楼市大局已定！45%有多套房的家庭，将要面临这4个难题

Core Viewpoint - The domestic real estate market in China has entered a long-term adjustment phase since 2022, with average housing prices dropping over 30%, and some cities experiencing declines exceeding 50% [1][3]. Group 1: Market Trends - The adjustment began with second and third-tier cities like Tianjin, Zhengzhou, and Wuhan, followed by first-tier cities such as Shanghai and Shenzhen joining the trend [1]. - The overall market adjustment is deemed inevitable despite various government policies aimed at stimulating the market [1]. Group 2: Challenges for Multi-Property Owners - Households owning multiple properties face significant challenges, with over 45% of such families in China [3]. - Difficulty in selling second-hand properties has increased, attributed to rising listings and shrinking demand, leading to a supply-demand imbalance [5]. - The economic downturn has resulted in reduced household incomes, making it harder for families to afford high property prices, causing many to postpone buying plans [5]. Group 3: Financial Pressures - Monthly mortgage pressures are intensifying for multi-property owners, as many are experiencing declining incomes while maintaining high mortgage payments [6][8]. - An example is provided of a property owner whose property value has dropped significantly, yet they continue to face the same mortgage payment due to fixed-rate contracts [8]. Group 4: Rising Holding Costs - The costs associated with maintaining multiple properties are increasing, including property management fees and other related expenses, which are expected to rise annually due to inflation [10]. - Families with multiple properties are feeling the strain of these rising costs, which adds to their financial burden [10]. Group 5: Rental Market Challenges - The strategy of "renting to pay mortgages" is becoming increasingly difficult, especially in lower-tier cities where rental demand is weak due to population outflows [12]. - In major cities like Shanghai and Shenzhen, rental prices are also declining, making it challenging for property owners to rely on rental income to cover mortgage payments [12]. - The current market conditions suggest that property owners should consider selling excess properties while prices are still relatively high to secure cash [12].