One piece of advice from a friend—Yanjiao people have it the worst!

In 2017, he bought a unit in Seoul, Sweet City. The area is a little over 100 square meters. Back then, the price per square meter reached an astonishing 4.2 ten thousand. After paying the down payment and taking on the mortgage, he began a life of commuting between two places. At that time, he worked online, earning a monthly salary of 30k. The mortgage payment didn’t seem too obvious. After the pandemic, his company also carried out large-scale layoffs, and it was his turn. With no high income left, he had no choice but to grit his teeth and throw his savings into the mortgage. Back then, he even fantasized that prices would go up. He didn’t expect the opposite—prices fell harder the more they dropped.
After multiple rounds of listing and asking prices, the buyers kept breaking down his psychological defenses. Now his savings are completely drained, and it’s reached the point where he has to sell the house. When he heard the offer, he was left dumbfounded—he never thought the number would be: 670k!
From a price of more than 40k per square meter to the average price of just over 6,000 now—he lost terribly. He not only lost his entire down payment, his renovation funds, and his savings, but also has 6.7 million in principal and interest to repay. What should he do?
This crushing debt left him distracted and his life lost its true essence—his house became the biggest burden! $BNB
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