Experts: Why Does The Efficiency Of Real Estate Regulation Shrink?

China's real estate macro-control has been going all the way for nearly 10 years, during which policy overlapped. " Novelty "," fierce strokes "," strong strokes "frequent, but the effect is always difficult.

What causes the regulation efficiency to shrink? What are the ends of the real estate market regulation in China? I believe that all responsible Chinese are reading this basic but fundamental question. The author tries to talk about the experience of regulating the real estate market in China from three aspects: regulation mode, interest game and system dependence.

There exists a phenomenon of "invisible hand" to intervene and coordinate the "invisible hand" phenomenon in the market. Although this kind of intervention and coordination is vastly different in terms of degree, means and technical line, there are only two kinds of foothold for implementing "intervention and coordination". One is to stand on the same side with the market, and to achieve the expected goal by means of the power of the market itself. The "bottom line" of intervention and coordination is based on the premise that the market rules are not broken, and the means adopted are strictly confined to the framework of the economy and the market itself. Another kind of "intervention and coordination" is to stand on the opposite side of the market and change the operation of the market by administrative power. From the perspective of regulation and control, throughout the history of world economic development, there are no exceptions in different periods and in different countries and regions.

Real estate regulation is economic " Intervention and coordination The concrete manifestation of the regulation and development to this stage is absolutely necessary to ponder over the basic problem of regulation and control mode.

From the analysis of interest game, this is a topic that everyone has seen very clearly. If the regulation is not successful, we must use the effect to speak. If we fail to see the effect, we will not be able to change our expectations. To be effective, the first problem that needs to be solved at present is the implementation of regulatory policies. In recent years, the documents on real estate regulation in the recent years have been issued by the ministries and bureaus of the ministries and bureaus as long as they are issued by the ministries and commissions at the first level. However, these departments have their own interests and ideas, but they are very good at the meeting.

from system Dependency analysis. In theory, it is the bubble that will eventually burst. However, most of the Chinese people do not have such a real worry, because when they look at problems and make decisions, there is a basic psychological bottom line. That is our national system. They feel that we are a socialist country, what a major market turbulence, and the state has full responsibility and ability to defuse risks and save the market. For example, our state-owned banks have already exceeded the bankruptcy warning line that the market rules can tolerate, but they did not "die" in front of the market. They not only survived by stripping off unhealthy assets, but also made tens of billions of dollars per day, and the status of the diamond industry was further consolidated. Again, last year, the state conducted in-depth surveys of investment and financing platforms in various places, and found that there were many problems, risks and bubbles were far beyond the controllable range. Many experts set out targeted prescriptions. The central idea is to "clean up" two words. However, freezing three feet is not a day's cold. Finding problems does not mean that they can go straight to solve problems, but rather have a lot of scruples. Therefore, despite the early red light of the industry, the platforms carrying important tasks of local governments are still weight-bearing.

Thinking is inertia, people think, state-owned banks can, local investment and financing platform can be, why real estate can not? Supported by such logic, despite the fact that the real estate bubble has already emerged, despite the repeated demands of the state for prudence and rationality, most developers and consumers still hold optimistic expectations, which makes the country's effect on the regulation and control policies of the real estate industry unable to be fully released. (