test
all grilled
back soon enough
no pics though
Chinese Homebuyers Across 22 Cities Refuse to Pay Mortgages
Across China, homebuyers are refusing to pay mortgages as property developers drag on construction projects, escalating the country’s real estate crisis and risks of bad debt for banks. Buyers of 35 projects across 22 cities have decided to stop paying mortgages as of July 12 due to project delays and a drop in real estate prices, Citigroup Inc. analysts led by Griffin Chan wrote in a research report distributed on Wednesday.
The payment refusals underscore how the storm engulfing China’s property sector is now affecting the country’s middle class, posing a threat to social stability. Chinese banks already grappling with challenges from liquidity stress among developers now also have to brace for homebuyer defaults. Now is “a critical time for social stability,” said Chan, adding that “the forgoing of down payments may bring social instability.” A drop in home values hasn’t helped. Average selling prices of properties in nearby projects in 2022 were on average 15% lower than purchase costs in the past three years, according to Citigroup’s research. The contagion is spreading to banks. Non-performing loans triggered by the wave of mortgage payment snubs could reach as much as 561 billion yuan ($83 billion), about 1.4% of the outstanding mortgage balance, according to Chan. While the overall impact on banks will be “manageable,” state lenders including China Construction Bank Corp., Postal Savings Bank of China Co. and Industrial & Commercial Bank of China Ltd. may have more exposure to mortgages, and could suffer setbacks amid dampened investor sentiment, Chan wrote.
The latest development comes at a time when renewed risks of Covid restrictions also pose a threat to the industry. A key real estate index fell 3.8% in the past two days, the worst two-day performance since June 13. A Bloomberg index of China’s high-yield dollar bonds fell to the lowest in a decade as of Tuesday. Domestic bonds of large property developers, including Gemdale Corp. and Country Garden Holdings Co., also slumped to record lows.
https://www.bnnbloomberg.ca/chinese-homebuyers-across-22-cities-refuse-to-pay-mortgages-1.1791120
#965
>>142669 Janet fear prons Oil as it drops: Oil slides on strong dollar and weaker demand outlook-Oil prices could jump to $140 per barrel if Russian crude doesn't get a price cap, US Treasury official says CPI are gonna be "surprising" and peaked again...
>>142670 Planefag:High-level (when it goes overseas) PAT78 G5 inbound from RAF Northolt/2 Globemasters from USAF Air Mobility Command heading to Israel or SA with Potato equipment/Australian AF inbound to Dover after a load-out at Rzesow on 0790 of 90 minutes
>>142671 SpaceX booster rocket bursts into flames during test
>>142677 SAM478 USAF G5 departed JBA and heading across the Atlantic-likely to Tel Aviv or Jeddah after a ground stop at Shannon for a refuel + SPAR465 gibs it's report after the Minotaur 'splosion last week-left JBA after several stops
>>142679 Putin to visit Tehran amid Iranian drone acquisition allegations-Liberal media/peeps heads 'splode in 3...2..1.
>>142681, >>142683 Mourners farewell slain ex-PM Abe as funeral held at Tokyo temple-Separately, memorial services are scheduled to be held later in Tokyo and Yamaguchi..possibly 45/FLOTUS went to service in Yamaguchi?
>>142682, >>142682 Poland, Israel improve ties as ambassador starts work-Kerry is in Poland for some reason @ClimateEnvoy Warsaw is becoming cleaner and greener....
>>142689 German AF GAF841 A321 Eco. Min. and Vice chancellor Robert Habeck on this AC departed Vienna after arriving yesterday-Gas deal plus Iran talks on-going in Vienna
>>142692 Inflation data 'already out of date:' White House downplays CPI expectations-WH CPI rhetoric: Already setting up to be totally "surprised and peaked"...next months will be lower as it trailed off in July last year-and a BIG reason why they have taken down Silver and Gold
>>142695 2 USMC F-18C Hornets AE21s and 22 just east of Warsaw and they just got a drink from BART10 KC-135 tanker
>>142704 Coming apart and FAST news: Contagion is habbening in China: Chinese Homebuyers Across 22 Cities Refuse to Pay Mortgages-China’s high-yield dollar bonds fell to the lowest in a decade as of Tuesday
Japanese Air Self-Defense Forces COBBY62 KC-767 tanker off Okinawa-Shanghai is upper left and just finished on the refueling track-heading back-he's not up dhere filling air-prolly F-18s and some JASDF F-35s and heading NW towards the Yellow Sea
Live look
https://globe.adsbexchange.com/?icao=87cc0b
feex't already
refresh
should be able to and not lose it
had to log back in
just not allowing pics now so stability coming back
aea719 (3)
night
pepe_see_fren_hug_fren_.png
A YUGE Clue here on 45/Melania Japan Trip Muh guess is that once 45/FLOTUS return from Japan (and wherever else he has been-kek-like mebby NoKo) this will be used to take 45 back to Morristown,NJ
This AC FFL548 was used for the 45's Rally in Quincy, IL and took 45 back to Morristown Muni Airport on 0625: >>140584, >>140602 pband has sat there until yesterdayit moved to Orlando/Sanford Int'l and is currently on the ground now as of last visible trace'''
FFL548 Citation C750 moved from Morristown, NJ had a stop at Monmouth Executive Airport, NJ for 38 minutes and then arrived at Orlando Sanford Int'l Airport-where it is right now
https://globe.adsbexchange.com/?icao=a0fe3f&lat=26.262&lon=-65.659&zoom=5.0&showTrace=2022-07-11