Originally Posted by
Avinthenews
Flew with a HK local the other day who said he's mortgaging his parents house to buy his first property.
Doesn't that sound nice and safe.. Put ALL your eggs into one basket then add ALL your parents eggs into the same basket just to buy a 600 sq/ft shoe box with a 30 year mortgage.
And what exactly happens say when he gets sick for a year with no income or say if the property market corrects 50% in the wrong direction.. Same thing happened with the fuel hedging nerds.. This is where peoples lives get ruined.