China's property stocks fall by the most in nine months as Evergrande says it's unable to issue new debt

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China property crash

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A former Chinese official is telling property developers to 'transform' their businesses as there are more than enough empty homes to house all of China

Tech Insider : Economy
Local residents look at a model of a Poly Real Estate Group housing project at a real estate showroom on May 25, 2023 in Sanya, Hainan Province of China.
A real-estate showroom in China.

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China Evergrande has had a wild ride on the stock market in the 3 weeks since trading was resumed

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China Evergrande property development
China's real-estate market is in a crisis.

Noel Celis/Getty Images

The housing market is brutal. These 6 charts show just how bad things are for buyers.

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The housing market is brutal for buyers right now.
The US housing market is brutal right now, as low inventory keeps unaffordability high.

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The housing market has never been this expensive

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The housing market has never been this expensive.
The housing market has never been this expensive.

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The housing market is about to get a lot more expensive for millennials and Gen Z

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A young adult in their home.
A young adult in their home.

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Country Garden just dodged a default but China's property-debt distress continues

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A residential building of Country Garden in Fuyang City, East China's Anhui Province.
A residential building of Country Garden in Fuyang City, East China's Anhui Province.

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Despite Country Garden's last-gasp payment, China's property sector remains in crisis: two-thirds of its developers with most offshore debt are defaulters

Tech Insider
Chinese President Xi Jinping.
Chinese President Xi Jinping.

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Chinese property giant Country Garden pays its dollar bond interest within grace period, narrowly averting a default

Tech Insider : Economy, Economy
The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai
Chinese property giant Country Garden pays its dollar bond interest within grace period, narrowly averting a default.

Aly Song/Reuters

This is how the billionaires planning a new city near San Francisco imagine their utopia could look

Tech Insider
A mock-up illustration shared onCalifornia Forever's website that shows people cycling on a road near houses and trees
Cycling and green space feature in plans for the new community.

California Forever

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