Shull Turbocharged February 5, 2011 Share February 5, 2011 In terms of greed, I believe history will repeat itself, this time round the differences is that many more will jump compared to 1997. Is it possible for a repeat of the US Sub-Prime crisis in China? ↡ Advertisement Link to post Share on other sites More sharing options...
Gendut 2nd Gear February 5, 2011 Share February 5, 2011 Is it possible for a repeat of the US Sub-Prime crisis in China? Very low chance of that happening cos those commies pay cash. Thats right they dont take any loans. Link to post Share on other sites More sharing options...
Chengwh492 Clutched February 5, 2011 Author Share February 5, 2011 u maybe the cow in the picture soon. and before you join the herd to be slaughter, think of your children, how are they going to afford a 800k hdb in the future should you gain from your property appreciation now. think carefully. This is only my thoughts spelled out in MCF. I am not sure about the rest of people thinkings. Singapore will import many FT to absorbe the excess, likewise China will have many country side workers migrate to the major cities to absorbe the excess. Only when there is no new support, then the system will collapsed. My reading of Singapore market for the next 10 years....gov will approve many more FT/PR/citizens in the next 10 years. Untill the 6.5 million target is reach..... Before that figure is reached......the new incoming will support the rentals and new properties in Singapore....so no need to be scared!! Link to post Share on other sites More sharing options...
SimonTan 2nd Gear February 7, 2011 Share February 7, 2011 As of now....the HDB can be S$500,000. This is already a very high price for a single normal wage earners to support alone. If I were to buy a private now, at least I still have a HDB to pass down to my kid and the private to another kid. In future If I only have one HDB property....how to share with my kids? Sell away, the split $$ amount will not even buy a 2room HDB each! So in a way, I am thinking of getting a 'cheap' additional units now, as a hand me down for my kids. I might be selfish with my thinkings. But usually the gov will control the prices before election. LHL/MBT already say they understand and promised to allow the properties to appreciate at a slower pace(meaning properties in Singapore is Pao-Jiak Nap shot one) Both also promised they will not allow the bubbles to form, much less burst as it will hurt everyone. With this type of assurance....I am confident that property will be sustainable for the next 10 years. I am not the only one that thinks this way....thru the CNY meet-ups...many relatives and friends all think similarly. Its now or never to own additional properties in Singapore. Gov is worried about boderline investors/speculators, who buys and sell at higher prices for profit. But for many of my friends/relatives....we are buying it to stay/rental. So it should be safe! NO? and before you join the herd to be slaughter, think of your children, how are they going to afford a 800k hdb in the future should you gain from your property appreciation now. think carefully. Link to post Share on other sites More sharing options...
Thargor 1st Gear February 7, 2011 Share February 7, 2011 Gov is worried about boderline investors/speculators, who buys and sell at higher prices for profit. But for many of my friends/relatives....we are buying it to stay/rental. So it should be safe! NO? Those who tell you don't go for it...probably stay in HDB. I know I am overly generalizing but I dare say 80% of those who said that are stayin in HDB. I bought my private property 2 years ago...near a very famous top primary school. The price hit rock bottom then at X dollars. Anymore lesser than X dollars will not even get you a 5 room HDB. 2 year later, its at 1.3X dollars. Frankly I am waiting for the market to crash...I know my property will not fall below X dollars unless HDB market crashes...somemore its near the top school...prices will not fall that much. Going to buy another bigger place then and sell my existing...hopefully in 4-5 yrs time the market will go burst Link to post Share on other sites More sharing options...
Chengwh492 Clutched February 7, 2011 Author Share February 7, 2011 they get you onto the loan bandwagon and you for life is committing to the asset you have here, so that you will stick your butt and not be mobile since there is so much of your property wealth at stake on the tiny island. also at same time, they will pre program your brain to think that price will always cheong to the sky because there aint enough to go around. the common sinkies will think thats really the case, and they die die jump in at the peak. when poo hits the fan, they will ask their govt to bail them out using the nation's coffers and taxpayer money. didnt you seen this in the subprime in america back 2yrs ago? Link to post Share on other sites More sharing options...
Minikong 1st Gear February 7, 2011 Share February 7, 2011 you cant do any thing about it. who can stop china or indian citizen to come and buy a property and leave it empty without staying in it. no one. ask yourself. how many singaporean buy malaysian property. dont complain, just work hard save money and try to buy one. you still can buy hdb while foreigner cant sad to said, if u and your wife monthly income add together is more than 10k without deducting cpf, u are not eligible to buy hdb :) Link to post Share on other sites More sharing options...
Tyongchi 1st Gear February 7, 2011 Share February 7, 2011 The market boom today is mainly due to excess liquidity, low interest rate and limited investment vehicle. Assuming you got $1M to invest. Put in the bank only earns you 0.3%. But if I buy a property at $1500 psf with rental yiel of $60 psf per year, my gross yield is 4%. After deducting normal expenses, I still have 3% yield. Furthermore, if capital appreciates, I gain again. So for a normal person w limited investment insight, property seems to be a good investment option at the current environment. With cash payment, he is not affected by interest rate. Link to post Share on other sites More sharing options...
Amuze Neutral Newbie February 7, 2011 Share February 7, 2011 Most believe there will always be a job waiting for them.. or that the golden period never ends. Link to post Share on other sites More sharing options...
