Evergrande Defaulted on its Debt – Will That Mean Troubles for the US Economy?

Shanghai at dusk, Huangpu river and financial district skyline in sunset

For the Chinese economy, the hit from the Evergrande failure will shake the system badly. As evidenced by the government stepping in to shore up the company’s day-to-day operations in China.

Peter Cohan, a lecturer at Babson College and author of “Goliath Strikes Back,” told GOBankingRates that Evergrande’s default will have no significant effect on the U.S. economy since it has only $20 billion in U.S. dollar bonds outstanding. Nevertheless, we think this is a moment to knock on wood.

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The size of the bond market is estimated to be at $119 trillion worldwide and $46 trillion for the U.S. market — the Evergrande bonds are 0.04% of the U.S. total,” Cohan said. “Investors in those bonds will suffer losses. The risk of Evergrande’s default has been high for a long time. Those who invested in the bonds should be well-prepared for what is happening now. Even if those investors end up losing everything, the systemic impact will be tiny.” See the source article here.

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Uncertain Fallout from Chinese real estate failure. We can at least count on the smog.

Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.

December 2020 Downtown Real Estate Market Report

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Los Angeles Urban Real Estate Down Every Month of 2020 #realestate #market

December provided no exception to a year with a down property market every month. The number of listings fell, homes took longer to sell, the median home price fell and the total volume is down as compared to the same month of the previous year. | Blog Video

Number of listings down 8%. Average of 89 days on market (taking 26% longer to sell). Median price down 12.6%. Total volume down 11%. Based on MLS statistics for Downtown Los Angeles neighborhoods areas 23,42 and 1375.

Based on the most recent numbers (along with 10 years of forecasting accuracy by the Loft Blog), 2021 shall continue the trajectory set in 2020. Big cities shall continue to bear the brunt of declining home values, but more suburban homes shall begin slowing in price momentum. Now, more than ever before, wage earners and the middle class must take action to protect their income, assets and financial future by taking advantage of down markets and changing trends. Below are some of the top ways to safeguard finances by implementing new strategies that are in tune with our rapidly changing economy.

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking
Bitcoin rises above $29,000

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449, MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.