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Has China’s housing market tanked?

Subscribe to our YouTube channel for free here: https://sc.mp/subscribe-youtube For more on the Evergrande crisis: https://inks.tn/8e5d7a China’s property sector has been a key driver of the country’s economic growth since the 1990s. During the high-growth period, the sector brought in huge revenues and employment that contributed to 30 per cent of China’s GDP. But between 2020 and 2022, China’s housing market suddenly experienced an unprecedented crash; top developers like Evergrande went into default and collapsed, while homebuyers were left in limbo after indebted developers ran out of funds to complete construction. So, how did China’s housing market go from boom to bust? Support us: https://subscribe.scmp.com Follow us on: Website: https://www.scmp.com Facebook:   / scmp   Twitter:   / scmpnews   Instagram:   / scmpnews   Linkedin:   / south-china-morning-post   #scmp #SCMPExplains #Chinaeconomy