[Post 177] The Great Fall Of China's Housing Market: Who Will Pay The Price? | Insight | China Mortgage Boycott

Summary

In July, thousands of Chinese homebuyers threatened to boycott mortgage payments. Since the Evergrande Crisis, other cash-strapped developers have halted construction, leaving millions in limbo.

Over speculation left Chinese property market in jeopardy. Meanwhile, desperate homebuyers have moved into their unfinished apartments, making do without electricity and water. With echoes of the 2008 US subprime mortgage financial crisis, people around the world are closely watching how this crisis in China will unfold.

What is behind China's mortgage crisis?

[Post 176] China Millennials’ Mortgage Boycott: Why The Property Crisis Should Worry You | CNA

Summary

In 2022, Chinese millennial homebuyers took to the streets and social media to wage a boycott on mortgage payments, as their homes stood unfinished with financially-distressed developers unable to complete them.

Real estate and its related industries make up a hefty one-third of China’s economy. So, as #CNAInsight’s Wei Du explains, any property crisis would ripple out into the world - with reduced imports of steel and timber from countries like Australia and Indonesia, for instance. 

At the same time, the government’s moves to temper property prices have led to a decline in home values. It could mean that affluent citizens feeling the pinch would pull back on luxury spending and travel - a blow for countries counting on Chinese tourism.

[Post 175] Woman in Tokyo lives off power grid by generating own electricity | CNA

Summary

As the world grapples with the rising cost of power, one woman in Japan is unfazed by the global energy crisis. 62-year-old Chikako Fujii lives completely off the grid by generating her own electricity with four solar panels installed on the balcony of her apartment. They produce enough to power her few electrical appliances and light up her house at night. On a hot day, she just leaves whatever food she wants to cook in pots on her balcony for a few hours.

[Post 174] Ninja Van: He quit banking to build Southeast Asia’s next big thing | Make It International

Summary

Chang Wen Lai’s express delivery service, Ninja Van, is tipped to be one of Southeast Asia’s next $1 billion unicorns. CNBC Make It’s Karen Gilchrist met the 32-year-old CEO in Singapore to hear about his bold bet to go from trading floor to entrepreneur.  

[Post 173] Why is Singapore so rich? | CNBC Explains

Summary

Singapore is a tiny country, but it's managed to become an Asian economic hub. CNBC's Xin En Lee explains how the country went from third world to first world.

[Post 172] How I Retired Early At 49 With $1.3 Million In Ohio | CNBC Make IT

Summary

Jackie Cummings Koski lives in southwestern Ohio and achieved FIRE at 49 years old with $1.3 million. Koski worked at LexisNexis for 20 years earning an $80,000 salary, and reached $1,000,000 in net worth when she was 46. As a single Black mother, Koski says she tried to fight the wealth gap narrative at every turn because she knew no one could help her if she failed. She represents a population rarely thought of when it comes to financial independence and was thrilled to retire early in 2019.

[Post 171] I Make $100K Walking Your Dog In NYC | On The Job

Summary

Ryan Stewart is dog walker who makes $100,000 a year in NYC. He works around 6 hours a day, 6 days a week. After working with dogs for over 20 years, Ryan believes that he has become a member of a dog pack.