Economic News

[Funniman]

You criticize others so much, is it not fair to ask for your solutions or back up plans, if you have any? Otherwise it is just not constructive criticism which offer less helpful value.

Tok cock no need fair one....tok free onli. Can tok like expert. No capital. no loss wan.
All stupid investors. Wakakakakaka....

 

[xebay11]

Tok cock no need fair one....tok free onli. Can tok like expert. No capital. no loss wan.
All stupid investors. Wakakakakaka....

Isn't that the truth? You mean Iskandar investors all making money? You tok kok no need fair one hor? Because tok only free mah. Can tok like expert...... Ha ha ha ha funny man!

All Iskandar investors are the best and cleverest wakakakakaka

 

[Frodo]

You said that rental from your HDB flat covers your loan repayment in MY but didn't mention whether your HDB loan is fully paid.
If its fully paid, good for you but if your HDB loan is still outstanding, probably you're paying with your CPF monthly and if this is the case, your CPF savings would not be substantial towards the end of loan payment.
Whatever it is, it is the life you chose but your resources seems quite stretched, you are living dangerously.
Sorry, not pouring cold water, but just a kind reminder.

As tstar has spoken for me (thanks bro!), my HDB loan has a few thousand outstanding. Right now CPF also as good as kosong. As a single income earner with family, my resources have always been stretched, especially when there's a new kid on the block (which some say is the best investment LOL!). Anyway, like tstar has also said, my move over to JB also means I am still stretched, but there is a new stream of income from HDB rental that comes in handy to lighten a bit. In addition, it made possible to own additional two freehold property assets (or liabilities, depending on how one views them) in JB, compared to just keeping one HDB unit if I choose to stay in Singapore. Yes, in a way I am living dangerously, there are risks involved, whether I choose to buy JB or buy a bigger HDB, because we needed a bigger space. The risk free option is remain in same HDB for the reminder of our lives, and feel it getting smaller as kids grow bigger. So yeah, it's move to improve our family life, which hopefully works out well. No risk no gain, right? :p

 

[xebay11]

For the benefits of all here, could you please share your brilliant back up plan?

He never invest in risky property so why need back up plan?

As for those that did, the backup plan should be to dump and cut losses now and reinvest in other places to make back or take it as a lesson learned.

So don't blame anyone for negative criticisms, there are solutions, just whether people here want to listen or not.

 

[xebay11]

As tstar has spoken for me (thanks bro!), my HDB loan has a few thousand outstanding. Right now CPF also as good as kosong. As a single income earner with family, my resources have always been stretched, especially when there's a new kid on the block (which some say is the best investment LOL!). Anyway, like tstar has also said, my move over to JB also means I am still stretched, but there is a new stream of income from HDB rental that comes in handy to lighten a bit. In addition, it made possible to own additional two freehold property assets (or liabilities, depending on how one views them) in JB, compared to just keeping one HDB unit if I choose to stay in Singapore. Yes, in a way I am living dangerously, there are risks involved, whether I choose to buy JB or buy a bigger HDB, because we needed a bigger space. The risk free option is remain in same HDB for the reminder of our lives, and feel it getting smaller as kids grow bigger. So yeah, it's move to improve our family life, which hopefully works out well. No risk no gain, right? :p

Your path is still long ahead, have you thought about how your children are to socialize and go out at night? Go to university or poly later? I am interested to know because my son has told me he flatly would not move to Johor.

 

[xebay11]

http://www.news.com.au/finance/real...y/news-story/1c1ccd51cf863393eb24fe45542ed269

The Chinese prefer US, Canada and OZ and know value when they see it, cementing my decision to buy in Melbourne, most livable place to live 5 years in a row.

That is my backup plan, anyone listening? Or just say I give negative criticisms.

No money to buy in Melbourne? By all means live in Johor, just that no need to buy, rental will do. Situation in Malaysia is volatile.

