
[Sixth Tone] China’s downturn fuels a worrying new trend: A surge in foreclosures
China Stories
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The Boom in Real Estate Auction Assistance in Zhongqing
Auction assistance agencies have mushroomed in areas that have seen a large number of businesses go bankrupt. The nation's biggest real estate auction market is Zhongqing, where the number of units put up for auction reached 26,520 and soared to 37,121. Most properties were foreclosed after economic disputes or unpaid mortgages; around 10% are related to criminal cases or suspected hauntings.
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