The great Chinese mortgage strike: Thousands of homebuyers are refusing to pay their home loans as growing boycotts spread online

Developers are dragging on projects, so homebuyers (who, in China, are typically required to purchase before the units are fully built) aren't paying. A huge decrease in home prices isn't helping either. This illustrates an example of how these global factors that are affecting housing markets in every geography can collapse if incentives fail and nobody steps in to realign them.