Group 1: Current Real Estate Market Situation - The real estate market is experiencing a stark contrast between new home "false prosperity" and a "cliff-like" decline in second-hand homes, with a 7.23% year-on-year drop in average second-hand housing prices across 100 cities in April [4][5][6] - In some cities, new home prices have plummeted significantly, with examples showing a drop from 12,000 yuan per square meter to 4,388 yuan per square meter, indicating severe price reductions and unsold inventory [4][6][7] - The disparity in housing prices between first-tier cities and third- or fourth-tier cities is widening, leading to a significant loss of wealth for many families [6][7] Group 2: Investment Considerations - With declining deposit rates, cash savings are still considered a safer option compared to real estate investments, which have shown a depreciation of 7.23% year-on-year [9][19] - Experts suggest maintaining cash liquidity as a strategy during economic instability, with historical examples from business leaders advocating for reduced debt and increased cash flow [11][19] - The current market conditions indicate a significant decline in first-time homebuyer demand, with a 60% drop in purchasing intent among unmarried individuals over 30 years old [13] Group 3: Policy and Market Confidence - Despite recent policy measures aimed at stimulating the housing market, such as interest rate cuts, market confidence remains low, as evidenced by a surge in new listings following the removal of sales restrictions [14] - The inventory pressure is substantial, with over 10 million vacant homes nationwide, particularly in third- and fourth-tier cities, leading to a lack of upward price pressure [13][14] - The overall sentiment suggests that the era of continuously rising property prices has ended, and cash is viewed as a critical asset for future investment opportunities [19]