The homeowner, unable to repay his mortgage, was forced to default, leading to his house being auctioned by the court. Since court-auctioned houses are sold at much lower prices than the market value, he ended up in debt. In frustration, he destroyed all the renovations in the house the day before the auction.
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Buyers Smash Their Just-Renovated Homes, Cry in Despair; Mass Foreclosures in China Crush the People
