Some common knowledge about the future of real estate:

1. Japan already has 1/9 of its land area in a state without owners. As China's aging population worsens, more and more houses will become negative assets. In the future, China will also see a large number of "ownerless" houses.

2. The real estate market will inevitably have increasing oversupply, coupled with house aging and depreciation. Most houses have a lifespan of only 30-50 years, and in the future, rental returns on most houses will only decrease.

3. Most house price declines have no bottom; there is essentially no possibility of bottom-fishing.

4. Houses are at best collateral, but not good investments. If houses were good investments, Warren Buffett would definitely invest in real estate rather than stocks.

5. In the future, housing prices, rents, house quality, and housing demand will all face collapse.