Housing prices in Beijing, Shanghai, Guangzhou, and Shenzhen have fully fallen to the levels of 2016.

To be honest, seeing this data makes me feel very heavy-hearted.

On a macro level, we can only dare to scratch the surface and chat.

Housing prices continue to fall, the household sector enters a balance sheet reduction mode, not consuming, not investing, only repaying debts. The 1990s in Japan may be the worst possibility.

At the micro level, it is essential to avoid falling into the "low liquidity asset trap" and the "debt-driven cycle."

In the eyes of Chinese people, housing prices are not just numbers, but also a sense of security, a anchor point for hard work, and an imagination of the future. However, when the anchor point loosens, the pressure is imaginable.

It must be acknowledged that a trend is a trend, and it does not shift for will.

In my opinion, a house that is detached from its residential attributes is purely an investment product, which is essentially no different from a promising NFT or a counterfeit held in hand.

Now I have reached the age of having achieved some success and starting a family, so I repeatedly remind myself:

- Never let sunk costs, liabilities, and path dependence seal off the future.

- Always stay alert, light, and always retain the right to take another step forward.