China's housing market has collapsed. Homes for only $4,000.

Added: 2026-05-31

[00:00:01]A small courtyard in La Shano, right next to the sea. Perfect for living in or running a guest house.

[00:00:11]Isn't the view, a city where you can buy a condo for 20,000 30,000 R&B in cash. Hello everyone, I'm Xiaoing living in Fushen City. Today I'm recommending a property located in Chu Chong Community, Fushian City, Lea Ning Province. It's on the fifth floor of a seven-story building, not the top floor. It's a 51 square meter with partial finishes, two-bedroom condo, the middle unit in a three unit with three southacing rooms. The community has gas, a pleasant environment, and is very peaceful. The condo has underfloor heating and has full appliances. You can move in immediately. A morning market in a supermarket are 10-minute walks away.

[00:00:57]I bought a small condo in F Chong Shandong for $4,400 in cash as my retirement home. It's springtime now and the trees in the community are in bloom, which is very beautiful. With the warmer weather, the whole community feels more lively. The elderly prefer to come out for walks and enjoy the sunshine when the weather is nice. Sunlight chatting or playing chess or cards. This is the school in the neighborhood, making it very convenient for children to go home after school.

[00:01:25]A single mother suffering from depression finally had a home with her child after spending $5,100 on a condo in a foreign city. Now 2 years later, she has made friends, found a way to make money, and even cured her depression. It turns out that a home really can bring happiness. Is this where you bought your first condo for $4,400? Yes. Returning to the same place? What are your thoughts? What are my thoughts? That feeling of confusion I had back then is gone. I think the neighborhood environment is really nice.

[00:01:54]Birds singing and flowers blooming. And it's not even spring yet.

[00:01:59]>> $3,500 in full. You heard right. Only 3500 in full. That's the same amount you pay for renting for 2 or 3 years. Two bedrooms and one living room. About 60 m. This place can be moved into after a simple sorting. There's a separate kitchen and this is the small bedroom.

[00:02:15]The location is fantastic. The morning market and bus stop are right downstairs. The location in Nonshen Garden is superb. You can buy your own home for $3,500 in full. Viewings are available anytime.

[00:02:29]>> A video on mainland social media has sparked heated discussion. A secondhand condo in Hang Shan District, Ji City, Hong Jong Province, with an area of 65 m was listed at only $1,800 and a further $300 discount was offered, bringing the final transaction price to only $1,500.

[00:02:48]That works out to just $20 per square meter. Jishi, located in southeastern H Long Jang Province, is one of the least economically developed cities in northeast China. In response, some netisonens commented that in many small cities experiencing severe population loss, housing is already very cheap.

[00:03:05]It's not uncommon to find condos for tens of thousands of R&B with many residences remaining vacant for extended periods and some communities have occupancy rates of less than 10%. Others pointed out that this phenomenon isn't unique to northeast China. Similar situations can be observed in some small counties along the Shandong coast.

[00:03:25]>> Houses in Her Gong are the cheapest at $3,000 each. Daqing isn't expensive either. The cheapest is $5,900 each.

[00:03:33]Mudon Jang's cheapest is $2,600 each.

[00:03:36]There are 24 places across the country with incredibly low prices. Check if there's anywhere you'd like to go. Cheap options are available from all directions. Do you think these prices are reasonable? Is it possible that other places will gradually be added to this list?

[00:03:55]>> $700 per unit, a whole condo with some partial finishes. Let me explain the situation. The elderly owner of the condo has passed away, so there's no title deed. $700. If you want to get a title deed, family members can handle the inheritance procedures, no problem.

[00:04:11]But whoever buys it pays the cost. This condo is only selling for $700. You'll have to cover all other expenses. It's over 50 square meters. Come and get it if you're interested.

[00:04:26]>> For a full payment of $13,000, you can get this two-story 120 m house. It's fully furnished and equipped with all appliances, including a wall-mounted boiler. Downstairs, it has two bedrooms, a living room, a kitchen, and a bathroom. The bathroom has a window and the master bedroom has a balcony.

[00:04:44]Upstairs there's a living room, another bedroom, and a complimentary terrace.

[00:04:48]You can see a bit of the sea from the terrace. The beach is right outside the complex.

[00:04:56]Come on. Come on. Fantastic news.

[00:04:58]Fantastic news. A property for $2,200.

[00:05:02]Not a down payment. Not a down payment.

[00:05:04]Just 2,200. Just this one unit. Not the top floor. The bathroom, underfloor heating, and waterproofing are all done.

[00:05:11]It's a new building with underfloor heating. This thing even has underfloor heating. 65 m and it still has underfloor heating. $2,200, 65 m. Next, a Shiaang Shan hospital in the area on the sixth floor, not the top floor. In the past 2 or three decades, China has experienced a nationwide housing frenzy.

