Serious 80% Of Sinkies Who Buy HDB Resale Use CPF Entirely To Service Mortgage! Macam Like Buying For Free!

[k1976]

Unwinding of CNY carry trade may have a profound impact...Huat Big Big hah ​

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Markets are worried about the Chinese yuan sparking a new wave of turmoil​

Huileng Tan
Thu, 8 August 2024 at 2:07 pm SGT4-min read

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• Markets are stabilizing after Monday's selloff, but concerns are shifting to the Chinese yuan.
• Some analysts are warning of potential yuan carry trade unwind.
• Japan's interest-rate hike triggered a massive selloff on Monday due to the yen carry trade unwinding.

The markets appear to have stabilized after melting down on Monday, but there's a new worry on the horizon in the form of the Chinese yuan.
Monday's massive market selloff — the worst on the Nikkei since Black Monday 1987 — was in part triggered by the unwinding of Japanese yen carry trades.
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"The next carry trade unwind could be the yuan," Khoon Goh, the head of Asia Research at ANZ, told CNBC on Wednesday, pointing out that the offshore yuan already jumped against the dollar earlier on Monday as a kneejerk reaction to the yen carry trade unravel.

The carry trade strategy involves borrowing Japan's longstanding ultra-low interest rate environment to fund higher-yielding assets elsewhere. The Bank of Japan's rate hike last week, however, jolted the market, forcing investors who borrowed to fund their carry trades to liquidate their positions, setting off the global market rout.

Now, analysts and investors are jittery about the same happening in the Chinese yuan.
China is in a low interest-rate environment as authorities are trying to boost the country's flagging economy.

 

[JohnTan]

Yeah, lots of dumb sinkies believe that. My friend is still trying to sell his flat. His flat is old, but still have more then 60 years left on the lease. But guess what the PAP doesn't tell u. When you have an old flat like his, no bank will give the potential buyer a loan. They consider it too old. So, any potential buyer has to pay cash for it. He started out asking low $500k. Which is not overpriced given the size of the flat and the location. Now has to drop the price twice, by almost $100K. Still no buyers. Which buyer has that kind of money to pay cash? Only Mainland china new shiiziens. But those fuckers want new flat. His only choice now is to keep dropping the price. Until one day, it will not be worth it for him to sell anymore. Because the flat he plans to down size to will be the same price as his current flat. Understand or not.

Your friend is a fucking loser. Old HDB flats have successfully sold for double of what your friend is asking for.

https://www.mustsharenews.com/tampines-executive-flat-resale-record/amp/

 

[Papsmearer]

Your friend is a fucking loser. Old HDB flats have successfully sold for double of what your friend is asking for.

https://www.mustsharenews.com/tampines-executive-flat-resale-record/amp/

Kindly tell me which bank in singapore will finance a 35 year old flat to be purchase. I can pass that info on to my friend. If cannot, then fuck off asshole

 

[Hypocrite-The]

Kindly tell me which bank in singapore will finance a 35 year old flat to be purchase. I can pass that info on to my friend. If cannot, then fuck off asshole

Will HDB themselves finance a 35 year old flat?

 

[k1976]

Kindly tell me which bank in singapore will finance a 35 year old flat to be purchase. I can pass that info on to my friend. If cannot, then fuck off asshole

BAnk will give a housing loan if the remaining housing lease still have 20yrs when Borrower reach 92yrs old...can check for details

 

[Papsmearer]

Will HDB themselves finance a 35 year old flat?

No they will not

 

[Papsmearer]

BAnk will give a housing loan if the remaining housing lease still have 20yrs when Borrower reach 92yrs old...can check for details

Like that very few people qualify for it. e.g. if you are 30 years old and want to buy this 35 year old flat with 64 year left on lease. by the time you turn 92, the flat is 97 years old. So, you only have 2 years left on the lease. But as you say, housing loan qualification need to have 20 years left on the lease. So, like that how to buy?

So do the maths. The youngest anyone can buy a flat is 21 years old. In order for the flat to have 20 year left on the lease as per your example, the flat cannot be more then 79 years old when you reach 92 years of age. That is a 44 years (79-35). So a 21 year old is at best 66 years when the flat is 79 years old. U can qualify if you are 50 plus years of age, but how many banks give bank loan to some one that old when they are that close to retirement?

 

[Scrooball (clone)]

First time I hear of using own money (CPF from your own salary) to pay for something is getting something for free!

 

[Papsmearer]

First time I hear of using own money (CPF from your own salary) to pay for something is getting something for free!

got a lot of gongkia in singapore

 

[sbfuncle]

First time I hear of using own money (CPF from your own salary) to pay for something is getting something for free!

You haven't heard the hospital billing asking you whether you want to claim from your cpf medisave yet. That will make sinkies further into believing cpf is not their money.
Since is not their money, henceforth the free here.

Smarter sinkies like me will correct them by saying I want to use my cpf medisave, not claim.

 

[k1976]

Like that very few people qualify for it. e.g. if you are 30 years old and want to buy this 35 year old flat with 64 year left on lease. by the time you turn 92, the flat is 97 years old. So, you only have 2 years left on the lease. But as you say, housing loan qualification need to have 20 years left on the lease. So, like that how to buy?

So do the maths. The youngest anyone can buy a flat is 21 years old. In order for the flat to have 20 year left on the lease as per your example, the flat cannot be more then 79 years old when you reach 92 years of age. That is a 44 years (79-35). So a 21 year old is at best 66 years when the flat is 79 years old. U can qualify if you are 50 plus years of age, but how many banks give bank loan to some one that old when they are that close to retirement?

U have to ask Boss John and Kopi Soh the insider

 

[k1976]

got a lot of gongkia in singapore

Well, school never teach proper "Economy 123"