Sinkies jin satki. 26k ppl seek to defer 20 billions of mortgages.

[micromachine]

Of the approved applications, close to three-quarters, or about 26,000, were for individuals seeking to defer their residential property loans.

This amounted to almost $20 billion of deferments, said SM Tharman.

Like that one person actually borrowed how much money?

More at https://www.straitstimes.com/singap...ns-to-defer-property-loan-repayments-approved

 

[jw5]

Of the approved applications, close to three-quarters, or about 26,000, were for individuals seeking to defer their residential property loans.

This amounted to almost $20 billion of deferments, said SM Tharman.

Like that one person actually borrowed how much money?

More at https://www.straitstimes.com/singap...ns-to-defer-property-loan-repayments-approved

20 billion divide by 20K is about 1 million each.

 

[Loofydralb]

MAS is setting a precedent in forming a bailout/liferaft to entities and individuals who should naturally go bust and then allow better ones to grow and replace them. Otherwise we will have an inbred/inbreeding ecosystem where the weak thrives. This is not good for the long term survival of the country as it weakens it structurally and these and others will see no need to strengthen, innovate and progress.

Those currently who are disciplined and restrained playing the slow and patient strategy with prudent and sensible fiscal policies is wrongly penalised.

Are we communists?

 

[knowwhatyouwantinlife]

Can't be hdb dwellers than since its an avg of 1 mil per applicant...when will sinkies realize property is always about location and value for size and stop overpaying?

 

[kaninabuchaojibye]

i congratulate those young people in 30s who take million dollar loans to buy condos. good luck and good bye!

 

[kaninabuchaojibye]

value won't drop that much
got to thank pap for signing rcep to reflood singapore with housing demand
its going to be super congested singapore in 10y time

 

[parrardee]

Those currently who are disciplined and restrained playing the slow and patient strategy with prudent and sensible fiscal policies is wrongly penalised.

Are we communists?

Those followed by is? Which Chinese helicopter jiuhu school did you attend, if you attended school at all.

 

[tanwahtiu]

The end is near. Financial Reset.

Of the approved applications, close to three-quarters, or about 26,000, were for individuals seeking to defer their residential property loans.

This amounted to almost $20 billion of deferments, said SM Tharman.

Like that one person actually borrowed how much money?

More at https://www.straitstimes.com/singap...ns-to-defer-property-loan-repayments-approved

 

[mojito]

MAS is setting a precedent in forming a bailout/liferaft to entities and individuals who should naturally go bust and then allow better ones to grow and replace them. Otherwise we will have an inbred/inbreeding ecosystem where the weak thrives. This is not good for the long term survival of the country as it weakens it structurally and these and others will see no need to strengthen, innovate and progress.

Those currently who are disciplined and restrained playing the slow and patient strategy with prudent and sensible fiscal policies is wrongly penalised.

Are we communists?

Moral hazard bro. May be is their own kakis in hot soup. Want save them property valuations else more kenna. See how duplicitous these free market fundamentalists are? Heads I win tails u lose!

 

[bushtucker]

Expect more bank sales to come as these loan defaulters couldn't pay up due to retrenchments.

 

[CPTMiller]

Of the approved applications, close to three-quarters, or about 26,000, were for individuals seeking to defer their residential property loans.

This amounted to almost $20 billion of deferments, said SM Tharman.

Like that one person actually borrowed how much money?

More at https://www.straitstimes.com/singap...ns-to-defer-property-loan-repayments-approved

Singapore property cannot be cheap.
Easily owe a few millions

 

[Askinator]

With that amount of debt something surely is going to crash… hope my assets of tech-companies won’t fall even further.

 

[batman1]

If the prices of property dropped,what will happen ?

 

[Boliao]

2020 news... with property jumping 26% in the last 2 years, they've made the right decision to hold on to their properties.

 

[countryman]

Can't be hdb dwellers than since its an avg of 1 mil per applicant...when will sinkies realize property is always about location and value for size and stop overpaying?

People paid 2000+psf for Pasir Ris condo...
Those agents must be Rofl....

 

[Hypocrite-The]

Property prices are still higher and r they better off than being renters?

 

[Betsycrant]

It seems that a new reset for the economy is coming. Debts are growing and are not going to stop doing it. The world is already in debt by itself for more than 3 trillions US dollars. Stock market is going to crash as the NFT and crypto market have already done… I cannot comprehend how people in their 20s and 30s can take big personal loans on themselves, when they have no money, investment, etc. They take advice from services like Mortgage Advice Cambridge and think they know anything in finance…