House price is soaring, but finance advisor telling me to debt maxxing on house loan 90% loan and 0~10% dp, and its fine.
This is all wrong here.
House prices are not soaring, it is exactly the opposite. Interest rates are high , less people can afford a loan because it is expensive now. So less people buy houses , less demand = lower price.
Anyone should be careful about making debts now as interest rates are rising all over the world.
Real estate is a powerful liability for most people. When the economic crisis comes, real estate is like a soap bubble. The moment it bursts, it is another beautiful rainbow. But it's what people need, so it's a vicious circle in the end.