Throttle2 Supersonic July 10, 2012 Share July 10, 2012 No need for analysis lah ... as you mentioned .... RULE OF THUMB .... 120k per annual, 5 x 120k = 600 k ...... enough for a 3 BRs ???? Even a EC cost more ... IMO, your rule of thumb is flawed ..... Nothing is flawed just conservative or aggressive thats all ↡ Advertisement Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged July 10, 2012 Share July 10, 2012 yup, my salary can rubberband as i wish. next month maybe I put $15k pm and then revised again to $9k pm and then $20k pm then revised again. For now, it stand at $8k pm loh..... haha Your salary increase because of what reason ? Your PRODUCTIVITY increase 100% because suddenly you got superman powder to wipe all tables and they fire the ATs since you 1 person can all their job ? or Your boss promote you to CEO = CHIEF Environmental Officer ? Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 10, 2012 Share July 10, 2012 Your salary increase because of what reason ? Your PRODUCTIVITY increase 100% because suddenly you got superman powder to wipe all tables and they fire the ATs since you 1 person can all their job ? or Your boss promote you to CEO = CHIEF Environmental Officer ? In this forum, i report $4k nobody believe, i report $8k also nobody believe, i report $20k also nobody believe so i just report anyhow lor.... Hahaha. Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged July 10, 2012 Share July 10, 2012 In this forum, i report $4k nobody believe, i report $8k also nobody believe, i report $20k also nobody believe so i just report anyhow lor.... Hahaha. I t hink they are all waiting to see your bank account... Link to post Share on other sites More sharing options...
Animian Clutched July 10, 2012 Author Share July 10, 2012 (edited) now i understand why people say dont be deceived by those who stay in HDB cos they can be even richer than those in EC and condo ... just look at the way they do their sum ... to buy car / condo must have x no of year of annual income before purchase else keep quiet and stay in HDB. meaning their actual Annual income is way above the ceiling of those set by HDB just they are most harsh in setting their own rules in going pte or get luxury cars ... Edited July 10, 2012 by Animian Link to post Share on other sites More sharing options...
Bigmatt140 Neutral Newbie July 10, 2012 Share July 10, 2012 there is no need to. there is also no need to fake drivng 370z or Audi and fake having a rich wife and fake all your other stories... you have gone beyond being a joker. you are a joke. that is reason enough for mods to take you out... isnt this a forum? or a virtual world? i can be anybody here. Link to post Share on other sites More sharing options...
Enye Hypersonic July 10, 2012 Share July 10, 2012 (edited) what is that supposed to mean? He just said that HDB people have very poor social graces even if move to condo very different compared to private property owners like him who never stay HDB before elite talk no need to spell out so clearly. Edited July 10, 2012 by Enye Link to post Share on other sites More sharing options...
Enye Hypersonic July 10, 2012 Share July 10, 2012 My opinion with regard to affordability is not that you must have xxxk before you even dare to get one. It is more of knowing the calculated risks involve and your hunger for the gain. Property here can only move up though there is this cyclical up-down-up-down thing, so important is the holding power and wait out. My parents-in-law are rank-and-file employees, yet able to upgraded from 3-rm flats, 4-rm flats, etc, etc, progressively all the way to landed property over the years. Just in May this year, they collected proceed of > $1mil cash from yet another enbloc sale. But immediately, most of it are plough back to get other property. I am not advocating reckless buying, but doing it within means and after doing all the sums. Being a little risky is ok so long as able to ride out the bad times. If not, with the education level and jobs, my in-laws would still be living in a 3-rm flat. It is important to have dreams and doing it. the period of easy money from properties are probably over by this generation. Link to post Share on other sites More sharing options...
HP_Lee 5th Gear July 10, 2012 Share July 10, 2012 The high prices now is different from the high prices of 1998. One of the main reason why property prices have been going up is due to the growth of population. From the population census : 1998 Total population ('000) : 3,927.2 Singapore residents ('000) : 3,180.0 2011 Total population ('000) : 5,183.7 Singapore residents ('000) : 3,789.3 The other factor is that interest rate is currently at historical low. In 1998, the SIBOR actually hit it's record high before the crash. Property is always seen as a hedge against inflation (property is 25% of the CPI) and alot of the mass market property is supported by demand. I have a friend who recently sold his condo and is looking for another property. From the sale of his condo, he got about 80k cash and I advised him to get a HDB thinking that it is more "affordable" but it may not be so. He told me that it doesn't make sense for him to get a HDB because he has to pay COV and spend money on renovation as well. He will end up spending between 30 - 50k minimum. On the other hand, he found a condo that is in move in condition and he just need to pay 5% cash with 15% coming out of CPF and the rest with a mortgage loan. Assuming he keep his cash outlay to 50k, he can buy a condo that cost 1 million. It isn't just private property prices going up, HDB prices are also going up alot. Mass market condo prices are supported by HDB prices. Alot of the recent mass market condos launch did well because there's demand from HDB dwellers. Bro , I have copied this previously I wrote. And still stand-by it. Just in case you have missed these threads that I wrote earlier, on why I sold my property last year. You may visit my post number : #4388456 #4388413 #4387942 On #4388413, I have copied over : I have better ways to hedge, while using this new money to reinvest other than properties. Yaa.,.. ppl used to say, low interest rate are here is stay, bank savings interest rates are super low, bank loans are like free money, land are scare, new Singaporeans are here to stay and so on...... But have anyone consider the downside risks : 1. Low bank interest rate will not stay for 30years. 