Straining every nerve and sinew, putting down a hefty down payment to buy an extra property, and then just waiting for the housing prices to soar... This was once the dream of many! But after all, it was just a dream, and now, they really regret it!
Speculating in real estate, getting rich overnight, how tempting these words are! But now, it really drives people crazy, and how miserable it is, only they themselves understand!
There are too many people around who have fallen into the pit! Many vivid cases, speaking from experience, those who are preparing to gather money to buy a house to get rich, should wake up!
How big your head is, that's how big your hat should be, greed will be punished!
Don't believe it? Look at these cases, what did they do wrong?
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My best friend bought a house and lost her old capital!My wife's best friend has been married for eight years and has a six-year-old child. She doesn't lack a place to live; her husband is a mid-level manager in a large state-owned enterprise, and he used to receive a meal allowance of 1,800 yuan per month, with a good salary and benefits. Her best friend is also a white-collar worker with a monthly income of seven to eight thousand yuan, and life is going well.
After having a child, the family of three lived a routine life, doing well without being extremely wealthy, but without any pressure in life.
In 2021, housing prices continued to rise, interest rates were also rising, and purchase restrictions began, making it difficult to apply for mortgages. She heard from others that it would become increasingly difficult to buy a house in the future.
Seeing this, her best friend was anxious and, despite her husband's strong opposition, insisted on buying another house, fearing that her son would have no place to live in the future.
She thought, "Anyway, I have some savings, which would depreciate if left idle. It's better to exchange them for a house. If the housing prices rise sharply in a few years, I can consider selling it. If not, I can keep it for my son to live in later."
The house is 120 square meters, with a unit price of 13,500 yuan, and the location and supporting facilities are excellent. She once felt proud of her vision and decisiveness.
Now, it is difficult to sell both new and second-hand houses. Her best friend's new house is about to be delivered, and there are still a large number of unsold houses. The off-plan house has become a ready-to-move-in house, with the unit price dropping to around 10,000 yuan. It is said that those who are good at bargaining can even get a parking space for free.
When buying the house, she considered many factors, but she never thought that the housing prices would fall. The 120-square-meter house directly lost 420,000 yuan in total. Although it was bought with a lump sum without mortgage interest, the loss was a pile of hard-earned money!
In the past two years, her husband's company has not been performing well, and his income has decreased significantly. Her best friend has also lost her job, and she has no money on hand, feeling very frustrated.
When she first bought the house, she was confident and always talked a lot at dinner parties, with a smile on her face. Now, when people talk about the real estate market, she feels dejected and quickly changes the subject, not wanting to talk much.After years of rising housing prices, who would have thought they would actually fall!
Buying a house as a savings account, losing it all!
My friend, whom I've known for over a decade, has a decent relationship. He is 35 years old, and both he and his wife are ordinary employees, with one son.
Logically, with such family conditions, he should not have become a real estate speculator at all.
When they got married, the house was funded by both sets of parents, without a mortgage. After so many years of marriage, apart from raising a child, there were not many other expenses. The couple was good at managing their finances and really saved some money.
With more money, the hands will itch, and people will become anxious. He always felt that just saving in the bank would definitely not keep up with inflation. If the money devalues, then all these years of frugality would have been in vain, with no return and even a loss.
In 2019, the real estate development in the new district was booming, and everyone said that it would be the new core of the city in ten years. Whoever took the position in advance would be equivalent to taking a big advantage in advance.
My friend plunged in without hesitation and bought a second house in the new district, from looking at the house to deciding on the house, it only took more than a week.The house is 135 square meters, with a unit price of 9,200 yuan. With such a well-planned and spacious house, the total price is only 1.24 million yuan, which everyone thought was a bargain at the time!
My friend did not hesitate to pay a down payment of 400,000 yuan, and took out a loan of 840,000 yuan for 30 years in 360 installments, with an interest rate of 5.88%, using the equal principal and interest repayment method, with a monthly payment of 4,970 yuan. With the couple's monthly income, they can afford this amount!
