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IMF Director Krishna Srinivasan Says China Must Fix Housing Market

Krishna Srinivasan, a director at the International Monetary Fund, an organization that helps global economies, says fixing the housing market is the main key to getting people to spend again. He notes that there has been a massive drop in the value of people's assets like homes.

Srinivasan warned, "until you fix that, confidence won't come back in a durable way." It is hard to go shopping when your home feels a little lighter every day.

More in MortgagesBank of America projects 2027 mortgage volume at $1.72 trillion
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