Evergrande fail to pay their bondholders due to insolvency

The people are already housed, China has 90% outright house ownership (UK has about 30-40% btw) whats happening here is that its peoples second/third homes that they planned on handing off to either family or built for projected population growth that turns out has slown down a little.

They literally have too many houses. I know what issue id rather be having.

The topic is literally covered and explained like 3-4 minutes into the linked video.

oh the poor bondholders 😭

They gambled and they lost. Should the state bail them out for making bad investments? What are you, some kind of communist?