I agree with Apple. We are witnessing a once in a life time economic melt down.
If you have a mortgage which is based on the LIBOR, you are about to get a 70% increase in your interest rate. The HKD LIBOR rate has gone from 3.5% to 5.5% and climbing. That will put huge pressure on repayments and cash flow for other things that you might spend your money on.
Volare call me a drama queen if you like , I can tell you that 1997 was small with regards to this one...I really hope that I'm just a drama queen, but for the first time I scared, as everything up to now I could reason and work around , this time not even economic common sense is helping.
The only reason that the property has not gone down as much is because the market has gone down so quickly that the housing sector is laging way behind.