Showster Twincharged May 16, 2016 Share May 16, 2016 (edited) Our public debts are backed fully by our public assets (reserves). No issue at all. What MAS is concerned over is private debt which is high indeed as a % of GDP. My sensing is currently people overall may not mind borrowing more but there is a limit to how much as a whole people can be allowed to borrow. That's why we praise the CMs. We are listed as one of the highest public debt country in the world. There is a danger of trigger down effects on our currency in longer term. Hence, this may affect property value and increase of repayment of interest. So far rating agencies still put us with high hopes. To me, it is something to concern about for longer term. Public debt as percentage of GDP: 97.77% http://www.msn.com/en-sg/money/finance/the-20-countries-with-the-most-public-debt/ss-BBsYuLl?ocid=mailsignoutmd#image=2 Edited May 16, 2016 by Showster ↡ Advertisement 3 Link to post Share on other sites More sharing options...
tenyawph Turbocharged May 16, 2016 Share May 16, 2016 10,000,000 .... huat ah! highlighted town for T2 ... CCK ... no $1M no sell ... Don't have to worry too much for the next 20 years, in terms of land scarcity. Singapore has plenty of land in the short-term. Paya Lebar Airbase will be relocated from 2030 onwards, freeing up a land space which is equal to Toa Payoh and Bishan combined. i.e. accommodate over 100,000 housing units. The container facilities in Tanjong Pagar, together with Keppel and Brani, will be relocated to Tuas by 2027, freeing up more land, which is equal to 2.5 times the size of Marina Bay (i.e. accommodate over 90,000 housing units). http://www.straitstimes.com/singapore/ndr-2013-paya-lebar-airbase-to-be-moved-to-changi-area-freed-up-for-homes-and-industry The 6.9M population white paper, talks about having 6.9M by 2030. This is not an ultimate goal, but an interim one. Singapore will press ahead to reach 10M population within 50 years. What is scarier, is how we have to plan for our future, for the next 50 years. When the white paper was released in 2013, there was an uproar from Singaporeans. This was expected, as our infrastructure, especially the MRT and public transport, public and private housing, was clearly straining from the surge in the number of residents in Singapore caused by the influx of foreigners in the last decade. But because of this influx of foreigners into our country, Singapore was able to grow economically in the 2000s and 2010s, never mind that labour productivity was languishing in the low digits. We are increasing GDP output by adding more labour (no brainer). As our local population ages rapidly and less young people becomes available for work, this means that more working adults will have to support the retired and aged, in order to maintain the GDP's growth. This becomes a vicious cycle, as more foreigners are needed to cover the shortfall due to our local labour shortage. So fast forward to 50 years later, when our population hits 10M. Where are the extra 4M going to stay? The Singapore government has a good answer for this problem, although our government cannot make it obvious to us yet. Iskandar, Johor (bigger than the size of Singapore), will be our next residential area for the majority of the extra 4M population in the future. Imagine this: Iskandar will be to Singapore what Kowloon and New Territories are to Hong Kong main Island now. At this moment, Iskandar is facing an indigestion of having too many properties being built, and property prices there are being depressed for now. PS: Many years back, Minister KBW talked about sending our old-aged parents to stay in homes in Johore. Many people were very visibly upset. But he was talking about the far future (not the near future). Our future homes (of our grandchildren) will be in Iskandar, not on mainland Singapore, which will become very expensive. 11 Link to post Share on other sites More sharing options...
Blueray Hypersonic May 16, 2016 Share May 16, 2016 We are increasing GDP output by adding more labour (no brainer). yup ... just keep bringing people in to increase GDP ... 2 Link to post Share on other sites More sharing options...
Windwaver Turbocharged May 16, 2016 Share May 16, 2016 10,000,000 .... huat ah! highlighted town for T2 ... CCK ... no $1M no sell ... Serangoon 30K only??? 2 Link to post Share on other sites More sharing options...
