My Age of Investment

  Chapter 718 The Emperor's New Clothes

  After driving for a while, the car arrived at Palo Alto’s villa.

  After Zhang Chenguang parked the car, Xia Jingxing got out of the car with Liu Hai and Jiang Ping.

  Walking out of the garage is the big garden of the villa. The afterglow of the setting sun scatters in the garden, coating the colorful flowers of the garden with a layer of gold.

  The wind blew gently that night, and the flowers were swaying, as if they were welcoming guests.

   Liu Hai gently sniffed the scent of flowers in the air, and said with a look of intoxication: "Jingxing, you will still enjoy life and decorate your home like a paradise, which is enviable!"

   Jiang Ping looked around, but nodded, "full of vitality of life, elegant sentiment."

   "Hey, by the way, I remember the last time I came here, it was still bald. Why did it suddenly change?"

  As soon as Liu Hai asked, he saw a person standing up in the garden.

  Kristina is wearing white T-shirts, jeans, and an off-white woven straw hat on her head, looking like a girl next door.

  The foreign girl is holding a shovel with mud in one hand, and waving the other hand to the three people in the distance.

   "What I said, I almost forgot that you still have a good help!" Liu Hai laughed.

  Xia Jingxing spread his hands, "No way, rural girls are so diligent, and they feel uncomfortable after three days of work, and they can't help it."

Liu Hai has nothing to do with this kind of old Versailles, so he can only shake his head and sigh, "Hey, it seems that I will go to the countryside in Texas someday to see if I can trick the two daughters-in-law to come back. There is nothing to ask for. I will plant flowers. Just plant the land."

   "Hahahaha~"

  Xia Jingxing and Jiang Ping all laughed.

   "Big Brother Liu Hai, Brother Jiang Ping, long time no see."

  The foreign girl walked over from a distance with a smile, and after a certain distance, she began to say hello in fluent Chinese.

  After approaching, the girl took off her straw hat and kept fanning herself in her hand.

   Sweat wet the skirt of the foreign girl, her hair on her forehead became a lock, and her blush was like a ripe apple.

   "What are you talking about? Smile so happy."

   Liu Hai glanced at Xia Jingxing and sold the latter directly.

   "Jing Xing praised you for farming well. He said that in the future, he would take you back to his rural hometown in Rongcheng to plant seedlings and grow beans."

  The foreign girl is not only not angry, but very happy, "Really? That's great! I like the idyllic life the most."

  The joy of the foreign girl is beyond words, regardless of the mud in her hands, grabbing Xia Jingxing's arm, "Wait for a while, let's go to China to help your grandpa farming, okay?"

  Xia Jingxing did not expect that the foreign girl was really excited. If the photos of her planting rice were taken by the BBC, wouldn’t it have new materials to smear China?

  Speaking of it, he didn't think about taking his grandfather to live in the city.

  His father also persuaded him for many years, but his grandfather would not listen at all. He has a very temperamental temper. The elderly may have become accustomed to the life of sunrise and sunset, and the social circle is also fixed in that small mountain village.

  Several people entered the villa talking and laughing.

  The maid and chef of the foreign girl Zhang Luo went to prepare dinner.

Xia Jingxing took Liu Hai and Jiang Ping upstairs and entered the study.

  The three of them sat on the armchairs, sipping tea and chatting.

   "What's the situation on the East Coast?"

  Xia Jingxing took the purple clay pot, gave Jiang Ping a cup of tea, and looked up at each other.

   Jiang Pingyan said calmly: "At first, I was a little skeptical about your judgment on the American property market. After reading the report sent back by the market research team these days, I completely dispelled this doubt."

   Gazing at Xia Jingxing, Jiang Ping paused and said, "Even if it doesn't collapse this year, it will collapse next year."

  Xia Jingxing had no joy or sorrow on her face, so she added a cup of tea to herself, and gently put the purple clay pot on the table.

The    city survey team was organized by him a few days ago, and two teams were formed.

