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Property bubble to burst soon
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WLBO_BB
Master |
02-Apr-2010 08:09
Yells: "Warren Look Before Others _ Buffett Best " |
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sound familar...heehee.... anyway i tin got to plus a maid, car also.... personally i am unable to save much but my wife still manage to save around $500 per mth... in long run, am abit worry for my children education fees thus no choice but to "seah hai" to play shares myself, rather playing fees to those so call fund manager....
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Livermore
Master |
02-Apr-2010 00:15
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A combined salary of $10k is not much for a young couple if you buy a property worth $700k and if you want 2 children. You aren't going to save much | ||||
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yummygd
Supreme |
01-Apr-2010 23:51
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i am fine with PR coming to singapore they wanna be permanant residents i welcome them...but what i cant understand is why the HDB earning ceilling cap is still peg at 8k (for new flat n hdb loans)Its been this amount since forever and come on now the flats are all getting more ex even the new ones. so how can they expect the people earning slightly more den 8 k can afford to pay for anything??Condo small unit 1 mil liao. 5 room flat over 500k .new flat can go as high as 280 290 k. count yourself lor. how is it possible to remain that price???Dun tell me EC cause EC who can afford now???600k new siao. I say time to revise and up the earning cap. our money value is decreasing at an alarming rate. those who used to earn 8 k had a very luxurious life...now earn 8 k just enough to cover day to day expense. OKIE. |
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Salute
Master |
01-Apr-2010 23:32
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Don't think this will work. First, we knew very well that it's said that if you are not happy, you may just leave(migrant). Who said it, you should know by heart. Second, there are so many new immigrants(PRs who like here, why not, higher pay than home, less competition-like in big country-china.), plus certain amt of poor and certain amt of rich who have been benefitting and no complaints. So the percentage of influencial citizen has shranked ........and you can imagine the weight of influence by them(citizenry!!)
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Salute
Master |
01-Apr-2010 23:14
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that's why I said the foreigners come here to jerk up the price and govt just kept reminding us not to offer high cash but they allow those rich PRs to buy HDB, pretending that they don't know the cause of the recent record breaking HDB price, how ironic. Govt is able to do something if they want, so many things have been proven already. Just like the COE, announced that it would be increased by next month, it immediately happened the next month. If it cares about us, it may simply regulate that these are for middle class to stay and not more than certain cash above value is allowed. instead of asking we not to offer higher cash, those were offered by PR(not we). Well, well, am not govt, may be am too simple in thinking. not to forget, nowadays a 4 room hdb's price is like the small apt/condo in the past, therefore I believe the young graduates have difficulty in affording ideal accomdation as before. think the different of $300k and $550k.............sigh!!
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Salute
Master |
01-Apr-2010 22:46
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whao, didn't have time to check this site for only 1 day. Just realized how much I miss all the anger we the citizens of Singapore have(the middle class, I suppose). hei, I like the hokkien vulgar word you used here, hardly heard nowadays. and as for Phao" Cheaployees ( a new slogan for this modern city). Do you know that everynight govt allows some homeless Chinachinese sleep in the underground crossway between the Esplanade park to Esplande opera house. I don't understand why for so long a time there wasn't police to arrest them. guess they have already make it their home--why not bigger than 6 room flat and all chicly marbled, no rental, no hassel(cum there is no police hasseling them).........such is a "good" way to look upon switzerland for an example(ever mentioned by our heads). Singapore is like montecarlo, attracting all the rich to jerk up the property price to an extend that we can't recognise anymore. Well, will spend the good friday to good through all the posts and have some laugh. haleluya!!! happy holiday!!!
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wishbone
Master |
01-Apr-2010 22:29
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In facts, many already know what is happening in the property market if not all in regard to the pricing. Need not have to "blah blah" here too much. THIS IS A PUBLIC FORUM. BE CAREFUL, DIE ALREADY ALSO DO NOT KNOW WHAT HAD HAPPENED!!!
