The New York Times

@nytimes ↗

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Last Checked March 4, 2023

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Tue Jan 31 09:03:36 +0000 2023

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The New York Times @nytimes

Developers ran out of money amid a government crackdown on debt and a slowing economy, bringing a decades-long real estate boom to a halt. Now, across China, uninhabitable concrete structures rise up from idle construction sites instead of apartments. https://t.co/C9KqO1eM0p https://t.co/0JRHnDk2ZR — PolitiTweet.org

Posted Jan. 31, 2023 Hibernated

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The New York Times @nytimes

What happens when a developer stops building a house you already paid for? It happened to hundreds of thousands in China, where about 90% of new homes are sold before they're built. Buyers are expected to pay in full ahead of time, often with mortgages. https://t.co/C9KqO1eM0p https://t.co/7Ed8cjDxEF — PolitiTweet.org

Posted Jan. 31, 2023 Hibernated

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The New York Times @nytimes

Last year, in an act of collective rebellion that’s rare in China, infuriated homebuyers in more than 100 cities vowed not to repay loans on unfinished properties. https://t.co/C9KqO1eM0p https://t.co/KWb0mtm3O5 — PolitiTweet.org

Posted Jan. 31, 2023 Hibernated