If you know all this already, why start a thread with the title "ARe property prices too high?" Is this not mindless, childish and unnecessary? Your words exactly.
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Are property prices too high now ?
- Thread starter Relako
- Start date
If you know all this already, why start a thread with the title "ARe property prices too high?" Is this not mindless, childish and unnecessary? Your words exactly.
We can lose so much money investing in dubious investments but we can't put more money in welfare to help the poor.
Medical costs can cripple many unfortunate families. A case of kidney failure can wipe out all the savings painstakingly accumulated from a person's life work.
Most fund managers in sovereign wealth funds don't add up to dog-shit. What do fund managers do ? They read analysts' reports and take a punt.
I have absolutely no respect for buy-and-hold fund managers. I have more respect for quant traders, relative-value arbitrageurs and mean-reversion traders. At least they put in the brains and analysis into their work.
Elitism is a dangerous concept. Elitism breeds arrogance and lack of awareness of the sentiments in the ground and the population masses.
When I read about how arrogant and SOB the students from elite schools are, I cringe at their myopic mindset. They probably haven't seen the world. My frds from RI and RJC were children of taxi drivers. They are smart and down-to-earth and humble.
If arrogant scholars were to occupy most of the key positions in govt, I worry for our future. I worry for our legacy we leave behind to our descendants.
Most govt scholars cannot complete two sentences without offending someone.
Pride goes before a fall.
I worry for our future.
Medical costs can cripple many unfortunate families. A case of kidney failure can wipe out all the savings painstakingly accumulated from a person's life work.
Most fund managers in sovereign wealth funds don't add up to dog-shit. What do fund managers do ? They read analysts' reports and take a punt.
I have absolutely no respect for buy-and-hold fund managers. I have more respect for quant traders, relative-value arbitrageurs and mean-reversion traders. At least they put in the brains and analysis into their work.
Elitism is a dangerous concept. Elitism breeds arrogance and lack of awareness of the sentiments in the ground and the population masses.
When I read about how arrogant and SOB the students from elite schools are, I cringe at their myopic mindset. They probably haven't seen the world. My frds from RI and RJC were children of taxi drivers. They are smart and down-to-earth and humble.
If arrogant scholars were to occupy most of the key positions in govt, I worry for our future. I worry for our legacy we leave behind to our descendants.
Most govt scholars cannot complete two sentences without offending someone.
Pride goes before a fall.
I worry for our future.
U are talking about paying $220K for a 3 roomer somewhere out in the boons. U don't think this is bad? You use one example of the cheapest flat in the most unwanted location, and you say its not bad. Is $220k the normal price that a family can pay? If that is the normal price than there willbe no talk of housing bubbles and what not. Or is the typical price closer to my example? Don't use this kind of example when you want to debate this topic. If every flat was priced at $220k both new and resale regardless of size, than I say you have a valid point. Otherwise, your fantasy flat hardly qualifies as a typical example.
By the way, if you have to know. the $220K flat that you refer to probably cost the HDB close to $30K to build in the 70s, and sold for not more than that. Today this flat probably cost close to $50K to build but now the HDB sells for $220K.
I am about to conclude a property purchase. I need some views.
If you have cogent and elegant arguments, I am open to suggestions.
But you are too deep for me. Therefore, I have resigned to fate and will continue to live out my moronic and pathetic existence.
Your constant reminder of my mindlessness, childishness and futility is absolutely necessary. You are my psychological thermostat. You assist in regulating me so that I will not be arrogant like the elite pricks that our govt is fond of employing.
Therefore, I thank you again.
Papsmearer, you are my rudder, my compass, my enlightenment. Thank you so much.
We are now in the "future" and have many of these "talented" scholars running the show.
With the billions of $$$$ lost without any regrets I doubt there will be anything left by the time LKY ups the lorry.
I hope that happens sooner than latter because it'll be up to the next generation to re-build Spore & they can't begin until "true" change takes place at the very top.
What were you doing 5 years ago and what are you doing now? The same little?
5 years later when we ask you the same question we are sure we will get the same answer.
Hmmm random pseudo-crystal ball guesses aside for anyone I dislike he or she could be as proud as I could really care, but his or her fall is only considered a fall when it is seen with my own eyes.
Seeing is believing.
However I am willing to make a concession if I could get the news of his or her fall from a reliable source. :p
as long as mbt is around, it consider as cheap as him..... Hahahahah
they will tell you to go malaysia and stay if you cannot afford their pigeon holes......
they will tell you to go malaysia and stay if you cannot afford their pigeon holes......
wah, so humble. :o:p
HDB parlance is 4rm flat (yes you are correct it is 3bd room). 30 years ago your $50K flat was also in the boon docks. 40 years ago hot fav Bishan was a cemetery - in fact when built, many wondered who would live on top of a cemetery! Toa Payoh was a major swamp. Fast forward to today, Bishan and Toa payoh are considered HDB prime.
