China's mortgage boycott Could the property market crumble Counting the Cost

Real estate has been one of the biggest drivers of economic growth in China accounting for one-third of the country's 18 trillion gross domestic product GDP It is not just the broad economy that relies on it households do too Up to 70 percent of their wealth is tied up in the sector But strict coronavirus restrictions and a debt crisis among developers have slowed the property market and halted construction on thousands of projects Homebuyers are now frustrated and are refusing to pay mortgages on properties they have bought Elsewhere we look at what is next in space if Russia leaves the ISS Subscribe to our channel a http 3A 2F 2Fbit ly 2FAJSubscribe a Follow us on Twitter a https 3A 2F 2Ftwitter com 2FAJEnglish a Find us on Facebook a https 3A 2F 2Fwww facebook com 2Faljazeera a Check our website a http 3A 2F 2Fwww aljazeera com 2F a Check out our Instagram page a https 3A 2F 2Fwww instagram com 2Faljazeeraenglish 2F a AljazeeraEnglish Aljazeeraenglish News

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