核心观点止跌回稳的政策目标一定程度上对市场预期有所提振,但4 月以来边际下行压力再次加大。周期位置角度,行业量价快速下行阶段可能已经过去,核心区和好房子具备结构性亮点;出口承压阶段,产业政策宽松概率加大,后续关注节奏问题。去年4 月和9 月对应优质地产股的底部区间,当前股票位置较底部溢价并不大,且地产对于经济内循环的重要性不容忽视。重视具备区域和产品优势的龙头房企,以及拥有稳定现金流的龙头经纪、...
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