从贷款买房到贷款卖房？部分高位购房者陷“房贷倒挂”，寻求补缺口

Core Insights - The article highlights the increasing financial risks faced by homeowners who purchased properties at high leverage during the peak of the real estate market in 2021, particularly in regions where property prices are now declining [1][4][5] - It discusses the challenges these homeowners face in selling their properties, as the sale proceeds often do not cover outstanding mortgage balances, leading to significant financial strain [2][3][4] Group 1: Homeowner Experiences - Homeowners like Zheng Hao and Li Ming are experiencing severe financial distress due to the decline in property values, with Zheng's property value dropping from 340 million to 230 million, leaving him with a 30 million shortfall after selling [2][3] - Li Ming, who purchased a property for over 500 million, now faces a market value of only 249 million, resulting in a 31 million gap if he sells [3][4] - The trend of "selling properties insufficient to repay loans" has become more common, particularly among investors who entered the market during the high price period [4][5] Group 2: Financial Strategies and Risks - Homeowners are exploring various strategies to manage their financial burdens, including borrowing from friends or seeking bridge loans, but these options come with high-interest rates and risks [5][6] - Some homeowners are considering applying for loan repayment pauses, but face strict approval processes and uncertainty [6][7] - The emergence of intermediaries claiming to assist with "debt relief" raises concerns about potential scams and the effectiveness of their services [6][7] Group 3: Market and Regulatory Insights - Experts suggest that the current situation reflects the need for a more robust market risk-sharing mechanism to protect homeowners and stabilize the financial system [1][7] - The article discusses the potential benefits of adopting a "non-recourse loan" system, similar to that in some U.S. states, which could alleviate the burden on homeowners when property values decline [7][8] - However, there are differing opinions on the feasibility of such a system, with concerns that it may increase risks for banks in the current economic environment [8]