Core Viewpoint - The recent ruling by the Supreme People's Court provides a significant breakthrough for homebuyers facing the "nightmare" of unfinished properties, allowing them to terminate contracts and cease mortgage payments if their homes are not delivered on time [6][8][19]. Group 1: Causes of Unfinished Properties - The prevalence of unfinished properties is attributed to various factors, including developers' financial difficulties and the systemic issues related to the pre-sale system, which places undue financial pressure on homebuyers [5][10]. - The lack of clear contractual responsibilities has left homebuyers vulnerable, often resulting in a cycle of debt and legal challenges that favor banks and developers [5][10]. Group 2: Supreme Court's Ruling - The Supreme People's Court's ruling allows homebuyers to legally terminate contracts and mortgage agreements if their properties are not delivered, relieving them of financial obligations [6][8]. - A case example illustrates that a homebuyer was able to recover their down payment and mortgage payments, with the developer held responsible for the loan repayment [8][19]. Group 3: Implications for the Real Estate Market - The ruling signifies a shift in the legal landscape, potentially leading to a transition from a pre-sale system to a model focused on completed properties, thereby enhancing buyer protections [12][21]. - Developers will face stricter consequences for failing to deliver properties, while banks will need to adopt more rigorous assessments of developers' financial stability before granting loans [19][21]. Group 4: Future Market Dynamics - The new legal framework is expected to create a more transparent and equitable real estate market, reducing risks for homebuyers and restoring confidence in property transactions [21][22]. - The ruling marks a pivotal change in the relationship between homebuyers, developers, and banks, fostering a more balanced environment where homebuyers are no longer at a disadvantage [21][22].