News 1+1丨How to supervise real estate speculation in school districts?

Bai Yansong can help you ask

  Recently, Lu Yugang, director of the Department of Basic Education of the Ministry of Education, stated that my country will thoroughly implement the regulations on nearby admissions for compulsory education and the policy of "citizens with the same recruitment".

Local governments are also introducing relevant policies this year. Will school district housing prices rise?

Or did it fall?

  In the April 9th ​​"News 1+1", Bai Yansong connected with Ding Jiangang, a researcher at the Real Estate Research Center of Zhejiang University, to pay attention to: How to supervise property speculation in school districts and property speculation?

Behind the increase in school district housing prices: asset anxiety superimposed on school district anxiety

Ding Jiangang:

This is the superposition of the real estate fever in some cities and the housing fever in school districts.

  ① Asset anxiety: Since last year, people in some hot cities have had a kind of asset anxiety under the loose monetary policy.

  ②School district anxiety: The school district is a kind of social public service, but people are more and more demanding, and they hope that their children, especially those born in the 80s and 85s, are going to school. They believe that the so-called "cannot lose at the starting line" , The requirements of the school district have become rigid requirements.

  The superimposition of these two kinds of anxiety has become an important reason for the increase in school district housing and even the substantial increase.

For high-priced school district housing, the fundamental problem to be solved is how to distribute high-quality educational resources in a balanced manner

Ding Jiangang: The

government is also very anxious about the regulation of housing prices in the school district. It seems that it has not found a fundamental solution.

Behind the housing boom in school districts is actually the uneven distribution of scarce educational resources, and this imbalance is tied to the real estate market.

From this point of view, housing prices are indeed a bit wronged.

  The high-priced school district housing is not really used for living, but for going to school. The school district’s education price is tied to the housing price. To fundamentally solve this problem, the fundamental problem is the balanced distribution of high-quality educational resources.

The Ministry of Education stipulates that elementary schools strictly enforce the exemption from examinations and enroll in nearby places. Will it actually push up the price of housing in the school district?

Ding Jiangang:

The original intention of the Ministry of Education is to solve the problem of sleep and rest for students.

Students are in the growth and development stage, and they can sleep longer if they live closer, but in fact this binds educational resources to the house.

  For those houses that are close to schools with high-quality educational resources and are classified into high-quality school districts, there is no doubt that as long as they have school district value, the price will rise again.

Perhaps the original intention of this measure is good, but it is indeed possible to push up the price of school district housing.

Why has the heat of the real estate market started to rise again recently?

Ding Jiangang: In the

past year or so, the real estate market in some hot cities in China has been very hot. This "hot" is actually a kind of asset anxiety.

Asset anxiety actually comes from relatively loose monetary policy, or people’s strong expectations of asset price increases.

  Since the epidemic was brought under control last year, the world has actually implemented a relatively loose monetary policy, and the same is true in my country.

Our M2 (broad money) has double-digit growth except for January this year, which has not been seen in the past few years.

People's expectations of assets, especially housing prices, believe that it will rise, or even soar or soar.

  And this time, if it is said to be "water release", it is not that there are sponges all over the country to absorb water, but some hot cities, especially the Yangtze River Delta, Guangdong, Hong Kong and Macao, and the Pearl River Delta will rise faster.

In addition to the factors of anxiety in the school district, real estate has been very hot recently.