Another Chinese Property Developer Misses Interest Payment As Debt Crisi...

Another Chinese Property Developer Misses Interest Payment As Debt Crisis Deepens

The property market crisis in China is growing, as another property developer failed to make a payment on a bond. Modern Land followed Evergrande and Fantasia by missing a bond payment indicating that China’s property crisis is deepening.

On Tuesday, China's National Development and Reform Commission and the State Administration for Foreign Exchange met with foreign debt issuers, telling them to use funds for approved purposes and "jointly maintain their own reputations and the overall order of the market."

Earlier this month, Fantasia Holdings Group defaulted on a maturing dollar bond that heightened concerns in international debt markets,

Evergrande averted a costly default last week but is under more than $300 million in liabilities and has a major payment deadline on Friday. 

Shares of property developers extended losses, also hit by concern over China's plans to introduce a real estate tax.

There are reports coming out of China that its property market is in a steep decline as buyers are reluctant to put money down on off-plan new build projects due for completion in 5 years - and who can blame them?

Many of the high rise blocks are shabbily built buildings thrown up quickly and the cracks are beginning to show.

Property is effectively leased from the government and high-rise apartment blocks will most likely be demolished and rebuilt in 30-50 years.

Property makes up 25% of China’s GDP, so a market collapse will have a serious effect on the overall economy.

You might be wondering “what all this has to do with me” in the UK, US or Australia.

China’s economy matters to the rest of the world. We are already seeing a supply shortage of goods, which will not be helped by China’s own energy issues. A property crash in China will mean less demand for commodities and building materials and ultimately reduce spending on the luxury goods market.

Chinese developers also have hundreds overseas projects in other Asian countries, Australia, America and the UK. Liquidly problems back in China could affect some already overblown international markets.

Property buyers from China invest billions in London, Sydney, New York, Toronto and Manila where prices have reach record levels.

With inflation rising and interest rate due to be increased, there has never been a more important time to stay informed and never stop learning, especially if you want to invest in property.

Can you make money from property with no money down? Yes!

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Bitcoin Price Surges To $67,000 Following New ETF Launch

Bitcoin Price Surges After New ETF Launched

In today’s Money Tips Daily:

Bitcoin price soars to $67,000 in anticipation of more money going into Cryptocurrencies.

The FCA financial regulator being investigated itself over British Steel pension scandal!

Should you pull your pension fund out of

Sajid Javid warns of winter lockdowns in the UK, while Sunak wants to extend the multi-billion business support loan scheme.

Evergrande’s asset sales collapses leaving the indebted firm in more trouble.

Four main regulated investment areas within funds are:

1.      Stock Market

2.      Property

3.      Bonds

4.      Gold, Silver and Precious Metals

Taxes will increase to pay for lockdown and multi-billion green economic reset

Mortgage lending will become harder on ‘non-green’ or poorly insulated properties, as the government forces lenders to abide by its green agenda more akin to a socialist party.

Stock Markets could fall 10%, the Bank Of England has warned, and property prices could follow.

Financial markets and stocks and shares could see a “sharp downturn” with lower expectation of an early economic recovery from the lockdown the Bank of England predicted last week.

The QE money printing party, which have artificially fuelled property and stock markets to record highs, must eventually end.

How can you protect yourself and profit from a stock market or property crash when the bubble bursts?

Fortunes have always been lost and made during a stock and property market downturn.

Even if you do not directly invest in the stock market or property your pension fund manager may be doing so on your behalf. Check with your administrator or financial adviser.

The answer is to learn about investing and become more financially aware.

Financial education in investing is the key to building and keeping wealth. Never stop learning!

Keep watching or listening to my free podcasts on iTunes and subscribe to my YouTube channel for regular financial news and updates.

If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training.

I will give a special free gift which can help you to immediately transform your finances when you attend the online training.

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Stock Market Warning Issued By Bank of England - Correction Coming Soon

Stock Market Correction Warning By The Bank Of England

Financial markets and stocks and hares could see a “sharp downturn” if investors start to reconsider the prospects of economic recovery from the lockdown amid supply problems, rising prices and a spending squeeze, the Bank of England predicts.

The UK’s central bank's financial policy committee (FPC) warned of a “correction”, defined as a drop of at least 10% in the price of a share from its most recent peak. The bank has seen signs of increased risk-taking at investment banks – the people who get paid huge sums to play with other people’s money at the stock market casino!

Stock indexes around the world have hit record levels this year, from a crash in 2020, as investors bet on a strong economic bounce back from the pandemic.

