[RE]

Another Chinese RE developer is on the rocks, and based on past history with Evergrande it should take about 1-2 years for them to go belly up and need a bailout from the CCP.  Given China's more depleted economic condition now, it will be interesting to see how well they can withstand another big domino falling in their increasingly unstable game of smoke and mirrors the MSM refers to as an economy.  As with the game of musical debt being played here, the smartest guys in the room can only keep the music going for so long before the ballroom dancers realize there are only a couple of chairs in a room full of banksters doing the tango.  At some point there's going to be a mad scramble for those last 2 chairs when the whole ballroom collapses into the basement.  The carnage will be magnficent.

https://www.scmp.com/business/article/3254997/china-vanke-debt-downgraded-junk-status-moodys-liquidity-concerns-mount-amid-tumbling-property-sales

China Vanke debt downgraded to 'junk' status by Moody's as liquidity concerns mount amid tumbling property sales

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[RE]

Looks like the Vanke collapse is moving along quicker than Evergrande, at least so far.  Interesting to see if there is any contagion with the FSoA commercial RE problems.  The same banks who buy Mortgage backed securities her buy them on the international market also.  If they have a margin call on either end of Venke misses a coupon payment, the problem could bleed across markets pretty quickly.  I love times like these.  You can see Bankster assholes puckering with each new story.  It's what I live for these days.  lol.

https://www.businessinsider.com/china-economy-property-crisis-vanke-get-uglier-analyst-charlene-chu-2024-3

China's property crisis could get even uglier. This time, a state-backed developer is the one raising concerns.

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[K-Dog]

Property sales in mainland China declined for the tenth straight month in February, as lower demand during the Spring Festival holidays weighed and expectations are the beleaguered sector's woes will continue, pressured by low homebuyer confidence.

From an article.

Boom and bust is a feature of the system.

[RE]

Boom and bust is a feature of the system.

That was the old system.  Now it's the Bust-Bailout-Bigger Bust cycle.

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