Chinesses aren't paying morgages on their shitty buildings anymore.
Over there all land belongs to the state, so there isn't even a guarantee you will be allowed to stay put in your home. However most people assume they will. For instance a building with 20 years left on its lease from the state sells for about the same money as a building with 70 years left.
It doesn't matter anyway, cos Chinese buildings all fall down by themselves within 10 years anyway.
This brave Chinese performance artist demonstrated the current state of the Chinese property market.