HONG KONG -- Chen Peng put his entire life savings, and that of his parents, into a 300,000 yuan ($44,000) down payment for a condominium that should have been finished in 2018. Four years later, the 36-year-old musician is still waiting for the keys.
Hundreds of thousands of Chinese condo buyers are joining mortgage strikes, some of whom have gone years paying down loans for homes that remain unfinished. © Reuters
Asia Insight
China mortgage strikes threaten property sector's house of cards
As unfinished homes disrupt lives, pressure grows on developers and Beijing alike
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