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2020年一季度,GDP增速-6.8%,最难时刻过了吗?

发布于 2020-04-17

<section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">今天大家都在等统计局发布的经济数据,<strong>一季度GDP同比下降6.8%</strong>,创改革开放以来最低。</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong>GDP下滑超预期</strong>,国外疫情走势不明朗,市场上出现两种声音——期待V型反弹出现,或说没有必然的V型反弹。</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.5622254758418741" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG5My29IURgwSa2LW7CSf0TfVJIp8ibMNC0PNLU0v6FSzt6gvDqhG6n52BTm52dkweWyicpTwlkHe2SA/640?wx_fmt=png" data-type="png" data-w="1366" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">V型反弹是否会出现,还要看近期影响宏观经济走势的两大因素——工业、房地产业。</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="color: rgb(2, 30, 170);font-size: 16px;"><strong>2019年一季度经济环境好于预期主要体现在——</strong></span></section><section style="margin-left: 16px;margin-right: 16px;"><span style="color: rgb(2, 30, 170);font-size: 16px;"><strong>①房地产投资&amp;新开工&amp;施工面积好于预期;</strong></span></section><section style="margin-left: 16px;margin-right: 16px;"><span style="color: rgb(2, 30, 170);font-size: 16px;"><strong>②工业GDP的增速回升,从经济走势角度预测,宏观经济政策(货币+财政)有放松的压力</strong></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.44321533923303835" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG5My29IURgwSa2LW7CSf0TfTmlhp2rah5rfkIWLSibGt79xlq0z8ja8fDaiaBh8iatYIaebUeOic6NDzw/640?wx_fmt=png" data-type="png" data-w="1356" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">然而,<strong>2020年1季度,房地产行业并不好过——<br /></strong></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages js_insertlocalimg" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0TfpwTTkmibrtU4dkXFRmBgoSic6kNL8BB8LkYNNxnputAEoCwBE5A7y31g/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><span style="color: rgb(2, 30, 170);"><strong>2020年1季度,TOP50的销售规模1.3万亿元,同比下降了17%</strong></span>,疫情严重的2月行业规模同比下降了32%。<br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages js_insertlocalimg" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0TfdqtxpOxVHCQgHpog1qM1kupJciarC23BEaD9lTpzTls42kwapceR8ng/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">2020年1季度地产行业整体的蛋糕在变小,但TOP10的份额较2019年1季度提升了4%,而21-30名的开发商份额下降了2%,<span style="color: rgb(2, 30, 170);"><strong>在1季度中,头部房企率先以价换量,成功争取到更多的市场份额。</strong></span><br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages js_insertlocalimg" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0TfrxmwC9hsAnquicOeUGxCBbjVlZebIRFAh5Qic6diaHnucpKbpC2tYDlkw/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">拆开来看2020年1季度,TOP50房企是怎么分蛋糕的——<strong>随着腰部房企跟进“降价策略”,2020年3月,TOP10房企的份额有所回落</strong>,占比下降11%,而TOP11-20房企的份额得到一个补涨,占比上升8%。<br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages js_insertlocalimg" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0TfbNgkLq97g3OjjT3Cb0MMlRt9p6ibZXSibia5olqKnBAPVjXSPvTO9PpiaQ/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">整体来看,2020年1季度,TOP50房企操盘单价平均为1.27万/平,同比下降5%,尤其是<span style="color: rgb(2, 30, 170);"><strong>2月降价幅度最大,同比下降11%</strong></span>。</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages js_insertlocalimg" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0Tf2jNcKzoPtn54OShDW5Xol0jQzejjGQevciaCjoRFffyPb644Bn8r9fg/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">2020年1月,TOP50房企里仅有38%降价,到2月有50%,到三月有54%,<span style="color: rgb(2, 30, 170);"><strong>销售规模排行榜前50的开发商,有过半都选择在疫情期间降价出货,争取以价换量。</strong></span><br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages js_insertlocalimg" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0TfBsJpDKoj5BjDleA6td5zhDU7nQac6Ff24A7TLWvicfKqIibPdr5XKmoA/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><span style="color: rgb(2, 30, 170);"><strong>到3月头部房企操盘单价下调的占比还在提升</strong></span>,而腰部房企降价的占比则有所回落。<br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages js_insertlocalimg" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0TfjGCv3ILx35wRKic99Ra8cOQCT5mkkicH7B8icmySHWImKJuaM1AmUG2kw/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;color: rgb(2, 30, 170);"><strong>TOP50的房企降价激情不减,但降价幅度就相对稳定,在10-20%的区间里。