Built to Win

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In an effort to provide a better future for their children,

many

had

placed

their

whole

life

savings

into

Evergrande's projects but because of the company's

financial difficulties, many of these projects' construction

has halted, placing purchasers in a bind. Many face the

bleak possibility of losing their investments or being

confined in unfinished and uninhabitable apartments as a

result of Evergrande's incapacity to finish these complexes.

But what is causing the housing crisis in China?

Firms and citizens alike, have long seen real estate in China

as a safe, profitable investment and as a store of value.

But this has resulted in homeownership becoming more and

more out of reach for regular people as a result of the

speculative frenzy that has driven up property prices to

unsustainable heights in many cities. Government policies

and incentives have also played a role in fueling this

speculation. Chinese local governments mainly rely on land

sales and property taxes for revenue and thus have a

stake in preserving high property values, which

frequently results in insufficient regulation and control of the

real estate industry. As a result, property prices in many

Chinese cities have surged.

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