China’s Money Kine Trouble: Get Plenny in Da House Market, Den Bang… 💸🏠💥
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China Trow All Kine On Top Real Estate. Now, Da Economy Paying Da Price.
Right now? Dea economy taking licking aftah depending on one borrow-to-build model fo’ plenny years backside 🏦📉 Beijing gotta make some hard-kine choices about how fo’ handle dea housing market and economic future 💰🏠 Share full article183 Befo’ it wen broke down to pieces, China Evergrande was right in da middle of China’s big boom time 💥 Credit…Gilles Sabrié for The New York TimesBy Alexandra StevensonReporting from Hong KongOct.
16, 2023 When everybody thought dat only good tings going happen with China’s housing boom time 🚀 Gary Meng’s parents went buy one apartment from that same company – Evergrande – who is like the biggest developer in all of china 😮 Soon aftah dat the company called them up wit anoda pitch: dem guys wanted manage their wealth. Gary Meng family thought was a sweet deal wit small kine risk cause Evergrande had global recognition and they were politically important at heart of where china money stay growing 👍 They invested every penny they had saved up over there ⌛💸 Den something nobody expected happened!
In 2021,Evergrande defaulted meaning everything came crashing down starting off a real estate meltdown that shooked up china’s economy bad bad left some big companies flat out dead and people waiting for more than a million apartments 🏢🔥 Last week, anoda company in trouble – Country Garden – said they no mo’ money left, signaling that the worst may be yet to come.
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China’s Economy Suffers: Overinvestment in Real Estate Fallo…
China Bet Everything On Real Estate.
Their economy is suffering after relying on a borrow-to-build model for many years 🏦📉 Beijing now faces tough decisions about how to manage their housing market and economic future 💰🏠 Share full article183 Before it collapsed, China Evergrande was at the heart of China’s major boom 💥 Credit…Gilles Sabrié for The New York TimesBy Alexandra StevensonReporting from Hong KongOct.
16, 2023 When everyone believed that only good things would come from China’s housing boom 🚀 Gary Meng’s parents bought an apartment from that same company – Evergrande – which is considered as one of biggest developers in all of china 😮 Shortly after that purchase they were approached with another proposal: they wanted to manage their wealth.
Gary Meng family thought it was a great deal with minimal risk because Evergrande had global recognition and held political significance where Chinese money continued growing 👍 They invested every penny they had saved ⌛💸 Then something unexpected happened!