[00:05:32]Some bought houses for marriage, some for their children's schooling, and some believe that housing prices will always rise. Regarding real estate as the safest investment, however, with a continuous plunge in the real estate market in recent years, many people have found that houses once considered a sure thing are becoming a heavy burden on their shoulders.

[00:05:51]>> At the end of 2021, we bought a small three-bedroom condo in Nonjing for $500,000.

[00:05:57]At that time, housing prices were very high and surrounding secondhand condos were selling for $6,600 per square meter. New homes were priced at 4,700 due to price caps. That year, everyone was frantically scrambling to buy in lotteryies. It was incredibly difficult to get a unit. My husband and I were planning to settle in Nonjing at the time, thinking that if we didn't buy now, we'd never get a chance. We finally won the lottery on the fourth opening.

[00:06:23]Four years have passed and last month the average selling price in the neighborhood was only $2,500 per square meter, a solid drop of $260,000.

[00:06:32]The blogger said that the developer of her first home kept delaying delivery, eventually abandoning the project. Her child was about to start school and she didn't want her child to go back to her hometown for school, so she had to bite the bullet and buy a used home.

[00:06:47]The worst decision I ever made was buying two condos at once, both after 2019 when prices were high. At the time, I didn't realize there was a problem because I thought I could afford the mortgage. I had a job and I only had one child, so I didn't think much of it until after I bought the second condo, my second child unexpectedly arrived and making money became increasingly difficult.

[00:07:10]The blogger said that to pay the mortgage, she worked several jobs simultaneously, often so busy that she didn't have time to eat, just grabbing a quick bite of a steamed bun for a meal.

[00:07:20]When her daughter was only 2 months old, she carried the baby to meet clients.

[00:07:23]The child suffered alongside her, which made her feel very guilty.

[00:07:30]I took out a $260,000 mortgage to buy a condo. When we bought the condo, I never imagined that I would be so worried about it now that I can't sleep at night. Back then, my obsession was that after working hard for over 10 years, I had to own my own home. I really didn't want to rent. I don't know why I was so stubborn back then. Renting, I felt like constantly moving around and throwing away a bunch of stuff. Plus, everyone around me was buying homes. And many developments had long waiting lists and lotteryies. So, I didn't even do the math. I just used our family savings over 10 years for the down payment.

[00:08:05]>> The blogger said that at the time they were very optimistic about the future and never considered what would happen if their family income decreased later.

[00:08:12]They have a 30-year mortgage and they have to pay $1,100 a month. She couldn't help but sigh. Who can guarantee a stable income for the next 30 years? Who can guarantee they won't get sick or have any accidents for 30 years?

[00:08:26]>> Do you regret buying a condo? I really regret it. We bought a unit in Fujo in 2021. Considering limited funds, my husband chose a relatively remote location and bought this 89 meter 3-bedroom, one living room condo. At the time, I was still working in my hometown. I didn't know this place was so remote. Even going out to buy something or going shopping is not as convenient as in my hometown. Now, we have a home, but the $440 monthly mortgage is suffocating us. It doesn't sound like much, but my husband only earns $700 a month. After paying the mortgage and daily expenses, there's practically nothing left.

[00:09:04]I don't care anymore. I'm not paying the loan. So be it if I'm blacklisted. In 2016, I bit my teeth to take out a $200,000 mortgage for a 30-year loan, paying $1,200 a month. It feels like a bottomless pit. Over the years, I haven't dared to change jobs. Even when my boss is harassing me, I just silently endure it. I don't dare buy myself any new clothes. I wear my old t-shirts until they're faded. I don't even dare to get sick. Even with a fever of 39°, I force myself to go to work, afraid that losing income will prevent me from paying the mortgage.

[00:09:43]I took out $170,000 loan. I paid it off for 10 years and just sold the condo.

[00:09:48]After calculating the total, I lost a full $200,000 the day I signed the purchase contract in 2016. To be honest, my hands were shaking and my heart was pounding.

[00:10:04]At the time, I thought that since I was a loan with a 25-year mortgage, I could pay $1,000 a month. And since I was a construction engineer, I figured I could manage.

[00:10:14]tree. This blogger said that the first thing she did every month after receiving her salary was to pay the mortgage. She had to carefully budget the remaining money, meticulously calculating how much to spend on every meal. Later, she developed health problems, was diagnosed with thyroid disease, and then lost her job. The pressure of life became increasingly unbearable, and she finally had no choice but to sell the home.

[00:10:38]>> I just sold a unit. This was the most difficult deal I've closed this year.

[00:10:42]The seller completely broke down and cried. When we were signing the contract, I noticed the homeowner's hands were shaking, but I didn't think much of it. Later, as we were signing, tears were welling up in her eyes. I was completely stunned. The buyer was also stunned. It was quite awkward. I quickly called the seller to the next office and poured her a glass of water. I told her, "Sister, if you really can't bear to sell it, don't sell it. If you really can't bear to part with this home, that's fine, too. Maybe the housing prices will be better in the second half of the year. Anyway, I have other properties to choose from for the client, so it's okay. After hearing the agent's words, the seller couldn't help but cry. She told the real estate agent that they bought the condo a few years ago for $1.5 million. But no one expected that the house price would plummet after the purchase. Later, they decided to list the property for sale.

