Recently, a number of private real estate companies in mainland China went bankrupt, and Chinese state media blamed the problem on illegal loans by private banks. Some financial commentators believe that private banks will become targets for suppression under communist leader Xi Jinping’s regime. China’s state outlet Economic Daily published a op-ed on Oct. 15,…
Should I Have My Brand-New Home Inspected?
Dear Monty: Should I have my brand-new home inspected? I am in the process of building a new house. My agent told me that, on completion, I should have an inspection. My builder informs me that it is inspected three times during the process and once after completion. They use an independent inspector to check…
Evergrande Risks Are ‘Controllable,’ China’s Central Bank Says
October 15, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesevergrandehousingInvestmentMarketsreal estateWorld
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The debt crisis plaguing China Evergrande Group is “controllable” and unlikely to spill over, the country’s central bank said on Oct. 15 amid growing fears that its potential collapse could trigger a global domino effect. With over $300 billion worth of liabilities, Evergrande is the world’s most indebted real estate developer. The company has missed…
Evergrande Risks Are ‘Controllable,’ China’s Central Bank Says Amid Growing Fears
October 15, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesevergrandehousingInvestmentMarketsreal estateWorld
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The debt crisis plaguing China Evergrande Group is “controllable” and unlikely to spill over, the country’s central bank said on Oct. 15 amid growing fears that its potential collapse could trigger a global domino effect. With over $300 billion worth of liabilities, Evergrande is the world’s most indebted real estate developer. The company has missed…
China Real Estate Shares, Bonds Hit by Evergrande Concerns
October 14, 2021
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SHANGHAI—Shares and bonds of Chinese real estate companies slid on Thursday, reflecting uncertainty about how a debt crisis will play out at China Evergrande Group and the wider property sector as another developer was hit by a rating downgrade. Evergrande, which has more than $300 billion in liabilities and 1,300 real estate projects in over…
3 Ways to Survive the Real Estate Gold Rush
Everyone’s talking about the real estate gold rush. And buyers are doing some pretty crazy stuff to stay competitive—like offering way over the asking price and, in some cases, offering the naming rights to their firstborn child. Yikes! This hype comes from some real factors influencing people to act quickly. Since the start of the…
Look Out, Real Estate Boom. It’s the Closing Scam Tornado.
When Jeff, a retired marketing consultant from Chicago, was closing on his home sale, he received a new set of instructions at the last minute on where to send several thousand dollars in closing expenses. At first blush, the email looked legit with an official-looking logo and professional language specifying the amount owed and itemized…
Blinken Tells China to ‘Act Responsibly’ in Evergrande Crisis
October 6, 2021
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U.S. Secretary of State Antony Blinken on Oct. 6 urged China to “act responsibly” in handling the debt crisis of real estate developer China Evergrande Group, warning that impact of Beijing’s decisions will resound around the world. Evergrande, which has more than 1,300 housing projects in some 280 cities, is now the world’s most heavily…
Invest in These for Passive Income
When it comes to personal finance, passive income is the holy grail. And, for a good reason. A passive income gives you more time on your hands and less financial stress. Also, as we’ve hopefully learned from the COVID-19 pandemic, having multiple income streams can make all the difference in the world. But, how can…
Chinese Developer Misses Payment Amid Deepening Housing Market Woes
October 5, 2021
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A midsize Chinese property developer’s failure to make over $300 million in payments to lenders is deepening fears of turmoil in the real estate sector in the world’s second-largest economy, where the country’s top-selling developer is teetering the edge of collapse. Fantasia Holdings Group, a Shenzhen-based developer, missed paying $206 million worth of bonds that…
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