Core Viewpoint - The current market sentiment is characterized by an unprecedented level of caution, with many individuals preferring to hold cash rather than make purchases, even during the traditionally strong sales months of September and October [1][2] Group 1: Market Activity - Despite the prevailing market downturn, the Tianjin real estate market continues to see transactions, with new homes signing contracts for a total of 4.74 million square meters and 42,000 units by September, while second-hand homes accounted for 9.14 million square meters and 103,000 units [1] - On average, the monthly transaction volume for both new and second-hand homes in Tianjin is approximately 1.54 million square meters and 16,000 units, indicating that around 16,000 families are purchasing homes each month [3] Group 2: Buyer Categories - Four main categories of buyers are identified in the current market: 1. **Marriage Housing**: This category includes buyers across different income levels, with parents of young couples often financing the purchase of homes, viewing them as essential infrastructure for new families [4][5][6] 2. **Retirement Needs**: Older buyers, who cannot afford to wait, are seeking new homes either for necessary replacements due to living conditions or for quality upgrades, driven by their stable financial situations [8][9][10] 3. **School District Housing**: Parents prioritize purchasing homes in good school districts, viewing them as essential for their children's education, leading to continued activity in this segment despite overall market caution [11][12][15] 4. **Upgrading Needs**: Buyers looking to upgrade their living situations due to family growth or personal preferences are also active in the market, with many making full cash purchases [16][18][20] Group 3: Buyer Rationality - The notion that there are no completely irrational buyers in the current Tianjin market is emphasized, as those making purchases are not ignoring market conditions but rather considering them as one of many factors in their decision-making process [23][24][26] - The focus for these buyers is on addressing immediate housing needs rather than speculating on future market conditions, reinforcing the idea that homes are essential for living and happiness [28][29]