Premium Only Content

U.S. Dollar DOOM LOOP in Effect Now! Is This Really A Curse?
My New Channel:
https://www.youtube.com/channel/UCWx1ZkC9eM4khwdr7zplo8g
TOPICS AND TIMESTAMPS:
Reverse Currency 0:00
U.S. Dollar Strength 0:13
The Dollar Doom Loop 3:33
Real Estate Falls From Peak 7:21
How an Empire Falls 8:54
More Chinese Homebuyers Refuse to Pay Mortgage Loans Amid Contagion Fears
Bank stocks fell on concern property crisis is spreading
Projects facing mortgage snubs more than tripled since Monday
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.
Homebuyers have stopped mortgage payments on at least 100 projects in more than 50 cities as of Wednesday, according to researcher China Real Estate Information Corp. That’s up from 58 projects on Tuesday and only 28 on Monday, according to Jefferies Financial Group Inc. analysts including Shujin Chen.
“The names on the list doubled every day in the past three days,” Chen wrote in a note published Thursday. “The incident would dampen buyer sentiment, especially for presold products offered by private developers given the higher risk on delivery, and weigh on the gradual sales recovery.”
The delayed projects make up about 1% of China’s total mortgage balance, according to Jefferies. Should every buyer default, that would lead to a 388 billion yuan ($58 billion) increase in non-performing loans, Chen said. The report didn’t give any estimate for how many buyers are snubbing repayments.
Some major Chinese banks rushed to respond during trading hours on Thursday as the CSI 300 Banks Index fell as much as 3.3%. State-owned Agricultural Bank of China Ltd. said it held 660 million yuan of overdue loans on unfinished homes, while smaller rival Industrial Bank Co. said 1.6 billion yuan of mortgages were impacted, of which 384 million yuan have become delinquent. China Construction Bank Corp., the nation’s largest mortgage lender, said overall risks are controllable as its exposure to delayed projects is small.
The payment refusals underscore how the storm engulfing China’s property sector is now affecting hundreds of thousands of average citizens, posing a threat to social stability ahead of a Communist Party Congress later this year. Chinese banks already grappling with challenges from liquidity stress among developers now also have to brace for homebuyer defaults. A Bloomberg Intelligence index of Chinese developer stocks slid as much as 2.7%.
—————————————————————————————————
💵 HOW TO MAKE MONEY ON AMAZON - FREE eCOURSE: 💵
👉 http://TheAmazonGPS.com 👈
—————————————————————————————————
LOOK THROUGH MY BOOKS! http://books.themoneygps.com
MY FAVORITE BOOKS: https://youtu.be/Y_mwbfp1ULU
SUPPORT MY WORK: https://www.patreon.com/themoneygps
PAYPAL: https://goo.gl/L6VQg9
—————————————————————————————————
T-SHIRTS: http://merch.themoneygps.com
—————————————————————————————————
Sources Used in This Video:
http://bit.ly/TheMoneyGPSSources2022
—————————————————————————————————
The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It's simply data that is generally not found through conventional means.
#recession #inflation #investing
Music Provided by Skip Fearless
Graphics: https://foundation.app/@Haptic404
https://www.instagram.com/haptic404/
-
15:24
The Money GPS
1 year ago $0.15 earnedBanks Have $650 Billion of Losses Hidden and It’s About to Get MUCH Worse
5712 -
17:14
Mrgunsngear
3 hours ago $3.83 earnedUpdate: Current Glocks Discontinued & Glock V Series Is Coming!
4.47K19 -
2:52:54
Barry Cunningham
4 hours agoMUST SEE: PRESIDENT TRUMP NATO PRESSER! AND NEW YORK CITY MAYORAL DEBATE!
29K35 -
13:15
Cash Jordan
6 hours ago"INVASION" Mob STRIKES Chicago Jail… FRONTLINE Marines IGNORE Judge, SMASH Illegals
10.9K17 -
LIVE
SpartakusLIVE
3 hours ago#1 Solo Challenge CHAMPION entertains HERDS of NERDS
249 watching -
LIVE
Alex Zedra
2 hours agoLIVE! New Game | DeathWatchers
178 watching -
DVR
Nikko Ortiz
3 hours agoShotguns With A Magazine... |Rumble Live
7.54K -
23:18
Lady Decade
8 hours agoThe Diversity Lie Gaming Refuses To Talk About
7.3K4 -
LIVE
Geeks + Gamers
3 hours agoGeeks+Gamers Play- MARIO KART WORLD
156 watching -
5:33:12
Midnight In The Mountains™
6 hours agoGaming w/ Midnight | Studio is BACK and SO ARE WE | 3 AWAY FROM 1,500 WILL YOU GET ME THERE?!
3.54K3