Core Insights - The obsession of Chinese citizens with home ownership is deeply ingrained, with buying a house seen as essential for marriage, education, and settling down, despite high property prices acting as a barrier [1] Group 1: Housing Affordability Issues - The average price of new residential properties in 100 cities reached 16,190 yuan per square meter in November 2022, while second-hand homes averaged 15,911 yuan per square meter, making it difficult for families to afford homes costing between 1.5 million to 2 million yuan [1] - Renting has become a secondary option for many young people, but rising rents in major cities add financial pressure, with a 45 square meter one-bedroom apartment in Shanghai costing around 4,500 yuan per month [2] Group 2: Financial Strain on Families - Many first-time homebuyers are forced to deplete their parents' life savings to afford down payments, raising concerns about the financial security of their parents in retirement [2] - The burden of long-term mortgages, often spanning 20 to 30 years, leads to significant monthly payments, which can exceed 5,000 yuan, leaving little disposable income for other expenses [4] Group 3: Declining Property Values - Since the second half of last year, property prices in many cities have begun to decline, with some cities experiencing price drops to levels seen three to five years ago, causing regret among those who purchased homes at high prices [6]