However, worrying levels of inflation have returned to the UK, US and Germany sparking fears that growth could be stunted in the face of supply chain bottlenecks, soaring wholesale natural gas prices and skills shortages.

In the UK, millions of households and businesses are facing a long winter of discontent from a cut in benefits and state support combined with a surge in energy prices not seen since the 1970’s Arab oil crisis which sent economies across the globe into recession.

The Bank is also concerned that higher borrowing during the public health emergency has likely put more businesses at risk.

It said: "The increase in debt - though moderate in aggregate - has likely led to increases in the number and scale of more vulnerable businesses.

"As the economy recovers and government support, including restrictions on winding up orders, falls away, business insolvencies are expected to increase from historically low levels."

Around 1.7 million companies borrowed money under emergency loan schemes, like the bounce back loans, that were launched last year.

Many of them were very small companies without high debt, but desperately needed of cash to avoid immediate collapse. Source Sky News.

China’s debt and real estate bubble has not gone away, with Evergrande and Fantasia expected to default on more upcoming debt repayments.

How can you protect yourself and profit from a stock market or property crash?

Even if you do not directly invest in the stock market or property your pension fund manger may be doing so on your behalf.

If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training.

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High Street Retail Is Dead, Long Live The High Street!

Is High Street Retail Really Dead?

With everyone talking about the end of physical shopping, Amazon is opening shops!

Morrisons supermarket UK chain is going through £7 billion takeover.

Costo is booming, Aldi and Lidl are expanding in the UK and workers are going back to offices.

Which is Britain’s cheapest supermarket?

Many stores have suffered in the last year with famous names like Debenhams and Gap disappearing from our towns, but basics like food and other necessities seems to be thriving.

Asia’s richest man, Mukesh Ambani (worth $99 billion) is bringing 7-Eleven stores to India, one of the fastest growing economies in the world.

Online retailing and home delivery are still increasing, but there is still room for physical stores.

I would not recommend a start-up business owner to immediately open a shop.

Did you know that 96% of new businesses fail?

The world’s economies are still choppy waters. Stock markets and property prices around the world remain at an all-time high fuelled by governments printing trillions to prop up weakened economies.

Yesterday I reported that a second Chinese property giant had defaulted on interest payments following the Evergrande scandal.

Investors are still piling into high priced stocks and properties like the party’s never going to end! Remind you of anything?

If you not worried because you don’t invest in stocks and shares or property, look at your pension fund.

There has never been a better time to stay informed and educate yourself on financial matters.

The KEY to building and KEEPING wealth is financial education.

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Fantasia, Another Chinese Property Company, Defaults On Interest Payment...

Fantasia, Another Chinese Property Company, Defaults On Interest Payment To Bondholders

As a second property giant fails to pay debt interest investors fear a property collapse in China’s real estate bubble.

On Monday, a Chinese developer of luxury apartments Fantasia missed a $315 million payments to lenders, sparking fears that financial strains in the country's overheated property sector are spreading beyond the troubled Evergrande’s troubles.

The FT reports that Beijing’s crackdown on borrowing by property developers threatens to end China’s love affair with London property.

The latest Chinese debt-ridden property company is Fantasia Holdings, a Shenzhen-based developer which missed repaying $206 million worth of bonds that matured Monday. In a statement to the HK stock exchange, the company said it is assessing "the potential impact on the financial condition and cash position of the group,". Trading in shares, down by 80% this year, were suspended.

The property management unit of Country Garden, China's second largest developer by sales after Evergrande, reported that Fantasia had failed to repay a company loan of about 700 million yuan ($109 million). Fantasia had informed the company that it would probably "default on [its] external debts," to Country Garden Services, according to CNN.

Other Business News

Johnson Promises Wage Boost.

In a speech to the Conservative Party Conference in Manchester, Prime Minister Boris Johnson wants to end the UK’s “low wage economy” fuelled by “uncontrolled immigration”.

Gas Prices Fall After Putin Boosts Production.

UK wholesale gas prices dropped after hitting a record high after Russia announced a boost in supplies to Europe. Russia President Vladimir Putin calmed the market after gas prices had risen by 37% in 24 hours to trade at 400p per therm on Wednesday. The price fall will be welcome news to millions of British consumers facing record energy prices this winter.

Consumer Price Rise Highest In 25 Years.

Inflation fears as prices rise across the world, sparking fears of hyper-inflation caused by unprecedented money printing. Markets are predicting 6% inflation leading to ‘stagflation’.

Facebook Restores Service After This Week’s Outage.

How did the social media downtime affect you?

How much time do you spend on social media?

