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China property crisis: Why homeowners stopped paying their mortgages

“Construction stops, mortgage stops. Deliver homes and get repaid!”

That was one of the chants disgruntled apartment buyers in China used at a protest in June. But their ire over unfinished homes didn’t stop at signs and chants.

Hundreds of them stopped paying their mortgages – a radical step for China, where dissent is not tolerated.

A young couple who moved to Zhengzhou in central China told the BBC that after receiving the down payment last year, the developer withdrew from the project and construction stalled.

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