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Serious Pap has over built liao now waiting to crash.

The_Hypocrite

Alfrescian (Inf)
Asset
The typical Singkies explanation is Singkieland so small n soo many ppl n everyone needs a place to live n there was a shortage not too long ago n many ppl want to come here sure got takers. Except alot of the new residents are 3rd world country ppl who do VB the jobs no Singkies want to do n alot of expats are cheap skates depending on their expat package to survive. So if the economy tank..Condos will be the 1st to go south n for the average Singkie the best bet is to stay HDB n minimise cost.
 

hbk75

Alfrescian
Loyal
The typical Singkies explanation is Singkieland so small n soo many ppl n everyone needs a place to live n there was a shortage not too long ago n many ppl want to come here sure got takers. Except alot of the new residents are 3rd world country ppl who do VB the jobs no Singkies want to do n alot of expats are cheap skates depending on their expat package to survive. So if the economy tank..Condos will be the 1st to go south n for the average Singkie the best bet is to stay HDB n minimise cost.

pap is so innovative. put in 3rd world cheap labour. then creating a property bubble by allowing cheap credit. banks willing to lend out just to earn abit of interest. imagine the amount of money they lend out. once liquidity drys out u see them running off like what happens in dubai. even sinkies ran away from debts at dubai in 2008. 3rd world talents in sinkapore will run even faster without any considerations. most is they dun ever transit flights or step into sinkapore.
 

hbk75

Alfrescian
Loyal
Cheap money has been around quite awhile and more so after 2001 when the IT bubble burst. People do not understand that technology advances are deflationary. After that US was in shit and started to play the game of property. Buy one property with no collateral and use that to buy the next one, buy cars with no interest payments, little or no downpayments. These are age old dirty tricks created to make you a permanent debt slave. In the meantime, corporations get to pump up their books to look pretty and pump the stockmarket prices. Oh, the wars? Well after you blow up a place flat, it needs to be rebuilt. And if you are the ruling invader there, you get to enslave that country into all kinds of debts. Why would Iraq need 170 M1s at 5 million USD a pop, which seem to get destroyed as easily as the T-72s?


alan greenspan started the cheap money but after it became not sustainable. it crashed in 2008 and bernanke and yellen took the cheap money further to delay the issues. they exported all the printed money to asia and drives the property bubble. now trump wanna get investments back into usa. if the money flows back and will cause inflation and fed will be forced to hike rates a few times. then sinkies will die cock stand liao.
 

johnny333

Alfrescian (Inf)
Asset
A perfect storm for the end of the PAP rule:confused:

Many Sporeans have been retrenched & if interest rate goes up many are going to lose their homes b. They can't even sell their homes & get $$ because of the over supply of homes out there.

Sporeans are going to blame someone for their woes & maybe that is why LHL is looking for a seat warmer:wink:
 

numero uno

Alfrescian
Loyal
A perfect storm for the end of the PAP rule:confused:

Many Sporeans have been retrenched & if interest rate goes up many are going to lose their homes b. They can't even sell their homes & get $$ because of the over supply of homes out there.

Sporeans are going to blame someone for their woes & maybe that is why LHL is looking for a seat warmer:wink:

What's new? I predicted this perfect storm 2 years ago in this forum. Now the outlook is worse than I expected with trump and xi screwing up sinkieland. What we have here is low class FT who are rejects. True talent would go USA or Australia easily. The mess is all due to miw pandering to the property agents and property bigwigs who are basically selfish and only looking after their interest and not the country interest at all. I know all these bigwigs already have escape plans like second passports and homes in USA and Europe Aust to run road at first sign of trouble. There is no talent here like Google or Facebook or even elon musk to propel the economy forward for the next 5 years. All the economy is based on the crap asset enhancement which is flawed as it only enrich the bigwigs. The ill effect s of high rental etc is now being felt. I don't see any thing positive out of this except a bigger irreversible crash soon. When Mbs sands want to sell off their casino complex means they see Something worrisome in the future.
And when the pm who is forever positive now telling us to moderate our expectations to GDP growth of 1-2 % as normal forever means a very bleak picture ahead. More so with China building the billion dollar ports in Malaysia Malacca and east coast and kra canal means doomsday here.
 
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EnBloc

Alfrescian
Loyal
Government can control housing market to a large extent through various measures.

There will some short term volatility during crises, for example, during the Lehman saga.

In the long run, they can announce Sers in old estates like Jalan Batu, and move them to Bayshore.

Many other old estates will be affected by Sers and move to occupy the new ones
 

hbk75

Alfrescian
Loyal
A perfect storm for the end of the PAP rule:confused:

Many Sporeans have been retrenched & if interest rate goes up many are going to lose their homes b. They can't even sell their homes & get $$ because of the over supply of homes out there.

