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What was once a river of money has turned into a trickle as the Evergrande-triggered property crisis has spooked buyers, with a mortgage uprising – sparked in June by buyers of the unfinished Evergrande project – exacerbating already crushing pressure on developers. Mortgages refused to service bank loans they took to buy their apartments and the protest movement that began with the Evergrande development has now spread to about 320 projects across China and led to central authorities setting up $64 billion to help developers complete their unfinished projects. However, if Xi Jinping wants a smooth path to an unprecedented extension of the Communist Party’s leadership for a third term, Beijing may have to engage more directly and aggressively in the crisis. Credit: AP Worryingly for Chinese authorities and banks, unpaid suppliers for the Evergrande project are also starting their own payment strikes which, if they spread as lenders’ actions have spread, would amplify the financial and

Mom is baffled by a strange object found on her rental property – so do YOU ​​know what it is? A woman seeks advice online after finding a strange object on her rental property Ruth shared a picture of two house-shaped objects stuck to the wall At first, many thought the product was a broom, mop, or dog tin holder But others say the unusual item is a keychain missing some parts By Carina Static For Australian Daily Mail Published: 01:53 EDT, 31 July 2022 | Updated: 03:52 EDT, 31 July 2022 A woman was left scratching her head after finding two house-shaped objects stuck to the wall in her new rent. Seeking advice Ruth shared a series of pictures to a popular Australian Facebook group – but others were just as confused. ‘I just moved into a new house. The previous owners were VERY organized (much more so than me!) They had a place and systems and corners for everything,’ he wrote. ‘We can’t figure out what some of the t

Sarah Keating is in a race to find a rental property before her two-year-old son grows out of bed. Key points: Rental prices in several of Melbourne’s outer southeast suburbs have seen strong growth in the past year A real estate agent says landlords are raising rents because of concerns about rising interest rates Proponents fear vulnerable people will be increasingly locked out of the rental market The 21-year-old single mother currently lives with relatives in the southeast outside Melbourne. He shared a room with Ryder’s son, but soon the two of them wouldn’t fit. “I’m trying to find a bigger place to start our life and our family’s life so he has his own room, I have his own room,” he said. “I just can’t find it anywhere. “My son can’t sleep in my bed every night with me. He needs his own bed.” Ms Keating said she had been looking for a two-bedroom place in Melbourne’s outer southeast – suburbs such as Dandenong, Pakenham, Officer, Beaconsfield, Noble Park and Clyde – for about si

Among those developers are China Evergrande, the world’s most indebted property developer, with about US$300 billion ($430 billion) in liabilities, and the company that defaulted on its foreign bonds last year bringing home the scale of the crisis in China’s property sector. Its suppliers want to be held accountable for their loans, which may be problematic given that the group has not yet developed a workable restructuring plan and risks being declared default on its domestic bonds by domestic investors who have, until now, been prepared to extend the grace period. Evergrande has until the end of this month to work out its plans and prevent what would become a landmark default in China. Borrowers for incomplete apartment developments in China refuse to pay their debts, exacerbating the existing crisis in China’s vital property sector. Credit: Bloomberg Its ability to meet that deadline was complicated by the forced resignations of its chief executive and chief financial officer last w

Located a few hours’ drive from Brisbane’s bustling lights, the Southern Downs entice city dwellers with deep pockets looking for a lifestyle change. Key points: Wealthy city dwellers move to the Southern Downs in search of a lifestyle change Proximity to Brisbane and Gold Coast appeals to shoppers Retirees and investors are also taking advantage of the rural lifestyle and lower prices Adrian Dundas and his wife, Nancy, left their life on the Gold Coast and moved inland, pursuing the steady rhythm of regional life. Now calling Warwick home, Mr Dundas said it was the perfect location. “We’re always looking for places to move and/or invest and this is the gem here,” he said. “The environment, the geographical position, how friendly the people are, and how generous they are. The cost of living is also much better here. “It’s a beautiful place, a beautiful place to live.” The vacancy rate in the Southern Downs is 0.1 percent — one of the lowest in Queensland. ( Provided: Adrian Dundas ) T

Following his divorce from Jennifer Garner, Affleck purchased this $US19.2 million beauty in an LA neighborhood close to the family’s former home where Garner and their children continue to live. Ben Affleck’s LA house, which he bought after divorcing Jennifer Garner. Credit: Redfin.com The house has several bedrooms, an entertainment room, a gym and a lawn beyond the glass sliding doors of the lounge, with a fireplace. He reportedly moved in after spending some time in the guesthouse on the estate he and Garner once shared, and bought together in 2009. What Jen has…. A penthouse in Madison Square Park This home is the crowning glory of the four-address super-exclusive apartment block, built in 1924, in New York City. Jennifer Lopez owns this four-bedroom penthouse in New York. Credit: realtor.com Lopez bought The Whitman penthouse for $20 million following her divorce from actor and singer Marc Anthony, with whom they have two children, Emme and Max. Lopez is trying to sell a slick pa

Rio appears to be doing a pretty good job of controlling those costs, and there are new opportunities in terms of improving operational efficiency, including the first ore from the vital new Gudai-Darri mine. But it’s hard to shake off concerns that Australia’s big iron ore miners are facing worrying pressure, with falling demand and rising costs conspiring to stifle profitability. That’s important for investors – Rio’s shares fell 2.6 percent on Friday, picking up losses since their recent peak last month to 21 percent, while BHP fell 24 percent over the same period – but also for Australia’s state and federal governments, for which royalties and strong iron ore taxes have been a boon over the last few years. The supply side is not an issue here, given that large iron ore miners have strong cost discipline and keep volumes under control. But the demand picture is deteriorating as China’s economy continues to suffer. China’s economy is treading water One of Australia’s most senior iro

When the housing market is booming in WA, there’s nothing quite like haggling. Fortunately, while Perth’s median home price hovers at $527,000, there is still area for the savvy home hunter to find on the property ladder. Some suburbs even have an average home price of less than $300,000, giving buyers willing to venture outside around the CBD. Your local newspaper, whenever you want. Here are the Perth suburbs with the lowest median house prices for the 2021-22 financial year. Armadale Armadale has cemented its status as a bargain hunter’s paradise, as the cheapest suburb to buy a home in Perth. Residents face a 37km journey down the Kwinana Freeway from the Perth CBD but they can also enjoy an average home price of just $289,000. Last financial year, 378 people bought suburban homes, mainly first-time homebuyers and investors. Medina Another southern suburb, Medina is one of only two areas in Perth where buyers can still buy a home for an average of less than $300,000. Last financial

A deadly virus from bats strikes Australia for the first time in five years as authorities struggle to contain the outbreak Hendra virus has not been contracted by horses since 2017 in Queensland The deadly virus spreads from fruit bats to horses, and can be fatal to humans A horse in Mackay is brought down after the Hendra virus weakens the animal QLD biosecurity worker ensures the case is kept on the property By Max Aldred For The Australian Daily Surat Published: 02:11 AM EDT, 9 July 2022 | Updated: 02:24 EDT, 9 July 2022 A deadly virus capable of spreading to humans infected a horse for the first time in five years on a Queensland property. The Hendra virus case, detected Friday in Mackay, is the first confirmed case of infection in horses in the state since 2017. Hendra is commonly found among fruit bat populations. The virus has killed more than half of the people who contracted the infection, most of whom were v