China's property crash is prompting banks to offer mortgages to 70-year-olds | CNN Business

. Some banks in the cities of Nanning, Hangzhou, Ningbo and Beijing have extended the upper age limit on mortgages to between 80 and 95, according to a number of state media reports. That means people aged 70 can now take out loans with maturities of between 10 and 25 years. China’s property market is in the midst of a historic downturn. New home prices had fallen for 16 straight months through December. Sales by the country’s top 100 developers last year were only 60% of 2021 levels.

” Yan from E-House said the main beneficiary of the move might not be the elderly, but middle-aged borrowers between 40 and 59. Under the extended payment cutoff age, those people could get a mortgage for 30 years — the maximum length allowed in China. Compared with previous terms, it means those borrowers could pay less each month. “It is obviously a way to alleviate the debt payment burden,” said Hong.

i would not play games the companies and goverments pay those people they sue want all thier money back

Half of China's housing prices are land prices, the government is selling land and pushing up land prices, people can't afford it

Sounds like an equity problem.

Innovation. Meanwhile,in the US, the whole system is teteering on the verge of collapse and leaders r not talking abt it. Classic case of misdirection.

it's a hard decision for china, but how does it influence our property market?

We are next.

Yeah,they are doing fine, some more lessons from the bankrupt Russia and they will really hit it!

You have a credit card debt looming in the USA, and that is not even secured. At least China has a solution, US?

😂😂

But if you live in a balloon you have to pay quicker.

That’s a great scam. Coming to the US soon, I’m sure.

CCP squid game 😩🤣

Really...

That is actually brilliant.

That's what happens when you get too big too soon.

Thou Shall zNot Kill by Willie J The Philosopher

Hahaha Xi's economic plans are really working.........and his friendship with Putin pays of........

Why the age matters as long as people can pay?

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elderly protest health insurance cuts in China's Wuhan | CNN BusinessA protest broke out in central China's Wuhan on Wednesday as elderly residents showed their discontent with a local government reform to public health insurance that came into effect earlier this month. You people will never post good news about China same way u will never post bad news about the news. Hypocrisy media outlets number one
Source: cnni - 🏆 326. / 59 Read more »

Dutch chip firm ASML says former China employee stole data | CNN BusinessASML, the Dutch chip equipment maker, has accused a former employee in China of stealing data related to its proprietary technology, in a case that highlights its importance in the global semiconductor supply chain as tension grows between the United States and China. Please MarinSanna FinGovernment Finland_Nigeria what are you doing about an International Terrorist simon_ekpa hiding in your country causing the deaths of hundreds and thousands of Nigerians in the Southeast including pregnant women and children? Are you letting him free? Fake news, chinese don't need to steal technology from other countries any more cuz they can handmake .85nm chips from now
Source: cnni - 🏆 326. / 59 Read more »

China sanctions Lockheed, Raytheon after vowing to retaliate against US restrictions | CNN BusinessChina has imposed sanctions on two American defense manufacturers over arms sales to Taiwan, a day after Beijing pledged to take 'countermeasures' in response to Washington's handling of a suspected Chinese surveillance balloon that entered US airspace late last month. oh no! Everyone is learning our 'sanction' tool and are beginning to use it against us. How dare they?😷🤣🤣 These companies shouldn't be selling to China anyways , 🤷🏽
Source: cnni - 🏆 326. / 59 Read more »