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Every financier & bank in the world wanted a piece of China's booming real estate & junk bond markets 4 years ago. Now, it's all imploding and $billions are vanishing — including at the largest US investment banks, hurting pension funds & IRAs. How will this end? https://t.co/btEkYsculL pic.twitter.com/0azUOfCqXG
— Laurie Garrett (@Laurie_Garrett) August 9, 2022
As of July 12, Chinese homebuyers in 22 cities stopped paying their mortgages.
In a week, that figure surged to 91 cities, affecting over 300 projects.
Real estate was once a successful driver of China’s GDP, but it is now on the brink of collapse.
So, what happened? 🧵 pic.twitter.com/767U46fAnV
— The Futurists (@FuturistsMY) August 8, 2022
China's real estate debt bubble is bursting: pic.twitter.com/2uIQFms66D
— Hilliard MacBeth CIM FCSI® (@hmacbe) August 9, 2022
Domino effect of China's economy: 460,000 companies closed, major real estate companies in default
Source: Spotlight on China pic.twitter.com/2d151cqgAW— Wittgenstein (@backtolife_2023) August 5, 2022
Breaking: Yesterday in Henan province, another real estate developer is about to collapse. China's rea estate economy is imploding 🚨
Banks are being stuck with mortgages because the loan securitization market is closed, nobody wants their bundles of packaged mortgages.
🔊sound pic.twitter.com/HuQQpM4HhS
— Wall Street Silver (@WallStreetSilv) August 10, 2022
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