Nationwide Housing Crisis: Decades of Wealth Erased as Defaults, Protests, and Chaos Erupt

New top-level slogan, let him leave with dignity. Will Wan Yang become general secretary? Nationwide housing crisis, decades of wealth erased as defaults, protests, and chaos erupt, no house, no money, and still stuck with debt, bankrupt local governments spark social chaos. China's universities expel foreign students, signaling end of privileged treatment era? Rare sunset rainbow emerges inner Mongolia, reviving ancient-ancient texts predict bat omen misfortune. Robot knockout competition, Yushu robot attacks referee during match. Step on board for today's show. Dive into decoding China, where you'll find all the essential information you need. New top-level slogan, let him leave with dignity. Will Wan Yang become general secretary? Recently, there have been reports that Hu Jintao and Zhang Youxia have designated Wan Yang and Hu Qinhua as successors, with Wan Yang already leading the list ahead of Hu Qinhua. According to sources, Wan Yang is expected to preside over this year's September 3rd military parade. Additionally, a new slogan has emerged among China's top leadership, let him leave with dignity. Economist and poet Su Xiao'e explained that this phrase has a history, when she first came to power, few had faith in him. Su Caihou reportedly said, let him serve five years, then let him go. Back then, Su was seen as a mere placeholder, yet he has held on for over a decade and has yet to retire. Now, political elders have reportedly agreed to let Su step down with dignity. But there are rumors that in July, a nationwide party member referendum will be held to evaluate Su's legacy and his historical role, starting with Su and then allowing him to step down. Su Xiao'e believes this is actually a maneuver by the party elders. Sources say the old generals have Su under pressure, and there's a growing trend in the party supporting reform and opposing any reversal. Additionally, Su's health is reportedly deteriorating, which may also push him to step down. Online sources claim that Hu Jintao and Zhang Youxia have named Wan It is said that Wan Yang will become general secretary, while Hu Jintao will be premier. Commentator Xiao Shuojiao revealed that China will definitely hold a military parade on September 3 to mark the 80th anniversary of the victory over fascism. Xi Jinping won't be allowed to preside over the parade. Someone without military power will not be allowed to host. Reliable sources indicate that the fourth plenum could be held in late June or July. On May 25, Hu Chunhua, the second-ranking vice chairman of the Chinese People's Political Consultative Conference, visited the Vietnamese embassy in Beijing to mourn former Vietnamese President Tran Duc Luong. This move drew considerable attention. Hu Chunhua has been increasingly active, visiting Anhui and several African countries. Jiang Weiping, former Northeast Bureau chief of Hong Kong's Wenweipo, speculated that Hu Chunhua is very likely to succeed Xi and that his rise now seems unstoppable. Xiao Shuojiao viewed Hu's visit to the Vietnamese embassy as a clear sign of his future leadership role. Meanwhile, the purge of Xi's military allies continues. Reports claim that He Hongjun and He Weidong have died during interrogation. So far, confirmed purged generals include Miao Hua, He Weidong, Lin Shen Yun, Wang Haijiang, Wang Haobin, Wang Chening, Zheng Hongbing, He Hongjun, and Wang Renhua. Xiao Shuojiao said this is the biggest purge since the start of the reform era, taking out a third of the top generals. We'll likely see another one or two names emerge, but for now, the situation is under control. He predicted that the fourth plenum will bring an even bigger shakeup in the Politburo, as it is dominated by Xi loyalists. The anti-Xi forces are now stronger than the Politburo and have even brought in Shi Taifeng. I predict the fourth plenum could replace 10 or more out of the 24 Politburo members, a truly bloody reshuffle. If Xi were still in full control, he wouldn't allow this purge, since these generals were all his own appointees. This growing power struggle in Beijing, marked by forced retirements, rumored health crises, and bold new leadership slogans, signals not only a dramatic end to an era but the birth of a new chapter in China's political history. As generals fall in party elders' maneuver, the world watches closely, knowing that what emerges from this shadowy dance could reshape China's future in ways no one yet fully understands. Nationwide housing crisis, decades of wealth erased as defaults, protests, and chaos erupt, no house, no money, and still stuck with debt, bankrupt local governments spark social chaos. Liu city has collapsed. Liu city has collapsed. Something