2min chapter

Planet Money cover image

Two Indicators shaking China's economy

Planet Money

CHAPTER

Home Buyers in China Stop Paying Mortgages

Li Xin and 300 other home buyers from the same unfinished apartment block decided to squat to live in their unfinished apartment. After four months, the local government asked them to move out. So they went back to paying the mortgage and rent. Don Weiland says that we're not seeing property values in China crashing right now. But this is a slow rolling nightmare for millions of home buyers like Xin.

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