▲ 296 ▼ What the collapse of a company owing $300 billion means for the world (www.businessinsider.com) submitted 2 years ago by Ninjazzon@infosec.pub to c/world@lemmy.world 79 comments fedilink hide all child comments A Hong Kong court ordered the liquidation of China Evergrande, the world's most indebted property developer. Evergrande has assets of about $245 billion, but owes about $300 billion. Its demise is a "controlled collapse," but still raises systemic risk and will hurt investors, says an analyst.
[+] FlorianSimon@sh.itjust.works 4 points 2 years ago* (last edited 2 years ago) (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Croquette@sh.itjust.works 5 points 2 years ago It's mental. A rundown shoebox in my neighborhood is upward of 600k even with interest rates as they are now. We are holding on our apartment as long as possible, wishing that we don't have to move until kindergarten is done for our youngest. The moment we are forced to move, it will cost us easily 1k$/month more for a lot less space. permalink fedilink source parent
[–] Croquette@sh.itjust.works 5 points 2 years ago It's mental. A rundown shoebox in my neighborhood is upward of 600k even with interest rates as they are now. We are holding on our apartment as long as possible, wishing that we don't have to move until kindergarten is done for our youngest. The moment we are forced to move, it will cost us easily 1k$/month more for a lot less space. permalink fedilink source parent