The Xiangjiang real estate market was not too hot right now. Although the price remained elevated, the number of sales was gradually decreasing and has recently hit a new low of 17 per month. What made it even worse was that Li Jiacheng, who had single-handedly pushed the Xiangjiang real estate market to its peak, had begun to sell his real estate assets for cash.
The perpetrator of this has already smelled a dangerous signal. How would the other real estate developers not sense it?
Once the interest rate returns to normal, the Xiangjiang real estate market would face immense pressure, the possibility of the "freefall" in 1997 was not out of the realm of possibility.
The bubble created by the insane construction of buildings put the cash flow of all real estate developers in an extremely tight situation, Nanfeng real estate was no exception.
