Clothing Consumer Goods Price VS The Value Of House Investment Products Ren Zhiqiang'S Argument Is Not Reliable.

< p > "one suite has spent three incomes."

Recently, Xia Hua, chairman of the Yiwen enterprise group and Yu Yu, chairman of Dangdang, complained to Ren Zhiqiang about the high housing price at the annual meeting of "Mulan".

Ren Zhiqiang asked Xia Hua: "a real estate project will take several years from development to final completion. How long do you do a set of < a target=" _blank "href=" http://www.91se91.com/ > clothing < /a ", and the bra is so large that it costs hundreds of yuan, and it is much more expensive than the house according to the square meter.

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Ren Zhiqiang's remarks were actually "original" of Feng Lun a few years ago.

The logic behind it is: the cost of doing real estate is high, and the manpower and material resources may be much higher than that of making clothes or brassiere. When the same unit is used to calculate, the price is low. So, what is the reason for the high housing price? < /p >

The truth of "P >" seems correct, but there are some flaws in it, because it is difficult to compare the prices of products from two different industries.

For example, if you compare the price of an egg to a Chinese cabbage, it is not meaningful to sell the price of eggs or sell the price of Chinese cabbage.

Similarly, with a square meter of commercial housing and a "one square meter" bra, it is difficult to explain whether commercial housing is expensive or cheap. Why is the comparison unit calculated in terms of "square meter" instead of "/p"?

The comparison between the < p > two is also reflected in the comparison with the durable goods such as a target= "_blank" href= "http://www.91se91.com/" > clothing < /a >, and the commercial housing embodies more investment attributes.

It is also flawed to discuss the value of investment goods at the price of a consumer product.

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From P's point of view, commercial housing is not a consumer product, but an investment product.

When measuring GDP, the most commonly used method is the expenditure method, which consists of four aspects: consumption, investment, government purchase and export.

In this system, why residential buildings belong to investment instead of consumption? It is that houses are capital goods in essence. They need to invest a lot of capital in the process of forming, and the use of houses, like large capital goods such as machinery and equipment, is slowly consumed and depreciated.

In addition, as with other investment commodities, the demand and supply of commercial housing are affected by two main factors: capital adequacy (total capital) and capital use cost (mainly bank interest rate).

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This is the case in P. In economics, commercial housing has always been included in investment goods (or capital goods) rather than consumer goods.

Therefore, in essence, the purchase of commercial housing is an investment behavior.

And throughout the history of China's economic development, houses have always been the most effective products for people to avoid risks and seek value.

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< p > although investment commodities are used as commodities, the demand theorem is applied. However, as a huge capital goods, the relationship between demand and price of commercial housing is sometimes not always reflected in total quantity.

In addition, because investment goods are usually scarce, price elasticity of demand is relatively high, and they have strong motivation to drive up prices, thus undermining the assumption that demand will drop after the maximum satisfaction is achieved in the price theory (the depreciation rate of clothing is fast).

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< p > therefore, there are some limitations in the interpretation of commodity houses in the consumer goods market.

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< p > in analyzing the supply and demand of commercial housing market, we can find that when the supply does not change, the rise in house prices does not make the demand buyers withdraw from the market, while the expected factors induce the new demand people, and the total demand at that time is made up of the immediate demand and the new demand.

This is why this year, although housing prices are rising, the total demand for commercial housing has not declined significantly. The demand structure of commercial housing is always covered by the rising demand.

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< p > from the recent years of property market regulation, there is a clear "de investment" intention.

However, due to the characteristics of commercial housing investment products, the effect of regulation and control in terms of two aspects of supply and demand is not obvious.

And the regulation and control measures that restrict purchase, price limit and loan limit to combat speculative investment demand, although to a certain extent, curb the excessive rise of housing prices, but as time goes on, the "side effects" of these administrative control measures will gradually emerge.

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