China On Verge Of Violent Debt Jubilee As “Disgruntled” Homebuyers Refuse To Pay Their Mortgages (Zero Hedge)

• First, it was the violent outcry against mandatory covid vaccines that put an end to Beijing’s desire to forcibly innoculate all Beijing residents in just 48 hours – a feat not all of America’s armed militias have been able to achieve, and now it’s a grassroots push for what appears to be a debt jubillee as millions of homeowners suddenly stop paying their mortgages, a shocking move that has sent shockwaves across China’s capital markets and has sparked panic within China’s political leadership circles.
• As Bloomberg reports overnight, a rapidly increasing number of “disgruntled Chinese homebuyers” are refusing to pay mortgages for unfinished construction projects, exacerbating the country’s real estate woes and stoking fears that the crisis will spread to the wider financial system as countless mortgages default. READ MORE

Similar Posts:

• Behind China’s $1 Trillion Plan to Shake Up the Economic Order (Independent)
• How Big of a Threat is China’s Xiaomi to Apple? (Bloomberg)
• China Faces Pushback on Belt and Road Indebtedness (The Asset)
• Lessons from Autohome Inc’s Battle With Foreign Shareholders (Bloomberg)
• China’s Gung-ho Foray Into Africa Gets a Reality Check (Bloomberg)
• China’s $246B Foreign M&A Buying Spree Is Slowing (Bloomberg)
• China Definitively Reins In Jack Ma’s Ant Fintech Empire – Agreement Reached On “Restructuring” (ZeroHedge)
• U.S.-China Trade War: The New Long March (Guggenheim Investments)
• Xiaomi Smartphones Are Coming to an Emerging Market Near You (Bloomberg / Tech in Asia)
• The 40 Biggest Chinese Stocks Being Added to the MSCI Index (Fortune)