</strong><br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages js_insertlocalimg" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0TfDj6BpPMqFkCMaVzeHMgh6xSmhibR6nn8oraqjHmsgwiaP3F2XiaiaDREGA/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">具体看每家房企的房价同比调整幅度,<span style="color: rgb(2, 30, 170);"><strong>头部房企虽然率先降价适应市场,但降价力度也是相对理性,而腰部房企的分化则比较明显</strong></span>。不同开发商也有不同策略——</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="2.94609375" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG5My29IURgwSa2LW7CSf0TfdlKVjh0VDibEDUrTrGt9ZJtyru2eGDRotkRACIgBDwzKF3HwicbnFvMg/640?wx_fmt=png" data-type="png" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">2020年3月,销售规模TOP10房企,降价房企增多,降价幅度减小;<br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0Tf3tOOfBXYarsV2g57jjnlHU0ujwbh1uoB1bxPLDcNGAyRUdoIRHv8PA/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">销售规模TOP11-20房企,降价房企减少,降价幅度处于高位;</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0Tf6afIXS22YT7bce9S9YzOcfGiaeuaicfQ08mCuDMaJ9MGACcibSxj2qvvw/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">销售规模TOP21-30房企,降价房企增多,降价幅度微涨;</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0Tfyw8goX9rLP7e3BAicLj35vWFJUOtuxGJa4IqOKQJWiap3ntLfibCYQw1g/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">销售规模TOP31-40房企,降价房企减少,降价幅度收窄;</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0Tfia0qvE59AIbaESyRCTOJ1Weq49qHYAZINprQdG2uNWT6Supk9GxiaRFA/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">销售规模TOP41-50房企,降价房企减少,降价幅度收窄。</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0Tfhiaag9sq2yxlJdWMpDtQJ9xcLhqZuynXmUZteJ1IlZrMREXqglafWoA/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">综合规模和单价来看,<span style="color: rgb(2, 30, 170);"><strong>2020年1季度,销售规模TOP50里,量价齐涨的房企有石榴、卓越、融信;以量换价的房企有24家,华夏幸福、建发等;以价换量的有恒大、万科、路劲</strong></span>。<br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.5625" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_jpg/zd226QNNqG5My29IURgwSa2LW7CSf0TfqNXc2fibXUFFRlfOL4tGexx1lgQfdsxKmbKJL9C7ia1xwh0dQSLUnkBg/640?wx_fmt=jpeg" data-type="jpeg" data-w="1280" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;color: rgb(2, 30, 170);"><strong>2020年1季度,开发商的销售端受阻,投资端自然也收到冲击,投资同比下跌20%左右,3月投资幅度明显收窄。</strong><br /></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="text-align: center;margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.39081325301204817" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG5My29IURgwSa2LW7CSf0TfXm8RA7Osa1eicmh0ISWNV7B7tfD8AR8wlyMNaKiclwnWf8G0fPtcwwBQ/640?wx_fmt=png" data-type="png" data-w="1328" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><span style="color: rgb(2, 30, 170);"><strong>消费端——国内消费、进口、出口增长低位徘徊,反映内需及外需疲弱</strong></span>,贸易战、全球经济放缓以及外资产业链外移大背景下影响凸显,今年疫情冲击使零售消费及出口同比下跌20%左右,3月出口数据跌幅明显收窄。</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="text-align: center;margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.42921013412816694" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG5My29IURgwSa2LW7CSf0TfibIQB8Nx4xR1IQNwn9DyDuvPKicxJ4PZW0qPXjLLM5VwibCB5q2QE9hog/640?wx_fmt=png" data-type="png" data-w="1342" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;color: rgb(2, 30, 170);"><strong>生产</strong><strong>端</strong>——<strong>今年2月制造业订单受疫情短暂拖累严重,但迅速在3月份修复性反弹。</strong></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="text-align: center;margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.4177215189873418" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG5My29IURgwSa2LW7CSf0TftmNTeO8aPRGeiaUeFRsMBGUrB76f3RKGUD3a9cNdydcUWCMuACry6JQ/640?wx_fmt=png" data-type="png" data-w="1343" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">从宏观周期来看,<span style="color: rgb(2, 30, 170);"><strong>制造业( PMI:采购经理指数)目前处于周期底部,大概率已进入复苏阶段。</strong></span></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="text-align: center;margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.4317817014446228" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG5My29IURgwSa2LW7CSf0TfM9Ky49vf2hsOI7mo8qbKEgYWcHZ6eC1ZNeZAJ8CHAooDRibiczCp8tHg/640?wx_fmt=png" data-type="png" data-w="1246" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">全球的制造业周期,2019年后半年出现荣枯线附近回暖迹象,<span style="color: rgb(2, 30, 170);"><strong>但今年疫情使PMI数据下滑严重,仍存在不确定的风险因素</strong></span>。