I bought this house for over 2 million RMB five years ago.
The price has plummeted over the past five years.
It's been vacant and unrenovated.
I've paid tens of thousands of RMB in property management fees over these five years.
I'm losing a third of my investment and still can't sell it.
I've listed it with real estate agents for two years with virtually no takers.
So I've decided not to sell it anymore and will just renovate it and rent it out.
From now on, houses will be consumer goods; only those with essential needs will buy them.
If I had bought all that money in gold or Bitcoin five years ago,
I would have made at least several times my initial investment by now.
This complete reversal has resulted in a loss of 5 million RMB.