Desperate to rescue the housing market, Chinese authorities have devised many strange ideas. From giving discounts to accepting garlic as a downpayment, they recently issued bulk buying houses.
Since June, many places in Shanxi, Guangdong, Liaoning, Anhui, and Hubei have implemented policies related to group buying. The government encourages agencies, state-owned enterprises, institutions, colleges, universities, and scientific research institutions to buy commercial houses in bulk for better deals.
On July 8, authorities in Jilin Province issued a “Notice on Several Measures to further promote the stable development of the real estate market,” encouraging civil servants and other groups to buy houses.
This new measure has sparked heated discussions over the internet. Weibo V “IT Dazhi,” said, “It seems that if you don’t buy a house, the local government will be worried. Because if they can’t sell houses, they won’t make money, affecting the leaders’ career.”
Many people said that under the epidemic control, ordinary people had no money to be squeezed, and the authorities began to try to get money from their “civil servants.” One netizen said, “Ha ha ha, buying a house is also a task? Buy, buy, buy, one house to live in, one house for a vacation, one house for grandparents to live in, one house for entertainment.”
Other people believe the tax revenue from the housing sector reduces, making it difficult for most local governments to maintain operations. Hence pushing sales to generate income became essential.