现在真的有很多人是在硬抗

#现在真的有很多人是在硬抗

There are really many people struggling now.
Last night I was chatting with a friend who runs a physical business, and he said he was nearing his limit.
A few years ago when the market was good, he bought a house for a total price of 3.2 million,
with a down payment of 900,000 and a loan of 2.3 million.
When house prices peaked, it rose to around 5.2 million.
During those years, business was good,
he used this house to secure a business loan and borrowed 2.6 million.
Later, the market took a sharp downturn,
the house is now worth just over 2.6 million.
The problem is, he still owes 3.1 million to the bank.

To keep things afloat,
he gradually borrowed credit loans and consumer loans, totaling over 1.4 million.
It's clear when you calculate:
asset value < liabilities, he is essentially insolvent.
What's worse is that the factory is not making money now,
every month he has to subsidize with 40,000 to 50,000;
accounts receivable are stuck outside,
bad debts cannot be collected.
Now, let alone paying back the principal,
every month just the interest costs over 20,000,
it's becoming difficult.

The second-hand equipment in the factory,
cannot fetch much money when sold;
he also has a car in hand,
estimated to sell for around 180,000,
after that, there are hardly any valuable items left.
He asked me:
"Do I have no choice now?"
To be honest,
there are quite a few people in this situation.
It's not that they aren't trying hard,
but they fully leveraged at the peak,
and chose to tough it out during the downturn.
Many people didn't collapse all at once,
but were slowly dragged down by their unwillingness to admit losses and stop the bleeding.
Isn't it like the crypto world, constantly increasing bets when the market is good, not knowing when to cut losses when the market goes down? It leads to a difficult life. (Transferred)