-raising", it's like opening a Pandora's box, and no matter what, who knows what these people can do.

As the famous saying of China Banking and Insurance Regulatory Commission executives said:

If the yield exceeds 6%, it will be questioned; if it exceeds 8%, it will be dangerous; if it exceeds 1%, it will be ready to lose all the principal.

this sentence is the golden jade.