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Is HBD valuing its flats artificially high to prevent property bust?

2standards

Alfrescian
Loyal
Bank managers have quota to meet. :smile:

I don't understand how pple can buy a "premium class" HDB with 8k household income.. Assuming they buy it at 600k on average and say borrow 480k..the interest cost would be easily 200k over 25yr loan...the freakin banks will not hesitate to whack you with legal letters if you do not keep up with mortgage payments...fuckin banks are like vultures and will not hestitate to exterminate you if opportunity presents itself...i was fucked by a local bank over a mortgage refinancing 10 yrs old because i was not financially knowledgeable about such matters.
 

oli9

Alfrescian
Loyal
"depend on the govt for scraps" Since when are we a welfare state?

Our "GRACIOUS" govt is handing out Growth Dividends, transport & food vouchers. Niot forgetting we're paying a fraction for lift upgrading. The latest fad now is the Utilities voucher.
 

2standards

Alfrescian
Loyal
so welfare is giving crumps for political mileage to only later take back ten times more. Raise the prices by 20% so that we can justify giving you some discount. Nice strategy :smile:

Our "GRACIOUS" govt is handing out Growth Dividends, transport & food vouchers. Niot forgetting we're paying a fraction for lift upgrading. The latest fad now is the Utilities voucher.
 

0939

Alfrescian
Loyal
Our "GRACIOUS" govt is handing out Growth Dividends, transport & food vouchers. Niot forgetting we're paying a fraction for lift upgrading. The latest fad now is the Utilities voucher.

Stupid gahmen treating us like kids. Offering sweets after spanking us hard.
Eventually what they give will all go back to them.
 

DerekLeung

Alfrescian
Loyal
What we need to have to stop this is another AMERICAN REVOLUTION! We have to force the hell out of congress to shut down the federal reserve system NOW or else we the people are going to give these thieves a MEGA revolution!
 

2standards

Alfrescian
Loyal
Do you think this is Philippines - People Power or Tiannaman Sq?

What we need to have to stop this is another AMERICAN REVOLUTION! We have to force the hell out of congress to shut down the federal reserve system NOW or else we the people are going to give these thieves a MEGA revolution!
 

The_Latest_H

Alfrescian
Loyal
Bank managers have quota to meet. :smile:

And they might get their final pay cheque if banks go under because of excessive derivatives that cannot be paid by people of no credit, and is the overwhelming majority of assets that a bank has.

If these derivatives become bad debts overnight, these banks will be swimming underwater. But sadly, these banks aren't submarines.
 

DerekLeung

Alfrescian
Loyal
And they might get their final pay cheque if banks go under because of excessive derivatives that cannot be paid by people of no credit, and is the overwhelming majority of assets that a bank has.

If these derivatives become bad debts overnight, these banks will be swimming underwater. But sadly, these banks aren't submarines.
All they do now is follow America and print more money and dilute our money economy ! Leads to more hyper-inflation. More money in circulation means the value of our current dollar is worth less today than ever before!

A dollar only has it's worth with the hard work !
 

DerekLeung

Alfrescian
Loyal
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks...will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

... The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating. -Thomas Jefferson
 

DerekLeung

Alfrescian
Loyal
If you are middle-class and if you paying 600K up for an apartment !

You laterally selling your soul to the people who conspires to this outcome!
Whether directly or because that market price are free-falling and people's jobs are free-falling too. The price is fixed and variable at any point but people's jobs are not guaranteed.

Every 5-6 years, smart ones will dump and roll their money.
Those that are locked-into loans and binded by locked on durations and have to miss the break-away period when everyone are selling are in for a rude shock.
That they are never going to make the money that people are making .

The period when demands falls and can FTs help to hold the prices?
 

0939

Alfrescian
Loyal
Just like those fools who bought new cars with 100 per cent financing several years ago.
They cannot sell their cars unless they coughed up cash for the depreciation. Interests will kill them just like HDB flats that are more than 600k. Die die in the same shit hole.
 

congo9

Alfrescian
Loyal
Valuation is artifical kept high to prevent property BUST ! 600k for a place in the air ?????????????????????
 

2standards

Alfrescian
Loyal
CEOs of banks will still get their golden parachute if the banks fail. :smile:

And they might get their final pay cheque if banks go under because of excessive derivatives that cannot be paid by people of no credit, and is the overwhelming majority of assets that a bank has.

If these derivatives become bad debts overnight, these banks will be swimming underwater. But sadly, these banks aren't submarines.
 
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