AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
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.