huge has happened in Liu city, it has completely fallen apart. China's real estate market is in a catastrophic meltdown, with people jumping off buildings, defaulting on loans, and protesting for their rights. Generations of savings have been wiped out. Real estate, once seen by all Chinese as the ultimate path to wealth, has now become a disaster crushing countless families. This real estate crisis isn't just about a few failing developers, it's a nationwide systemic collapse, directly threatening people's livelihoods and even social stability. For the past 20 years, Chinese people have been indoctrinated with one phrase, you need a house to have a future. Families drain six wallets, and young people sign 30-year mortgages just to buy a home, get married, and start a family. But who could have imagined that just as their dreams began, reality would turn into a nightmare? What they bought wasn't an asset, it was a massive trap, a financial scam. Data show that since 2024, second-hand home prices in over 73% of Chinese cities have plummeted. In places like Hefei, Zhengzhou, Shen Yun, and Kunming, some neighborhoods saw prices drop by over 50%. People who just paid their down payments are stunned, yesterday's purchase is worth a million yuan less today because developers slashed prices. Worse still are those who bought pre-construction homes, they paid, signed contracts, and started repaying loans, only for developers to run out of funds, leaving projects abandoned and buildings as ruins. The money is gone, the house is gone, but the mortgage payments keep coming. No house, no money, and still stuck with debt, this is what they call losing everything. A citizen complained, how am I supposed to live? I've got a mortgage here, a credit card there, and rent on top of that. It's because of them that I'm in this mess. If I had my house, could I live in it? From Zhengzhou to Nanchang, Tianjin to Changsha, protests over unfinished buildings have raged for over a year. Government mediation is all talk with no results, driving people to the brink. Protests are growing, some hold banners, others wear white mourning clothes, and some set up funeral displays, live-streaming for help. The movement is spreading like wildfire across the country. But what does the government do? They don't compensate or solve the problem, they censor chat groups, delete posts, and disperse crowds, burying the issue. They call this maintaining stability, but people feel completely ignored. In Shenzhen, a project stalled for three years led owners to block roads for answers, only for police to clear them out. In Chongqing's Duandong neighborhood, protest leaders were quickly detained for tea talks. In Xi'an, a female owner was jailed for seven days just for holding a protest banner. With homes unsellable, unrentable, and loans unpayable, more people are choosing to default and give up. Data show a nearly 300% surge in defaults in 2024, with foreclosed properties hitting a record 2 million units. At least 600,000 households have stopped paying mortgages. In the first quarter of 2024, foreclosed homes reached over 600,000, up 192% from last year, and the numbers for the rest of the year could be even higher. Shockingly, only 14% of these foreclosed homes are sold, meaning banks are stuck with over 600,000 worthless concrete shells. Reports indicate banks are now refusing to seize defaulted properties. One defaulter, six months behind, said the bank manager visited with fruit, asking them to pay just a quarter of the monthly amount. Another who couldn't pay was offered interest-free principal repayment, with the bank saying, pay what you can. In one extreme case, a jobless defaulter was offered a 4,800 yuan, about $668, security guard job to keep up with payments. The message is clear, please, just don't default. This leniency is a far cry from the past, when banks seized homes, auctioned them, and took down payments and monthly payments without refund. If the sale didn't cover the debt, they'd drain WeChat, Alipay, or even pensions. Will this softer approach stop the default wave? It's unlikely. Many don't lack homes, they lack money. Young people, especially, refuse to take on 30-year mortgages for a house. With birth rates plummeting, if prices don't rise, defaults will continue. Banks publicly claim to support essential housing needs while privately freezing accounts and pursuing court orders. Ordinary people are ruined, facing credit blacklists and restricted spending, even affecting their children's education. The truth of China's 20-year real estate saga is this, three-generation savings were poured into depreciating bricks to enrich developers and local governments, leaving families in ruins. Policies swing from purchase limits to full deregulation, from housing is