Part 6/9:
The Impacts of the Mortgage Crisis
The roots of these protests dig deep into China's multifaceted mortgage crisis. Many citizens had invested their savings in real estate—one of the few avenues available for wealth growth—leading to an inflated market saturated with unsold properties. The collapse of developers like Evergrande, who engaged in questionable business practices akin to a pyramid scheme, left many homeowners in despair as they watched their investments dwindle away.