Core Viewpoint - The emergence of "loan selling" in the real estate market reflects a troubling trend where homeowners are forced to take out loans to cover the gap when selling properties that have depreciated in value, leading to a cycle of financial distress and market instability [1][6]. Group 1: Current Market Situation - Homeowners like Zhang San, who purchased properties with significant loans, are now facing situations where their property values have plummeted, resulting in negative equity [3][4]. - The phenomenon of "loan selling" is becoming more common as many homeowners are unable to afford their mortgage payments due to declining incomes and rising financial pressures [10][11]. - This situation has led to a vicious cycle in the second-hand housing market, where properties are listed at prices below market expectations, further driving down regional property values [13][24]. Group 2: Types of Homeowners Affected - There are two main groups of homeowners affected: investors with multiple properties who are now facing losses due to falling prices and ordinary families who are struggling to meet mortgage payments [7][10]. - Investors are opting to sell off properties at a loss to recoup some funds, while ordinary families are considering selling their only homes to alleviate financial pressure [8][12]. Group 3: Banking Response - Banks are reluctant to support "loan selling" as it violates regulations and poses risks of increased bad debts, leading them to offer various relief options instead [13][16]. - Many banks are providing assistance to struggling homeowners through measures such as extending loan terms, lowering interest rates, and offering grace periods for repayments [18][19]. - The cost of foreclosure for banks is significant, as properties often sell for much less than the outstanding loan amounts, increasing their non-performing asset ratios [19][20]. Group 4: Market Dynamics - The ongoing pressure from homeowners adopting a "long pain is worse than short pain" mentality is intensifying the selling pressure in the second-hand housing market [20]. - The market is characterized by a buyer's market, with increasing price wars among sellers leading to further declines in property values [23].

Core Viewpoint - The phenomenon of "loan selling houses" is becoming a reality for many families, where they owe more on their mortgage than the current value of their home, leading to financial distress and the need for additional loans to cover the difference [1][2]. Group 1: Understanding "Loan Selling Houses" - "Loan selling houses" refers to the situation where homeowners sell their property but still owe money to the bank, effectively becoming "negative assets" [1]. - An example illustrates a homeowner who bought a house for 6 million but can only sell it for 3.6 million, resulting in a 2.4 million shortfall that requires taking out another loan [1]. Group 2: Reasons for "Loan Selling Houses" - The trend is driven by two main factors: a sudden decrease in income and a continuous decline in housing prices [4]. - Many homeowners initially felt secure in their ability to pay their mortgage, but job losses and reduced incomes have made monthly payments unmanageable [5][6]. - Housing prices have dropped for 42 consecutive months, with a significant decline in recent months, exacerbating the financial strain on homeowners [6]. Group 3: Consequences of "Loan Selling Houses" - Families face severe financial repercussions, losing their initial investment and potentially accruing additional debt, leading to a state akin to bankruptcy [2][12]. - The increase in homes for sale due to financial distress contributes to a downward spiral in housing prices, creating a vicious cycle of declining values [13]. - The broader societal impact includes reduced consumer spending and increased anxiety among families burdened by debt, posing risks to social stability [14].