Part 4/8:
Consider Mr. Lou, a 38-year-old resident of Shaman who bought a two-bedroom apartment for around 3 million yuan. His naive optimism during the property boom quickly turned sour as his property's value plummeted to 1.6 million yuan. With a mortgage of 12,000 yuan per month and an unstable income, Mr. Lou now regrettably reflects on how the dream of homeownership spiraled into a nightmare. Living beyond their means, he and his wife are now navigating a quagmire of debt that surpasses their losses from their real estate investment.