Evergrande’s bankruptcy signals beginning of China’s real estate crisis: Experts

News Snapshot:

Evergrande Advertisement Advertisement Advertisement Country Garden Advertisement Beijing [China], August 19 (ANI): The filing for bankruptcy by, Chinese real estate giant signals the beginning of Beijing's real estate crisis, CNN reported on Friday.It serves as a cautionary tale about the "growth-at-all-costs" model that underpinned China's spectacular growth over the past 30 years.For decades, Evergrande, once one of China's most successful real estate developers, gobbled up debt as China's economy exploded. Demand for housing was so strong, homebuilders often pre-sold apartment units to buyers before construction was complete, CNN reported.But a sudden shift in policy by China's leaders two years ago...