Part 11/15:
A Deteriorating Future and the End of an Era
The outlook remains bleak. Goldman Sachs and other financial institutions project continued declines in housing prices, with some experts predicting a 30% to 60% drop by 2028. The current downturn appears to be the deepest since China’s housing bubble peaked in 2021. Meanwhile, official government reports somewhat understate the severity of the crisis, as less-than-accurate statistics fail to capture the full extent of foreclosures, mortgage defaults, and property devaluations.