 

[Manhattan]

Take a broader perspective about your backup plan. It's not just about the houses and loans. I would suggest buy enough personal insurance since you are the sole bread winner and rides a bike, you know what I mean. I got a bike too but for leisure, so I know we live on the edge every time we go on the road. Make sure everything is covered if something happens, i would think at least sgd 1 mil coverage. The premium is about sgd 50 per month, worth every cent.

 

[Tekkun]

http://www.news.com.au/finance/real...y/news-story/1c1ccd51cf863393eb24fe45542ed269

The Chinese prefer US, Canada and OZ and know value when they see it, cementing my decision to buy in Melbourne, most livable place to live 5 years in a row.

That is my backup plan, anyone listening? Or just say I give negative criticisms.

No money to buy in Melbourne? By all means live in Johor, just that no need to buy, rental will do. Situation in Malaysia is volatile.

Xebay11, you got money, you have no problems. For many who are not rich enough, they have problems. How many are as rich as you are?
So it is essential they review what they had committed. Whether it is refinancing, cut one to retain another or make arrangements to smoothen cash flow, it is up to them. Don't lah just criticise, instead give suggestions to them. Isn't this the noble cause of this forum?

 

[Tekkun]

Take a broader perspective about your backup plan. It's not just about the houses and loans. I would suggest buy enough personal insurance since you are the sole bread winner and rides a bike, you know what I mean. I got a bike too but for leisure, so I know we live on the edge every time we go on the road. Make sure everything is covered if something happens, i would think at least sgd 1 mil coverage. The premium is about sgd 50 per month, worth every cent.

That's the purpose of MRTA. I am not supertitious but practical.

 

[xebay11]

Xebay11, you got money, you have no problems. For many who are not rich enough, they have problems. How many are as rich as you are?
So it is essential they review what they had committed. Whether it is refinancing, cut one to retain another or make arrangements to smoothen cash flow, it is up to them. Don't lah just criticise, instead give suggestions to them. Isn't this the noble cause of this forum?

You think I don't know? That's why I write from a common man's point of view and advise them to be prudent and not anyhow throw money into risky investments. I understand the pain of losing one's life savings in bad decisions.

No money, don't buy property, save the money and consider safer investments or just rent in Johor, the whole thought of having to call a property your own is an emotional one and sometimes not rational.

Just one or two posts ago I had suggested the very same actions that you have, if they cannot take the heat, dump now and just cut losses. I am not one to criticize and not suggest alternatives. In fact my repeated posts of renting in Johor is a positive suggestion and I keep repeating and yet people saying I only know how to criticize.

 

[jasonjst]

As tstar has spoken for me (thanks bro!), my HDB loan has a few thousand outstanding. Right now CPF also as good as kosong. As a single income earner with family, my resources have always been stretched, especially when there's a new kid on the block (which some say is the best investment LOL!). Anyway, like tstar has also said, my move over to JB also means I am still stretched, but there is a new stream of income from HDB rental that comes in handy to lighten a bit. In addition, it made possible to own additional two freehold property assets (or liabilities, depending on how one views them) in JB, compared to just keeping one HDB unit if I choose to stay in Singapore. Yes, in a way I am living dangerously, there are risks involved, whether I choose to buy JB or buy a bigger HDB, because we needed a bigger space. The risk free option is remain in same HDB for the reminder of our lives, and feel it getting smaller as kids grow bigger. So yeah, it's move to improve our family life, which hopefully works out well. No risk no gain, right? :p

Don't worry Bro , you are in the best of both world . With PAP everything is possible , with Malaysia everything is Boleh , what more are we asking for ?

 

[jasonjst]

August 2016 – Imagine the wonderful moment when you’re newly married and the next moment, when you realized that you had overpaid by $2 million dollars for a property worth only $658,000. This was what happened to Adeline Tay, a 28 years old Singaporean working as a Senior Manager in Singtel.

Adeline claims that she is a first time homebuyer and has little time to do her research. Instead, she relies on her property agent to help her get her dream home. Unfortunately, the trusted property agent turns out to be the secret owner of the overpriced property that was being offloaded to her. Adeline is now thinking of pursuing legal actions to reverse the property purchase, which was completed end of last year.

