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How scary is China’s real estate mess?

Updated: Jul 25, 2022, 21:55 IST

When the world’s most populous nation begins selling apartments for garlic and watermelons, you know something is wrong. Sure, there’s an economic problem. And China has had a long and arduous battle with Covid-19. But so has the rest of the world. And we haven’t heard of developers in India willing to sell apartments for peanuts or bananas.
So what’s happening in China? The short answer is huge debts. That’s bad news for real estate development companies. It’s also bad news for homebuyers. And it’s bad news for investors. All of which adds up to very bad news for the Chinese economy. And what’s bad for the Chinese economy is going to be bad for the rest of the world.

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