Core Insights - The article highlights the struggles of 150 million mortgage holders in China, emphasizing their financial stress and fear of job loss, which could lead to losing their homes and previous savings [4][6][16] Group 1: Financial Strain of Homeowners - Homeowners are burdened by high monthly mortgage payments, with many living paycheck to paycheck and relying on family support for child-rearing expenses [2][3] - The fear of unemployment is prevalent among homeowners, as losing income would jeopardize their ability to pay mortgages and result in the loss of their investments [3][6] - The article notes that the real estate market downturn has led to significant declines in property values, with some areas experiencing price drops of over 40% in three years [9][10] Group 2: Economic Impact of Falling Property Prices - The decline in property values is not just a personal issue for homeowners but poses a risk to the broader economy, potentially affecting various industries linked to real estate [10][12] - A significant drop in real estate investment could lead to a GDP growth slowdown of 2-3 percentage points, highlighting the interconnectedness of the housing market and overall economic health [10][12] - The article draws parallels with Japan's past economic struggles, illustrating the long-term consequences of falling property values on individuals and families [10] Group 3: Challenges in Stabilizing the Housing Market - Despite government efforts to stabilize the housing market, such as lowering interest rates and increasing liquidity, consumer confidence remains low, hindering recovery [12] - The article suggests that the current situation is more about economic stability than merely buying or selling homes, as many people are hesitant to take on long-term financial commitments [12] Group 4: Strategies for Homeowners - Homeowners are encouraged to focus on cash flow management, such as negotiating with banks for extended loan terms or temporarily only paying interest [13] - The article advises homeowners to consider selling non-core properties to free up cash and reduce financial burdens [13] - It also suggests exploring side jobs to increase income, emphasizing the importance of maintaining financial stability during challenging times [13]