Inflation-adjusted home prices in China have fallen below where they started two decades ago, and the fiscal fallout is hitting local governments even harder than developers.
If you just bought (assuming standard 30 yr mortgage), all you have to do is hold through it. Refinance if that becomes favorable.
The only losers are those who are free and clear or toward the end of their mortgage AND looking to utilize the equity they built up, OR anyone looking to sell. The solution is time, which can kinda suck, but it’s vastly preferable to not having a place to live.
If you just bought (assuming standard 30 yr mortgage), all you have to do is hold through it. Refinance if that becomes favorable.
The only losers are those who are free and clear or toward the end of their mortgage AND looking to utilize the equity they built up, OR anyone looking to sell. The solution is time, which can kinda suck, but it’s vastly preferable to not having a place to live.