It is important not to consume blindly
More precisely, don’t casually take on long-term, large mortgage debt. Take Alibaba employees as an example: when things looked great, they bought property, loaded up on mortgage debt, then suddenly got laid off—it’s brutal. A long-term mortgage is a black hole that crushes a family’s future development opportunities because it constantly devours your wealth and prevents you from participating in other wealth-building games.
The games ahead may well be capital games with monetary thresholds. Spending your capital now is like tearing up your ticket to future participation. People have been saying housing prices would fall for years, and May–June this year offers a decent window to pick up bargains. Only those holding cash can seize the opportunity to buy quality assets. I wonder how many people actually listened? Sigh…
The “Big Factory” Backed by Alibaba Collapses
A Cautionary Tale of the Middle Class’s Decline
