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How The Chinese Mortgage Boycott Was Started By The Evergrande Crisis

The Chinese mortgage boycott is growing. The mortgage boycott has now spread to suppliers and contractors who have not been paid from real estate developers like Evergrande Group.
The Chinese mortgage boycott started because many people who purchased homes from developers like Evergrande Group are still waiting for them to be built. They have been paying the mortgage on these homes while the construction has stopped because of the debt crisis.
Now the government has stepped in to get banks to loosen standards to lend to the developers so that they can finish the projects that buyers have already paid for.
The buyers are on a mortgage strike and are encouraging more buyers in the same situation to join the boycott.

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Written by Financially Aware

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  1. The west never understand China's socialism. They made a big noise about Evergrande fiasco. It is not a big deal to clean up for the Chinese government. It is socialism economy. They do not just give the government money to bail out was the US government does for the big bank's failure. Iam watching this11 month old video and your prediciton was all wrong. Just a good proof.

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