Group 1 - The logic of buying and selling houses has changed significantly over the past three years, with the myth that housing prices only rise being completely shattered [2][3] - In 2018, Li Ka-shing predicted a major reshuffle in housing prices within five years, which has now materialized with a nationwide decline in second-hand housing prices for 29 consecutive months, leading to an increase in listings to 7.3 million [3] - The average transaction cycle for second-hand houses has extended to 6.2 months, indicating a significant decrease in market liquidity [3] Group 2 - The holding costs for multiple property owners are increasing, with property management fees doubling over the past 20 years and expected to rise further due to inflation [5] - Maintenance costs for properties, especially high-rise buildings, are also increasing, with elevator maintenance costs potentially reaching hundreds of thousands over time [5] - New regulations starting in September require landlords to register rental contracts, which will increase transparency and could lead to reduced rental income for property owners [7] Group 3 - The rental market is becoming saturated, particularly in first-tier cities, with over 160,000 second-hand homes listed, and even a 20% price reduction fails to attract buyers [9] - Many landlords are struggling to cover property management fees as younger populations migrate to larger cities, leaving older homeowners with multiple properties [9] - Families facing these challenges can take various approaches to alleviate their burdens, such as assessing asset status and optimizing debt structures [11] Group 4 - Li Ka-shing's advice remains relevant: purchasing homes for personal use is advisable, but speculative buying for profit should be reconsidered [13]