Fraudulent use of PPP loans drives skyrocketing housing prices

May 29, 2026, 2:00 AM10

(Update: May 29, 2026, 2:00 AM)

United Development Party

political party in Indonesia, known as PPP

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Fraudulent use of PPP loans drives skyrocketing housing prices

The Paycheck Protection Program distributed about $800 billion in loans in response to the pandemic from 2020 to 2021.
Researchers found that fraudulent activities related to these loans significantly influenced housing market prices.
Fraudulent loan recipients contributed to inflated housing prices and consumer spending on luxury goods.

United Development Party

political party in Indonesia, known as PPP

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