After the house was delivered, the development of the new district came to a standstill. The expected large commercial facilities did not materialize, and there was no popularity, leaving only the plan.
When the new district became a ghost city, the housing prices plummeted like a dam breaking. The average price of second-hand houses in the community dropped from 9,200 yuan to 6,500 yuan, but it was still unsellable because the developers still had a large number of unsold houses, with prices almost the same!
This house is just there, with no money to decorate, no desire to live there, as the new district is too desolate; wanting to rent it out, but the bare-bone house is not appealing to tenants; wanting to sell it, but the loss is too great, it's heartbreaking, not selling it, and there will be no loss!
A house has lost 360,000 yuan in value, not to mention the interest of these years. Who would have thought of this a few years ago!
It was just meant to be a savings, hoping to earn more interest, but unexpectedly, even the principal is gone!
The house has become a hot potato, wanting to sell, but no one is willing to take over, it's unsellable!The small-scale real estate speculator is like a moth to a flame!
My colleague, who used to be on the same real estate industry chain as us, could barely be considered a minor amateur real estate speculator, which is not the same as those professional real estate speculating groups.
He is smart and bold. While everyone else is a rule-abiding office worker, he dares to speculate and is not willing to be ordinary.
A few years ago, the real estate market was more and more popular year by year. He has a keen sense of smell, and through loans and borrowing, he gathered some capital and bought and sold several houses in succession, not too greedy, with a strategy of quick decision-making, relying on caution to make some small money.
After tasting the sweetness a few times, he wanted to make a big deal, then speculate on a few more, make more money and quit, as long as he is financially free, he will go fishing every day in the future, and won't go to work anymore, even the motorcycle for fishing is already seen in advance.
In 2018, he sold all the houses in his hand, including the one he lived in, temporarily renting a house, and after exchanging a large sum of money, plus the savings of these years, he bought three school district houses at once, just waiting for the price to double in a few years!
In 2019, the house price continued to rise, and it has already made a lot of profit, but he never thought of selling, the increase is not enough, far from financial freedom, and he needs to wait again!
As long as there is enough time, the house price will rise high enough, and he wants to be the person who wins by lying down.
Who could have thought that the third year of the epidemic came! In 2020, the house price was still strong, and even slightly increased, he was not panicked at all. In 2021, although the house price did not increase much, the interest rate has been rising, and there are restrictions on buying and lending, and the threshold for buying a house has increased.
My colleague was still very optimistic at the time, the rarer the thing, the more expensive it will be in the future.In 2022, the wind suddenly changed direction. The interest rates soared to their peak in the middle of the year, but starting from the second half, not only did the interest rates fail to hold, they began to decline, and even the housing prices became unstable! Once the housing prices started to fall, there was no stopping them!
This year, he lost his job, and his spouse has never worked, being a housewife and unable to help at all. The livelihood of the whole family has become a problem, and with no other choice, he had to take the path of selling the house to solve the urgent need.
But after listing it for more than half a year, the house still couldn't be sold, and its price kept falling, causing heart palpitations every month. In just a few years, he lost nearly 2 million, which is an astronomical figure for a working person like him.
He bought several houses, not only did he not make money, but it was as if he had cut a large piece of flesh from his own body, the loss was heartbreaking!
At first, he was deeply convinced of the real estate market, full of vigor, and liked to teach us how to invest; now, he is dispirited, as if he has aged ten years at once. When we meet, the topic of housing has become a taboo, and no one dares to talk about it!
Originally, how much was earned, later it was doubled and given out, it's too cruel!
Speculating in real estate is really a one-way street!Between 2018 and 2021, those who dared to speculate in real estate, whether in big cities or in small towns, are probably now suffering heavy losses, with more than 95% experiencing significant blood losses, which is extremely painful!
Most of them are stuck, with prices but no market, and would rather sell at a loss than not sell at all!
Those who can make money are extremely rare and can be considered the cream of the crop!
Do you have any stories about real estate speculation around you?
Let's talk about it!