China Faces a Crisis in Its Real Estate Sector August 20, 2023 +4 as the fallout from debt-laden developers and sinking sales spreads to the broader economy. Beijing wanted to cool its housing market but created a bigger problem NYT NYT > Business NYTimes as the fallout from debt-laden developers and sinking sales spreads to the broader economy. Beijing wanted to cool its housing market but created a bigger problem NYT NYT > Business NYTimes