I think housing prices in China are still too high. The average person's salary isn't that high. Suppose you earn 20,000 yuan a month in a second-tier city and want to buy a 100-square-meter apartment. Assuming 10,000 yuan per square meter, it would cost 1 million yuan. You would need 50 months of saving without eating or drinking to afford it.

And the reality is even harsher.
First-tier cities: Monthly income of 20,000 yuan is common, but housing prices are often between 50,000 to 100,000 yuan per square meter. Buying a 100-square-meter apartment would cost between 5 million and 10 million yuan. Without eating or drinking, it would take 250 to 500 months (20-40 years).
Third and fourth-tier cities: Housing prices are around 10,000 yuan, but the average local monthly salary is usually between 3,000 and 6,000 yuan. At 5,000 yuan, buying a 1 million yuan house still requires 200 months (16.6 years).
The population is gradually decreasing. Many of our post-90s, post-00s, and post-10s are only children. If grandparents and great-grandparents pass away, combined with their parents' properties, each person could inherit at least 2-3 houses.
Do these people still need to buy houses? There is already a severe oversupply of housing.