一沉百踩不利因素齊現

樓 市 上 升 時 ， 市 場 上 聽 到 的 都 是 好 消 息 ， 資 金 從 四 處 流 入 ， 令 樓 價 不 斷 上 升 。 流 入 的 資 金 越 多 ， 樓 價 就 升 得 越 高 ； 樓 價 越 是 上 升 ， 吸 引 的 資 金 就 越 多 ， 形 成 連 鎖 反 應 。 相 反 ， 樓 市 一 旦 轉 跌 ， 不 利 因 素 就 會 齊 齊 顯 現 。 當 大 量 投 資 者 決 定 把 物 業 套 現 掉 走 資 金 時 ， 就 會 出 現 誰 減 價 多 誰 就 套 現 快 的 情 況 ， 而 遲 出 的 損 失 可 能 更 大 ， 於 是 業 主 們 只 好 競 相 減 價 ， 互 相 踐 踏 。 
這 種 情 況 在 發 展 商 推 樓 花 盤 時 尤 為 明 顯 ， 樓 花 是 期 貨 ， 一 時 未 能 使 用 ， 不 適 合 用 家 購 買 ， 故 一 向 以 來 買 樓 花 的 主 要 是 投 機 者 和 投 資 者 。 然 而 ， 樓 市 下 跌 時 ， 市 場 上 根 本 沒 有 投 資 者 和 投 機 者 入 市 ， 令 樓 花 銷 售 極 之 困 難 。 發 展 商 往 往 被 逼 把 售 價 訂 得 比 二 手 市 場 上 還 低 ， 以 爭 奪 二 手 市 場 上 小 業 主 的 客 人 。 如 果 同 區 還 有 其 他 新 盤 的 話 ， 發 展 商 之 間 也 要 競 爭 ， 二 手 市 場 上 的 小 業 主 所 受 的 壓 力 就 更 為 沉 重 。 
再 者 ， 銀 行 往 往 在 這 個 時 落 雨 收 遮 ， 收 緊 按 揭 ， 提 高 息 率 ， 以 減 少 銀 行 的 風 險 ， 令 市 場 上 已 經 不 多 的 買 家 入 市 困 難 。 市 場 上 的 有 效 需 求 少 了 ， 樓 價 的 壓 力 就 更 大 。 
在 這 種 形 勢 下 ， 換 樓 的 用 家 亦 會 選 擇 先 賣 出 後 買 入 。 他 們 擔 心 一 旦 買 入 新 的 單 位 後 ， 如 果 原 先 的 單 位 賣 不 出 就 會 很 麻 煩 。 同 時 負 擔 兩 個 單 位 的 利 息 會 很 吃 力 ， 如 果 樓 價 升 ， 遲 些 可 以 賣 貴 點 那 還 值 得 ， 但 如 果 遲 些 可 能 賣 得 更 低 就 不 值 得 了 。 這 樣 一 來 ， 市 場 上 人 人 想 賣 樓 先 ， 而 不 敢 先 買 樓 ， 以 一 時 間 市 場 上 只 有 供 應 卻 缺 乏 需 求 ， 令 市 況 更 加 低 迷 。 所 以 一 旦 轉 勢 ， 不 利 因 素 就 齊 齊 出 現 ， 非 短 期 裏 可 以 恢 復 元 氣。