for living to slashing down payments and rates. The market is chaotic, and confidence is gone. Local governments want to save the market but won't cut land prices, trapped in a cycle of failed regulation and eroded trust. Real estate, once a quarter of China's GDP, propped up municipal projects, schools, and civil servants' salaries through land sales. Now, with developers collapsing, construction halts, raw materials pile up, appliances and furniture go unsold, and local budgets dry up. In Langfang, Hebei, they say, buildings surround the government, but the city is full of ghost towers. Governments are cutting services, subways cancelled, education budgets slashed, and civil servants facing pay cuts. Buying a home is no longer a ticket to the middle class but a slide into ruin. Young people, burdened by mortgages, dare not quit jobs, marry, get sick, or divorce, trapped as debt slaves with unsellable homes. The worst crisis is in county towns, where rural families pour savings into empty shelves. In Shaanxi, Anhui, and Guangxi, sales offices see one or two visitors a month, with agents fleeing and developers vanishing. Polls show 73% of young people won't buy homes, and 63% call it a scam. The real estate machine, which drained generations' wealth, trust, and dreams, has ground to a halt. Some hope the government will step in, but local budgets are near bankruptcy, and central bank efforts have failed. Residents, crushed by loans, won't buy. Houses are for living, but if they don't gain value, who will buy? Confidence is gone, and the market is dead. One netizen said all the shops here are empty, completely wiped out. People used to line up to buy these, but now they can't even be rented. Owners are crying in despair. A commercial complex like this needs a strong management team, a prime location, and a vibrant business environment. Now, it's just a ghost town. The catastrophic collapse of China's real estate market is not merely an economic downturn but a profound social and moral crisis. What was once seen as a golden path to stability and prosperity has become a black hole consuming the hopes and savings of countless families. Without decisive action, trust in the housing market, and in the system itself, will remain irreparably broken, leaving only empty towers and the quiet despair of those trapped within them. China's universities expel foreign students, signaling end of China's top universities have recently launched a wave of expulsions targeting international students, drawing widespread attention. Experts suggest that with the economic downturn, tightening budgets, and shifting political climate, the era of supernational treatment for foreign students in China may be coming to an end. Online reports indicate that Zhejiang University has expelled 96 students from African countries, cancelling their generous subsidies and ending their special treatment. Wuhan University followed suit, expelling 92 students from 10 countries. Sichuan University went further, removing 300 students, including 213 graduate students who had failed to graduate after 8 years. Most of the expelled students were removed for poor academic performance or violating university rules. Some rarely attended classes, failing at least half their courses, others couldn't pass basic language requirements, unable to speak or study Chinese. Issues such as plagiarism, academic fraud, and breaking dormitory rules were also cited. Lai Yunwei, executive director of the Taiwan Inspiration Association TIE, said this expulsion campaign is closely tied to China's current political and economic environment. Lai said this aligns with China's current political and social tone, where so-called patriotism dominates. University leaders, from party secretaries to administrative presidents, are likely acting to climb the political ladder by aligning with these trends. The Chinese Ministry of Education's 2025 budget shows 695 million yuan allocated for international student programs, down nearly 1 billion yuan from the previous year. Five years ago, this budget was over 3.6 billion yuan, approximately 501.76 million dollars. Li Yuanhua, an Australia-based historian, noted that China's economic slump has left insufficient funds to sustain large-scale subsidies for foreign students. Li said universities can't get as much money from the state anymore, so they're taking these steps. By clearing these students from the roster, they can redirect the funds elsewhere. In recent years, the number of Western students in China has plummeted. American students, for example, have dropped from a peak of nearly 25,000 to just over 700. Japanese students, despite their cultural affinity for China, now number around 700. Meanwhile, the number of African students has risen steadily. Li Yuanhua