Adeline only realize her mistake when she checked her new property’s valuation price using CrowdReport at CrowdTwo.com hoping that the valuation has increased, only to discover she had overpaid for her home by more than 3 times.

Her calls to the property agent went unanswered and shortly after, the mobile number was no longer in service. Adeline added that when she visits the property agent’s office, the people there inform her that this person has quit the industry and has gone overseas.

“Even my relationship with my husband was badly strained and we hardly talk nowadays. We are considering a divorce.”, Adeline added, “If only I had done my homework and find out the price of the property before making the purchase, I wouldn’t have been in this situation. Perhaps if I have never heard of CrowdTwo.com and remain ignorant, life would have been much more blissful for me.”

True or not ?

 

[Frodo]

Take a broader perspective about your backup plan. It's not just about the houses and loans. I would suggest buy enough personal insurance since you are the sole bread winner and rides a bike, you know what I mean. I got a bike too but for leisure, so I know we live on the edge every time we go on the road. Make sure everything is covered if something happens, i would think at least sgd 1 mil coverage. The premium is about sgd 50 per month, worth every cent.

Thanks for the advice. I am modestly covered under SAFRA Group Term Insurance for about $600K with $100K critical illness. Probably you will gasp in horror that it is so low but this covers the MY loans if I am covered on the road (hope not :(). Will upgrade it to the max when family budget improves. My peasant life is worth more dead than alive. LOL!

 

[Frodo]

Don't worry Bro , you are in the best of both world . With PAP everything is possible , with Malaysia everything is Boleh , what more are we asking for ?

Hahaha! I hope so! Thanks bro!

 

[xebay11]

August 2016 – Imagine the wonderful moment when you’re newly married and the next moment, when you realized that you had overpaid by $2 million dollars for a property worth only $658,000. This was what happened to Adeline Tay, a 28 years old Singaporean working as a Senior Manager in Singtel.

Adeline claims that she is a first time homebuyer and has little time to do her research. Instead, she relies on her property agent to help her get her dream home. Unfortunately, the trusted property agent turns out to be the secret owner of the overpriced property that was being offloaded to her. Adeline is now thinking of pursuing legal actions to reverse the property purchase, which was completed end of last year.

Adeline only realize her mistake when she checked her new property’s valuation price using CrowdReport at CrowdTwo.com hoping that the valuation has increased, only to discover she had overpaid for her home by more than 3 times.

Her calls to the property agent went unanswered and shortly after, the mobile number was no longer in service. Adeline added that when she visits the property agent’s office, the people there inform her that this person has quit the industry and has gone overseas.

“Even my relationship with my husband was badly strained and we hardly talk nowadays. We are considering a divorce.”, Adeline added, “If only I had done my homework and find out the price of the property before making the purchase, I wouldn’t have been in this situation. Perhaps if I have never heard of CrowdTwo.com and remain ignorant, life would have been much more blissful for me.”

True or not ?

Where was the property located?

 

[Tekkun]

August 2016 – Imagine the wonderful moment when you’re newly married and the next moment, when you realized that you had overpaid by $2 million dollars for a property worth only $658,000. This was what happened to Adeline Tay, a 28 years old Singaporean working as a Senior Manager in Singtel.

Adeline claims that she is a first time homebuyer and has little time to do her research. Instead, she relies on her property agent to help her get her dream home. Unfortunately, the trusted property agent turns out to be the secret owner of the overpriced property that was being offloaded to her. Adeline is now thinking of pursuing legal actions to reverse the property purchase, which was completed end of last year.

Adeline only realize her mistake when she checked her new property’s valuation price using CrowdReport at CrowdTwo.com hoping that the valuation has increased, only to discover she had overpaid for her home by more than 3 times.

Her calls to the property agent went unanswered and shortly after, the mobile number was no longer in service. Adeline added that when she visits the property agent’s office, the people there inform her that this person has quit the industry and has gone overseas.

