Troubles in China’s property sector are beginning to surface after more developers joined Evergrande’s debacle and are also struggling to pay their debts. “If Evergrande goes down like this, then I believe this is the domino,” said a Taiwan-based financial expert, as the housing bubble is pushing the property giant to the brink of collapse….
Chinese Developers Glum as Evergrande Crisis Could Burst Housing Bubble
Fundraising by China Property Trust Products Slump Amid Evergrande Woes: Media
October 12, 2021
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SHANGHAI—Fundraising by Chinese property trust products tumbled over 40 percent in September from a month earlier, official Shanghai Securities News reported on Monday, as China Evergrande Group’s troubles further dampen investor appetite toward the struggling sector. Newly-launched real estate trust products raised 16.2 billion yuan from investors in September, down 44.8 percent from the previous…
China’s Property Sector Default Woes Deepen Amid Evergrande Disquiet
October 6, 2021
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HONG KONG/LONDON—Growing worries about defaults at Chinese property developers triggered a rout in their shares and bonds on Tuesday with fresh credit rating downgrades and uncertainty about the fate of cash-strapped China Evergrande Group sapping investor sentiment. Once China’s top-selling developer, Evergrande is facing one of the country’s largest-ever debt restructurings as it wrestles with…
Chinese Developer Misses Payment Amid Deepening Housing Market Woes
October 5, 2021
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A midsize Chinese property developer’s failure to make over $300 million in payments to lenders is deepening fears of turmoil in the real estate sector in the world’s second-largest economy, where the country’s top-selling developer is teetering the edge of collapse. Fantasia Holdings Group, a Shenzhen-based developer, missed paying $206 million worth of bonds that…
Fitch Cuts China 2021 GDP Forecast to +8.1 Percent Vs +8.4 Percent on Property Slowdown
September 23, 2021
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BEIJING—Fitch Ratings said on Sept. 16 that it had cut its 2021 economic growth forecast for China to 8.1 percent from 8.4 percent, citing the impact of the slowdown in the country’s property sector on domestic demand.
China’s New Home Prices See Slowest Growth in 8 Months
Data on Sept. 15 showed China’s home-price growth eased to an 8-month low, as property investment in August rose at the slowest pace in 18 months. Average new home prices in 70 major Chinese cities grew 0.2 percent last month after rising 0.3 percent in July, according to Reuters calculations based on data released by…
Native Californian Who Is Leaving California: ‘My Heart Is Broken’
June 17, 2021
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Some Californians are packing up boxes, loading them into their vans, and moving away from their state. Data suggests that 167,000 Americans are leaving California, which puts California at the top of the list of states with this mass migration. Several native Californians told The Epoch Times that what has driven them to move to…
Biden’s War on Single-Family Homeowners
May 19, 2021
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Commentary If you saved your money and bought a house in the suburbs, your investment and lifestyle are under attack. President Joe Biden is pushing to end single-family zoning. The biggest item in Biden’s infrastructure bill, now being negotiated with Congress, is $213 billion he claims will to increase affordable housing. Biden wants to put…
The Founders’ Understanding of Equality
Commentary “All people are born free and equal, and have certain natural, essential and unalienable rights.” — John Adams We have reached a time when each of us must make an effort to rediscover what Adams and Jefferson and the other Founders meant when they declared that we are all created equal. For over a century,…
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Home Prices up 12 Percent Year-Over-Year
Commentary Home prices in the U.S. increased in value during the past year at the fastest pace since the end of the 2006 real estate bubble that led to the Great Recession. Standard & Poors (S&P) compiled an index of home prices using an analytic framework developed by economic sciences Nobel laureate Robert Shiller and…