Future-Many Will Be Stuck With Overpriced Property

[Robo]

actually very easy one.

 

You show them you are on their side. Also be a bit more relax on them when they are working and let them know, as long as things are done, you are okay with them. sometime treat them to eat.

 

but one thing very important. at the begining, learn their job and if you dont know ask them to teach. after that help them once in a while, they will know that you can work and not like those other Singaporean who only know how to tok but dont know how to work. they will side with you.

 

icic... heng i no need to handle them at all.

[Joseph22]

icic... heng i no need to handle them at all.

 

 

yes. i took about 2 months to earn their respect. but its worth it. cause i learn a lot from them.

[macrosszero]

Being stuck isn't as bad as what happened when the US property bubble burst and banks decided to adjust property values down according to the market conditions, and home owners were forced to cough up the difference because the loan amount was greater than what the property was worth.

[Zangetsu77]

Being stuck isn't as bad as what happened when the US property bubble burst and banks decided to adjust property values down according to the market conditions, and home owners were forced to cough up the difference because the loan amount was greater than what the property was worth.

 

Yup, happened in Singapore during the Asian Financial Crisis. People with multiple properties couldn't top up loans, properties "force-sold" via auction, outstanding loans cannot settle then become bankrupt.

 

The key risk still lies with the global economic recovery. If it carries on recovering slowly, with some renewed stimulus measures, the market will learn to adapt to the pace of recovery and property prices are unlikely to soften.

 

If the modest recovery is disrupted by any major global financial or political events, then we will get a double dip. Nevertheless, unless the epi-centre is in South East Asia, the effects may be less catastrophic then back in the 97-98 period.

[Drumstick]

Think it will be still climbing till mid next yr...especially after some sectors reported healthy growth....

 

But frankly speaking....HDB should be controlled especially 4rm n below.

Let the private market be the raging bull.

 

At the end of the day, majority of owners just want to have a roof over their head.

If not, in future, we may not even have a pigeon hole but open space park with no shelter over our heads.

 

Or end up like Japan...need 2 - 3 generation to pay off a house...

[Jamesc]

If the modest recovery is disrupted by any major global financial or political events, then we will get a double dip.

 

That exactly right, if the recovery is very weak then any shocks will cause a double dip.

 

[Zangetsu77]

That exactly right, if the recovery is very weak then any shocks will cause a double dip.

 

Unfortunately it's not so easy to predict the next shock. The immediate visible threat is Chinese asset bubble bursting, but Chinese Govt seems to be managing it appropriately at this point.

 

North Korea could invade South Korea, Osama could give Obama a present, large meteor could strike Earth, tsunami could hit Sentosa... The list of worries go on.

 

And very often, when you most expect it, it doesn't happen. When you least expect it, it strikes.

[Jamesc]

I am not sure about North Korea, Obama, meteors or tsunamis, I just look at US unemployment - 10 million, foreclosure on US housing, European austerity measures and China cooling the property market.

 

All these tell me the economy will definitely cool, how much or how fast, I am not sure but I am not taking an risk now and going full defensive.

[Icedbs]

http://www.fas.nus.edu.sg/ecs/scape/doc/Ti...0-%204Aug10.pdf

 

Timely reminder.

 

The last 4 bullet points are worth a read if you find it too wordy.

 

 

This news must be quite old right? They were talking of interest rate of 5 percent!!!

 

 

[Zangetsu77]

This news must be quite old right? They were talking of interest rate of 5 percent!!!

 

SIBOR and SOR are at all time low again, after short spike in June/July. Even lower than Mar 09 lows. Economists forecasting the SIBOR to be ard 1.5% by end 2011, which is still low.

 

Heh, dunno whether to feel happy or sad...

[Jay1980]

I am wondering when the double dip will happens. 3 yrs ago, when I try to buy flat, ppl tell me flat sure drop but now seems like sky rocket. Anyway thanks to MBT, I have apply for 5 times bto since 3 yrs ago and yet to get a chance. It's all my fault, why I'm not an elite. Puke

[TandemAssassin]

eh?

the bold words in qoutes read

 

"For a 30-year old earning $5520 a month with savings of $118900, affordable homes would be an HDB executive flat or lower....."

note: "a 30-year old" and "(not combined) savings"

 

compare that to the table row "Middle 50th", I think they meant individual, not household

 

Nope. 2nd column, 2nd para. The DPV of lifetime earnings is computed based on household income of households headed by a 30 year old.

