Evergrande default causes housing market crisis in China

China's Evergrande default has caused a housing market crisis, affecting other developers and leaving many families worried about their wealth. The company's financial decline has led to little hope for investors. Hundreds of thousands of buyers are still owed homes, workers remain unpaid, and creditors are in dispute. A Hong Kong court is expected to make a final decision on the debt settlement, with a small chance of Evergrande presenting a new restructuring deal.