Sporeans are going to blame someone for their woes & maybe that is why LHL is looking for a seat warmer:wink:

u go drive around and see. how many buildings are actually empty. even ghim moh bto selling at 600k a pop has been empty since 2013. but pap refuses to lower the prices because pinky thought that the flats are made of gold. keep very long still got takers. when rates hike up, even lelong also no buyers because people will be waiting to buy those empty new units.
 

hbk75

Alfrescian
Loyal
Government can control housing market to a large extent through various measures.

There will some short term volatility during crises, for example, during the Lehman saga.

In the long run, they can announce Sers in old estates like Jalan Batu, and move them to Bayshore.

Many other old estates will be affected by Sers and move to occupy the new ones

there are limits to what pap can do. they thought that the free money last forever. how many buyers recently ever heard of sibor at 8.5% in jun 1998? they were all expecting free money to last forever.
 

hbk75

Alfrescian
Loyal
What's new? I predicted this perfect storm 2 years ago in this forum. Now the outlook is worse than I expected with trump and xi screwing up sinkieland. What we have here is low class FT who are rejects. True talent would go USA or Australia easily. The mess is all due to miw pandering to the property agents and property bigwigs who are basically selfish and only looking after their interest and not the country interest at all. I know all these bigwigs already have escape plans like second passports and homes in USA and Europe Aust to run road at first sign of trouble. There is no talent here like Google or Facebook or even elon musk to propel the economy forward for the next 5 years. All the economy is based on the crap asset enhancement which is flawed as it only enrich the bigwigs. The ill effect s of high rental etc is now being felt. I don't see any thing positive out of this except a bigger irreversible crash soon. When Mbs sands want to sell off their casino complex means they see Something worrisome in the future.
And when the pm who is forever positive now telling us to moderate our expectations to GDP growth of 1-2 % as normal forever means a very bleak picture ahead. More so with China building the billion dollar ports in Malaysia Malacca and east coast and kra canal means doomsday here.

pap ministars are just basically doing the same things over and over again for 50 years. just basically ripped money off sinkies by selling expensive HDBs and coes. 1998 era sinkapore still can tahan because people had lesser debts then. now all basically comes with 4-500k of housing debts per household.
 

mojito

Alfrescian
Loyal
A perfect storm for the end of the PAP rule:confused:

Many Sporeans have been retrenched & if interest rate goes up many are going to lose their homes b. They can't even sell their homes & get $$ because of the over supply of homes out there.

Sporeans are going to blame someone for their woes & maybe that is why LHL is looking for a seat warmer:wink:

No storm sir. It all sunshine and rainbows. Birds are chirping joyously and white fluffy clouds dancing merrily across the sky. Dun be a downer. Stay positive. :smile:
 

Bigfuck

Alfrescian (Inf)
Asset
pap ministars are just basically doing the same things over and over again for 50 years. just basically ripped money off sinkies by selling expensive HDBs and coes. 1998 era sinkapore still can tahan because people had lesser debts then. now all basically comes with 4-500k of housing debts per household.

But the developed world has run almost its full course for the property bubble.
 

JohnTan

Alfrescian (InfP)
Generous Asset
pap ministars are just basically doing the same things over and over again for 50 years. just basically ripped money off sinkies by selling expensive HDBs and coes. 1998 era sinkapore still can tahan because people had lesser debts then. now all basically comes with 4-500k of housing debts per household.

Most sinkies are able to service their HDB flats with their joint cpf deductions. So what's the issue here?
 

JohnTan

Alfrescian (InfP)
Generous Asset
when u are jobless pap will help u top up cpf?

PAP does help sinkies top up cpf, especially medisave account, which all sinkies will use.

Vast majority of sinkies aren't jobless. Most of us have held onto our PMET jobs, or at least changed from one job to another with comparable pay for the past few decades. It's far better than what many AMDK countries are experiencing, notably the PIIGS countries. Most towkays like myself are also doing fine. We have weathered many recessions well under PAP and have thrived.
 

hbk75

Alfrescian
Loyal
PAP does help sinkies top up cpf, especially medisave account, which all sinkies will use.

Vast majority of sinkies aren't jobless. Most of us have held onto our PMET jobs, or at least changed from one job to another with comparable pay for the past few decades. It's far better than what many AMDK countries are experiencing, notably the PIIGS countries. Most towkays like myself are also doing fine. We have weathered many recessions well under PAP and have thrived.

medisave account can use for hdb mortgage payment? pap has inflated the bubble too big liao. now waiting for it to explode.
 

JohnTan

Alfrescian (InfP)
Generous Asset
medisave account can use for hdb mortgage payment? pap has inflated the bubble too big liao. now waiting for it to explode.

Most sinkies make huge profits on their BTOs on the free resale market. Duxton is a solid example. Most sinkies who bought Duxton BTO made easily $500k profit on paper. Those who sold and moved to less popular areas probably pocketed around $300-$400k cash after settling costs of relocating and mortgage loans.

So if there is a bubble, it's caused by sinkies who think that paying $300-400k on a HDB flat in central district to be steal.
 
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