Mortgage Default Movement Sparks in China PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Mortgage Default Movement Sparks in China

A movement has began in China to default on mortgage payments on pre-bought properties that remain unfinished by property developers.

The “stop mortgage repayment” movement has spread to 274 projects over different provinces and cities with each project having on average 3,000 apartments. Thus more than two million people could be defaulting in protest.

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