In 2008, because of the real estate subprime mortgage crisis in the United States, we still remember it vividly. At that time, the American economy was hit hard, even involving many countries in the world. The American real estate bubble burst, the market was depressed and the inventory was overstocked. In the next few years, the overcapacity of real estate caused great harm to the American economy, and it took a very long process to clean up the overcapacity.
In order to digest a large amount of real estate inventory, the United States has introduced four major support policies. First, it implemented a quantitative easing monetary policy. A large amount of printing money is mainly used for infrastructure construction expenditure, stimulating the economy, revitalizing the stock of real estate, reducing taxes for enterprises and increasing market vitality.
At that time, Fannie Mae and Freddie Mac were the main sources of funds for mortgage loans in the United States, and the mortgage loans they held or guaranteed accounted for almost half of the total mortgage loans in the United States at that time. Affected by the bursting of the bubble in the American real estate market, Fannie Mae and Freddie Mac are in a full-scale crisis, and the real estate market and financial market are facing systemic risks. Later, the US government announced that it would take over Fannie Mae and Freddie Mac. According to the acquisition plan, the US Treasury will inject $654.38+000 billion into Fannie Mae and Freddie Mac by purchasing preferred shares. This is one of the largest and most complicated rescue plans in American history, and this policy has greatly promoted the stability of American housing and financial markets.
By 20 12, the United States is still implementing quantitative easing policy, including purchasing 40 billion US dollars of mortgage-backed bonds every month, which greatly improves the liquidity of the mortgage-backed bond market. In order to fully activate the real estate market, encourage foreign investors to buy houses in the United States and open the door to American real estate for overseas investors.
Under the joint action of many policies, coupled with the zero interest rate monetary policy at that time and a series of quantitative easing policies, the US property market began to stabilize gradually. Since 20 12, American housing prices have continued to rise, and the accelerated recovery of the property market has also promoted the growth of the American economy.
It can be seen that if the bursting of the real estate bubble will have a very serious impact on the national economy, it is precisely to realize the seriousness of this problem that we must speed up the establishment of an effective real estate regulation mechanism, fundamentally eliminate the property market bubble, avoid the financial crisis caused by the bursting of the bubble, and promote the healthy and stable development of the real estate market.