United Kingdom is how to stabilize the prices too high? _ Wei and others

"The world is how to stabilize the price is too high of one of the" United Kingdom is how to stabilize the prices too high? Wei others United Kingdom economy has continued steady growth for more than ten years, the unemployment rate is low, the bank rate is low, the purchase of real estate demand, particularly in the residential market in short supply, so that real estate prices continuously for more than ten years to more than 10 per cent annually, the most recent three years more than 20 per cent rate increase. United Kingdom real estate situation and the situation of China's real estate market seems to be very similar, and even more popular. House prices in 15 years at least turned 1.5 times, some environmental good community even turned over 2-3 times. Due to the impact of the appreciation of the real estate to invest for the primary purpose of the house number is also increasing. In 2004, a loan for the rental of a personal loan, from 5 years ago 7.3 million pieces, soared to 47.3 million. Financial experts repeatedly issued United Kingdom real estate overheat warning. Enter in 2005, the United Kingdom real estate prices have been effectively inhibits the growth of the national average has dropped to 10% the following year, the United Kingdom housing prices fell to its lowest level in two years, the basic realization of the "soft landing". United Kingdom inhibits real estate hot main tool is the increase of the interest rate, which leads to mortgage loan costs increase, increased pressure homeowners debt service. This leverage through the interest rate on credit thermal approach, known as the "cauldron". In the United Kingdom real estate market, 99 percent of people purchase need to apply for a bank loan. United Kingdom of loan interest rate, which is the most favourable loan, the interest in buying at 5.9% ~ 6.7 per cent; personal loan interest at 7%-8%; commercial loans at 9%. The loan interest rate is higher than China a lot, it is difficult to imagine that if China's loan interest rates also increase the level of the United Kingdom, then, what will happen. Bank on the housing credit have strict limitations, cannot exceed personal annual income of 4.2 times, or couples 3.5 times revenue. If China is also strictly will limit the housing credit cannot exceed personal annual income 4.2 times (if the loan's monthly salary of $ 3000, a line of credit for no more than 15 million) or couple 3.5 times revenue. (This two credit is very close to) it is difficult to imagine that if China's line of credit is increased to the level of the United Kingdom, then, what will happen. Most likely, more than half a loan to people who have been in addition to this threshold. The Bank of England interest at the rate of increase is very carefully, taking action on each small 0.25 per cent rise in interest rates, from November 2003 to August 2004, 5 time fine-tuning the bank rate increased from 3.5 4.75 per cent. Enter in 2005, the United Kingdom real estate prices have been effectively suppressed. Take a look at this piece of history, you will clearly see that the United Kingdom Government is how to make a macro, the United Kingdom Government's macro-control means how simple and effective. United Kingdom Government's macro-not so much by Government order, is the use of the Bank of England interest at the rate of increase, rates of use of the Bank to carry the rod. While China banking on the interest of such as Tiger, who has interest rates are still as the Bank of China of negative interest rates. It is Bank of negative interest rates resulted in macroeconomic adjustment and become the ultimate measure is only half done, little effect. And the Bank of England interest compared to the action of, Bank of China in 2004 and 2006, only a third increase interest and deposits increase interest only twice. The interest rate of similar magnitude and United Kingdom, 0.27%. 2006, August 19, the latest a rate hike, financial institutions, one-year deposit base rate is only 2.52%; whereas the United Kingdom 4.75 per cent. Nearly doubled. Bank of China a year lending benchmark interest rate 6.12%; United Kingdom 7%-8%; commercial loans at 9%. Also high out of the nearly 50%. United Kingdom Government proposed to "acceptable price, as each person has a decent United Kingdom housing". To address the low income housing problem, the United Kingdom recently promulgated a series of policies and initiatives. Related policy priorities to three types of people inclined: one is the first purchase of young people. Second, the low income population. The third is the community key position service personnel, such as nurses, teachers, firefighters, etc. Specific measures include: 1.6 m following the construction of low-cost, small-family housing. Government at the end of 2003, three years will invest 50 billion pounds this year proposing the construction of 8 million within five years. Second, as a key position to provide purchase grants or soft loans. III. the establishment of cooperatives and real estate companies, allowing flexible hybrid property. If the buyer can buy half of property rights, or to buy half of rental half, etc. 4 to 30 million rental local government welfare owned house residents discount sale housing prices can be as low as 3.8 million to 1.6 million pounds. 5. purchase of stamp duty threshold will be further enhanced. Sixth, the Government built on land further relaxation of the restrictions, the (rather) open the 1650 more hectares of Defense and the national health system of all the land, allowing the use of abandoned land, public green edge and other "grey land". From the above comparison, we realize that something? Disclaimer: this article is original manuscripts, newspapers and reproduced must obtain the consent of the author.