房子里的钱为什么一定要睡觉？
A $1M home with $700,000 of equity: is that just wealth, or also capital capacity?
Wallace Wang · Updated 2026-09-14
This chapter is an outline for now. The book is written in public: the full text, stories and cases will be added to this page, at this same address.
Here I cover mortgages, home equity, HELOCs, refinancing and the Smith Manoeuvre. I don't teach the mechanics step by step; I ask whether $700,000 of equity inside a $1,000,000 home is only wealth, or also latent capital capacity. Owning an asset is not the same as deploying it well.
I am equally clear that borrowing against a principal residence puts the home itself behind the risk.
这一章我会讲到这些概念：
我不打算教具体操作，而是想问你：
一套价值 100 万的房子里有 70 万净值，这 70 万究竟只是“财富”，还是一种潜在的资本能力？
我想再强调一次：拥有资产 ≠ 有效配置资产。
同时我必须讲清楚：以自住房做抵押，意味着风险最终落在你的家上。
Borrowing to invest involves risk, including the risk that the value of your investment falls while the loan remains payable in full. This page describes how these arrangements work in general and is not a recommendation to borrow or an offer of credit. Suitability depends on individual circumstances. This page summarises publicly available Canada Revenue Agency material and general mechanics. It is not tax advice, and deductibility depends on individual circumstances and current legislation. Wallace Wang Financial Services does not prepare tax returns or provide tax opinions.