ICYMI - China boycotts on mortgage payments spread across at least 301 projects, 91 cities

This from Singapore media:

• rapidly escalating boycotts on mortgage payments spread across at least 301 projects in about 91 cities
• home owners accuse developers of failing to deliver apartments they have already paid for
• the value of mortgages that could be affected has swelled to an estimated US$297 billion

This has been gathering pace. It's a symptom of the contagion spreading across China's property sector, which has buckled under the massive debt load. There are 'bail out' measures in place, this for example:

• Chinese authorities moving to underpin troubled construction sector

As always, and everywhere, bailouts are not for the ordinary folks. Hence these people in China facing non-delivery of apartments are refusing to make payments.