In July, thousands of Chinese homebuyers threatened to boycott mortgage payments. Since the Evergrande Crisis, other cash-strapped developers have halted construction, leaving millions in limbo.
Over speculation left Chinese property market in jeopardy. Meanwhile, desperate homebuyers have moved into their unfinished apartments, making do without electricity and water. With echoes of the 2008 US subprime mortgage financial crisis, people around the world are closely watching how this crisis in China will unfold.
What is behind China's mortgage crisis?
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