Chinese Give Up on Home Buying Plans Due to Stock Market Losses

tens of millions of Chinese investors' family "balance sheets" have been substantially modified.

Chinese brokers have seen traffic drop from hundreds of account openings per day down to low single digits as Chinese give up on the stock market.

 Beiqing Bao reporter visited a number of securities companies, business department, to see the scene are similar, very quiet. "Go on like this, I'm afraid someone Securities unemployed." In the lobby of a Wai Avenue business department of a securities company, a a sales manager looked up at the wall of the A-share charts and looked a bit sad.
He may not be as sad as those who lost money:
In this round of stock market crash, the market value of his stock fell from more than ¥1 million to ¥400 thousand, due to the market early, did not fall below the cost line, with the broader market rally, his stocks rebounded back to the market value of over ¥600 thousand.

About two weeks ago, Mr Rao think the stock market risk has been released is completed, he added more than ¥400 thousand into it. The results of his stock plummeted after a few days rose slightly. He deliberately open the "China Railway Construction" k line graph heavily loaded with his computer securities business hall. He pointed to the display on the wall five large Yinxian, he kept sighing, "not only no profit, but also a loss of more than ¥100 thousand, he has been caught up."
At least he didn't use leverage:
Working in a law firm Zhang Yuan in the beginning of the year after graduation accumulation of 200,000 yuan invested in the stock market, after several successive harvest limit, Zhang Yuan's paid 2% monthly interest, borrowed 200,000 yuan from loan sharks and dropped the stock market, "felt the stock market to make money too easy, I did not go to consider the risks."

In the first half, ST stocks have been stir-fried restructuring concept, a lot of buying shares of ST Zhang Yuan stock market had reached a peak of 800,000 yuan.

Continued to fall in June and July, Zhang Yuan's nightmare come. Shares he holds several fallen by two-thirds of the market value. "Tens of thousands of yuan gone every morning, every day is suffering."

Style cliff fall in the stock market this week, Zhang Yuan's stock market value fell below the cost line, the principal amount of the loss of nearly 100,000 yuan.

"I will not withdraw from the stock market, now is a loser's exit records, where the falls where you need to stand up." Zhang Yuan said that the stock market crash gave him a profound risk education.
Zhang isn't the only one hanging on to underwater shares (and representing a large amount of supply that could be unloaded as soon as turn profitable):
Two weeks ago, seeing the A-share rebound fatigue, Chen Fang began showings, which intends to take 300,000 yuan to do down payment. But accidentally, fast chips fancy house was robbed. In just two weeks, the "Oriental Fortune" and from about 50 yuan fell to the lowest 29 yuan. Wherein several consecutive limit, simply can not sell.
Others are shelving their home buying plans too:
August 26, Chen Fang's stock market value has fallen below the cost line since her market. She decisive "flesh" was. Friends group in the menu, she told everyone she shelved plans to buy a house.

Beiqing Bao Chen Fang told reporters, only a few dozen people "markets," the group, at least five of the original 80 to buy a house this year canceled the plan, the worst thing is to enter the stock market in May this year. "There is a friend, her family gave her ¥500,000 for a down payment, less than ¥200,000 remains, these days she's not in the mood to go to work and taking time off to rest at home."
Chinese investors are literally depressed.

Sohu: 股民称生活被股市暴跌改变:买房计划搁置

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