The idea that falling housing prices will cause more pain to ordinary people has aroused widespread concern. What problems could be caused if mainland housing prices continue to plummet in 2024? While many people are hoping for housing prices to fall, this is not the case.
We might as well listen to an expert who has worked in the Ministry of Housing and Urban-Rural Development for 22 years to analyze the decline in housing prices, which may change our view. The drop in house prices is not just affecting property investors, but is affecting a wider range of people.
First of all, falling housing prices will shrink assets and make life more difficult for ordinary people. Many people follow the trend of buying a house, but if house prices fall, it can lead to the burning of the family's savings, a serious loss of wealth, and even a huge amount of loans.
Secondly, the recession of real estate will affect all links of the industrial chain, which will bring more unemployment problems. The cessation of construction by developers will lead to the closure of many related industries, and unemployed people such as migrant workers will face greater pressure to survive.
Third, falling housing prices will exacerbate urban traffic congestion, leading to an influx of rural people to cities, more strained urban resources, frequent traffic accidents, and challenges to medical resources.
Therefore, falling house prices are not a good thing, but may cause more problems. Do you think the drop in housing prices is good or bad? Feel free to leave a message in the comment area to share your thoughts and opinions.