I have repeatedly told you that many middle-class families going north to Guangzhou and Shenzhen are now substantially bankrupt. A $10 million house in 2021, a down payment of $3 million and a loan of $7 million, has turned out to be worth less than $7 million. Not only does this mean that you've lost 3 million yuan in three years, but it also means that the house has no asset value for you. It's pure debt. In other words, you're officially broke. ( The above calculations do not take into account interest )