Li Wen Pays Loan Early
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Deposit ratesSouth China Morning Post
•China's homeowners are rushing to pay off mortgages early as outlook on the economy dims
88% Informative
China 's property market has been in the doldrums since August 2020 , when the government put in place a policy dubbed "the three red lines", aimed at curbing a borrowing binge by property developers.
Some homeowners, suffering from heavy loan burdens and an uncertain economic outlook, sold their homes.
Others, like Li , saved up and took advantage of interest rate cuts to pay down mortgages or home loans.
Prices of new homes in China declined by the most in nine years last month , sinking 5.7 per cent from a year ago .
Contract sales generated by the top 100 Chinese developers plunged 10 per cent in August from a month earlier .
Buyers also remain cautious about plunging home prices.
VR Score
93
Informative language
96
Neutral language
51
Article tone
formal
Language
English
Language complexity
43
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
5
Source diversity
4
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