[00:11:30]At the peak of the market, a buyer offered $1 million, but they felt they were losing too much and couldn't bear to sell. Who knew that by this year they couldn't even sell it for $900,000, meaning they lost $600,000 in one fell swoop? She said that the loss on the house price was bad enough, but with the interest on the mortgage over the years, they lost another $100,000. In total, $700,000 was gone. She lamented, "This isn't $7,000, it's $700,000. That was their hard-earned savings for so many years, almost completely wiped out in just a few years.

[00:12:07]Look at the people around us now. After getting married, everyone wants to move to the city and buying a car in a condo is almost entirely financed by loans.

[00:12:16]Once married and having children, the pressure piles up, leaving no time to breathe. We used to say that buying a home meant it was a fixed asset, our own home. But now we realize that until the mortgage is paid off, the house doesn't truly belong to you. It belongs to the bank.

[00:12:34]The thing I regret most in middle age is buying a home. In 2018, I bought my first home in Puko District, Nanjing.

[00:12:41]Back then, house prices were skyrocketing, changing daily. That was my first pot of gold, and with my parents support, I bought my first one in Puko District, Nonjing. The price was $3,000 per square meter plus $20,000 in taxes because the condo hadn't been owned for 3 years. I clearly remembered the price was 290,000. So, with taxes, it was about $310,000.

[00:13:04]The blogger said she later decided to sell the condo. After several rounds of negotiation, it finally sold for $180,000. In total, she lost about $160,000.

[00:13:15]She lamented that if she hadn't bought the condo back then, then 160,000 would have saved her at least 10 years of hard work.

[00:13:24]>> Cruel unemployment has broken people.

[00:13:26]One of my followers is worried about next month's mortgage payment and is almost collapsing. Her husband used to be a director at a real estate company with a very good income. They previously spent $880,000 on a condo in an alley in the industrial park with a $440,000 mortgage. They also borrowed $150,000 from relatives and friends with a monthly mortgage payment of $2,000. Her husband's monthly salary of $4,400 plus bonuses was enough to cover the mortgage and their two children's education. But unfortunately, his company went bankrupt at the end of last year, and he hasn't found a job since. The blogger said that their family of four relies entirely on her salary, but she simply can't afford it. With no other option, the two of them had to discuss selling the home.

[00:14:10]Upon inquiring about the market, she discovered the price had plummeted to $600,000.

[00:14:16]She's now exhausted and disorientated, unsure of what to do next.

[00:14:22]>> My condo has dropped from $1,800 per square meter to $590, a 2/3 drop. I still have a mortgage, and I don't know what to do.

[00:14:34]Sell it, but I'm afraid of losing my wife and children, losing everything.

[00:14:39]As you guys know, I have a wife, but no money to raise the children.

[00:14:44]If you sell the home, your women will feel insecure. To be honest, I'm scared.

[00:14:51]>> The blogger said his condo was on the outskirts of the city, not in the main urban area, and the price drop was particularly severe. A while ago, he went to ask a real estate agent and learned that the house price had dropped by $70,000.

[00:15:04]He sighed and said he came from a rural family, had no connections or savings.

[00:15:08]$70,000 was an astronomical figure for him. Now that the price has fallen so much, he really doesn't know whether he should sell or not >> in Ningbo. Now, losing your job for a month could mean your life will collapse. Don't think I'm scaring you.

[00:15:23]Many people are living on online loans, robbing Peter to pay Paul. Most young people are spending tomorrow's money. I have a client whose debt grew from $15,000 to $59,000 in 2 years. This kind of thing actually happens every day.

[00:15:38]Online loans have ruined too many young people. They've never really helped anyone. Online loans only make you poorer and poorer until you can't borrow anymore and can't repay. At that point, you can only face despair and pain.

[00:15:54]>> At 40, I had no choice but to leave the company I'd worked for for 15 years. I was forced to leave. The company hadn't paid our salaries or social security contributions for over a year. I simply couldn't take it anymore and chose to leave. The company listed my reason for leaving as personal reasons in their system, which means I can't claim unemployment benefits.

[00:16:16]>> Buying a home. Really, this is the biggest ripoff I've ever made in my life. The condo I bought for our wedding worth $300,000 is now only worth $200,000. That $100,000 represents my husband's savings, my parents dowy, and all the money I saved back then. It's all gone. Now I have to pay $880 in mortgage payments every month. I feel so helpless and powerless. House prices keep falling. The highspeed rail is open and my peaceful sleep is gone. The hallways are piled high with trash and the elevators are overflowing with it, too.

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