炒房揭秘内幕(translation by Google translate below). Let me summarize because Google translate did not do a good job. The guy was in pawn business. He used little own money to buy a house (he borrowed the money from bank). When the one year loan is due, he was very worried because his money is stuck in his business. The bank loan officer tell him not worry, just sell his house to his wife for a higher price (let his wife get a larger loan to pay off his first loan), in the process the loan officer will get a cut.
This seems just like the zero down payment, ARM rate in the US housing market a few years ago. All the hope was based on the rise of housing price. If the housing price plummet, obviously the banks will be left to hold bags (in China the mortgages are not securitilized).
Here is text generated by Google translate:
First, buy a house do not fish out a little, how do you operate?
If the students — (this is a mis-translation by google)
You know, my pawn business entirely on the money begets money. The first buy a house, although I have the ability to pay off the entire paragraph, but I do not want the house so much cash was crushed to death. At that time, being popular “zero down payment”, so I did not spend a cent, loans 180,000 bought a house (loan period of one year).
The expiry of one year, we should also paying back the principal and interest of the. I do not know lucky? Or am I bad luck! At that time, my funds are a business occupied. For business, I not only not starting paying back the principal did not say, must also another new loans. Forced to, I approached the old relationship – the bank’s credit department manager ditch dollar. When I hem and haw in the “extension is also paying back the principal and another new loans” requirements that came out, did not expect, credit managers are secretive smile, very readily agreed. (the meaning lost in translation, basically the bank loan officer agreed to extend a loan if the guy pay him a bribe).
Credit Manager give me the idea is simple: Let my wife, at twice the price of the loan to buy my house, loan term is for one year.
“Twice as loans, that is twice the interest ah! You this is not changing the side of exploitation me?” I do not have to react.
“If then, you do not repay it?” The credit manager is very calm.
“Ah … …”
“The bank Shou Fang, there is no big deal! The key is to remove taxes and fees, I also got 170,000 virtue of a blank. No, this is 170,000 I can not get a man, I would give him at least 50000 points.” Rapidly I could react. So I credit manager, knowing smile … …
This is the first time I buy a house experience.
I later buy a house with similar experiences, that is: a firm does not dig a penny, all with the bank’s loans to buy a house; Then, if the investors met an unknown truth (said to be investors, in fact Shamao) to buy room, then sell him high. If you have not investors buy a house, then continued to increase their lending to house themselves, keep the money the banks use bank debt.
Also, I was pawn to open lines, the relationship with the bank average person can not compare. Common people buy a house, most choose 20-year mortgage, but I always buy a house loan for one year only, expired before of principal and interest. This operation, without pay for months. After the expiry of the loan, I just doing the “on paper” look to switch loans. In fact, I do not dig a penny.
Original Chinese below.
一、买房不掏钱，你是怎么操作的？
同学的话——
你知道，我的典当生意完全是靠钱生钱。第一次买房时，虽然我有能力一次性付清全款，但我还是不愿意那么多的现金被房子压死。那时，正流行“零首付”，于是，我一分钱没花，贷款18万买了房（贷款期限为一年）。
一年期满，要还房款和利息了。也不知道是我幸运呢？还是我倒霉！那时，我的资金被一笔业务占用了。为了业务，我不仅还不起房款不说，还得另外新增贷款。迫不得已，我找老关系——银行的信贷部经理沟兑。当我吞吞吐吐的把“延期还房款并另外新增贷款”的要求说出来后，没想到，信贷经理却诡秘的一笑，非常爽快的答应了。
信贷经理给我出的主意很简单：让我老婆，以两倍的价格，贷款买我的房子，贷款期限也是一年。
“两倍的贷款，那就是两倍的利息啊！你这不是变着方的剥削我吗？”我还没有反应过来。
“如果到时，你不还款呢？”信贷经理很镇定。
“啊……”
“被银行收房，没有什么大不了的！关键是除去税费后，我还凭空白得了17万。不，这17万我可不能一个人得，我至少要分给他5万。”很快，我反应过来。于是，我对信贷经理会心的一笑……
这，就是我第一次买房的经历。
我后来的买房经历都与此类似，也就是：坚决的不掏一分钱，全部用银行的贷款买房子；然后，如果遇见不明真象的投资者（说是投资者，其实是傻帽）买房，那就高价卖给他。如果一直没有投资者买房，那就不断的把自己的房子加价转贷给自己，不断的用银行的钱来还银行的债。
并且，我是开典当行的，与银行的关系是一般人无法比的。一般老百姓买房，大都选择20年按揭，而我买房从来都是只贷款一年，到期了才还本金和利息。这样操作，不用交月供。而贷款到期后，我只须做做“纸面文章”转贷款一下。实际上，我一分钱也不用掏。
Another story, 温州炒房团 内幕, quote
徐国明判断，如果说中国房地产市场局部过热，那么这个局部就是长三角的许多城市和深圳、北京、大连这样房价较高的城市，“在长三角，杭州、温州这样的城市，好一点的地块都要超过2万元每平方米，一套好一点的房子总价在300万元以上，这样的房价哪怕是年收入20万元以上的白领也很难承受。但在珠三角佛山、东莞和中山这样的城市，住宅均价普遍徘徊在5000-7000元，即使在广州，1万多元每平方米的价格已能买到不错的房子了。”
“东莞和佛山的富裕程度不在杭州、温州之下，总体水平很可能是在长三角城市之上，凭什么长三角城市的房价要比这些城市高2-3倍呢？”徐国明认为，珠三角多数城市的房价之所以长期比较平稳，主要是和珠三角楼市曾受1997年东南亚金融危机影响较深有关。“1997年到2002年，香港房价普遍下跌了三分之二以上，珠三角楼市也受到很大影响。而长三角城市对金融危机体会不深，所以幻想楼市单边向上的人比较多，房价也比较容易炒上去。”徐国明分析。
Man, all this reminds me of Shan Zhang Tou (三张头). Essentially the banks are playing this game on real estate market. Eventually some naive people will get to pay. I am sure the smart pawn-shop guy will walk away from the house(s). Because he does not have any equity !!!
(“三张头”赌博)