房价下跌后，吹牛的人也变少了

Core Viewpoint - The article discusses the decline of the real estate market in China, highlighting the shift in perception among middle-class individuals who once boasted about their wealth derived from property investments. It emphasizes that true wealth should not rely solely on a single asset like real estate, which has proven to be a debt-driven bubble [1][4][9]. Group 1: Market Changes - The real estate market has undergone significant changes over the past two years, leading to increased anxiety among previously confident middle-class individuals who now express feelings of being "harvested" by the housing market [3][4]. - The central bank's data reveals that real estate constitutes over 70% of household wealth in China, with an average housing asset value of 1.878 million yuan, creating an illusion of widespread wealth [4][7]. Group 2: Wealth Illusion - Many individuals, particularly those who entered the market during the price surge, have been living under a "wealth illusion," believing that rising property values equate to real financial security [4][7]. - The article argues that the perceived wealth from real estate is often illusory, as the low liquidity of property makes it difficult to convert assets into cash when needed, leading to significant losses during urgent sales [4][7]. Group 3: Investment Mindset - The article critiques the mindset of new middle-class individuals who equate rising property prices with financial success, warning against the dangers of investing heavily in real estate without a diversified asset strategy [5][9]. - It suggests that the current market conditions should prompt a reevaluation of investment strategies, advocating for rational asset allocation and long-term vision as the foundation for true financial stability [5][9].