Core Viewpoint - The real estate market has experienced a significant downturn since 2021, with prices in some areas plummeting to unprecedented lows, highlighting the risks associated with investing in properties in economically stagnant regions [1][3]. Group 1: Market Trends - The once-booming real estate market has seen drastic price reductions, with some properties dropping from 40,000 yuan per unit to 3,000 yuan per square meter [1]. - In Zhangjiakou's Xiahuayuan District, properties can be purchased for as low as 1,000 yuan per square meter, a stark contrast to the peak price of 12,000 yuan per square meter in 2019, representing a 96% decline [6][8]. Group 2: Factors Contributing to Price Decline - Aging properties and poor quality are significant factors, as many low-priced homes are old coal mine staff quarters, making them unattractive to buyers [8]. - An oversupply of new developments has saturated the market, leading to a decrease in property prices due to increased competition among sellers [8]. - The lack of supporting industries has resulted in severe population decline, from 100,000 residents a decade ago to only 60,000 today, which has further diminished demand for housing [8]. Group 3: Investment Lessons - Investors should avoid areas lacking industry support, population influx, and future prospects, as these regions pose high risks and potential for rapid depreciation [10]. - Proximity to major cities does not guarantee property appreciation; areas without economic foundations may become undesirable investments [10]. - Old properties, while seemingly cheap, may present significant challenges in terms of resale and rental potential, as their age can deter buyers and renters alike [10].