China’s No-Money-Down Housing Echoes U.S. Subprime Lending Risks
By Bloomberg News Jun 13, 2014
China’s home buyers are being offered no-money-down purchases in an echo of the subprime lending that triggered a U.S. economic meltdown and the global financial crisis.
The final buyers at the peak of a bubble are the most marginal borrowers and the most highly leveraged. Just before the house-of-cards comes crashing down...