  The Jiangping team is responsible for investigating the East Coast, and the Liu Hai team is responsible for investigating the West Coast.

  The two teams started investigating the real estate market in California and New York respectively, and finally merged in the central part of the country, and the survey areas were connected together, running through the map of the United States.

  The purpose of this arrangement is to grasp the real estate market in various states and economic regions of the United States.

  This is a very large investment. It is necessary to calm his own heart as well as the customer's heart.

  Only with the most detailed data, Gates and other LPs will get on the car with peace of mind.

  This kind of financial speculation also requires careful deployment. The same is true of Muddy Waters’ employing thousands of part-time personnel to stay at Ruixing’s stores around the clock.

  Jiang Ping supported the glasses on his nose, and continued: “The investigation team went deep into various neighborhoods, tracked the financial situation and income of hundreds of borrowers, and assessed the risk of each housing loan.

  We found that most people do not have the ability to continue repayment.

  In other words, there is no repayment ability at all, let alone continuous repayment.

  The reason why financial institutions lend to them is naturally to covet interest and commissions. Anyway, they can sell the debt package to Wall Street.

  This business has formed a complete industrial chain. From local banks to Wall Street investment banks, to large commercial banks and insurance, each institution can get a part of the benefits from this industrial chain.

  No one cares about whether house prices will fall or whether the borrower will not be able to pay back the money, because there is always a fool who will take over for them downstream. "

  Xia Jingxing nodded. Under the so-called avalanche, no snowflake is innocent. This is the case with the housing bubble in the United States.

  He turned his head to look at the bangs.

  Liu Hai smiled happily. “The situation on the West Coast is the same. In order to attract customers, banks have also launched many innovative housing loans.

  Not to mention zero down payment, they even played new tricks on repayment.

  For example, after buying a house with zero down payment, you can only pay 1% interest rate for the first three years. After three years, the interest rate will be adjusted to 4%, 5% or higher.

  This kind of floating interest rate directly solves the problem of low-income borrowers who can't even pay the interest of the previous periods. It is more tempting than zero down payment.

  Americans are accustomed to credit cards and advanced consumption, consumerism prevails, no one will think about what will happen if the loan is not repaid in three years.

  In addition, the real estate agent has paid a commission to sell the house, and he keeps boasting that the house price will rise. It will be a big deal to sell the house after three years, and it is more comfortable to move into the house of your choice ahead of time.

  Many low-income people or people with unstable economic incomes are fooled into getting into the car.

  There is also a product called "Home Equity Loan", which helps borrowers to finance loans.

What does that mean?

   Let me give an example, a one million dollar house, zero down payment to buy a house, one million dollars is all debt.

  When the house price rises to 1.2 million U.S. dollars, you can borrow 200,000 U.S. dollars and take the money to pay interest, which is more than enough.

  I read the report sent back by the city survey personnel, not to be a vacant market, I am simply sorry for the great scenes made by these little geniuses.

  A striptease girl bought five sets with tips from the guests;

  Mexican immigrants who pick strawberries have an annual income of 14,000 U.S. dollars, but they bought a house worth 700,000 U.S. dollars;

  There is even more exaggeration. Some people use the name of a pet dog to make a loan, which has also been approved.

  Don’t think this is magic, but reality.

  Bank loan officers who handled loans could only issue 10 loans a month in the previous two years, but now this number has ballooned to 60, which represents a six-fold increase in commission income.

  No one cares about whether the loan will go wrong, the most important thing is to issue the loan.

  Bank executives may also know that these loans are problematic, so they changed hands and sold the debt package to Wall Street, which in turn sold it to global investors.

  This is like the emperor’s new clothes. Everyone knows that there is a problem, but no one breaks it. "

  Xia Jingxing smiled, “It seems that this city survey is very interesting, so many interesting discoveries.”

   Liu Hai spread his hands, “It’s no surprise that the United States has its own national conditions and self-interest prevails.”

  (End of this chapter)