Why do some cities have low incomes but high housing prices?

Looking at the industrial bureau and the resident population, the housing prices in many cities are not only unreasonable, but also a joke, but later someone bought it, which is a real deal.

Satellite cities in first-tier or strong second-tier cities benefit from resource spillover, including location, transportation, industry, basic hardware and personnel flow. And it is no accident that the house price is high. How to achieve high housing prices in economically underdeveloped cities located in the mainland?

The high housing prices in underdeveloped areas began with the implementation of the government's control measures for destocking. According to conventional goods, "destocking" should be small profits but quick turnover, while houses are just the opposite. Conventional goods are consumables and houses are assets. Needless to say, China people's enthusiasm for fixed assets. Coupled with policy guidance, people are keenly aware that the price of a house will go up, and money will preserve and increase its value. If there is no money, the opportunity of low-interest loans will soon be seized, and relatives and friends will support each other to buy a house, and the transaction volume will be very large at one time. People who eat melons panic that house prices will rise, and everyone has to buy if they have money, and they have to buy if they have no money. In fact, it did create a wave of hot market.

Not long ago, I looked at the house prices in Suining, Sichuan and Kaixian, Chongqing, and they were all around 6000~ 1000. At first glance, it is not high, but the economies of these two places are underdeveloped, and the house price of 3,000 to 5,000 is almost reasonable. The total population of three districts and two counties in Suining is 340W, GDP 100 billion, and industrial output value is only100 billion. Per capita GDP is roughly equivalent to 1/8 of Foshan, which is also a prefecture-level city. Kaixian County in Chongqing, with a population of 1.40 W, has a GDP of only 24 billion and an industrial area of tens of billions, which is not worth mentioning. The house price can also be half that of Foshan. It is actually the income structure of residents. The per capita income of people in these two places is extremely low, and most of them go out to work or do business. Among them, nearly 50 people in Kaixian are working outside the home, and Suining is more. In other words, they use the income of developed areas to buy real estate in underdeveloped areas, and their purchasing power should not be underestimated. But we should also realize that since they can't settle in developed areas, their income and loans can support no more than 10 thousand house prices, and things will always reverse. This sign has already appeared.