explained that Western and Japanese students historically came to study Chinese culture, aiming to bridge trade between developed nations and China. He said now, with China's economy collapsing and its disregard for global norms leading to sanctions, students from developed countries have sharply declined. For African students, some are elite seeking a gilded degree, while others from less developed backgrounds treat studying in China like a job. Some take the money and travel instead of attending classes. The supranational treatment for Asian, African, and Latin American students, covering scholarships and living expenses, has long sparked public controversy. One African student boasted online about using Chinese scholarships to travel to 17 countries, calling studying in China blissful. Another posted pictures of lavish meals, writing, I can't even spend all the money they give me. Li Yuanhua argued that China's international student system goes beyond education, carrying political motives. He said during its economic boom, the CCP used these funds as a tool to influence global politics, essentially bribing or wooing other countries' elites. Now, with less money, they're cutting back and using the media to justify it, though this system has been absurd for years. Some universities claim that the savings from expelling idle students will fund rural education projects in western China. Li Yuanhua dismissed this, noting that even during economic prosperity, the CCP failed to address urban-rural education gaps. He said supporting rural education is just a lofty slogan, and there's a real risk the funds will be embezzled by officials. The recent wave of expulsions marks a profound shift in China's approach to international education, signaling the end of an era defined by lavish support and open-handed subsidies. As economic realities set in and political priorities evolve, China's once-generous treatment of foreign students is giving way to a more pragmatic, even nationalistic, stance. Whether these expulsions ultimately strengthen China's domestic resolve or further isolate it on the world stage remains to be seen. For many of these students, and for the nation itself, this reckoning signals that the era of easy exchanges and free rides is truly over. Rare sunset rainbow emerges Inner Mongolia, reviving ancient ancient texts predict bat omen misfortune. Recently, Inner Mongolia witnessed a rare sunset rainbow phenomenon, which ancient Chinese regarded as an ominous sign. With various unusual natural events occurring across China lately, many are speculating that the country may be on the verge of a major political upheaval. Sunset rainbow as an ominous sign On the evening of May 23, a sunset rainbow appeared in Mengwuxiawei Simu, Ergun City, Hulunbur, Inner Mongolia. As the sun sank below the horizon, a rainbow formed around its outer edge, blending with the sunset's glow to create a dazzling seven-colored halo. Witnesses said this rare spectacle lasted from around 6.50pm to 7.40pm, about 50 minutes. Many were awestruck, and photos of this sunset rainbow went viral on Chinese social media. However, in ancient China, rainbows were often seen as bat omens. The Book of Changes, Zhou Yi, in the 30th hexagram's third line, states, At the decline of the day, if one does not beat the pots and sing, there will be the lament of the elderly, misfortune. This suggests that a rainbow appearing in the late afternoon or evening is a dire warning, bringing sorrow unless rituals are performed to ward it off. The Han Dynasty's Book of the Five Elements cites Jing Feng's commentary on the changes, describing rainbows as vapors beside the sun and listing 14 related omens, all negative. Ancient Chinese believed in the unity of heaven and humanity, where natural phenomena reflected worldly changes. Many online users commented that the rare sunset rainbow in Inner Mongolia might not be a good sign, possibly foreshadowing major events. Frequent omens spark talk of dynastic change. Recently, China has seen a series of unusual phenomena, fueling heated discussions. On April 21, a video from Chengdu, Sichuan, showed two suns in the sky for about seven to eight minutes, with one partially overlapping the other. Some netizens called it dual suns heralding chaos, suggesting it could signal a dynastic shift. Others referenced ancient texts, noting, the heavens never have two suns, implying that multiple suns represent disputes over leadership. On April 18, someone in Wuzhou, Guangxi, captured seven suns arranged in an odd pattern. Last August, Chengdu residents also reported seeing seven suns. Ancient records associate blood-red skies with catastrophic omens, predicting wars, famines, unjust imprisonments, coups, bloodshed, and the collapse of regimes. Tang Dynasty