China's 'housing bubble is finally popping' - Chen Lin

2022-08-18 9:36:00 PM

Kitconews, Gold

China 's ' housing bubble is finally popping' - Chen Lin kitconews gold silver finance economics investing metals mining

On Wednesday Lin spoke to Kitco. On Monday the People's Bank of China made a surprise interest rate cut to shore up the country's economy. The country has seen too much housing speculation, expressed Lin."The housing bubble is finally popping. There's a serious problem: a lot of empty apartments," said Lin who noted that a lot of people took on mortgages for uncompleted houses and apartments, and the deteriorating economic picture means that those projects may never get built.

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