☨St Louis IX opposed paganism, hæresy \x26 debauchery
China Observer
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Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Housing Prices Halved, With Successive Foreclosures; China’s Economy May Take 10 Years to Recover" video.
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😔 Vloggers in the real estate sector in China are facing financial difficulties as housing prices have fallen due to the pandemic, leaving them torn between repaying their mortgages and defaulting.
00:19
The vlogger bought a house in 2018 for 1.75 million RMB and owes the bank 1.2 million RMB, losing most of her initial down payment.
The vlogger worked in the real estate sector for 5 years and believed her house would be an asset, but now it has become a liability.
Another individual took out a loan to buy a house in 2019 and is struggling with high monthly repayments, with most of it going towards interest.
💔 A man's property investments go sour, leading to massive debts and a damaged credit reputation.
05:16
The man's properties were at risk of foreclosure due to reduced income and inability to make mortgage payments.
The property market tumbled, resulting in a significant loss when the man tried to sell one of his properties.
The man faced legal action from the bank, had his properties auctioned, and accumulated a total loss of 10 million yuan.
🏢 China's real estate market is in a slump, with foreclosed properties not selling and prices dropping.
10:53
China's real estate market has hit rock bottom due to negative population growth and companies building houses on debt.
Real estate auctions face challenges as population growth is negative and getting a good deal may be challenging for the next 5 to 10 years.
The slump in the real estate market has also impacted the financial trust industry, with defaults from Zhongrong International Trust affecting other companies.
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