“Even my relationship with my husband was badly strained and we hardly talk nowadays. We are considering a divorce.”, Adeline added, “If only I had done my homework and find out the price of the property before making the purchase, I wouldn’t have been in this situation. Perhaps if I have never heard of CrowdTwo.com and remain ignorant, life would have been much more blissful for me.”

True or not ?

28 year old can buy S$2.6m condo. She must be paid very well to qualitfy for loan.

 

[Frodo]

You think I don't know? That's why I write from a common man's point of view and advise them to be prudent and not anyhow throw money into risky investments. I understand the pain of losing one's life savings in bad decisions.

No money, don't buy property, save the money and consider safer investments or just rent in Johor, the whole thought of having to call a property your own is an emotional one and sometimes not rational.

Just one or two posts ago I had suggested the very same actions that you have, if they cannot take the heat, dump now and just cut losses. I am not one to criticize and not suggest alternatives. In fact my repeated posts of renting in Johor is a positive suggestion and I keep repeating and yet people saying I only know how to criticize.

While renting in JB is a viable option that you advocate, but it seems you would only stay in JB hotels on weekends? Indeed owning a property is very much an emotional reason, the psychology of it is just different, which we have talked about before. Singaporeans will still dump money in to own a car at exorbitant COE prices even though the money-wise option would be to take public transport or maybe even rent with Tribecar or something similar. Humans are strange creatures, not very Spockish at all. LOL!

Before I moved over to Johor I was very ignorant of the JB property scene, other than that it would be crazy to buy a house there and commute to work daily across the Causeway. But having been around for a couple of years, if there is an option for fellow peasants like me, it would be that they can buy a JB condo for investment, but with a twist. They can buy a JB condo and rent out their entire HDB, such that the HDB becomes the investment and the JB condo their new home. Of course this option would not appeal or work for many, but perhaps it can work for some. There would be tradeoffs, but each person can evaluate and see for himself if he can handle it. Or he can do a hybrid model, rent for a while and buy later if it works out.

 

[xebay11]

28 year old can buy S$2.6m condo. She must be paid very well to qualitfy for loan.

At 28, not money but time is your asset.

 

[xebay11]

While renting in JB is a viable option that you advocate, but it seems you would only stay in JB hotels on weekends? Indeed owning a property is very much an emotional reason, the psychology of it is just different, which we have talked about before. Singaporeans will still dump money in to own a car at exorbitant COE prices even though the money-wise option would be to take public transport or maybe even rent with Tribecar or something similar. Humans are strange creatures, not very Spockish at all. LOL!

Before I moved over to Johor I was very ignorant of the JB property scene, other than that it would be crazy to buy a house there and commute to work daily across the Causeway. But having been around for a couple of years, if there is an option for fellow peasants like me, it would be that they can buy a JB condo for investment, but with a twist. They can buy a JB condo and rent out their entire HDB, such that the HDB becomes the investment and the JB condo their new home. Of course this option would not appeal or work for many, but perhaps it can work for some. There would be tradeoffs, but each person can evaluate and see for himself if he can handle it. Or he can do a hybrid model, rent for a while and buy later if it works out.

Think of it this way, if rent out HDB and can rent Johor property at less than what you pay for installments wouldn't you have more disposable cash to spend? So this is more financially sound if just talking dollars and cents.

And that is my strategy, by forgoing buying in Johor this strategy is leaving me with money to invest elsewhere like OZ, or for down to earth people, more disposable money in the pockets

 

[Frodo]

Think of it this way, if rent out HDB and can rent Johor property at less than what you pay for installments wouldn't you have more disposable cash to spend? So this is more financially sound if just talking dollars and cents.

But if it is a long term move to JB, then buying one would mean one can sell it in future, if no profit also means can get back some residual or scrap value. But since property value tend to rise, in the longer term still possible to earn something from the JB condo. Besides, living in your own JB condo means you can do what you like with it to your own taste. The wife would like it.