</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="text-align: center;margin-left: 16px;margin-right: 16px;"><img class="rich_pages" data-ratio="0.6020725388601036" data-s="300,640" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG5My29IURgwSa2LW7CSf0TftIjm1uWzLWsJazg1zicIUzYicdVjNZMKBellGh8ROWf23ouSjprTheQw/640?wx_fmt=png" data-type="png" data-w="965" style="" /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><span style="color: rgb(2, 30, 170);"><strong>在房价明显下跌趋势,行业大哥夺路而逃,地价毫无松动,这样的情况下,加之内需疲软,出口低迷,经济放缓,疫情拖累,V型反弹怕是不易。</strong></span></span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;">政策会从供给侧入手,需求能刺激但政策空间有限(杠杆不好加),财政要发力主要还是减税降费。货币政策受限于外占和汇率,工业通缩但是主周期上行,百姓恐生通胀预期,有降准可能。</span></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><p><br /></p><section style="margin-right: 8px;margin-left: 8px;white-space: normal;font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 27.2px;text-align: center;"><span style="font-size: 12px;color: rgb(178, 178, 178);">—— 猜你想再看&nbsp;——</span></section><section style="margin-right: 8px;margin-left: 8px;white-space: normal;font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 27.2px;text-align: center;"><br /></section><section style="margin-right: 8px;margin-left: 8px;white-space: normal;font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 27.2px;"><strong><span style="font-size: 12px;">城市:</span></strong><span style="font-size: 12px;">|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831649&amp;idx=1&amp;sn=191239418c15b0c6f395c843415da5fd&amp;chksm=8351793eb426f028970ac64031955167bfde997cdc96375bfb3bce25b5076f1458e11be2be27&amp;token=217203186&amp;lang=zh_CN&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">徐州</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831649&amp;idx=4&amp;sn=3a8acfb05820bbd38cd7b15a58e92ec9&amp;chksm=8351793eb426f028dfd96ec6ffc5239a84aaf25b6643813aa6b4a597b9a3215e7ab25e2b4eaf&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">宿迁</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831649&amp;idx=3&amp;sn=1fcdc66fac79d5ba9504bc24314a14f9&amp;chksm=8351793eb426f02829eef9ba1dfcb8c3e91edb05d3c1d34c548b82f618928834f1da5907d2e7&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">淮北</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831649&amp;idx=2&amp;sn=18d65f24543e71ff6bc70eb1cb0a7bde&amp;chksm=8351793eb426f028b98805f0f7555bfc57e3aefe6c76e7ca8df0369ad5dcc4a593a011a9b029&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">唐山</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831649&amp;idx=5&amp;sn=9f550e5d1f6bd3becc92df723adedd61&amp;chksm=8351793eb426f0289523b13ecd4fcb3d227a3cb259a09e504d388ace5a5eb25ece3aecfe8d46&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">天津</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831491&amp;idx=4&amp;sn=4c4fb5ce9d25c1fe6012d719c5878c82&amp;chksm=8351799cb426f08a8a6b9f35c8db84ceac56401b6da4a6429d1bc5e3339251db372a5045c242&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">深汕</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831603&amp;idx=5&amp;sn=c2d8bae147d4a2d86ec992c50c39ddad&amp;chksm=8351796cb426f07a50b1acbe92593aabba12c3fb95e9966d93ecad99918dbcf654b9ce767405&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">哈尔滨</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831491&amp;idx=3&amp;sn=1e787f725d62f227dbc6c33d0b9ea3eb&amp;chksm=8351799cb426f08accd8896c160b37e7a4436d21e1fbf2cc596763115db5ef6e04dc914ce478&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">兰州</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831603&amp;idx=4&amp;sn=048088acd651254d77cc238d71b1af04&amp;chksm=8351796cb426f07a7c36e33460f244db68a856502151c73820b314470b7e24412b9a8b6dcd5b&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">常德</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831491&amp;idx=2&amp;sn=b6295a149a38a026e886d81014b568f3&amp;chksm=8351799cb426f08a8a8d7adbd8721956fd91c59be8bd1ec35d4f9963a11e7e67bee72cd49405&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">南宁</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831603&amp;idx=8&amp;sn=0efaff09c26e604d7aa5c29376c129ad&amp;chksm=8351796cb426f07abb37dd11a0cfe941868be2b543feebf288460418759254327292658947ae&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">桂林</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831603&amp;idx=3&amp;sn=12f08ffb076544edcbc24e91bc3d87d7&amp;chksm=8351796cb426f07a1cd4530a9033d462d4732c500dcdda723bdc3a87f4d55f1c62f657a4cb77&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">柳州</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831603&amp;idx=6&amp;sn=0a89c4ab17039cec25754aa111b87308&amp;chksm=8351796cb426f07a6fdc14a1c0e877928f2fa46798a8b592b2b2023ad1c65081bbc80b2fafad&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">蚌埠</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831603&amp;idx=7&amp;sn=1bc72e377ffc3b621c2886d68c437515&amp;chksm=8351796cb426f07adc8c50a3e1409197892c508ad9c27a6b52f8e4dde12740baf5674f5a7fa6&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">合肥</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831491&amp;idx=1&amp;sn=10e3d481f7fd0ff46dafe2648cd3ddfb&amp;chksm=8351799cb426f08a5118705d6b85487fa97dd013a2aee842be719ee13086aab8dee370b54185&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">南京</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831603&amp;idx=1&amp;sn=9ffda0c7d9667d6700966a8bab12eccf&amp;chksm=8351796cb426f07a4e94a2471b2d59264ed4460e0567c63095fad9c5704541a546d7bc23584a&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">上海临港</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831065&amp;idx=1&amp;sn=2ffb60d98d02ebcab655c55d34d0acbf&amp;chksm=83517746b426fe509cc721e0e3acf05fd1f60b8695dc3b66c08c0a7aa917e7471b013b02c2c2&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">太原</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830804&amp;idx=1&amp;sn=f571d8218b897b21571a6b2f497d3a1b&amp;chksm=8351744bb426fd5d509591673f4082563a02342283f53dfda255ad33304e6746d6448051b9ea&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">温州</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830454&amp;idx=1&amp;sn=4e7c3289190e2a69c5fb20f2ae8a6d94&amp;chksm=835175e9b426fcffa5f65cafe5274b1c296caf1a51e13ef4c7920c5a18847bef3c7b13c2bfd0&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">昆明</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830295&amp;idx=1&amp;sn=f680ffa2ddf52783e9a7730971520d48&amp;chksm=83517248b426fb5e0efc1e5c62d15b173e4d23ab7aafaab82c6ce861e98d96271fe5dc7db798&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">嘉兴</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830278&amp;idx=1&amp;sn=8441ac780477cd9def8d4e9d7866f143&amp;chksm=83517259b426fb4f93ff50f1c07d7b830f16ec4d1e0c23f64ef15a78a056ae301274ffbb8ec3&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">重庆</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830196&amp;idx=1&amp;sn=7a599cf338734c1d41c6fa16005b1641&amp;chksm=835172ebb426fbfdda6873adbeddc124ae670de675a7c36d11977106150a1d924572ea70f299&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">成都</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830221&amp;idx=1&amp;sn=f5994dbfe9fa00ffce4b5be1a69f3244&amp;chksm=83517292b426fb8419e771cf48ea94de01fc7dc909b4e8c2759c6423b8be6080bc5bd1c248cc&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">深圳</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649829995&amp;idx=1&amp;sn=cd78421e4f2e724f552f8eefc65e0236&amp;chksm=835173b4b426faa26aed46ed566bc1f8ffa11498370fed14fa9d0690795a3eff5a186c63a03d&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">上海</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649829512&amp;idx=1&amp;sn=421f2b766d75009082de8fc1e81cd8d2&amp;chksm=83517157b426f84197c93fd852a3e3f93019c9d81e099784ad0aa09f326ca9dd33a0edb7cfd7&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">珠三角</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649829480&amp;idx=1&amp;sn=c77baf137c109f1017170a708548d37b&amp;chksm=835171b7b426f8a1d942708988b8f4bd875366f5928d1db99470ccad6958aa0c8cd47b292c23&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">雄安新区</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=401964235&amp;idx=1&amp;sn=8839375241e6a7e69f49aec108ca1ad6&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">无锡</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=203026648&amp;idx=1&amp;sn=466dca69ff3eb746e2e5c21831d57f0f&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">北京</a>&nbsp;|&nbsp;<br /></span></section><section style="margin-right: 8px;margin-left: 8px;white-space: normal;font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);line-height: 