stockstrader, I normally don’t extend this advice to you. BUT, I remember reading you said your wife bought property in china.
I told her a year and a half ago we gotta sell the damn thing. It is in her name (because that’s the only way I could get the 20% down mortgage from the Bank of China.)
No question the China real estate market decline is now going countrywide and just getting started. This is troubling me every day.
The ONLY thing in favor of keeping that China home is the coming dollar collapse working with the 5:1 leverage of the loan.
In other words, at the same time the value of my China house is falling in nominal RMB, the dollar will probably start collapsing against the RMB. (The dollar has already fallen 17% against the RMB since we bought that home.)
That home is now worth in USD about $350K, where over half is equity. We bought it for $120K, using only $40K of our money (portion of which was used for remodeling) It is a big home: 212 sq m^2
So that house is a nice way to leverage up my dollars (in RMB) to take advantage of accelerating decline in dollar relative to the RMB.
HOPEFULLY, that will hedge against the same time decline in real value of the home measured in RMB, as the Chinese real estate market falls.
It also keeps our marriage strong! Better treat my wife right, or else house and wife go bye bye!
