2 years, 5 months ago

Why squatters in unfinished apartments spell trouble for Xi Jinping : The Indicator from Planet Money : NPR

The mess at the heart of China's economy Enlarge this image Noel Celis/AFP via Getty Images Noel Celis/AFP via Getty Images For the past few decades, China's housing market has reached astonishing heights. As Xi Jinping takes on a third term as China's leader, though, the country is in the midst of a generational housing crisis. The nation's largest developers are defaulting on their credit obligations, millions of homebuyers have been waiting years for apartments that still aren't finished and citizens are refusing to pay their mortgages en masse in a rare form of domestic protest. For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

NPR

Discover Related