Is the house price too high or the salary too low for people to afford a house?

We have always mentioned the high housing prices in China. Today we will talk about the reasons why we can't afford a house. Is it because the house price is too high or because our salary is too low? Many people say that it mainly depends on the average house price-income ratio of a country or a place. If the ratio of house price to income is not high and you can't afford to buy a house, it means that your salary is too low, and vice versa.

The ratio of house price to income refers to the ratio of house price to the annual income of urban households. The so-called ratio of house price to income refers to the ratio of house price to the annual income of urban households. Take Guangzhou as an example: 20 16, an ordinary two-bedroom new house in Nansha is 80 square meters. After the crazy price increase, it is calculated at a unit price of 25,000 yuan, with an average of about 2 million yuan; If you buy a house for a middle-class family who has worked for five years, suppose that the couple's monthly salary is 2000 yuan, the family's monthly income reaches 4000 yuan, and the annual income is 48000 yuan. In this way, the ratio of house price to income is 40, which seriously deviates from the reasonable ratio of house price to income. It is generally believed that the reasonable ratio of house price to income is 4-6. If the calculated ratio of house price to income is higher than this range, it is considered that house prices are on the high side and there may be a bubble in real estate. The higher it is, the greater the possibility of bubbles and the greater the bubbles.

Then why can't you afford a house?

The monopoly of the primary land market leads to high housing prices.

"Land finance" is the most criticized word by some economists and insiders. It is regarded as the chief culprit of the real estate bubble caused by rising housing prices and high prices, and is regarded as synonymous with local governments' quick success and instant benefit, performance orientation and even official corruption. Local governments rely on the income from transferring land use rights to maintain local fiscal expenditure. China's "land finance" mainly relies on incremental land to create fiscal revenue, that is to say, the financial demand is met through the land transfer fee. Therefore, in the process of land management, many problems have appeared. The proportion of land finance in the local government's fiscal revenue is too large, which pushes up the land price, makes the land king, and at the same time reacts on the house price, forming a new real estate bubble. At the same time, land finance makes the income of local governments too dependent on real estate developers, who are in a natural monopoly position.

The income distribution gap in China is too big.

Many migrant workers and low-and middle-income people in first-tier cities have low assets and it is difficult to buy urban real estate. Many migrant workers poured into first-tier cities. Due to the huge agglomeration effect of big cities, many migrant workers can get higher income after coming to big cities. However, in this case, the influx of a large number of people will lead to the unreasonable industrial structure of the city and make it difficult to obtain employment. Often in this case, the government will introduce relevant policies to limit the flow of population, plus local taxes are mainly value-added and land transfer fees, plus the household registration system, so many migrant workers will not get too much housing subsidies. Because land rent also determines the level of housing prices, various reasons lead to the deviation between housing prices and in-situ rents, which greatly hits the purchasing power of migrant workers and low-and middle-income people.

Excessive Currency and RMB Depreciation

The housing price in China is closely related to the domestic economic trend, which is basically consistent with the direction of currency circulation in the market. With more money, house prices go up, while with less money, house prices go down. The national economy is weak, the currency is over-issued, and the RMB is devalued ... In the case of capital hedging, many capitalists have hid in real estate in an attempt to ensure the safety of this real estate.

Excessive concentration of resources

Resource concentration is the necessity of China's economic development. Although the building of houses and buildings has not stopped, house prices remain high. Local governments have also introduced relevant policies to destock, but the effect is not obvious, and the inventory problem is still outstanding. In the future, more people and resources will flow into first-tier cities, even to neighboring second-tier cities, and house prices will remain high.

Finally, talk about salary. Suppose a person earns 8,000 yuan a month, and 96,000 yuan a year without eating or drinking is not too much. In Guangzhou, he can buy three or four square meters. The salary of 8 thousand a month is neither low nor high, but it is difficult to afford a house in a first-tier city. In today's high housing prices, our wages are not directly proportional to the housing prices, which is also a reason why we can't afford to buy a house.