… the slow motion crash continues:
Lenders of struggling Chinese developer Evergrande Group (3333.HK) have appointed a receiver this week to seize its Hong Kong headquarters, two sources said, as the world’s most indebted developer struggles to emerge from its debt crisis.
https://www.reuters.com/markets/asia/evergrande-crisis-deepe…
If you’re worried about the price of, say, your Floridian beachfront property sliding, be thankful it’s not in China.
That real estate market, which propelled China’s rapid growth ever since the 2008 financial crisis, is in the midst of a housing bust that has now recorded its 11th straight month of price declines.
https://fortune.com/2022/08/15/real-estate-market-house-pric…
Hundreds of thousands of homebuyers in at least 80 Chinese cities are refusing to pay their mortgages as property developers struggle to complete their building projects, signalling a new era of turbulence for China’s continued real estate crisis.
https://fortune.com/2022/07/18/china-housing-market-mortgage…