Valuable assets, like BTC, are worth buying with your eyes closed even at 120,000; Worthless assets, like houses in Shanghai, should never be touched even if the price is slashed to the bone. I saw on a certain elite forum a big shot who graduated from Tsinghua with a master's degree, has a background in a big company, and calls himself an "elite." He bought a house in Shanghai in 2025 and believes he successfully timed the bottom, using a bunch of so-called data to prove that housing prices have hit rock bottom. Unfortunately, in the face of fundamentals, all that data is meaningless. This kind of understanding is, to put it bluntly, about the same as the old man selling watermelons at the village entrance. I told him directly: Brother, I'm sorry, but in terms of USD, your house will never return to the peak it reached in 2021. First, houses are always the worst among all assets; Second, houses in Shanghai have no investment value whatsoever and are not even qualified to be compared with New York, London, or Tokyo. This was clearly proven by reality in 2022. Only when the tide goes out do you realize who has been swimming naked. And what about the current real estate market? The tide hasn't fully receded yet; it has only just pulled back 20%, and the real show is yet to come.