2. Rental yields may regress and compress when interest rates are up, more housing have started to flood the market. Current rental yields are a low of 3 - 4% ? When the bank interest start to revert, you have near 0 -1% yield. That is lucky, if you don't get negative. 3. HDB have been building like no body business. Remember, it takes 10 over years for property to pick up after the last downturn during 1998. Those days HDB are flooded and had caused private property to be depressed. 4. The property prices have move too far away from average income earners. Couples have to work in order to keep the private property. (Keep working for the banks till you are 50s or 60s) 5. Worry of one losses job and cannot repayment banks installments. This is a long and large commitment. Jobs today are filmsly. 6. Outflow of FTs have yet began. Recent gov. policies are starting to give the FTs a difficult one. After doing my sum and probables, was better to off load, since the returns was $350+K pure profits. Since I can no long able to generate a yield of more than 4%, I would rather add-on to my portfolio, which have been generating 9 - 12%. Besides that, I can spread the risk, rather than concentrated a large potion of investment which is illiquid. I am not saying the property market will come down soon. But I just don't know when this replay ends like. I maybe out in the early stages of property boom. If everyone knows when the last train to catch, there will be no property cycles. Aleast my HDB flat was paid up 5 years back and do not need to work hard for the bank, accept 4.5 years loan of my car which I can pay up anytime. Is good to have a private property, but at which cycle you are in, that matter to me. Last but not least, I often hear this, " It cannot goes wrong, when you follow the crowd rational". I have a better ways to spread and hedge for better yields. No thanks for me, aleast now. While generating better yield spread, I can wait of the property market to regress, before making inroads with more choices. If you were telling me 5 -6 years ago, property invest are great, I believe, but not at the juncture Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 10, 2012 Share July 10, 2012 He just branded HDB people are of a very different class compared to private property owners like him lah. elite talk no need to spell out so clearly. I think you might have again misunderstood me. Firstly, i grew up in a HDB from 5 yrs old until 27 yrs old . I studied in neighborhood govt school An Elite to me is a foreign word. it's good to know oneself and not try to be what one isnt. eg. 1. Goons who go overseas just for a few years and come back with some silly thick accent. 2. Acting high class just becos one's address does not start with a "Blk" 3. Buying branded goods regardless of the awful design so that one can be seen as stylish and tasteful many more.... 1 Link to post Share on other sites More sharing options...
Jrage 1st Gear July 10, 2012 Share July 10, 2012 (edited) like that, 10K combined can only buy a 60K COE and the 1 million condo requires the couple to earn 200K per year like that, property and car market crach liao I think most ppl are observing this rules.. dun assume that all owners of pte pty are taking big loans. Alot 2nd time home-owner to have ablities to pay off the mortgage within 10 yrs. Many I know are fully aware of the us/eu risk and tends to be very careful in their investment. Those buy luxury cars, esp during the 2007-2010 period, generally pay in full or loan min to get disc. B&B owners has big loan obligation. Edited July 10, 2012 by Jrage Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged July 10, 2012 Share July 10, 2012 He just said that HDB people have very poor social graces even if move to condo very different compared to private property owners like him who never stay HDB before elite talk no need to spell out so clearly. it is easier when a person is born with a silver spoon or maybe even gold spoon..... too bad i am not one of them Link to post Share on other sites More sharing options...
Enye Hypersonic July 10, 2012 Share July 10, 2012 I think you might have again misunderstood me. Firstly, i grew up in a HDB from 5 yrs old until 27 yrs old . I studied in neighborhood govt school An Elite to me is a foreign word. it's good to know oneself and not try to be what one isnt. eg. 1. Goons who go overseas just for a few years and come back with some silly thick accent. 2. Acting high class just becos one's address does not start with a "Blk" 3. Buying branded goods regardless of the awful design so that one can be seen as stylish and tasteful many more.... There are people like that around everywhere... They have a choice on their behaviour but we also have our choice of friends. But your earlier statement did refer to HDB people in general and reeks of elite talk. that's how I perceive it anyway, others might not agree. Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 10, 2012 Share July 10, 2012 it is easier when a person is born with a silver spoon or maybe even gold spoon..... too bad i am not one of them dont say that of Thaiyo lah... as for me, i am self made thats why so poor.....KNN. Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 10, 2012 Share July 10, 2012 There are people like that around everywhere... They have a choice on their behaviour but we also have our choice of friends. But your earlier statement did refer to HDB people in general and reeks of elite talk. that's how I perceive it anyway, others might not agree. i admit, sometimes my posts are quite twisted lah... and purposely done to incite feelings Link to post Share on other sites More sharing options...
Sabian Turbocharged July 10, 2012 Share July 10, 2012 In this forum, i report $4k nobody believe, i report $8k also nobody believe, i report $20k also nobody believe so i just report anyhow lor.... Hahaha. Apply the rule of thumb to the cigars, rollies, house and CLS...how to believe? Link to post Share on other sites More sharing options...
Princey_anne 1st Gear July 10, 2012 Share July 10, 2012 like that, 10K combined can only buy a 60K COE and the 1 million condo requires the couple to earn 200K per year like that, property and car market crach liao Also depends on the couple's spending style Link to post Share on other sites More sharing options...
Princey_anne 1st Gear July 10, 2012 Share July 10, 2012 isnt this a forum? or a virtual world? i can be anybody here. 🙌+1 like ↡ Advertisement Link to post Share on other sites More sharing options...
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