Felipe 3rd Gear February 7, 2011 Share February 7, 2011 Singaporeans go London, Australia, Canada, etc to buy up their properties in cash. Many of such properties are left empty, for kids universtity study stay or year end holiday stay. These countries property marekts are still alive. China properties are left empty because the properties has at least doubled in value, many i know have 3-5 times increased in value. Especially those bought before the beijing olympic, because my chinese colleagues all told me, their properties in beijing has 5-6times increased in value, most regretted never buy few more properties before 2008. These same chinese and FT have tasted the profitability of properties in their homeland, and are now dabbling in Singapore markets. Why rent a HDB for the 5-10 years they will be working here and lose the ($1000 x 12months X 5years=) $60,000 for nothing? When they can buy a HDB/Condo, and pays the bank $1000 in monthly loans. When the time comes to leave Singapore. Worst case scenario, even if property did not boom and they are forced to sell at the original purchased price, they would only lose the monthly installment, akin to renting. The actual scenario is that singapore properties are increasing greatly, when they leave in 5-10 years time, the properties would have doubled, which means double Huat for these FT. Singapore property will NEVER crash...unless PAP is defeated....since PAP will never go down....that means singapore property will be stable for then next forseenable 10 years. I am going to be vested....and will likely buy my first private prop....in few months time....once there is a clear reading of the effect of the recent measures. I am confident of SIngapore...although I have grouses against PAP....but overall....SIngapore property will not crash untill everyone die. I am waiting for prices to drop 10-20% to get in...then reap the appreaciation of possible increase 20-50% for the next 5 years. HUAT AH> country small, so hard to crash. but be careful of overspending on a property. for eg, a million dollar property should be for those with combined income of ard 15-20k. Link to post Share on other sites More sharing options...
Jamesc Hypersonic February 7, 2011 Share February 7, 2011 Thats exactly right. Only poor people that need to borrow money are affected by interest rates. Rich people who have cash are not affected if interest rates goes up. Its actually better for them. Higher interest on their bank deposits. Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged February 7, 2011 Share February 7, 2011 Most believe there will always be a job waiting for them.. or that the golden period never ends. well said, can't agree more. It is very sad to observe today's Singaporeans think, talk, eat. sleep, sh1t only these subjects : Property, Stocks, Cars, Bags/shoes, Gadgets, Holiday and Garment bashings (this is good fodder though) All these shallow materialistic chitchat makes me kinda sick hearing their boastalk. From Brother-in-laws to friends to colleagues, all wannabe millionaires with endless stream of passive income. Link to post Share on other sites More sharing options...
Chengwh492 Clutched February 7, 2011 Author Share February 7, 2011 well said, can't agree more. It is very sad to observe today's Singaporeans think, talk, eat. sleep, sh1t only these subjects : Property, Stocks, Cars, Bags/shoes, Gadgets, Holiday and Garment bashings (this is good fodder though) All these shallow materialistic chitchat makes me kinda sick hearing their boastalk. From Brother-in-laws to friends to colleagues, all wannabe millionaires with endless stream of passive income. got alot here too what. from toilet cleaner to 'semi-d bungalow' weekend car owner to hotdog seller also have. take your pick. Link to post Share on other sites More sharing options...
Ghostami 2nd Gear February 7, 2011 Share February 7, 2011 well said, can't agree more. It is very sad to observe today's Singaporeans think, talk, eat. sleep, sh1t only these subjects : Property, Stocks, Cars, Bags/shoes, Gadgets, Holiday and Garment bashings (this is good fodder though) All these shallow materialistic chitchat makes me kinda sick hearing their boastalk. From Brother-in-laws to friends to colleagues, all wannabe millionaires with endless stream of passive income. You need to wait for another recession to see who is the real rich fellow... Maybe lots of them will be selling or pawning stuff.. Link to post Share on other sites More sharing options...
Tigershark1976 Turbocharged February 7, 2011 Share February 7, 2011 Tell that to those who bought in 1997. im one of the "those" who bought my flat in 1997 n sold 3 yrs ago.... made almost 90% before deducting the interest n other misc fees... Link to post Share on other sites More sharing options...
Amuze Neutral Newbie February 7, 2011 Share February 7, 2011 You need to wait for another recession to see who is the real rich fellow... Maybe lots of them will be selling or pawning stuff.. don't need recession, retrenchment is bad enough for the marginal ones. Link to post Share on other sites More sharing options...
Skunk Clutched February 7, 2011 Share February 7, 2011 well said, can't agree more. It is very sad to observe today's Singaporeans think, talk, eat. sleep, sh1t only these subjects : Property, Stocks, Cars, Bags/shoes, Gadgets, Holiday and Garment bashings (this is good fodder though) All these shallow materialistic chitchat makes me kinda sick hearing their boastalk. From Brother-in-laws to friends to colleagues, all wannabe millionaires with endless stream of passive income. wow this is one of the best things I've heard so far :) u made my day! Link to post Share on other sites More sharing options...
Amuze Neutral Newbie February 7, 2011 Share February 7, 2011 well said, can't agree more. It is very sad to observe today's Singaporeans think, talk, eat. sleep, sh1t only these subjects : Property, Stocks, Cars, Bags/shoes, Gadgets, Holiday and Garment bashings (this is good fodder though) All these shallow materialistic chitchat makes me kinda sick hearing their boastalk. From Brother-in-laws to friends to colleagues, all wannabe millionaires with endless stream of passive income. my all time favourite is the stock market thread. ↡ Advertisement Link to post Share on other sites More sharing options...
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