Singaporeans are a nation of debts.

[hbk75]

I was quite surprised about the amount of housing debts accumulated by the average sinkies these days. I've personally seen many sinkies earning 3-4k with 400k of housing debts. 10 years ago or maybe even the last peak during 1996, sinkies earning 3-4k do not even have housing debts of 400k. in 1998, 400k can get you a 4 rm private condo.

This housing bubble was supposed to correct in 2008 during the subprime but it was being delayed by fed reserve QE 1, 2, operation twist, 3 and the low rates. Masking what that was supposed to be un-affordable seems affordable by keeping the rates low. The bubble started in 2006 under marlboro tan and has been on going for nearly 10 years, when the time comes it will be quite scary.

Now we are starting to see capital outflow from asia.

http://qz.com/519253/china-just-upe...ned-the-global-economy-for-the-last-30-years/

 

[eatshitndie]

I was quite surprised about the amount of housing debts accumulated by the average sinkies these days. I've personally seen many sinkies earning 3-4k with 400k of housing debts. 10 years ago or maybe even the last peak during 1996, sinkies earning 3-4k do not even have housing debts of 400k. in 1998, 400k can get you a 4 rm private condo.

This housing bubble was supposed to correct in 2008 during the subprime but it was being delayed by fed reserve QE 1, 2, operation twist, 3 and the low rates. Masking what that was supposed to be un-affordable seems affordable by keeping the rates low. The bubble started in 2006 under marlboro tan and has been on going for nearly 10 years, when the time comes it will be quite scary.

Now we are starting to see capital outflow from asia.

http://qz.com/519253/china-just-upe...ned-the-global-economy-for-the-last-30-years/

worse in the bay area. techies making us$120k a year are taking on us$1.2m worth of debt, especially in home mortgages.

 

[laksaboy]

Debt is bondage and slavery. Shakespeare tried to warn us of Shylock's moneylending, but oh that is so 'anti-semitic'.

 

[hbk75]

worse in the bay area. techies making us$120k a year are taking on us$1.2m worth of debt, especially in home mortgages.

us houses after 2008 still so expensive meh?

 

[johnny333]

worse in the bay area. techies making us$120k a year are taking on us$1.2m worth of debt, especially in home mortgages.

Many Sporeans are earning less & taking a similar amount of debt. They also voted for a Shylock gov't

 

[frenchbriefs]

debt is perfectly ok even in large quantities as long as u have a healthy economy and people have jobs and means to pay off their debt consistently.but in a recession and rise of interest rate,thats when all things go to hell.

thats called a business cycle

wherein the housing market resets itself,daft and stupid sinkies jump into the reserviour and theres a abundant amount of cheap and valuable real estate for the smart money to swoop in and pick it up.

 

[hbk75]

debt is perfectly ok even in large quantities as long as u have a healthy economy and people have jobs and means to pay off their debt consistently.but in a recession and rise of interest rate,thats when all things go to hell.

thats called a business cycle

wherein the housing market resets itself,daft and stupid sinkies jump into the reserviour and theres a abundant amount of cheap and valuable real estate for the smart money to swoop in and pick it up.

how to have healthy economy for 30 years in a row. economy cycles are once every 7 years these days.

 

[eatshitndie]

us houses after 2008 still so expensive meh?

http://www.sammyboy.com/showthread.php?181491-real-estate-market-in-the-bay-area

 

[eatshitndie]

Many Sporeans are earning less & taking a similar amount of debt. They also voted for a Shylock gov't

69.86% is a super majority.

 

[frenchbriefs]

Debt is bondage and slavery. Shakespeare tried to warn us of Shylock's moneylending, but oh that is so 'anti-semitic'.

shakespeare should have read robert kiyosaki's rich dad poor dad.70 percent daft estupido sinkies are poor dads who choose to work for money,seek out safe and stable jobs,think their houses and huge mortgages are assets and accumulate massive debt and liabilities to feed the system.

 

[harimau]

You can always declare bankruptcy and pay back slowly!

No hurry the financial system is a fiction which came out of men's silly brains!

Debts is an illusion! This is how the rich enslaves the poor!

Don't be a fool and let money run your life!

 

[hbk75]

i kinda of pity those fools who buy pap story and started buying $1000 psf at pasir ris and ulu locations.

 

[melzp]

how could these be happenning when mighty wealthy is in charge?
It it the society and culture at fault ?

 

[jw5]

The mighty wealthy need people to lend money to, so that they can become wealthier. Of course, not directly.

how could these be happenning when mighty wealthy is in charge?
It it the society and culture at fault ?

 

[Tehtarik]

The mighty wealthy need people to lend money to, so that they can become wealthier. Of course, not directly.

69% votes for this so dun complain

 

[Rogue Trader]

worse in the bay area. techies making us$120k a year are taking on us$1.2m worth of debt, especially in home mortgages.

They got themselves a freehold fixed asset right?