[Wind30]

I am wondering when the double dip will happens. 3 yrs ago, when I try to buy flat, ppl tell me flat sure drop but now seems like sky rocket. Anyway thanks to MBT, I have apply for 5 times bto since 3 yrs ago and yet to get a chance. It's all my fault, why I'm not an elite. Puke

 

are you a first timer? were you offered a flat before?

[Zangetsu77]

I am wondering when the double dip will happens. 3 yrs ago, when I try to buy flat, ppl tell me flat sure drop but now seems like sky rocket. Anyway thanks to MBT, I have apply for 5 times bto since 3 yrs ago and yet to get a chance. It's all my fault, why I'm not an elite. Puke

 

There's an interesting article in today's Cai Jin in the money section in Straits Times. It's quite clear US economy is frail. Personally i think US Govt will definitely go for round 2 stimulus measures, because there's little more that they can do and not lose popularity.

 

Print more $$$$, and in doing so, interest rates remain low and a lot of foreign capital will flow into Asian equities and assets.

 

You probably won't see the double dip yet because all the World Govts will try very hard to support and prop up. A bigger and more gigantic bubble will form before bursting cataclysmically. A 2nd round of stimulus may last for 1 year, and generate sufficient euphoria for 1-2 quarters, with hot money flowing into Asia (including Singapore).

 

 

[Jay1980]

are you a first timer? were you offered a flat before?

Yes I,m first timer and no I did not being offer a flat b4. think it time to go bang table. I remember MBT say b4 no first timer will be rejected for more than 4 times in BTO scheme. Anyway just wondering who is going to compensate me for the losses in difference between flat price 3 yrs ago and now. It so stupid to have the BTO scheme. I still perfer the queue one. so much better. Pls. someone pls tell MIW the BTO scheme s*#k

[Wind30]

Yes I,m first timer and no I did not being offer a flat b4. think it time to go bang table. I remember MBT say b4 no first timer will be rejected for more than 4 times in BTO scheme. Anyway just wondering who is going to compensate me for the losses in difference between flat price 3 yrs ago and now. It so stupid to have the BTO scheme. I still perfer the queue one. so much better. Pls. someone pls tell MIW the BTO scheme s*#k

 

If that is the case, you should write in to straits times or something. I am very sure you will get a flat next ballot. but they may give you the left overs low floor ones.... and if you reject, then they say it is your problem....

[Jay1980]

If that is the case, you should write in to straits times or something. I am very sure you will get a flat next ballot. but they may give you the left overs low floor ones.... and if you reject, then they say it is your problem....

 

haha ya lor then lppl. And maybe they will blacklisted me forever

 

[Viceroymenthol]

There's an interesting article in today's Cai Jin in the money section in Straits Times. It's quite clear US economy is frail. Personally i think US Govt will definitely go for round 2 stimulus measures, because there's little more that they can do and not lose popularity.

 

Print more $, and in doing so, interest rates remain low and a lot of foreign capital will flow into Asian equities and assets.

 

You probably won't see the double dip yet because all the World Govts will try very hard to support and prop up. A bigger and more gigantic bubble will form before bursting cataclysmically. A 2nd round of stimulus may last for 1 year, and generate sufficient euphoria for 1-2 quarters, with hot money flowing into Asia (including Singapore).

 

yup... so far we have a couple of trillion being printed and pumped into the world economy every year since 2008.

 

booming stock and asset markets not because the global economy is doing very well but because of the flooding of cheap cash everywhere and the most obvious direction of flow is into asia with growing domestic economies and commodities demand.

 

it is not good to hold cash now when the value of cash is like toilet paper and when the bubble bursts, it won't do any good holding cash either. i feel sorry for all the people squirreling money under their pillowcases and bank accounts.

Edited August 9, 2010 by Viceroymenthol