Real estate investments in China are hemorrhaging value as buyers remain wary. High interest rates and maturing loans are leading to significant losses for real estate investors. Many investors are being wiped out, particularly those involved in bets fueled by Wall Street loans. The situation is exacerbated by the illiquidity of commercial real estate assets, which are difficult to sell. Financial experts advise caution, recommending that investors stick with stocks, bonds, and unlevered real estate. The multifamily housing sector is also experiencing significant challenges, further impacting small investors. “It’s not supposed to be easy. Anyone who finds it easy is stupid,” remarked Charlie Munger.