China's President Xi Jinping aims to revive the housing market, with local governments allowed to borrow $138 billion for unsold homes. Despite efforts, there are around 10 million unfinished apartments, exacerbating the oversupply issue.
China Tries Again to Prop Up Its Housing Market. It Doesn’t Go Far Enough. https://t.co/mE1hDDp8Bi
"China has a bigger problem lurking behind all those empty apartments: even more homes that developers already sold but have not finished building. By one conservative estimate, that figure is around 10 million apartments." @jotted https://t.co/rhikQ8UsKH
China has nearly four million apartments that no one wants to buy. Xi Jinping has called on the government to buy them, but that is not enough. 10 million apartments that developers have sold but not finished building are still in limbo. https://t.co/QXg3vfBWWJ
FT: “No matter how you slice and dice it, it just seems the size and scale of the problem is a lot bigger than at least what we can see,” said Hui Shan, chief China economist at Goldman Sachs. “There is an oversupply problem in the housing market.” https://t.co/Y8jOrAW3Aw
Lol, China is still building $150-200B in new residential properties…per month. https://t.co/YUtTEG4cJ0
From @Breakingviews: China President Xi Jinping has given the strongest signal yet that he is determined to revive the country's housing market. Chan Ka Sing explains why the $138 billion that local governments can borrow to buy unsold homes is not enough https://t.co/d7MnFyOSaC https://t.co/Uld7tHI3OW