Super-Chevy454
kiwifarms.net
- Joined
- Apr 2, 2018
But the guy who might buy it still hope to resale later at an higher price to some suckers.
Evergrande Financial Panic - Corona is not the only Contagion China is exporting
- Thread starter mindlessobserver
- Start date
Sneed's Feed And Seed
Well you're certainly doing your job today Mr. Sun
True & Honest Fan
kiwifarms.net
- Joined
- Mar 4, 2019
I suspects then the takers waits then Evergrande will drop the price and buy the portion in question more cheaply.
- Joined
- Feb 27, 2019
The Great Parkour Backward
- Joined
- Jul 24, 2019
DEAD CHINESE! DEAD CHINESE! 600 MILLION DEAD CHINESE!!!
- Joined
- Jul 1, 2017
Evergrande and their investors got fucked by the CCP but the worst damage was swept under the rug. People started looking into other parts of the Chinese real estate market which is slowly unraveling and so far a few smaller companies have also been fucked. Shit's looking pretty shaky in the Chinese market right now.
- Joined
- Jul 18, 2017
It's not swept under the rug yet. They are currently deferring payments as they search for buyers. They are not really finding any. The true default is at the end of the month.
- Joined
- Jul 18, 2017
The contagion is spreading. Another Domino has fallen.
www.cnn.com
The news media are LYING right now. Ffs, this is kiwifarms. Do I really need to say this? This is not under control. The Chinese government lost control YEARS ago. This cannot be stopped.
Kiwis, you have 3 weeks at most to get ready. If I am wrong hurray, call me a doom pilled faggot. I will take it gladly. Because I don't want to be right.
Hong Kong developer quits the stock market as Evergrande fallout spreads
Chinese Estates Holdings plans to go private after its stock was slammed by fallout from the crisis at Evergrande.
The news media are LYING right now. Ffs, this is kiwifarms. Do I really need to say this? This is not under control. The Chinese government lost control YEARS ago. This cannot be stopped.
Kiwis, you have 3 weeks at most to get ready. If I am wrong hurray, call me a doom pilled faggot. I will take it gladly. Because I don't want to be right.
- Joined
- Mar 3, 2021
I keep forgetting to keep up on news with this, it's getting pretty wild. Wild and weird. Sinic Holdings is another Chinese property company that quietly (as in: there's been relatively minor mention of it) defaulted on interest repayments a couple of days ago. It had its credit rating downgraded the same day that Fantasia's was.
ETA: What the fuck, it stripped the archive.li link I had in the text?
www.bloomberg.com
ETA: What the fuck, it stripped the archive.li link I had in the text?
Shock Default in China Has Investors Eyeing Repayment Dates
China’s property industry has suffered its first default on a dollar bond since China Evergrande Group sank deeper into crisis in recent weeks, fueling investor concerns over other highly leveraged borrowers and about global contagion.
www.bloomberg.com
- Joined
- Feb 27, 2020
I keep forgetting to keep up on news with this, it's getting pretty wild. Wild and weird. Sinic Holdings is another Chinese property company that quietly (as in: there's been relatively minor mention of it) defaulted on interest repayments a couple of days ago. It had its credit rating downgraded the same day that Fantasia's was.
ETA: What the fuck, it stripped the archive.md link I had in the text?
Shock Default in China Has Investors Eyeing Repayment Dates
China’s property industry has suffered its first default on a dollar bond since China Evergrande Group sank deeper into crisis in recent weeks, fueling investor concerns over other highly leveraged borrowers and about global contagion.
Xinyuan seems likely to do the same too and was also downgraded to CCC
El Goblina
kiwifarms.net
- Joined
- May 14, 2019
What does "get ready" mean in this context? What actions are you yourself taking to prepare for this?
wopirish
kiwifarms.net
- Joined
- Jan 19, 2020
Learning which of your neighbors' homes you can easily go grocery shopping at?
- Joined
- Jul 3, 2021
It’s not like fly-by-night Chinese corporations close up shop and disappear all the time.I keep forgetting to keep up on news with this, it's getting pretty wild. Wild and weird. Sinic Holdings is another Chinese property company that quietly (as in: there's been relatively minor mention of it) defaulted on interest repayments a couple of days ago. It had its credit rating downgraded the same day that Fantasia's was.
ETA: What the fuck, it stripped the archive.md link I had in the text?
Shock Default in China Has Investors Eyeing Repayment Dates
China’s property industry has suffered its first default on a dollar bond since China Evergrande Group sank deeper into crisis in recent weeks, fueling investor concerns over other highly leveraged borrowers and about global contagion.
Keep sucking down the copium. This is a big nothingburger. Turns out nobody is surprised that China is built on rice paper. At the end of the day my stocks are going up and I’m collecting dividends while your sacks of gold sit in a closet doing nothing.
Super-Chevy454
kiwifarms.net
- Joined
- Apr 2, 2018
Indeed, that's one of these times, we wish we're wrong. I have a bad feeling then the suicide rate will be higher than deaths by covid in China soon.The contagion is spreading. Another Domino has fallen.
