NEW DELHI: A growing number of homebuyers in China have stopped making mortgage payments for properties, adding to the woes of the country's already troubled real estate sector.
The situation is grim and is now impacting firms that were once deemed safe from cash crunch, including Country Garden Holdings, China's largest builder by sales.
Property sales plunged for the 10th straight month in June, underscoring how government relief efforts are failing to curb the crisis.
