Carnegie ( I think ) said - " Sell when everybody is buying and buy when everybody is selling "
This ties in nicely with statement above to buy when rates are high and sell when they are low.
Two things puzzle me -
1. Affordability - how many people can pay these prices and service the mortgage when interest rates go up?
2. The statement made by some that because we are still below 97 values - or thereabouts - ten years later - the current prices can be considered good value. HKG is way more expensive than anywhere else on this planet just about.....so what is considered value? What the speculators tell you? Or what the average herd mentality HKGer thinks?
Last bubbles were - '86 , '97 and next one is...? Do the math.
Now the CX money situation - I hate to waste it on rent - but on the other hand I would rather do that and buy when the market is down and make a much quicker return with much less risk of negative equity than buy now and take 15 years to pay it off.
It's all as clear as mud to me...