i think it is dangerous to be too convinced of anything, need to remind myself occasionally, and when not reminded, simply re-learn lessons that ought to have been already coded into the chromo lattice
preamble thus done, i do not own my home, my wife does, it makes her happy and keeps her quiet, and so that should my foolishness in business ever zero-state resets me, gold trading be outlawed, and/or platinum strategically confiscated or tactically borrowed by officialdoms, i should still have roof over head.
bought the place at asian financial crisis low, 54% below comparable transaction price before onset of crisis, figure i would rather stare out at the ocean while progressing through a financial crisis.
the peculiarities of hk mortgage mkt is such that all mortgages are theoretically callable, but definitely monthly adjustable, meaning any and all insane rate increases instigated by officialdom to, say, defend the usd/hkd currency hard peg could double/triple the next month's mortgage payment.
if ever fixed rate mortgage become available, i would reconsider mortgage.
the hk rental market is unfriendly to renters, and therefore makes wives of renters unhappy, and the rental ask-price goes up and down seemingly tagged to the jollies on the stock market, meaning should one's contract come due during stock market euphoria, one is out of luck and peace and pocket all at the same time.
so, whereas i do believe main residence is not savings, but consumption, i also hold that it is not an asset to be lightly shorted, because should the trade go wrong, one is not only answerable to the market gods, but also to one's spouse - just imagine, day and night, night after day after night, the resulting argument starter and closer, as in "i told you not to ... and you did ... and now our kid ... "
do you see what i mean :0) |