27.2px;"><strong><span style="font-size: 12px;">热点:</span></strong><span style="font-size: 12px;">|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzIxMTUxMzE2Mw==&amp;mid=2247485505&amp;idx=1&amp;sn=90a4482d0ec14f8a4d441f77c653806c&amp;chksm=97557265a022fb7385559a6648c54242c721582b3811ad664360ea1e6f562f0f62264852c20c&amp;scene=21#wechat_redirect" target="_blank" data-itemshowtype="0" data-linktype="2">深圳土拍</a></span><strong><span style="font-size: 12px;">&nbsp;</span></strong><span style="font-size: 12px;">|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831957&amp;idx=1&amp;sn=a889b497d60264ef90aea585e4d4556f&amp;chksm=83517bcab426f2dc5e2b3778bc8e8834b453c4eac98c490ebeb525c4a5b01093fe602418b8fb&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">美国地产</a>&nbsp;|&nbsp;</span><a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831073&amp;idx=1&amp;sn=b9e813dced68e2e1397bd2cc2b6d05c7&amp;chksm=8351777eb426fe68993e996d9312897701ad0e93a7703c5d719dc20ebf09a1b0c6715f502e4d&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2"><span style="font-size: 12px;">长租公寓</span></a><span style="font-size: 12px;">&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830578&amp;idx=1&amp;sn=73f5149b299d5ce19a433c365eedee83&amp;chksm=8351756db426fc7b173558a1765830766ec5f7fb387e652250f10a106ef6490821f809722cfb&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">中美贸易战</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830503&amp;idx=1&amp;sn=2fae9eec64a6ed71f0c4ee9e4e9bafe7&amp;chksm=835175b8b426fcaec41bb2a484ef939ac78474c77acde2d96a6f7f8b61a0f4ade630c13e7f90&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">粤港澳</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830398&amp;idx=1&amp;sn=ffd40b9cb7730bd712d8f053280d6fa9&amp;chksm=83517221b426fb37e97b45db61547227724f5a09e6a2a0484a55475066ac41fc1b0165954d0d&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">万科商业</a>&nbsp;|&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830360&amp;idx=1&amp;sn=3cea24af7ebf848fde74c52538f111e5&amp;chksm=83517207b426fb11a1ae1c301117e9626ba09012aa9d8b4d8f722e45423ecb7e63987f50bec5&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">2018年走势</a>&nbsp;|<br /></span></section><section style="margin-right: 8px;margin-left: 8px;white-space: normal;font-family: -apple-system-font, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;background-color: rgb(255, 255, 255);"><strong><span style="font-size: 12px;">专业:</span></strong><span style="font-size: 12px;">|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831987&amp;idx=1&amp;sn=8553537eb64de48a9b7eb16564fe8988&amp;chksm=83517becb426f2fa0c63ef59ace65085334609b45795331170f0edb7f455d154c06d53aa85f7&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">穿越熊市</a></span>&nbsp;<span style="font-size: 12px;">|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831371&amp;idx=1&amp;sn=9b15fe316680aabc64e2b7c37e5767d8&amp;chksm=83517614b426ff0229de8ab490c6a7fb33f9e7de34bae145abd3565818c5965c1eca5a4b0029&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">地产研报</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831103&amp;idx=1&amp;sn=6ae2c7ba214abd19c76ed907399b77b7&amp;chksm=83517760b426fe767422812a59d53a334c00664a2cc146d59a076bc0e59a062f518c7df00861&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">投资</a>&nbsp;|<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649831043&amp;idx=1&amp;sn=dcae4bb0d9c69a6aefeb48f7447dff10&amp;chksm=8351775cb426fe4a32f43b1fe3a11ebffb7d381291adc0746d6d0ed9f3efb882617e0407aa10&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2">&nbsp;思考</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830765&amp;idx=1&amp;sn=d21dbefeb5e1aea1599bcec8fae7a7d4&amp;chksm=835174b2b426fda4b66776ffb3da368f2b71e44233e17581d647b246e52aa53255140e3adac0&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">客研</a>&nbsp;|&nbsp;<a href="http://mp.weixin.qq.com/s?__biz=MzAxMDEzOTgyNA==&amp;mid=2649830698&amp;idx=1&amp;sn=27ffa7f097500e9e7fb23f99fdce51ef&amp;chksm=835174f5b426fde3854d2eec6dc6fd1c0c182faa0218d1b0ce833e50c860c23b062b88f914e0&amp;scene=21#wechat_redirect" target="_blank" data-linktype="2" style="outline: currentcolor none 0px;">高周转</a>&nbsp;|&nbsp;<a 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