Tag: Mortgage

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In China, Steps to Ease Mortgages as Real Estate Loses Its Sizzle

The economic slowdown is leaving new housing developments empty in China’s cities, complicating the government’s relief efforts, according to this report in the New York Times:Banking experts and economists expect this to produce a surge in loan defaults for Chinese banks by next spring or summer that will erode the high profits banks have been earning in the last three years although