Recast youth

Chapter 995
to the company.

Before Wen Yueqi had a meeting with her subordinates, she prepared a computer for Ye Feng, so Chen Huang and the others were smoking and chatting, while Ye Feng was looking at the computer. There was nothing wrong with the computer page.

Install a multi-language pack and select it in the control panel.

But the webpage he wanted to browse was not working. The information websites he wanted to know were all in English. Ye Feng saw the dense English. Although he knew these words, it seemed that the efficiency was too slow. Some of them Ye Feng asked Li Liang to help him Let's face it, for Li Liang, browsing these websites is no different from Ye Feng's browsing domestic websites, and it's not that difficult.

It's just that Li Liang knew relatively little information, because he had never been exposed to securities after all, so he could only wait for Wen Yueqi to finish the meeting before asking her.

At 9:[-], Wen Yueqi finished the meeting, came to the office, looked at Ye Feng, and asked with a smile: "How did it go?"

"It looks rather difficult."

Ye Feng raised his head and said, "I am mainly exposed to Chinese in China, and now I feel a little uncomfortable looking at English web pages."

"It was always like this in the beginning. You'll get used to it."

Wen Yueqi walked in and didn't want to sit in the place that originally belonged to her. She found a seat at random, then turned to look at Li Liang and said, "Li Liang grew up in San Francisco. If you don't understand anything, you can ask." Him."

Ye Feng shook his head: "It's useless. A lot of information cannot be found online. What can be found online is usually the company's page and business direction introduction, but there is no actual useful information."

Wen Yueqi understood what Ye Feng meant. Ye Feng wanted to understand the U.S. mortgage market in depth.

"Okay, I don't have anything to do for a while this morning. You can ask me if you have anything." Wen Yueqi said to Ye Feng.

"You guys chat slowly while Ryoko and I go out for a walk."

Chen Huang didn't want to sit aside and listen to two people talking about the US economy, real estate, etc., so he found an excuse to run away from Li Liang. Then he glanced at Feng Zheng who was sitting, grabbed him, looked at him, and whispered, Don't keep it as a lightbulb, then take Feng Zheng out too.

"Chen Huang, a Yanjing native, is a bit talkative. Sister Qi, don't take it to heart." After seeing Chen Huang and the others leaving, Ye Feng explained in order to avoid Wen Yueqi's misunderstanding.

"Don't worry, it's hard for people like us to be brainwashed."

Wen Yueqi smiled, crossed her legs, looked at Ye Feng and said, "Tell me, what do you want to know about, is it related to mortgages?"

"That's one aspect."

Ye Feng nodded, thought for a moment, and asked, "I would like to know what the default rate of mortgage loans is this year. Is it higher than in previous years?"

Wen Yueqi said without thinking: "Yesterday, after you told me about the potential crisis of Freddie Mac and Fannie Mae, I specially asked someone to go to the financial institution to retrieve the data of the past three years. Compared with previous years, The default rate this year is quite high because the housing retention rate in the United States was close to 2004% in 70. In addition to meeting normal housing needs, many people have been joining the ranks of real estate speculation. With this At the same time, default rates have been climbing."

"There is another very interesting data. It is almost as you guessed. Starting last month, the prices of financial derivatives related to subprime mortgages have been slowly falling, and there is a tug-of-war." Wen Yueqi looked up at Ye Feng and said, "It seems You are not the only one who is looking down on financial derivatives related to subprime mortgages, but now the majority of people in the United States believe that real estate will not collapse, so in the past two years, the hidden dangers of U.S. real estate will still not break out."

Ye Feng nodded and said: "This is also a normal thing. The two institutions you mentioned yesterday, Freddie Mac and Fannie Mae, have the shadow of the federal government behind them. For the people, if the federal government cannot be trusted, they can also There is no one you can trust anymore."

"Yes, many people are proud of being Americans." Wen Yueqi nodded. She had thought the same thing before, but who could easily have thought that a government as big as the United States might not be able to save the city?
Although all this has not happened yet, Wen Yueqi compared the data of previous years yesterday afternoon and came to a shocking conclusion. This is not to say that American real estate is in decline now.

In fact, the real estate industry in the United States is still booming, with countless people buying houses every day. Through Fannie Mae and Freddie Mac, there are also countless investors buying mortgage securities packaged and placed in the secondary market.

But it was this kind of popularity that frightened Wen Yueqi. It felt a bit like a bubble economy. The simple truth is that the credit mechanism in the United States is very complete. Loans are a very common phenomenon, from houses to cars, from credit cards to phone bills. , loans are ubiquitous, locals rarely buy houses with full payment, and usually take out long-term loans.

But in the United States, unemployment and re-employment are very common for American people. How can these people with unstable or even no income buy a house?Because their credit rating does not meet the standard, they are defined as subprime credit borrowers, or subprime borrowers for short.

At this time, many financial institutions will come out and try their best to help these subprime borrowers with loans and earn commissions.

Ye Feng didn't speak for a short time. He had to understand deeply before deciding what to do. He thought for a while, then raised his head and asked Wen Yueqi in confusion: "Sister Qi, I have a question that I don't understand. I can understand the loan financial institution." , they all do it to make money, and there are even many middlemen who choose to hide the intermediary fees, so what about the American people, don’t they worry that the debt that suddenly breaks out in two years will not be paid out after they have borrowed so much money?”

"This is the difference from China."

Wen Yueqi smiled, looked up at Ye Feng and asked, "Do you know why people in China always save money and never take out loans?"

Ye Feng thought for a moment and said, "Because Chinese people have the habit of saving."

Wen Yueqi shook her head: "Wrong, it's not because of this, but because the people in the country are poor and they are afraid of being poor. Think about it, how long has it been since our country was founded? Over 60 years, it was the period when we had to eat from a big pot, use food stamps, and meat stamps. People who are poor or hungry, will they be willing to use money if they have it? Not willing, so they will have the habit of saving money."

At this point, Wen Yueqi paused: "In the final analysis, it is still a habit formed by poverty. Now there is a gap of several decades between China and the United States, whether it is life or economic gap. If another ten or 20 years pass, I want to take out regular loans." This kind of thing will gradually appear in China, and the people who save money are still the older generation in the 70s and [-]s, and it is difficult for the younger generation to save money."

Ye Feng couldn't help but glance at Wen Yueqi when he heard this.

A hit!

Before he was reborn in his previous life, it was the time when mobile apps were rampant, and various financial loan platforms such as Alipay, China Merchants Link, and Campus Loan were emerging. There were even many people at that time who specifically borrowed online loans.

Isn't this similar to the current subprime mortgage financial market in the United States?

"So, the questions you asked are a bit taken for granted. When money is easily available and borrowed, it is difficult for anyone to resist this temptation."

Wen Yueqi looked at Ye Feng and said with a smile: "Another point is that most people in the United States feel good about themselves. They will tell you if you don't understand that even a movie actor can become the governor. Maybe two In the next year, I can become the president. This is one of the main reasons why they borrow uncontrollably, that is, they take it for granted and ignore the fact that wishes are beautiful but reality is cruel."

(End of this chapter)