China's real estate sector is facing a deep crisis, with China Evergrande's forced liquidation symbolizing the industry's struggles. Sales are plummeting, and millions of homes remain unpaid and undelivered. The once unshakable belief in real estate as a secure investment has eroded, posing a significant challenge for Chinese policymakers. Despite efforts to revive the industry, the situation continues to worsen, with housing sales and new project investments declining. Experts warn that the market has yet to hit rock bottom, indicating a prolonged downturn.