美国次贷危机时房地产公司问题为何影响不严重  

Why was the Impact of Real Estate Company Problems Less Severe During the U.S.Subprime Mortgage Crisis?

作　　者：周琼 

机构地区：[1]中国邮政储蓄银行投资银行部,北京100808

出　　处：《中国房地产金融》2023年第5期30-36,共7页China Real Estate Finance

摘　　要：美国次贷危机中,虽然房地产公司出现不少破产和退出市场,但对经济总体影响有限。原因主要有:一是房地产公司规模不大,资产负债率不高;二是期房销售占比少,预售资金严格监管;三是房地产公司可灵活调整价格出售土地和房产,以应对市场变化;四是有股权资金注入和并购重组等市场化机制解决。During the subprime mortgage crisis in the United States,although there have been many bankruptcies and withdrawals of real estate companies from the market,the overall impact on the economy has been limited.The reasons are mainly:first,real estate companies are not large in scale and their asset-liability ratio is not high;second,the proportion of sales of forward delivery housing is small,and pre-sale funds are strictly supervised;third,real estate companies can flexibly adjust the price to sell land and property to cope with changes in the market;and fourth,there is a market-based mechanism for the injection of equity funds and mergers and restructuring to resolve the problem.

关 键 词：房地产公司 美国次贷危机 资产负债率 并购重组 

分 类 号：F29[经济管理—国民经济]