'Ghost towns': Evergrande crisis shines a light on China's millions of empty homes

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'Ghost towns': Evergrande crisis shines a light on China's millions of empty homes
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Evergrande's unraveling is still commanding global attention, but its troubles are part of a much bigger problem.

Evergrande's unraveling is still commanding global attention, but its troubles are part of a much bigger problem.

For weeks, the ailing Chinese real estate conglomerate has made headlines as investors wait to see what will happen to its enormous mountain of debt. As the slow-moving crisis unfolds, analysts are pointing to a deeper underlying issue: China's property market is cooling off after years of oversupply.Chinese authorities finally weighed in on the Evergrande crisis on Friday.

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