by nyx p.

Asia's Richest Woman Lost Half Her Wealth in China's Real Estate Crash.

Yang Huiyan, Asia's wealthiest woman, saw her fortune reduced by more than half this year.

about $24 billion to $11 billion

YANG owns Country Garden Holdings, China's top real estate developer.

This year, Country Garden's stock has lost more than half of its value.

As THE COUNTRY'S REAL ESTATE SECTOR BATTLES DROPPING HOME PRICES AND ETC.,

HOW DID THE REAL ESTATE CRISIS ESCALATE

?

China's most indebted property business,

In December of the previous year

It has defaulted on its US Dollar Bonds after MONTHS OF LIQUIDITY CONCERNS.

Homeowners who were dissatisfied threatened to cease paying MORTGAGE PAYMENTS IF CONSTRUCTION WAS NOT COMPLETED ON TIME,

IN ADDITION,

escalating the real estate crisis.