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  • Why Is The World Worried About China's Property Crisis?

    07/25/2022 2:14:14 AM PDT · by RomanSoldier19 · 11 replies
    www.barrons.com ^ | July 23, 2022 | By Laurie Chen, with Qasim Nauman
    China's troubled property sector suffered another blow this month when frustrated homebuyers stopped making mortgage payments on units in unfinished projects. The boycott came with many developers struggling to manage mountains of debt, and fears swirling that the crisis could spread to the rest of the Chinese -- and global -- economy. Colossal. Property and related industries are estimated to contribute as much as a quarter of China's Gross Domestic Product (GDP). The sector took off after market reforms in 1998. There was a breathtaking construction boom on the back of demand from a growing middle class that saw property...