The property market – the liquidity-challenged sector – will not turn the corner anytime soon. Chinese developers are in “survival mode” as they sharply cut property investments in July. In the meantime, new construction starts suffered their biggest fall in nearly a decade.
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Why would they ever finish these condos? They are all pretend properties – just build a husk tower with tofu-dreg units, move on. No elevator, no utilities. No windows. Buyers stopped paying and now they are screwed.
Good
Let's count the days until the Chinese housing market collapses, promoting an economic collapse, followed by a mass uprising and the end of the CCP.
The CCP really knows what they are doing? Will the sheep follow?