The party has ended for the world's biggest real-estate boom
Over the weekend, Adam posted on:
- part of a deliberate China deleveraging that will be allowed to run its course via asset sales. We got a taste of that today with Evergrande offering to pay back investors via property.
Wall Street Journal now with its piece on China Evergrande Group that it's paying bills with unfinished apartments. (Journal may be gated)
And saying, thus:
- The party has ended for the world's biggest real-estate boom. A paint supplier based in the southeastern province of Fujian said Evergrande recently paid off the equivalent of $34 million in bills with three unfinished properties, which the supplier is trying to sell.