09-14-2021, 01:12 AM
(This post was last modified: 09-14-2021, 01:13 AM by crimsonghost747.)
Just a thread for talk about a BIG potential disaster that, for some reason, hasn't really been talked about here.
Long story short, Evergrande, one of the largest real estate companies on the planet, is about to go bust. I think this is more of a certainty than speculation now. There are demonstrations in their HQ, they have apparently hired bankruptcy lawyers etc. Rest of the chinese housing sector is tanking with them etc.
Stock (3333.hk) down from $15 to $3 year to date. Bonds are worthless. From what I can gather, the consensus seems to be that the Chinese government will take over at some point so some of the necessary functions of the company can continue but it does look like the $300b of bonds is going to go down the drain.
This is bound to create some ripples... both in the housing sector and banking.
Long story short, Evergrande, one of the largest real estate companies on the planet, is about to go bust. I think this is more of a certainty than speculation now. There are demonstrations in their HQ, they have apparently hired bankruptcy lawyers etc. Rest of the chinese housing sector is tanking with them etc.
Stock (3333.hk) down from $15 to $3 year to date. Bonds are worthless. From what I can gather, the consensus seems to be that the Chinese government will take over at some point so some of the necessary functions of the company can continue but it does look like the $300b of bonds is going to go down the drain.
This is bound to create some ripples... both in the housing sector and banking.