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ar2ibrahim
Member |
01-Apr-2010 21:36
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Hi Knightrider, you are right prices are escalating at a fast and furious pace. Its like a game called "Musical Chairs". Just do not be caught in it without a chair. Good to know that you and your friends are making money in this market. I am however, moving at snails pace in the market. Like to buy and hold for rental return. | ||||
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niuyear
Supreme |
01-Apr-2010 18:18
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you are right, better dont 'bleh' too much, this is public forum, sensitive topic. Think better keep mouth shut! Tks for reminding. Wait i on the road also dunno how i die. LOL!
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Livermore
Master |
01-Apr-2010 17:48
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I have got lots to say but this being a public forum I shall just keep quiet |
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Luostock
Senior |
01-Apr-2010 16:53
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2nd generation PRs have to do NS ! So no escape unless they leave spore for good. | ||||
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fruitty
Senior |
01-Apr-2010 16:51
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When there's enough grateful PRs who can convert to citizens, they won't even bother to please the local-born citizens to get their votes. No enough citizens to be enlisted into NS? Nevermind, can import warriors from Nepal. | ||||
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niuyear
Supreme |
01-Apr-2010 16:24
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Being a PR in any country, is never a win-win situation. Since they want to become one country's PR, at the same time, retain their citizenship of their country of origin, they have to be financially sound in order to meet the great demand holding the PR status. A no of PR got married to PR and their kids do not need to serve NS!
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pharoah88
Supreme |
01-Apr-2010 16:23
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In TRULY COMPETITIVE OPEN SECTORS, PRICES can NEVER RISE. AND FOREVER FALLS. when SUPPLIES are NOT MANIPULATED AND SQUEEZED E.g. PCs; TVs; Consumer Electronics, Garments, FREEHOLD LANDED HOMES in JB
In MANIPULATED UNCOMPETITIVE TWISTED SECTORS, PRiCES WiLL SURGE when SUPPLIES are PURPOSELY RESTRICTED and DISTORTED. E.g. Properties, Land, COEs, Medicines,
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Luostock
Senior |
01-Apr-2010 16:07
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The problem will not be solved by banning Pr from buying as our country needs them bcos we do not produced enough babies (must think long term). It is the HDB. Last decade, HDB over-built, this time under-built, poor estimation. The 5% & 8% control is already a deterrent, if we are too unfriendly, we will lose out globally. The medical and educational cost for them and their children are going to be big deterrent esp medical. Some of them will become citizen to overcome these deterrents. Look at the COE, again poor statistical estimation. So let us hope HDB wake up, stop acting like private developer. |
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wishbone
Master |
01-Apr-2010 15:26
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Well Said in your last statement. May be should band the PR from buying out public HDB flat which is for the citizen. When LKS started HDB in the 1960's, it is meant for the Singaporeans. |
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tankuku
Master |
01-Apr-2010 14:10
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Our painful experience is that during the asia financial crisis, the property price had slump more than 25%. With the groble financial crisis it had ironically more up by more than 30%. I agree that it is really cause by the government who had control the land sale and building less new HDB flat that cause the demand to go up. May be should band the PR from buying out public HDB flat which is for the citizen. |
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Luostock
Senior |
01-Apr-2010 14:07
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Changing to a smaller unit does NOT mean downgrade. Old folks do not have the energy to clean a big unit. Smaller unit can be also tastefully comfortable. No rising valuation means losing to inflation as all other things will rise to about double the price in 10 yrs time. |
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pharoah88
Supreme |
01-Apr-2010 13:37
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In RETIREMENT, RETIREES should nOt dOwngrade STANDARD OF LIVING. RETIREES' HOMES should nOt be dOwngraded. RETIREES should LIVE in same HOMES till they LEAVE. RETIREES should LEAVE their HOMES as LEGACY. OWNER-OCCUPIED HOMES should not have RISING VALUATION and RISING PROPERTY TAX. AS HOMES are being WORN and TORN by the YEAR without RENTAL INCOME
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pharoah88
Supreme |
01-Apr-2010 13:30
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for PAST DECADES, it had been PROVEN. HiGHEST CAR PRiCES HiGHEST ROAD TAXES HiGHEST PETROL PRiCES HiGHEST INSURANCE COSTS HiGHEST ERP CHARGES HiGHEST COE PRiCES ALL DID NOT TERMINATE TRAFFIC JAMS AND POLLUTION. Is that a BROKEN PROMISE ?
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