Rebirth of Hong Kong's tycoons, shorting Eagle Sauce

Jiertong, the vice president of Huanyu Real Estate, was completing the final handover with Wang Zhixin.

After signing the last document, Wang Zhixin would no longer be the chairman of Huanyu Group.

"I resigned, what did the other people on the board say?"

"They didn't react much, and their reaction was even a little indifferent."

Wang Zhixin nodded. In the past six months, he rarely attended board meetings on the grounds of illness, and Jiertong attended the meetings.

The major shareholders naturally ignored the representative of the Wang family, whose presence was not high.

And as the Wang Group slowly sold its shares in Huanyu Real Estate, the Wang family's control over Huanyu Real Estate was greatly weakened.

"Resell another 7% of the shares to Lingfeng Group!"

Jiertong was stunned when he heard the news. Although he knew that the Wang Group was withdrawing, he didn't expect it to be so straightforward.

If the transaction is completed, the Wang Group will no longer be the largest controlling shareholder of Huanyu Real Estate, and will even disappear from the ranking of the top five shareholders.

"Well, OK, I'll do it right away."

This announcement did attract some rumors, but most American people thought it was a good thing.

Because Wang Group is a company from Longguo anyway, and many people will lose sleep over this huge aircraft carrier.

Under the subtle propaganda of major capitals, the public thinks this is good news.

This announcement has once again stimulated the stock price of Universal Real Estate, but all this has little to do with the Wang family.

If he hadn't been worried about the bad influence, Wang Zhengyi would even want to sell off the last bit of shares.

It was the end of 2006, and no one realized that an unprecedented disaster was coming.

The Fed, feeling good, felt that America had escaped the influence of the Internet bubble and the plane crash, and began to raise interest rates.

It reached 3% in May 2005 and 4% in November 2005.

It reached 5% in June 2006 and 5.25 at the end of 2006!

When interest rates hit rock bottom in 2003 and 2004, many imprudent and impulsive borrowers obtained adjustable rate mortgages.

It seemed like a good deal at the time, but when interest rates reached 5.25%, people found that their mortgage rates had doubled!

This means that their actual negative interest rates have now reached high interest rates!

You have to know that people are greedy, and they often don't buy a house at such low interest rates.

The people of Cayman Capital did a market survey. An ordinary stripper bought five houses in the city center with loans. Once the interest rate was raised, she could not afford such a high mortgage with her salary.

This is not the most magical thing.

Rating agencies have loosened loan ratings, and some people even bought a house with loans in the name of their own dogs.

The masses of the United States found that their repayments were soaring rapidly, and then they realized that they had been deceived by real estate agencies. The letters from banks and institutions collecting debts swept in like waves and flooded their mailboxes.

This was not the last straw that broke the camel's back.

Because house prices have been rising since 2001.

The house prices in New York, San Francisco, Las Vegas, Washington, and Phoenix have all increased by more than 2 times.

The house prices in Los Angeles and Miami have even increased by nearly 3 times!

Speaking of multiples, you may not realize how terrible the increase is. Let's take the strippers that everyone loves to watch as an example.

In 2003, she bought a small apartment worth 200,000 US dollars in the suburbs of Las Vegas with a zero down payment and an adjustable interest rate.

Then she bought another 4 properties by mortgage.

By the beginning of 2007, the theoretical value of her property reached 3 million US dollars.

Maybe you who are watching her dance don't know that the other party is a multi-millionaire.

Theoretically, as long as she sells the property, she can enjoy life to her heart's content for the rest of her life.

But everything was paused when Wang Group withdrew.

She soon found that her income from stripping could not meet the doubling of the loan for the 5 houses.

The girl who could seize the opportunity to buy 5 houses had a high IQ. The first thing she thought of was to sell the house and repay part of the bank's debt.

She calculated that as long as she sold one apartment, she could repay half of the loan in advance.

But when she came to the real estate agency, she found that the office was full of people.

But this time everyone came to entrust the sale of the house.

She heard all bad news in the crowd.

A large number of second-hand houses appeared on the market, but because of the increase in interest rates, people who had been squeezed out had no ability to buy anymore.House.

The price of second-hand houses is falling rapidly.

There are two extremes in the house prices in Los Angeles. On the one hand, the price of existing houses is extremely high, and on the other hand, the price of second-hand houses is falling rapidly.

When there are only sellers in the market and no buyers, the smile on the face of the stripper is gone.

Her mailbox is flooded with debt collection letters from the bank, and the most common ones are standardized threatening oral language:

If she does not make up for the overdue mortgage and interest, they will have the right to reclaim her property!