Some people admit to more than 10 hours a day screentime, which you can check on most smartphones.

If you are just using social media for entertainment, could you use your time more effectively?

Can you make money on social media?

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Property Update – Investors Pouring Millions Into UK Real Estate

Property Update – Investors Still Pouring Millions Into UK Real Estate

Highlights:

·        Investors, including overseas buyers, buoyant on UK property

·        House price growth has slowed slightly after stamp duty holiday finally ends

·        Evergrande misses another interest payment as China property bubble crisis continues

·        Furlough scheme financial and job retention support is over for 1 million British workers

·        Millions in Europe facing higher energy costs as natural gas and oil prices continue rising

·        Stock markets down on September high, however Gold, Silver and Bitcoin prices higher

The key to any investing is education or knowledge, something you were not taught in school!

Would you like to learn more about property investing and earning extra cash from property using none of your own money?

Free Property Networking Event Sunday 3 October

Live Online Property Networking Meeting Sunday 3 October 7PM - Click here to register: https://bit.ly/3zvaBHR

Master your property investor networking skills as the world moves back to normal! Discover how to create and develop relationships in the property world and maximise your portfolio.

In today’s marketplace, businesses that are operating in the same industry are classed as competitors. But in the world of property, it is the complete opposite.

Fellow property investors are your allies, your motivators, potential JV partners, private funders and more importantly, your reliable support network.

Join great speakers and property investors online at 7:00PM on Sunday 3rd October 2021

Click here to register: https://bit.ly/3zvaBHR

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Risks Of Buying Property Off-Plan, People’s Bank Of China Announcement o...

Risks Of Buying Property Off-Plan, People’s Bank Of China Announcement on Evergrande Crisis

The Chinese government has calmed fears that Evergrande could be allowed to fail and risk world economic recovery.

On Monday, without actually mentioning Evergrande, China's central bank promised to protect consumers exposed to the housing market.

The announcement by the People's Bank of China has been seen as a sign that authorities are ready to take steps to prevent the potential catastrophe of Evergrande’s crisis spreading to other parts of the economy.

Evergrande has debts of around $300 billion to national and international creditor including bondholders and 171 domestic banks plus 121 other financial firms. There are also over a million customers who have paid for properties yet to be built and thousands of supplies and staff.

If the company is allowed to fail it could bring down banks and cause a credit crunch squeeze on lending similar to the 2008 global financial crisis.

China’s economy matters to the rest of the world, as it drives demand and spending. For instance, a slowdown in construction alone would hit Australia’s exports of Iron Ore, which represents a large part of it’s currently locked down economy.

This week, Goldman Sachs became the latest bank to downgrade China’s growth forecast from 8.2% to 7.8%.

Chinese buyers have also been scooping up overseas property everywhere from London to Manila, Sydney, Auckland and Toronto where prices have hit all-time highs this year.

Much of China’s massive growth appears to have been funded by huge amounts of debt, something which the government has attempted to reign in recently. This has forced property companies to tighten their belts and the first problem to come to light is the biggest of them all Evergrande.

The conglomerate has 1300 projects in 300 cities spread across the country. Desperate property buyers have been demonstrating outside Evergrande’s offices. Many have invested their life savings and now fear they many never see their money, or the apartment they bought ‘off-plan,’ again.

Buying property off-plan can be risky. Whilst you might think you are getting a ‘below market value’ deal, you are taking the developers word that the finished property, usually a high-rise apartment, will be worth more than you have paid for it several years down the line.

You are also relying on the builder’s ability to finish the project, as well as quality and ongoing management.

Developers normally retain control of the freehold and management of the building and will enjoy residual income from often unfair management charges for the lifetime of your lease.

Buying off-plan properties abroad is especially risky in countries where you don’t understand local laws and taxes.

People often fail to use a lawyer when buying and overseas property, something they would never do at home!

The key to any investing is education or knowledge, something you were not taught in school!

Would you like to learn more about property investing and earning extra cash from property using none of your own money?

Join A Free Property Event

Live Online Property Networking Meeting Sunday 3 October 7PM - Click here to register: https://bit.ly/3zvaBHR

Master your property investor networking skills as the world moves back to normal! Discover how to create and develop relationships in the property world and maximise your portfolio.

In today’s marketplace, businesses that are operating in the same industry are classed as competitors. But in the world of property, it is the complete opposite.

Fellow property investors are your allies, your motivators, potential JV partners, private funders and more importantly, your reliable support network.

Join great speakers and property investors online at 7:00PM on Sunday 3rd October 2021

Click here to register: https://bit.ly/3zvaBHR