Core Viewpoint - The real estate market is experiencing significant price declines across major cities, with many households facing challenges related to property ownership and liquidity as home values decrease. Group 1: Price Declines - Major cities have seen substantial price corrections, with Wenzhou experiencing the largest drop of -63.14%, while cities like Dongguan and Huizhou follow with declines of -58.82% and -49.01% respectively [1][2] - Current home prices in various cities are significantly lower than historical peaks, indicating a trend of decreasing property values [1][2] Group 2: Challenges for Homeowners - Approximately 45% of households own multiple properties, and many are struggling with the difficulty of liquidating these assets as market demand wanes [4][10] - Homeowners are facing three main challenges: wealth depreciation due to falling property values, increasing holding costs, and difficulties in renting out properties [10][12][14] - The cost of maintaining multiple properties is rising, with expenses such as property management, repairs, and potential future property taxes adding financial pressure [12][16] Group 3: Market Dynamics - The oversupply of housing options, particularly after significant government stimulus measures, has led to increased vacancy rates and reduced demand for traditional real estate investments [6][8] - A shift in demographic trends, including declining birth rates and slower urbanization, is contributing to a decrease in housing demand, making it less likely for prices to rebound [8][10]