HP_Lee 5th Gear May 17, 2016 Share May 17, 2016 Ya. private debt is pretty bad recently. Private is roughly about 90% to GDP. I see many debt collectors running around. Our public debts are backed fully by our public assets (reserves). No issue at all. What MAS is concerned over is private debt which is high indeed as a % of GDP. My sensing is currently people overall may not mind borrowing more but there is a limit to how much as a whole people can be allowed to borrow. That's why we praise the CMs. Link to post Share on other sites More sharing options...
Mercs Hypersonic May 17, 2016 Share May 17, 2016 http://www.straitstimes.com/business/property/new-private-home-sales-fell-116-to-745-units-in-april Top five best-selling projects in April May 17, 2016 There were two new launches in April - the 305-unit Sturdee Residences and The Asana, which has 48 apartments. There are now fewer unsold units in the market, thanks to this steady rate of demand soaking up developers' inventory and the reduction in Government Land Sales since 2014, said Mr Alan Cheong, Savills Singapore research head. The stock of unsold private homes has fallen from 20,433 in April 2015 to 16,718 in April this year, he noted. 12 Link to post Share on other sites More sharing options...
HP_Lee 5th Gear May 17, 2016 Share May 17, 2016 That's the way to go by squeezing more people. One day, it could be like Hong Kong. Everywhere is people. we need more "BHBT" apartments or condos. Staying to close to each other may lead to , more frequent uneasiness and neighbouring issues. More MRT breakdowns? Getting difficult to drive around? Aleast I got a place in Australia for future get away with all the over-crowding problems. yup ... just keep bringing people in to increase GDP ... 1 Link to post Share on other sites More sharing options...
Wyfitms Twincharged May 17, 2016 Share May 17, 2016 That's the way to go by squeezing more people. One day, it could be like Hong Kong. Everywhere is people. we need more "BHBT" apartments or condos. Staying to close to each other may lead to , more frequent uneasiness and neighbouring issues. More MRT breakdowns? Getting difficult to drive around? Aleast I got a place in Australia for future get away with all the over-crowding problems. good that u can go australia i fear most singaporeans can only go to iskandar and live in pigeon holes there upon retirement... 2 Link to post Share on other sites More sharing options...
Showster Twincharged May 17, 2016 Share May 17, 2016 For hoarders, even if you give them a 120sqm HDB, they will still bang here bang there due to the things they bring home. More important is to develop the idea of buying less things. MRT network will double or more over the next 15 years to cope. More rail of course more breakdowns by proportion. Car prices are likely to rise significantly but moderated by the efforts to encourage cycling and public transport. The costs are going to be a deterrent for retirees surely. Can rent car occasionally if need to drive. With a larger population, our domestic demand then will give us some buffer to play with in terms of economics and demographics planning. I do hope much of the growth comes from kids who grow up in Singapore, either born here or brought here when they are very young. That's the way to go by squeezing more people. One day, it could be like Hong Kong. Everywhere is people. we need more "BHBT" apartments or condos. Staying to close to each other may lead to , more frequent uneasiness and neighbouring issues. More MRT breakdowns? Getting difficult to drive around? Aleast I got a place in Australia for future get away with all the over-crowding problems. 3 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 17, 2016 Share May 17, 2016 http://www.straitstimes.com/business/property/new-private-home-sales-fell-116-to-745-units-in-april Top five best-selling projects in April May 17, 2016 There were two new launches in April - the 305-unit Sturdee Residences and The Asana, which has 48 apartments. There are now fewer unsold units in the market, thanks to this steady rate of demand soaking up developers' inventory and the reduction in Government Land Sales since 2014, said Mr Alan Cheong, Savills Singapore research head. The stock of unsold private homes has fallen from 20,433 in April 2015 to 16,718 in April this year, he noted. http://sbr.com.sg/residential-property/in-focus/old-project-launches-take-spotlight-in-april-pent-demand-drives-salesOld project launches take the spotlight in April as pent-up demand drives sales May 17, 2016 Sales from previously-launched developments jumped 48.1%. Fence-sitting home buyers are apparently tired of waiting for home prices to slide. Latest statistics show that new home transactions dipped by 11.6% month-on-month in April, reversing the sales surge seen in March. However, analysts argue that this is not bad news—although the headline figure slipped, sales of previously-launched projects stayed robust during the month, highlighting the pent-up demand in the market. For instance, UOL's Botanique at Bartley was the second bestselling project in April, with 52 units sold at a median price of $1,297 psf. The Poiz Residences, first launched in November last year, came in third with 42 units sold, followed by Kingsford Hillview Peak and Cairnhill Nine which sold 39 and 33 units, respectively. "Discounting sales from new launches, developers sold 619 units in April 2016 and 418 units in the corresponding month in 2015, representing an increase of 48.1%," OrangeTee Research noted in a report. The report added that buyer demand appeared more evenly spread out in 2016, with the top 15 projects selling 18 or more units each in April. “This could imply a slight improvement in sentiments and a spill over of pent-up demand into the market. With cooling measures unlikely to be lifted anytime soon, some buyers are experiencing ‘waiting fatigue’ and have decided to enter the market,” OrangeTee Research said 9 Link to post Share on other sites More sharing options...
