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Core Viewpoint - The phenomenon of "mortgage inversion" is causing a significant repayment crisis for millions of homeowners, as many are now facing higher mortgage rates than new buyers, while property values have declined below the remaining mortgage balances [1][3][6]. Group 1: Mortgage Rate Discrepancies - Homeowners who purchased properties during the peak in 2021 are experiencing mortgage rates above 5.5%, while current first-time homebuyers are securing rates around 3.5% [3][5]. - The disparity in mortgage rates is leading to increased monthly payments for existing homeowners, with some paying nearly 3000 yuan more per month compared to new buyers [5][8]. Group 2: Negative Equity and Financial Strain - Many homeowners are now in a "negative asset" situation, where the market value of their homes is less than the remaining mortgage balance, forcing them to consider selling at a loss [6][8]. - A report indicates that the average price of second-hand residential properties in 100 cities has dropped by 7.6% year-on-year, with some key cities seeing declines of over 30% from peak values [8][14]. Group 3: Responses to the Crisis - Homeowners are advised to consider several strategies: selling at a loss to cut debt, maintaining payments while waiting for market recovery, renting out properties to cover mortgage payments, or negotiating with banks for relief measures [12][14]. - Banks have begun implementing relief measures, such as extending loan terms and reducing interest rates, to assist struggling homeowners [14][18]. Group 4: Broader Economic Implications - The decline in property values is expected to negatively impact consumer confidence, as real estate is a significant asset for most Chinese families [16][18]. - The psychological impact of seeing property values drop into negative territory can lead to a decrease in overall financial confidence and spending [16][18].