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Surging interest rates and regulatory scrutiny are causing distress for builders and creditors in Asian economies from South Korea to Vietnam, highlighting the breadth of housing woes in a region overshadowed by China’s crisis.
While aggressive monetary tightening and the pandemic have had a more pronounced impact on commercial property in the US and Europe, it’s residential housing that is under more strain in Asia. One of the worst hit nations, Korea, saw the steepest home price slump in 25 years while a construction firm’s repayment…