So likewise, 30 years from now Sengkang will be the same.
I think that $220K is pretty affordable and well priced for a city nation like Singapore. $200K loan comes to $1K a month in payment.. I think husband and wife taking home $3K a month will have more then enough CPF to cover. Remember that HDB is for 80% of pop not just for the poor. So we have many young couple that are taking home $3K combined a month after working for 4 to 5 years.
Of course that $1K a month would be peanuts if you fast forward 15 years.
There has been a lot of talk about Singaporeans being choosy about their flats. MBT is correct, there is ok supply but people are choosy. However, people should be choosy given that is a long term investment. I think one of the problem is the differentiation between the lower floors and the higher floors. Lets say a 2nd floor 4rm flat in Sengkang goes for $200K and the highest floor goes for $250K. The problem is that there is not enough incentive for one to choose the lower floor. Now if pricing were such that HDB prices the top floors at $280K ($30K more) and then use this $30K to subsidize the 2nd floor units and sell them for $170 ($200K - $30K), I am sure people would be less choosy given the diff in prices.
Also, please use facts. Today's HDB flat DOES NOT COST $50K to build. Just go check the public tenders. HDB pays about $130K to $160K to build each flat. Public tenders and $$ goes to private contractors so THIS IS A FACT.
"Today this flat probably cost close to $50K to build but now the HDB sells for $220K"
So likewise, 30 years from now Sengkang will be the same.
I think that $220K is pretty affordable and well priced for a city nation like Singapore. $200K loan comes to $1K a month in payment.. I think husband and wife taking home $3K a month will have more then enough CPF to cover. Remember that HDB is for 80% of pop not just for the poor. So we have many young couple that are taking home $3K combined a month after working for 4 to 5 years.
Of course that $1K a month would be peanuts if you fast forward 15 years.
There has been a lot of talk about Singaporeans being choosy about their flats. MBT is correct, there is ok supply but people are choosy. However, people should be choosy given that is a long term investment. I think one of the problem is the differentiation between the lower floors and the higher floors. Lets say a 2nd floor 4rm flat in Sengkang goes for $200K and the highest floor goes for $250K. The problem is that there is not enough incentive for one to choose the lower floor. Now if pricing were such that HDB prices the top floors at $280K ($30K more) and then use this $30K to subsidize the 2nd floor units and sell them for $170 ($200K - $30K), I am sure people would be less choosy given the diff in prices.
Also, please use facts. Today's HDB flat DOES NOT COST $50K to build. Just go check the public tenders. HDB pays about $130K to $160K to build each flat. Public tenders and $$ goes to private contractors so THIS IS A FACT.
"Today this flat probably cost close to $50K to build but now the HDB sells for $220K"
So you are about to conclude a property purchase and decided you need some views? Isn't it too late now? Shouldn't you be seeking views BEFORE making the purchase? If you want total strangers here on this forum to reinforce and validate your purchasing decision, than no amount of my enlightenment can help you, and there is something seriously wrong with you.
If everyone told you yes, the price is too high. What will you do, back out of the deal?
I put money where my mouth is. To be honest, I can wait for the right buy, but I dont expect prices to go down to yesteryears bygone days prices.
Property cycles go boom and bust due to bubbles, but over sufficiently longer cycles, will appreciate even if at glacial speeds. All properties have appreciated since 30 yrs ago. As long as land is scarece in S'pore, prices will keep going north.Why are you so hung up on 99 yr leases and tenants status? It doesnt matter because people still sell, and people still buy, so obviously there's still a resale market, or it would have vaporise long ago.
Greed and fear will always govern any market. I'm a bit greedy now; and you're fearful. That's what keep prices going. The only stopper will be govt policies that can kill the markets, and you know the PAP will not do that as that is a basic tenet.
Property cycles go boom and bust due to bubbles, but over sufficiently longer cycles, will appreciate even if at glacial speeds. All properties have appreciated since 30 yrs ago. As long as land is scarece in S'pore, prices will keep going north.Why are you so hung up on 99 yr leases and tenants status? It doesnt matter because people still sell, and people still buy, so obviously there's still a resale market, or it would have vaporise long ago.
Greed and fear will always govern any market. I'm a bit greedy now; and you're fearful. That's what keep prices going. The only stopper will be govt policies that can kill the markets, and you know the PAP will not do that as that is a basic tenet.
Property prices are so cb high now my salary simply cannot keep up with it.
Alamak, want to buy a three-room hdb flat also very 'chuan' lo. Need to come out with 300 hundred $$ to buy. 
Yes. Not gloating but those who have been talking down the market, praying and hoping for a crash can go one corner suck thumb. Price dip also smell no smoke.
These people still not aware of how pap operates....as long as they are in power it is in their interests to prop up property prices.
Talk so much also no use. Jump in or regret.
Peanuts is 600000 only.
Early days yet. From now til 2015 more than 200, 000 new homes will be ready for occupation. Come and talk in 2016.
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