Published Feb. 21, 2024, 12:03 a.m. by Monica Louis
china’s property crisis is expected to get worse as sales of new homes plummet and indebted developers struggle to find funds to complete projects. Real estate giant evergrande was recently forced to liquidate as more than 50 housing developers have defaulted on their debts in recent years.
WSJ’s Jonathan Cheng travels to an abandoned “ghost town” in Shenyang City built by the Greenland Group to explain how china’s real-estate slump has become a headache for the government.
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news.
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