The Chinese property sector, which is already in bad shape, is taking another blow.
A growing number of Chinese homebuyers are refusing to make mortgage payments on homes they’ve already bought. These are homes that are still under development, but construction has been stalled.
Homebuyers have stopped mortgage payments on at least 100 property projects in more than 50 Chinese cities.
How will this affect China’s property sector? NTD spoke with Brian McCarthy, chief strategist at investment advisory firm Macrolens.
