Fake reconstruction, pigs gifted: China’s desperate effort to save property sector fails

China’s property crisis is reaching a point where there’s no turning back. For the past 12 months, the country’s monthly home prices have kept falling. Developers have defaulted one after another, leaving countless projects unfinished. Homebuyers are now protesting and refusing to pay their mortgage, which is deemed a danger to social stability in the eyes of the Chinese Communist Party (CCP). To save the real estate market, the CCP stepped in with waves of stimulus support for developers and homebuyers.