Japanese mortgage market

Excuse me: Borrow money in China to buy a house in Japan, and mortgage a loan with a Japanese house. How to bring the loan money back to China?

Because your question has crossed the country, it's best to ask the bank staff locally.

What's the impact of the people who take out mortgage loans in Japan?

After the collapse of Japan's bubble economy and the collapse of housing prices, except for a few rich people with abundant assets, most ordinary people were hit hard by the way of "a strong man's broken arm".

Ordinary people usually borrow money to buy a house, and even borrow money to pay the down payment when the house price is high. However, with the sharp drop in house prices, banks will require borrowers with real estate mortgages to repay the gap caused by falling house prices. (Suppose the mortgage loan is 8, yuan and the property value is 1 million yuan. When the house price drops to 5,, because the mortgaged property is 3, less than the bank loan, the bank will ask the borrower to repay the gap of 3,)

If the borrower cannot repay, the bank can forcibly expropriate the mortgaged property (such as real estate) and sell it to make up for its own losses. Still in the above example, the bank can take back your property that has fallen to 5, and sell it for 3, (low price) to make up for its own losses. In this way, the borrower not only lost his house, but also owed the bank 5 thousand (loan 8 thousand-sale of real estate 3 thousand)

There are two main reasons for banks to sell real estate cheaply:

When house prices plummet, almost no one wants to buy a house again, and they can't sell it without lowering the price;

even if it is sold at a low price, the bank will not be damaged, and the part that is insufficient to repay the loan will still be repaid by the borrower.

Many Japanese people went bankrupt because of falling house prices and unable to repay the loan gap. In order not to implicate their wives and children, many Japanese choose to divorce their wives and give up custody of their children, and then bear debts by themselves. Therefore, most people who go bankrupt end up as "homeless people" on the street.

What are the signs of Japan's house price crash in the 199s?

The main signs of Japan's house price crash in the 199s are loose monetary policy, lowering bank interest rates, granting loans at ultra-low interest rates, buying houses by all people, buying houses by lottery, soaring land prices and so on.

In the 199s, Japan's housing price plummeted. For the reality that the property market in various places is soaring under the current Sino-US trade dispute environment, it is worth everyone to calm down and think carefully, look at the past road and analyze where the future property market will go. Because the sharp rise and fall of the Japanese property market is not only a domestic problem, but also a complex international conflict background. The main symptoms are as follows:

1. The sharp appreciation of the yen has hit Japanese export enterprises, and the Japanese government has adopted a loose monetary policy in order to support enterprises to maintain high export volume and reduce corporate debts.

2. The interest rate was lowered five times in a row, from 5% in 1985 to 2.5% in 1987, and the money supply increased by more than double digits for four years in a row, resulting in a large excess of liquidity in the domestic market.

3. Lowering the interest rate keeps the production and export of Japanese enterprises, and the foreign exchange earned by enterprises keeps pouring into Japanese banks. In order to expand its operating profit, the Bank of Japan tried every means to make use of ultra-low interest rates to issue loans desperately.

4. Compared with ordinary corporate loans, the risk of real estate mortgage loans is low, so Japanese commercial banks have put their funds into this field. A large number of loans from banks flowed into the real estate market and began to push up housing prices. In 1987, house prices in Tokyo rose by 53%. Those company employees who are buried in their jobs are afraid of rising house prices and are busy borrowing money from banks to buy houses. And real estate developers even organized a group of unemployed people to queue up late at night dressed as buyers, thus stirring up the mighty trend of buying houses by the whole people.

5. In 1987, a commercial house of a certain regiment in Tokyo was drawn by lottery, with a total price of 62 million yen for 55 square meters, with a lottery rate of 1/3,7.

6. The influx of hot money led to a rapid rise in stock prices and house prices, which attracted more international capital to speculate in Japan, the yen continued to appreciate, the stock market house prices continued to rise, and the bubble grew bigger and bigger.

7. Bank loans and hot money poured into the real estate industry at the same time, and land prices in Japan began to soar wildly. In 1989, Japan's land price climbed to 2,137 trillion yen, while the lowest at the end of 1998 was 1,388 trillion yen, and the bubble value of 749 trillion yen was equivalent to twice Japan's gross national product in 1989. At that time, there was a joke that only the land price in the 23rd district of Tokyo could buy the whole United States.

8. In 1989, the No.5 Tomoko in Ginza, Tokyo, lived in front of the hall. At that time, the public land price announced by the Ministry of Land and Resources and Communications was 11 million yen, equivalent to 97, US dollars, which was also the highest land price in the world that won the Guinness World Record that year. Today, the price is 4 million yen, which is almost 2/3 lower.

Expanding knowledge:

Crisis after the collapse of housing prices

In p>199, the proportion of loans in Japan's productive industries dropped to 25%, while the proportion of loans in non-productive industries rose to 37%. Japan's seemingly prosperous economy has become a veritable castle in the air, and the crisis is imminent.

the Japanese government is also aware of the economic bubble, and the irrational property market is shaking Japan's two basic national policies of "basic farmland system" and "rejuvenating the country through science and technology". As a result, the Japanese government suddenly contracted monetary policy.

first, raise interest rates in the short term. In May 1989, the central bank raised the ultra-low interest rate, which had been maintained for more than two years, from 2.5% to 3.25%, and then raised it four times in a row, reaching 6% in August 199.

Second, the government suddenly tightened credit and controlled the total amount of real estate credit. In 1991, commercial banks stopped lending to real estate, and the growth rate of M2 dropped sharply from the average of 11.68% in 199 to the low average of 3.66% in 1991, which was far lower than the nominal GDP growth rate of 6% in that year. The macro-control policy was too strong and the bubble burst quickly.

the stock market bubble was punctured first. January 12, 199 was the darkest day in the history of Japanese stock market.

On the same day, the Nikkei index plummeted and the Japanese stock market plummeted by 7%. Since then, the Japanese stock market has fallen into a bear market for 2 years.

The stock price has fallen sharply, and the credit scale has declined, which has caused huge losses to almost all banks, enterprises and securities companies. The bankruptcy of the company caused a large number of real estate owned by it to flood into the market, and suddenly the real estate market appeared oversupply and the house price showed a downward trend. At the same time, with the yen arbitrage space shrinking, international capital began to flee.

in p>1991, the Japanese real estate market began to collapse, and the huge real estate bubble burst from Tokyo and quickly spread throughout Japan.

in p>1992, the Japanese government issued a "land price tax" policy, which made it even worse, stipulating that all land holders must pay a certain percentage of taxes every year. Owners who hoarded a lot of land during the real estate boom sold their land one after another, and the Japanese real estate market immediately entered an era of "oversupply".

The combination of several factors has accelerated the total collapse of Japanese real estate economy. During the bubble period, the prices of the three metropolitan areas (Tokyo circle, Osaka circle and Nagoya circle) which were much higher than the national average also fell the worst after the bubble burst, and the decline exceeded the national average.

Since the bubble burst in 199, the average house price in Japan has been declining for 16 consecutive years.

from 199 to 26, the national average house price dropped by 49.56%, basically returning to the level before the real estate bubble in 1986; A large number of enterprises went bankrupt, and the number of bankruptcies of banks and real estate companies exceeded 3,. Japan's employment pressure was unprecedented, and low wages and long working hours almost became a chronic disease in Japan, so NEET took the lead in becoming popular in Japan.