“房贷倒挂”与断供被热议，媒体：二者并没有直接关系

Core Viewpoint - The phenomenon of "mortgage inversion" is gaining attention as property prices decline, leading to market values falling below outstanding mortgage amounts, which raises concerns about potential defaults among homeowners [1][5][6]. Group 1: Mortgage Inversion Phenomenon - Homeowners are experiencing significant declines in property values, with some properties worth only half of their mortgage amounts, highlighting the impact of market fluctuations on personal finances [1][2]. - The average price of second-hand residential properties in 100 cities fell by 0.84% month-on-month and 7.60% year-on-year in October, indicating ongoing downward pressure on property prices [5]. - Some properties have seen price drops exceeding 40% compared to 2017 levels, contributing to the emergence of mortgage inversion cases [5][6]. Group 2: Default Risks and Responses - While there is a perception that mortgage inversion leads to defaults, most homeowners are willing to repay their loans, and actual default cases remain rare [1][6]. - Banks are implementing various relief measures to assist borrowers facing repayment difficulties, such as extending loan terms and reducing interest rates [7]. - Legal experts differentiate between "good" defaults, where borrowers genuinely cannot pay due to income loss, and "malicious" defaults, where borrowers have no intention to repay [6][7]. Group 3: Market Adjustments and Policy Responses - The real estate market is under pressure, with a high volume of listings and declining sales, leading to extended transaction times for properties [3][4]. - Recent government policies aimed at stimulating demand and supporting the real estate sector include tax incentives and easing purchase restrictions in major cities [8][9]. - The central government emphasizes the need for high-quality development in real estate and managing systemic risks associated with the sector [9].