China's massive property bubble creates mad scramble to take on decades of debt

Published: 1/10/2017
China's massive property bubble creates mad scramble to take on decades of debt
Source: BOINGBOING.NET

Massive infusions of cash by way of the central bank, combined with runaway mass panic-buying has stampeded Chinese people into buying into the property markets in boomtowns like Shenzhen, despite the insane prices that almost guarantee that they will default on their mortgages -- because they fear that rising property prices will shut them out forever if they don't buy now, and the new rentiers

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