China housing crisis: Despair as unfinished homes stay stalled

AFP English 2023-07-27

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China's real estate industry grew at lightning speed from the late 1990s and was a major driver of the country's turbocharged economic expansion. But with growth slowing and debts swelling, authorities cut off access to easy loans in 2020, creating a bigger crisis for embattled property developers that continues to today. Here is a look at how the crisis in the property sector -- one of the most important pillars of the nation's economy -- has affected the lives of people in China.

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