Core Viewpoint - The current housing market situation is causing significant anxiety among young professionals, who feel trapped by their mortgage obligations while facing declining property values [2][3][4][7]. Group 1: Financial Pressure - Many individuals are working long hours not for career advancement, but to meet mortgage payments, leading to a sense of working for the bank rather than for themselves [3][4]. - The burden of mortgage payments creates a cycle of stress, where individuals feel compelled to maintain their properties despite falling values, fearing that selling would result in substantial financial loss [4][5][6]. Group 2: Emotional Impact - The emotional toll of the housing market is evident, with individuals experiencing anxiety and depression related to their financial situations and the value of their homes [5][6][7]. - The sentiment among young people is that owning a home, which was once seen as a source of security, has become a source of stress and a burden [3][4][7]. Group 3: Market Dynamics - The current market conditions show a disparity between buyers and sellers, with more individuals looking to sell than there are buyers, leading to stagnant prices and further financial strain [3][4]. - The fear of losing their homes and the associated financial security drives individuals to continue working hard, despite the lack of optimism about future property values [7][9].

本文来自微信公众号：毛豆吃不腻，首发于2025年9月2日，作者：毛豆，题图来自：AI生成 周末在家，聊到朋友圈都是晒小孩开学典礼的照片，有的高大上，有的条件不如意。 其中我说到之前那个看了几次房没买的表弟（详见：《买房不如租房》），他家给孩子转学了，新学校 的环境一言难尽。 我小孩说，真不明白，他们怎么就不买房让孩子上个环境好点的学校呢？ 我队友说，因为他们现在工作不稳定，因为没办法全款买房，因为怕背上房贷压力大，因为担心房价还 会跌。 我小孩撇嘴，表示不理解，这有什么压力的。 我马上接过话茬说，你不当家真是不知柴米油盐贵。 像我们这种上有老下有小，收入又不是很高的普通家庭，只要背上了房贷，那就像头驴一样根本停不下 来了。 你看我现在工作这么不顺心，想辞职都不敢，哪怕被工作累哭，也只能擦擦眼泪调整心态继续干。 不然我要是失业了，光靠你爸一个人赚钱，压力太大了。 队友听我说完，指着桌上的四盘菜对小孩说，要是你妈失业了，我们就不能这样吃香的喝辣的，想吃什 么就吃什么了。 说完，我俩沉默良久。 我家的房贷，每个月3500元左右。 一 我一个人的工资倒也能搞定， 虽然降薪了，可好歹还能覆盖房贷、物业费和水电燃气费。 ...

弟弟买房首付全由父母给，而我还不起房贷却不愿资助我一分钱 有时候我真的觉得，这个世界对女人太不公平了。尤其是像我这样的"三娃妈妈"，上有老、下有小，还背着一身沉重的房贷。每天早上醒来，第一件事不是 想吃什么早餐，而是看银行账户里还剩多少钱。那种窒息感，只有亲身经历过的人才懂。 2020年我在广州买的那套房，93平，总价295万。当时利率5.5%，首付95万，贷款200万。月供1万4，我工资到手9000，老公8500。每个月还完房贷，家里 只剩三千块出头。那时候我真的是咬着牙买的，心想再难也得撑，因为有了孩子，总得有个属于自己的家。 可我万万没想到，生活的难，不止是数字上的拮据，还有心里的委屈。最让我心寒的，不是银行的催款电话，也不是孩子的学费要交不上，而是我自己的父 母。 我弟弟去年买房，首付全是我爸妈出的。几十万，他们二话不说全掏了，还亲自跑前跑后帮他选房。可当我开口说家里房贷压力太大，能不能帮我一点点， 哪怕借个几万缓缓，父母的表情立刻就变了。我妈冷冷地说："你都嫁人了，房子是你和你老公的事，我们没义务帮。" 那一刻，我真的愣住了。眼泪就在眼眶里打转。我不是不懂他们的难，可我真没想到，原生家庭的偏心可以这 ...

Core Insights - The article highlights the shift in perception regarding homeownership, where owning a home, once seen as a symbol of success, is now viewed by many as a financial burden [6][25] - It discusses the increasing financial strain on homeowners, with many feeling envious of those who do not have mortgage obligations [6][25] Group 1: Financial Burden of Homeownership - Homeowners are facing significant financial pressure, with many struggling to meet monthly mortgage payments, which can exceed their disposable income [2][4] - The average household debt has reached alarming levels, with total liabilities surpassing 82.84 trillion yuan, equating to 67.4% of GDP, indicating that for every 100 yuan earned, 145 yuan is owed [8][10] - The article emphasizes that the financial strain is particularly acute for low-income families, who face a debt-to-income ratio significantly higher than the average [13][15] Group 2: Declining Property Values - Many homeowners are experiencing a decline in property values, with some properties reverting to prices seen several years ago, leading to feelings of regret among those who purchased at higher prices [10][12] - The article notes that in some cities, property values have dropped significantly, making it difficult for homeowners to sell their properties without incurring substantial losses [10][12] Group 3: Lifestyle Comparisons - The article contrasts the lifestyles of homeowners burdened by mortgages with those who rent or do not own property, highlighting the financial freedom enjoyed by non-homeowners [11][25] - It illustrates how homeowners often sacrifice personal enjoyment and financial flexibility due to their mortgage commitments, leading to a less fulfilling lifestyle [24][25] Group 4: Coping Strategies for Homeowners - The article suggests several strategies for homeowners to alleviate financial pressure, including reducing unnecessary expenses, seeking additional income sources, and negotiating with banks for more manageable repayment plans [17][21][23] - It emphasizes the importance of proactive financial management to avoid the severe consequences of mortgage default [22][23]

