155
you are viewing a single comment's thread
view the rest of the comments
[-] rippersnapper@lemm.ee 8 points 10 months ago

Currently the real estate market seems to be on very shaky grounds as developers have debts that they're not being able to pay off. So bonds whose coupons are due are not being paid.

Chinese citizens generally pay up front a certain amount (or fully) long before they move into their apartments. This money is generally used to complete construction. But developers seem to have used this to buy other properties for construction, over leveraging themselves. And now that construction is wayyy behind schedule and the people still can't move in, they're refusing to pay their mortgages causing banks to pull back lending and become more strict with debt restructuring for developers.

Tldr: Way too many homes built for people who don't want them. Lots of loans might be unpaid. Might affect other sectors.

[-] TurboDiesel@lemmy.world 4 points 10 months ago
this post was submitted on 18 Aug 2023
155 points (99.4% liked)

World News

37368 readers
3129 users here now

A community for discussing events around the World

Rules:

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS