In 2018, I boarded a vehicle on Xiamen Island, 198 square meters, 75,000 per square meter, total price 14.85 million. At that time, I paid a 40% down payment—5.94 million, and borrowed 8.91 million, with a 20-year equal principal and interest loan, calculated at the then benchmark interest rate of 4.9%, the monthly payment was over 56,000.

The first two years were a real struggle; as soon as my salary arrived each month, I had to set aside most of it. But in the second half of 2021, the transaction price for the same type of unit in the community reached 95,000, and after calculating, the paper profit was close to 4 million. At that time, I also thought about whether to sell, but kept thinking 'let it rise a bit more,' after all, it's Xiamen Island, and I always felt it could go up further.

Who would have thought that this hesitation would become the biggest regret of my life.

Starting in 2022, prices began to drop, and now, the price reported by the agent has fallen to 55,000, with a total price of only 10.89 million.

Let's do the math: by 2025, I will have just paid off 7 years of the loan, with about 7.1 million remaining principal. If I were to sell now, I first need to pay off this 7.1 million loan, then deduct about 5% in taxes (approximately 540,000), leaving me with 10.89 million - 7.1 million - 540,000 = 3.25 million.

But I had initially paid a 5.94 million down payment. Over these 7 years, I have paid 56,000 × 84 months = 4.7 million in monthly payments, which means I have thrown in a total of 10.64 million, and in the end, I only have 3.25 million left.

Now, in the community owner group, those who didn’t sell back then are all silent. The monthly payment of 56,000 still needs to be endured, and if the house is rented out, it can only fetch a maximum of 13,000, which means I still have to subsidize 43,000. Sometimes, looking at the empty living room and recalling the days in 2021 when I stood on the balcony calculating my profits feels like a dream.

The 5.94 million down payment, 7 years of 4.7 million in monthly payments, have resulted in a current 'residual value' of 3.25 million. When the calculations come to an end, I am left with no energy to even curse, only feeling anxious while staring at the monthly payment text messages, not knowing if it will drop again, and by how much, reluctant to sell but feeling trapped as it may continue to decline.

This is a story I saw online; this person was also full of ambition a few years ago, and now it’s tough, tough, tough. $XRP