China Evergrande stands to win a price war, writes ywchen1:
Real estate developer China Evergrande on Sept. 6 announced internally a nationwide discount of about 30% on all its properties until the end of the week-long holidays in early October, a period that is traditionally China’s peak home buying season, Reuters reported on Sept. 10.
In early September, Beijing circulated so-called “red-line” policies to reduce leverage in the real estate market, according to people familiar with the matter. One would force developers to have enough cash to cover short-term debt. Another would require their debt-to-asset ratios, excluding advance payments, to remain below 70%.
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