Porker Turbocharged May 17, 2016 Share May 17, 2016 I don't know if there's pent up demand like what those crazy agents say. Pent up demand seems to be a fav catch phrase for these stupid buggers. I see so many sales. What the f*CK are these idiots saying? 2 Link to post Share on other sites More sharing options...
Showster Twincharged May 17, 2016 Share May 17, 2016 http://www.straitstimes.com/sites/default/files/attachments/2016/01/23/st_20160123_new3_2012605.pdf They are saying this very simple thing: Historically, there should be about 25,000 to 30,000 housing transactions per year, with 15,000 new sales included. But from 2014-2015, total sales average 12-13,000 per year and new sales average some 7,000 units per year. The pent up demand from 2014-2016 will be referring to at least about 36,000 overall transactions shortfall, including some 21,000 new units sales shortfall. This is the "pent-up" demand. I don't know if there's pent up demand like what those crazy agents say. Pent up demand seems to be a fav catch phrase for these stupid buggers. I see so many sales. What the f*CK are these idiots saying? 1 Link to post Share on other sites More sharing options...
Wyfitms Twincharged May 17, 2016 Share May 17, 2016 I don't know if there's pent up demand like what those crazy agents say. Pent up demand seems to be a fav catch phrase for these stupid buggers. I see so many sales. What the f*CK are these idiots saying? 1 Link to post Share on other sites More sharing options...
Duckduck Turbocharged May 17, 2016 Share May 17, 2016 (edited) I don't know if there's pent up demand like what those crazy agents say. Pent up demand seems to be a fav catch phrase for these stupid buggers. I see so many sales. What the f*CK are these idiots saying? Edited May 17, 2016 by Duckduck 2 Link to post Share on other sites More sharing options...
Angcheek Hypersonic May 17, 2016 Share May 17, 2016 NO DEAL: For offering “incentive payments” to 4 homeowners to back the S$590 million en bloc sale at Thomson View, real estate agency HSR has been fined S$74,000. Business must be bad 2 Link to post Share on other sites More sharing options...
Throttle2 Supersonic May 17, 2016 Share May 17, 2016 *yawn* Still yawning.... Everyday more unsold units snowballing. Economy getting softer. More people becoming unemployed like me. so can only yawn..... Now anyone offer me Botanique at Bartley for $1000psf, i also cant be bothered. Muayhahahaah Link to post Share on other sites More sharing options...
Myxilplix Turbocharged May 17, 2016 Share May 17, 2016 I thought today's ST say new private sales dropped in April?? 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic May 17, 2016 Share May 17, 2016 NO DEAL: For offering “incentive payments” to 4 homeowners to back the S$590 million en bloc sale at Thomson View, real estate agency HSR has been fined S$74,000. Business must be bad Aiyoh! People dont want to sell, they bribe ah?!? Wah, under- table style. Hoho ↡ Advertisement Link to post Share on other sites More sharing options...
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