scholar Li Qianfeng wrote in Yixizhan that blood-red skies foretell such disasters. The Ming Dynasty saw repeated blood-red skies before its fall. Currently, the CCP faces internal and external crises, with a worsening economy and intensifying power struggles within the party. Several of Xi Jinping's close allies in the military have been investigated or reassigned. Recent insider leaks claim Xi has lost power, with CCP elders now controlling the situation. These developments have drawn global attention to China's volatile political landscape, amplifying speculation about regime change. The appearance of rare natural phenomena across China, coupled with the political turmoil within the ruling CCP, has fueled widespread speculation and unease. As ancient beliefs about omens resurface, they echo a growing sense of uncertainty and foreboding. Whether these signs truly presage political upheaval or simply reflect deep societal anxieties, they underscore a pivotal moment for China, one in which the past and the present converge, casting long shadows over the nation's future. Robot Knockout Competition, Yushu Robot Attacks Referee During Match At 8.30 pm, China's state broadcaster CCTV aired a live broadcast of the CMG World Robot Competition Series, BattleBot Arena, featuring four Yushu G1 humanoid robots developed in 2024 by China's Yushu Technology. Standing about 1.3 meters tall and weighing 35 kilograms, the G1 robots squared off in pairs in a ring. However, what was intended as a cutting-edge technological showcase quickly devolved into unintentional comedy. Online videos of the competition reveal a series of robotic mishaps. One robot lost its balance mid-kick and fell over, another became entangled in the ring's ropes. Some robots lay on the ground, unable to get back up. In one particularly absurd moment, two robots got stuck together, forcing the referee to intervene. Most notably, a robot mistook the referee for an opponent, flailing at him before toppling out of the ring entirely. These blunders quickly went viral on Chinese social media, with viewers ridiculing the spectacle, these robots are just fancy machines, without humans, they're useless. This event comes amid broader efforts by the Chinese Communist Party to position itself as a leader in robotics. In April, Beijing hosted the world's first robot half-marathon, and in August, China plans to launch the World Humanoid Robot Sports Games, featuring events from track to gymnastics to soccer. Yet despite these efforts, there has been little international interest. No American tech companies are participating. Alan Fern, a professor of computer science and robotics at Oregon State University, offered a blunt assessment. He told the Epoch Times that such competitions lack practical value. Fern said, they're just a waste of time and money, describing the Chinese robots as zombie-like, completely reliant on human control and lacking any genuine intelligence. According to Fern, Chinese researchers use joysticks to direct the robots' movements, but the robots themselves have no awareness or planning ability. Fern said watching them is like watching blind zombies. They don't know where they are or what they're doing. Fern, who co-leads Oregon State's Dynamic Robotics Laboratory and directs AI initiatives at the AGA National AI Institute, contrasted these primitive displays with the more advanced capabilities of American robots. US robots, he noted, are increasingly able to respond to verbal commands and perform real-world tasks. He pointed to examples like Figure Robotics robots sorting groceries, Boston Dynamics robots vaulting obstacles and performing backflips, and Tesla's Optimus folding laundry. Neurorobotics has demonstrated robots slicing cucumbers and tomatoes to prepare sandwiches. I haven't seen this kind of demo from China, Fern said. What I see is mostly dancing, kicking, or running, just demonstrations of athleticism. Maybe they're hiding some amazing AI, but no serious company keeps its best work under wraps. Ultimately, the BattleBot Arena event highlights a stark divide in the global robotics race. While China's humanoid robots can put on a flashy show, they appear far from achieving the level of autonomous intelligence and practical utility that defines the cutting edge of American robotics. The contrast is striking, and it raises tough questions about the true progress behind China's push for leadership in AI and robotics. We value your input. Feel free to drop a comment below and share your views on today's subject. If you found this video helpful, why not share it with a friend? Your support encourages us to keep providing insightful content. Be sure to like and subscribe for more intriguing insights from Decoding China. Thanks for being part of our audience.