Property flippers peeing in their pants ........

[Spiky]

People who have little money and buy private properties to flip will be in huge trouble soon.

Bankruptcy lists in the Strait Times will get longer and longer.

More will lose their jobs, cannot make mortgage payments. Bank will revalue their properties downward and get borrowers to top-up.
Cannot top-up, banks more than happy to get borrowers to liquidate and take over property.

Asset-rich people will get poorer. Cash-rich people will get richer.

But I doubt there are many cash-rich people. With deposit rates at sub 1%, most people parked their money in stocks, properties, businesses etc

This recycling is really good for the world. It weeds out the weak, rewards the strong. Natural selection process at its best.

 

[bullfrog]

If prices are falling, banks will not repo. They will try to arrange for the borrowers to pay up at least the interest. It makes more sense. If banks repo, they will have properties whose value are falling on their hands, so at risk. Any banks desperate to repo will also sell off quickly. Those looking for fire sale props stand to gain. In this respect, you are right. Cash-rich buggers will get richer.

People who have little money and buy private properties to flip will be in huge trouble soon.

Bankruptcy lists in the Strait Times will get longer and longer.

More will lose their jobs, cannot make mortgage payments. Bank will revalue their properties downward and get borrowers to top-up.
Cannot top-up, banks more than happy to get borrowers to liquidate and take over property.

Asset-rich people will get poorer. Cash-rich people will get richer.

But I doubt there are many cash-rich people. With deposit rates at sub 1%, most people parked their money in stocks, properties, businesses etc

This recycling is really good for the world. It weeds out the weak, rewards the strong. Natural selection process at its best.

 

[Loofydralb]

Please do not wake them from the slumber yet. The effect is best when they find themselves suddenly homeless and pitching tents at ECP.

No.......the economy is rosy.......interest rates will remain low for the next 10 years................property prices will continue to boom.

Don't disturb their sweet dreams.

 

[singveld]

l love to see these speculator lose their condos.

 

[ballsathome]

The Cow will say "I do".

 

[borom]

An estimated S$18 billion was wiped out from the Singapore stock market on Friday as the key index dived nearly 4%....Many analysts forecast further declines of up to 10 percent, and the STI to hit 2,500.........the markets will suffer up to three weeks of pain before the rout ends...........

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1145335/1/.html

With a little "help" from the stock market perhaps.
The pappy appears unwilling to let property prices drop or reduce their FT intake.
I hope most of those burnt are FT's or the 60%.

 

[halsey02]

The Cow will say "I do".

and The Cow will jump over the moon..