can i ask you a question? If the property prices keep going up.. how are those newly weds going to buy it? Are they going to slog for the whole life just to pay for it? For those new entrepreneur who want to set up an office or business, are they going to pay high price for that as well? How are people going to pay for all these unnecessary high priced rent and mortgages. This is totally ridiculous.
Singapore property prices are not driven by market forces, it is artificially being pushed up by the govt's policies and pace of property expansion... There is not free market forces to speak of..
Why aren't singaporeans see the whole picture.
As long as people can afford $80,000 for a COE, the property market will not go down.......
I talking sense? yes?
A lot of people bought in mid 90s and lost hundred of thousands. I know because I was one of them.because the MSM is controlled by the garmen and they themselves like SPH, DBS are involved in the property devlpments, lending and marketing etc. how can an economy developed when almost 90% of it is based on speculation in property? no wonder singapore does not produce any note worthy entrepreners unlike US or even asutralia.
Its is a very dangerous cycle as it is going to burst soon. alot of people were burnt in the 1997 crises. the newspaper just did not report it. even a former MP went bankrupt and need Temasek to bail him out. you know who. Now with the european crises and the US still unable to manage their economy despite 3 round of stimulus, it is is only a matter of time in terms of days when things would crash down. even China economy is going down. don't believe all the hype in the papers that they are printing. It is a con job by all the developers as closed to 18, 000 units are due for completion in 2013 and they are sweating as interest rates is going to up and alot of people is going to get burnt. mark my words. at the end of the day, only 0.001% of the population benefit and the rest 9% are tied up with 30yr mortgage and car mrotgage etc and with diminishing pay because of useless FT imported to suppress pay, no wonder alot of people are killing themselves. soon you would see alot of blood and tears. the casino is an eyeopener and the garmen is having difficulty wwith all the social ill effects.
Base on what data?
Paper currency is worthless when US keep printing and Euro may break up.
Gold and precious metals on the other hand are limited supply, for now.
You'll be retarded if you listen to LKY long enough.
EVERYTHING will go up in the long run! Its called inflation.
A lot of people bought in mid 90s and lost hundred of thousands. I know because I was one of them.
However if they use public funds/land/agency to control demand and supply and make prices unaffordable to the electorates, ,than its morally/politically wrong and should be voted out.
Why should we join hands with such people to make life miserable for our children and grandchildren.
This is still happening now. The current mindset amongst middle aged professionals aged 30 to 40s is still "buy now while you can, property prices will continue to rise in the long run". So I see those in the prime of their careers buying anything from 800k EC to over 1 million condo apartments. not sure how they will make it through when the property prices crash and they lose the jobs needed to sustain monthly payments.
Many of these buyers are now up to the brime with their loans. Most max out what they can borrow from the banks.
I just waiting for the day wghen bank increase housing loan interest rates, sure many fire sales then.
Many of these buyers are now up to the brime with their loans. Most max out what they can borrow from the banks.
I just waiting for the day wghen bank increase housing loan interest rates, sure many fire sales then.
During the good times I noticed that the interest rate in Spore was lower than other countries. It soon became obvious to me that it was being manipulated by the PAP. The lower rates benefit the gov't as they don't have to pay so much to borrow from the CPF.
They can also continue to peddle expensive HDB units to the "lesser mortals". Many "lesser mortals" can manage the low interest rates but if it goes up, expect many to default on their bank loans.
So as long as the PAP is in power it is in their interest to keep interest rates low.
Our interest rates are deteremined by US interest rates. PAP can't manipulate US rates you fool.
anyway I am looking forward to a crash next year and fire sales.
Obviously the Spore gov't can't manipulate the US interest rate.
However that doesn't mean they can't determine the rate in Spore
This rate is regulated by MAS. If you don't believe me, just ask any bank in Spore.
Our interest rates are deteremined by US interest rates. PAP can't manipulate US rates you fool.
anyway I am looking forward to a crash next year and fire sales.
You are wrong. If our rates are different from US rates, it will cause problems for us cos our economy is so open