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In the past few years, a sudden pandemic has hit the global economy hard. China's real estate market is no exception, experiencing an unprecedented winter.
This cooling of the market has not only lamented people's feelings, but has also had a profound impact on migrant workers, civil engineering managers, contractors and construction companies.
At the beginning of the epidemic, everyone thought that it was only a temporary shock, after all, the epidemic will always pass, and the market will also recover. However, the truth is not as simple as everyone expected.
After the epidemic, the real estate market is still deserted, and many construction sites have been suspended. Why is this so?
Let's take a look at the supply and demand in the real estate market. China's real estate market has grown rapidly over the past decade or so, and many developers are desperately building houses to make a lot of money.
As time goes by, fewer and fewer people are buying houses, especially the younger generation's willingness to buy a house has dropped significantly. The post-80s and post-90s generations have basically bought houses, while the post-00s are more inclined to "lie flat" and are unwilling to bear the pressure of mortgages. More and more houses are being built, but fewer and fewer people are buying houses, and the overstock of inventory has become a big problem.
Secondly, the economic situation is not very optimistic. The global economy is slowing, trade is declining, and investment is shrinking. As a capital-intensive industry, real estate has naturally been hit hard. In addition, the local government has introduced policies such as purchase restrictions and social security restrictions, which have made the real estate market even worse. Housing prices have been speculated so high that ordinary people simply cannot afford them, and market demand has dropped sharply.
This cooling of the market has been a disaster for migrant workers, civil engineering managers, contractors and construction companies. Migrant workers may face the dilemma of having no work to do, and even if they have work, they may face wage arrears due to the weak real estate market.
I often hear villagers who go out to work in the village say that the wages have not been settled, half of the good construction sites have been settled, and the difference has not been settled for a year or two has not reached a third, and they have to take legal measures to get their wages back!
Unemployment is also rising and competition is becoming more fierce for civil engineering managers. In front of a limited number of positions, they may have to compete with hundreds of people to get a job offer.
According to a former colleague, he submitted tens of thousands of resumes before getting two interviews, and neither was successful. He said helplessly, maybe because the education is too low, he only has a college diploma, and now many companies require graduates of 985 and 211, and the minimum is also a bachelor's degree!
The life of the foremen is even more difficult. On the one hand, they may face the dilemma of not being able to recover the project payment; On the other hand, they need to face the pressure of workers to pay their wages.
This dilemma has put pressure on many contractors. I have a relative who has been a contractor for 20 years, and I asked him how he received his money. "I may have to ask my son and grandson to go to the company to collect this money, and I may not be able to collect it back!" He said with a blank face.
Construction companies, on the other hand, are at risk of layoffs, downsizing, and even bankruptcy due to lack of new projects and financial constraints. This predicament not only affects the survival of the company, but also affects the stability and development of the entire construction industry.
I used to work in a large construction company in a coastal area, and during the epidemic, the company had dozens of projects and thousands of managers. It's just that this year, it is said that there are only two projects left, and the entire company has less than 100 managers!
Faced with this situation, the construction industry and related practitioners really need to find a new way out.
On the one hand, scientific and technological innovation can be used to improve efficiency and reduce costs; On the other hand, you can expand your business and increase your revenue stream by diversifying. It's really not possible, and changing careers as soon as possible is also an option.
The ancients said: "The prodigal son does not change his money when he turns back". If this road doesn't work, then take a different path, and you can't go all the way to hit the wall when you walk into a dead end, right?
China's construction industry used to be a very prosperous industry. In the 90s of the last century, with the deepening of reform and opening up, the urbanization process accelerated, and the construction industry ushered in a golden period of development.
At that time, the contractors led thousands of migrant workers around the country and built high-rise buildings. At that time, migrant workers and contract foremen were the main force in urban construction, and they earned good rewards through hard work and improved living conditions.
However, with the development of the times, the market environment has changed dramatically. The cooling of the housing market caught many people off guard. Still, we should not let that make us lose faith in the future. Technological developments and changes in the market may bring new opportunities.
For example, the rise of emerging fields such as intelligent buildings and green buildings has provided a new development direction for the construction industry. Through technological innovation and diversification, the construction industry is likely to usher in a new spring.
In this process, migrant workers, civil engineering managers, contractors and construction companies all need to constantly learn and adapt to the new market environment. Only by constantly improving your skills and knowledge can you be invincible in the competition.
At the same time, the government also needs to introduce corresponding policies to support the transformation and upgrading of the construction industry, and provide more employment opportunities and guarantees for employees.
Personally, I believe that in the face of the current predicament, migrant workers, civil engineering managers, contractors and construction companies should actively look for new ways out. By constantly learning and adapting to new market conditions, they have the potential to find new opportunities in the future.
At the same time, the government and all sectors of society should also give them more support and help to provide them with more development opportunities and guarantees.
Finally, to conclude with a quote from an Internet buzzword: "Life is like the ocean, only the strong-willed can reach the other side." "I hope that everyone can maintain a positive and optimistic attitude in the face of difficulties, bravely face challenges and find new ways out.
So, what do you think about the current cooling of the real estate market? Do you have similar experiences and stories? Feel free to share your views and experiences in the comment section.
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