I really can't afford a mortgage!

Mortgage foreclosure, ongoing in the bigger city of china

Abstract: when all walks of life are facing the dilemma of layoffs, when there is a large number of unemployed people when countless mortgage loans are not paid to continue to face a cut, this is the darkest moment the epidemic has brought us.

 A Shanghai programmer with a monthly salary of 35,000 complained on the Internet that he had just bought 6 million houses for 20,000 a month. This is common in China's first-tier cities, where many families pay their last coins to buy a house.

 For families carrying car loans, once there is a wind, it is basically unbearable. Of course, there is no money to raise, and there are a lot of people who finally give up their houses. I really can't afford a mortgage! In the wake of the epidemic, mortgage foreclosures continued.

Recently, we see the situation is salary withholding, salary halved, bonus cancellation, no pay leave, early holiday, and so on, all kinds of names have appeared, enterprises only to increase revenue and cut expenditure, the cost down. The only thing businesses have to do to cope with recession is shrinking. At home, layoffs, pay cuts, housing foreclosures are also happening. At the beginning of March, the Indian hotel chain brand OYO will lay off 5,000 people worldwide, including 3,000 Chinese employees.

 At the end of April, Wanda Film revealed that it would cut 20% to 30% of its staff, mainly front-line staff. Real estate, used cars, tourism, advertising media, and other fields of large-scale well-known enterprises, have begun to optimize the organization of personnel.

 In April 2020, the unemployment rate in the national urban survey was 6.0%, up 0.1 percentage points from March, and the number of unemployed people was still rising. When all walks of life are faced with layoffs, when there is a huge number of unemployed people, when countless mortgages are not paid to continue to face a cut, this is the epidemic brought us a dark moment.

 Our mold manufacturing industry is also not good now, once the big customers do not place orders, the company will fall into big problems.