After Evergrande collapsed, Evergrande had 1,318 unfinished residential projects nationwide, 1.62 million apartments, leaving roughly 5 million people homeless...
Xü Jiayin was sentenced to life in prison, but what he left behind is a mess that cannot be handled by a single court judgment.
At its peak, Evergrande carried debts of over 300 billion US dollars and developed about 1,300 projects across roughly 280 cities nationwide.
The punishment for Xu Jiayin only resolved the issue of the responsible individuals. Whether the remaining projects can be completed, where the funding will come from, and how much cost local governments and financial institutions will bear—these factors will determine when this crisis ends.
If an uncompleted home can make homebuyers shoulder a 30-year mortgage in advance, then who, exactly, is the pre-sale system truly protecting? #许家印认罪 $BTC #美国初请失业金人数降至20.6万
Xü Jiayin was sentenced to life in prison, but what he left behind is a mess that cannot be handled by a single court judgment.
At its peak, Evergrande carried debts of over 300 billion US dollars and developed about 1,300 projects across roughly 280 cities nationwide.
The punishment for Xu Jiayin only resolved the issue of the responsible individuals. Whether the remaining projects can be completed, where the funding will come from, and how much cost local governments and financial institutions will bear—these factors will determine when this crisis ends.
If an uncompleted home can make homebuyers shoulder a 30-year mortgage in advance, then who, exactly, is the pre-sale system truly protecting? #许家印认罪 $BTC #美国初请失业金人数降至20.6万