Hong Kong developer quits the stock market as Evergrande fallout spreads
Chinese Estates Holdings plans to go private after its stock was slammed by fallout from the crisis at Evergrande.
The news media are LYING right now. Ffs, this is kiwifarms. Do I really need to say this? This is not under control. The Chinese government lost control YEARS ago. This cannot be stopped.
Kiwis, you have 3 weeks at most to get ready. If I am wrong hurray, call me a doom pilled faggot. I will take it gladly. Because I don't want to be right.
- Joined
- Jul 18, 2017
I've got a 6 month supply of essential foods. I did a full servicing of my vehicle, changed its batteries and spark plugs. Started stocking up on physical silver. Gonna go out and buy a rifle/ammo this weekend. I also went ahead and got a new job under contract so I can't be fired for at least the next few months as it's already funded. Also even pays better then my old one, so yay inflation.
Already had the Crypto currencies. If you are looking for investing tips I would say stay well clear of manufacturing and services like banks and so on. Mining companies are good, as are the tech companies.
That's what I am doing anyway.
Super-Chevy454
kiwifarms.net
- Joined
- Apr 2, 2018
Looks like the kicked can had gone less far then we expected or it had been kicked in the wrong direction. The guys of ZeroHedge claimed then China's worst case scenario is now in play.
www.zerohedge.com
"Catastrophic" Property Sales Mean China's Worst Case Scenario Is Now In Play | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
No matter how the Evergrande drama plays out - whether it culminates with an uncontrolled, chaotic default and/or distressed asset sale liquidation, a controlled restructuring where bondholders get some compensation, or with Beijing blinking and bailing out the core pillar of China's housing market - remember that Evergrande is just a symptom of the trends that have whipsawed China's property market in the past year, which has seen significant contraction as a result of Beijing policies seeking to tighten financial conditions as part of Xi's new "common prosperity" drive which among other things, seeks to make housing much more affordable to everyone, not just the richest. As such, any contagion from the ongoing turmoil sweeping China's heavily indebted property sector will impact not the banks, which are all state-owned entities and whose exposure to insolvent developers can easily be patched up by the state, but the property sector itself, which as Goldman recently calculated is worth $62 trillion making it the world's largest asset class, contributes a mind-boggling 29% of Chinese GDP (compared to 6.2% in the US) and represents 62% of household wealth.
It's also why we said that for Beijing the focus is not so much about Evegrande, but about preserving confidence in the property sector.
But first, a quick update on Evergrande, which - to nobody's surprise - we learned today is expected to default on its offshore bond payment obligations imminently according to investment bank Moelis, which is advising a group of the cash-strapped developer’s bondholders. Evergrande, which is facing one of the country’s largest defaults as it wrestles with more than $300 billion of debt, has already missed coupon payments on dollar bonds twice last month.
The missed payments, worth a combined $131 million, have left global investors wondering if they will have to swallow large losses when 30-day grace periods end for coupons that were due on Sept. 23 and Sept. 29. A separate group of creditors to Jumbo Fortune Enterprises who are advised by White & Case, are also waiting for a $260 million bond principal repayment, after a bond guaranteed by Evergrande matured last Friday, and unlike the offshore bonds, does not have a 30 day grace period (although five business days 'would be allowed' if the failure to pay were due to administrative or technical error).
The Jumbo Fortune payment is being closely watched because of the risks of cross-default for the real estate giant’s other dollar bonds; it would also be the firm’s first major miss on maturing notes instead of just coupon payments since regulators urged the developer to avoid a near-term default. And with the five business days up as of today, and with a payment yet to be made, it appears that this weekend we will get news of a declaration of involuntary default from the creditor group which will set in motion the Evegrande default dominoes.
- Joined
- Dec 21, 2018
Instead of trying to lower the price of acquisition for home buyers they should be focused on changing the rules around their public services. The biggest incentive for an internal migrant in china to buy a home is not wealth retention, its access to things like healthcare and schooling for their children. Until you own a home in a province you remain a citizen of your old province freezing you out of access to public services.Looks like the kicked can had gone less far then we expected or it had been kicked in the wrong direction. The guys of ZeroHedge claimed then China's worst case scenario is now in play.
"Catastrophic" Property Sales Mean China's Worst Case Scenario Is Now In Play | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Its shit that home prices are so expensive in china, but theres a bit of a plus side for those who have no chance of ever buying a home. Rents are retardedly cheap in a lot of areas. So you could spend your hard earned money on shady construction, or you could spend a pittance of it on renting the same property(just hope it doesn't collapse).
I imagine that there are a lot of pissed off chinese people right about now, like the article said real estate is a massive asset class for the Chinese public, it's where the majority of then park their money. They love real estate so much married couples started getting divorced to increase the amount of properties they could own after china instituted a rule setting a hard cap at 3 properties per person/couple.
Garm
kiwifarms.net
- Joined
- Jun 5, 2019
What is the reason for setting up residency like that? I'm just curious about the trade offs.
- Joined
- Dec 21, 2018
wopirish
kiwifarms.net
- Joined
- Jan 19, 2020