Like millions of other young Chinese, Byron Zhang thought he was missing out. For his parents’ generation, investing in real estate was the surest route to prosperity and security. Now, while prices have fallen, the population decreased and unfinished and unsold apartments gathered, the dream of riding that boom collapsed.
“If you’re still relying on property investment as a way to grow your fortune, you’re wrong in the head,” said Zhang, 37, who co-founded a pharmaceutical startup in tech hub Shenzhen.