Core Insights - The burden of mortgage loans has become a significant economic pressure for contemporary Chinese families, with over 78 million households struggling to meet monthly mortgage payments [1][3] - The average mortgage payment-to-income ratio has reached 42%, significantly exceeding the internationally recognized reasonable level of 30%, indicating a state of financial strain for most households [1][3] - The debt-to-income ratio (DTI) for mortgage-holding families has reached an alarming 3.6 times, suggesting that it would take nearly four years of total income to pay off the mortgage debt [3] Mortgage Debt Statistics - As of June 2025, the total mortgage balance in China has risen to 56.7 trillion yuan, with a year-on-year growth rate of 5.2% [3] - The average housing price in first-tier cities increased by 4.7% from 2024 to 2025, while the actual disposable income growth for urban residents was only 3.2% during the same period [3] Impact on Family Life - A national survey in the first quarter of 2025 revealed that 64% of mortgage-holding families had to cut back on basic living expenses due to mortgage pressure, and 58% found it difficult to save effectively for the future [4] - The financial strain has led 37% of families to postpone or abandon plans for having children, indicating a profound impact on family planning and quality of life [4] Interest Rate Environment - The average interest rate for first-time home loans is currently 4.1%, a slight decrease of 0.2 percentage points from 2024, but this reduction has minimal impact on the financial burden of families already under significant debt [4] Employment Market Concerns - The urban unemployment rate reached 5.3% in the second quarter of 2025, with the unemployment rate for the 25-34 age group at 7.8%, exacerbating the anxiety of young mortgage-holding families [5] - The decline in property investment returns has disappointed families hoping to improve their financial situation through real estate appreciation, with new residential prices in 70 major cities rising only 2.1% in the first half of 2025, effectively close to zero when adjusted for inflation [5] Consumer Spending Trends - Mortgage pressure has led to an 8.7% year-on-year decrease in spending on non-essential items by mortgage-holding families in the first half of 2025, affecting sectors like automotive, high-end electronics, and tourism [5] - Families are exploring various strategies to alleviate their mortgage burden, with 32% considering renting out spare rooms and 26% contemplating downsizing to smaller homes [5] Government Response - In March 2025, multiple government departments issued measures to promote a stable and healthy real estate market, including encouraging banks to offer more flexible repayment options for qualifying mortgage families [6] - Long-term solutions to alleviate mortgage pressure require substantial income growth, a rational real estate market, diversified financial products, and prudent personal financial planning [6] Changing Attitudes Towards Homeownership - A survey in 2025 indicated that 43% of respondents aged 25-35 are not in a hurry to buy homes, a significant increase from 29% in 2020, reflecting a shift in values among younger generations [8] - The financial pressure from mortgages is prompting a reevaluation of housing as merely a residence rather than an investment tool, raising questions about the current housing system and personal financial choices [8]

Core Insights - The article highlights the increasing number of individuals unable to repay their mortgages, which is a growing concern amidst fluctuating housing prices [1][9]. Group 1: Housing Market Dynamics - The housing market is experiencing price fluctuations, with some areas seeing price corrections due to regulatory measures, which can create psychological pressure for existing mortgage holders [9][10]. - The traditional view of homeownership as a symbol of success is being challenged as many individuals face financial burdens due to mortgage repayments [3][7]. Group 2: Personal Stories and Impacts - Personal anecdotes illustrate the emotional and financial strain of mortgage debt, such as the case of Xiao Li, whose stable mortgage turned into a significant burden after a job loss [3][6]. - The narrative of Wang Ayi emphasizes the generational debt transfer, where parents feel obligated to support their children in home purchases, impacting their own financial stability [6][7]. Group 3: Coping Strategies - Individuals are exploring various strategies to cope with mortgage pressures, including reducing expenses, seeking additional income, or even opting to stop mortgage payments altogether [11]. - The case of Zhang demonstrates a shift towards prioritizing personal freedom and self-investment over maintaining homeownership under financial strain [11]. Group 4: Societal and Governmental Roles - The article calls for a balanced approach from both individuals and the government to address the challenges faced by mortgage holders, advocating for more supportive policies [10][15]. - It emphasizes the need for a more compassionate and humanized environment to help individuals navigate the complexities of mortgage debt and housing pressures [15].

Core Viewpoint - The perception that most Chinese households can easily access 200,000 yuan in cash is misleading, as it overlooks the uneven distribution of savings and other financial factors [1][8]. Summary by Relevant Sections Household Savings and Distribution - As of the end of 2021, the total savings of residents in China reached 103.34 trillion yuan, with an average savings of 73,000 yuan per person. However, only about 20% of households have savings of 200,000 yuan or more, indicating that approximately 1 billion households can actually access this amount [1][8]. Factors Limiting Cash Availability - A significant 65% of households have savings below 163,000 yuan, which highlights the disparity in savings distribution [1][8]. - The younger generation faces high debt levels, with nearly 90% of those born in the 1990s carrying debt that would take an average of 18 months of salary to repay, making it challenging for them to withdraw 200,000 yuan in cash [4][6]. - The burden of housing loans is substantial, with personal mortgage loans totaling 38.8 trillion yuan, affecting over 200 million households. Many of these households have savings below 100,000 yuan, further complicating their ability to access 200,000 yuan [6][8]. Income and Living Costs - Most households earn between 3,000 and 6,000 yuan per month, with a significant portion of their income allocated to daily expenses, including necessities and education. This financial strain, coupled with rising prices and income instability, makes it difficult for families to maintain a balance, let alone save 200,000 yuan [6][8].