China's Property Market Meltdown Begins As Evergrande Panic Spreads, Net Worth To Disposable Income
Subscribe to grow at home http://youtube.com/c/growathome
follow our backup channel
http://bit.ly/odyseesru
http://silverreportuncut.com
Subscribe to the SRU podcast
http://soundcloud.com/silverreport
http://silverreportuncut.podbean.com
Follow Us On Telegram http://t.me/silverreport & https://parler.com/profile/silverreport/posts
anyone can post on our public group http://t.me/silverreportforum
Ad revenue is down almost 70%, it's viewers like you who help keep the sru coming! you can donate via crypto at our website or consider supporting our work on
http://buymeacoffee.com/silverreport
https://www.patreon.com/silverreport
CCB International, the Chinese investment bank, touched on in a recent research note in which it said that Evergrande "risk has spread from financing to land sales, property sales, project deliveries and home prices."
And indeed, as the FT reports this morning, some very ominous cracks in China's property market - which according to Goldman is the largest asset class globally - are starting to emerge.
In a letter to the Shaoxing municipal government in eastern Zhejiang province, the local office of developer Sunac China appealed for “policy assistance” as it was struggling through what it called a "turning point in China’s real estate industry."
"We have never experienced such a radical change in the external environment," Sunac’s Shaoxing office said, pointing to a 60% year-on-year fall in home sales over the summer.
"The market is almost frozen," it added in the letter, which was first reported by the Financial Times. “The radical change in policy and environment has seriously disrupted our business and made it very difficult to maintain normal operations.”
The ratio of Household Net Worth to Disposable Net Income broke records At 786% in the latest quarter.
-
9:31
TheGlobalMacroDigest
3 months agoChina's Trillion Dollar Real Estate Collapse
8 -
59:57
Lei's Real Talk
1 year ago33 Evergrandes? Making sense of China’s economic data and real estate bubble
271 -
1:01:30
Lei's Real Talk
9 months agoWill China's real estate crisis shut down the local governments?
67 -
15:06
Heresy Financial
2 years agoCould China's Evergrande Spark the Next Global Financial Crisis?
14 -
12:26
The Money GPS
1 year ago $0.01 earnedChina Homebuyers STOP Paying | Contagion Fears Hit Banks
1541 -
9:44
NONCONFORMING-CONFORMIST
1 year agoChina Massive Mortgage Fraud Reveals Extreme Threat To Real Estate
25 -
0:57
Homes In Orlando For Sale
8 months agoChina's Property Crisis Deepens: Country Garden on the Brink?
1 -
10:41
informedinvestors
1 year agoChina's Economic Crisis: GDP is Crashing and the Protests are only Beginning
12 -
15:56
Millionaire Diaries
1 year agoChina's Economy Will COLLAPSE Very Soon
3 -
9:42
sajjad820
7 months agoChina's housing crisis deepens as Evergrande shares slide - BBC News
3