State Spending 30 Trillion to Buy Back Real Estate

Wu Jianbin, former director of Country Garden, proposed a disruptive plan: the state would spend 30 trillion to buy back real estate and solve the real estate problem in one go. At present, Wu Jianbin believes that the real estate problem is imminent, and further delay will only make it worse. He firmly believes that the best solution is for the state to invest 30 trillion yuan to buy back real estate.This plan aroused heated discussions among netizens as soon as it was proposed. Some people point out that it is inappropriate for developers to make considerable profits but to blame the country for taking the blame in times of difficulty. Some people also questioned that the company's top executives received large sums of dividends, and now they are using it to rescue the real estate market. They are quite puzzled. Some even joked: Could it be that you drank too much and came up with such a weird plan?Can you get a glimpse of the scale of 30 trillion? Judging from China's GDP of approximately 121.8 trillion in 2022, 30 trillion is close to a quarter. If all 30 trillion were exchanged for 100 yuan notes, it would be enough to circle the earth's equator five times. Even if 100 yuan is spent every day, it will take 820,000 years to spend all the 30 trillion.Once this huge amount of money is used to acquire real estate by the state, the state will also need to face other expenses. Fields such as education, national defense, and medical care all require large amounts of funds. Some people believe that this plan may be difficult to implement, and therefore suggest that the developers be investigated and punished to recover illegal profits. If the state can control the real estate market and use recovered funds to maintain market stability, it will ensure people's housing needs.Looking back on conversations I had with friends a few years ago, I joked that our houses wouldn’t be able to sell in the future. Unexpectedly, over the past few years, house prices have plummeted. For ordinary people, buying a home is still a big problem. In our small county, housing prices once exceeded 10,000 yuan per square meter, but now they are less than 5,000 yuan. But how much does the average person earn? Three to five thousand for civil servants and two thousand for ordinary migrant workers. After working for two months, it may be difficult to afford a house of one square meter.Although housing prices have fallen, it is still difficult for ordinary people to buy. Faced with this situation, do you think house prices will continue to fall? For you, what is the bottom line for buying a house?