Save money now! SG property will crash 2013/14 say analysts

[johnny333]

Source please.

We all know that housing is not cheap in Spore. Many cannot pay without a loan & you now see many older unemployed Sporeans. Whose jobs do you think all those millions of foreigners are taking

For those lucky enough to have jobs, salaries have fallen.

 

[johnny333]

I heard there are a lot of housing agents who are holding on to up to 5/6 newly launched properties. They will be the first to die.

Not only housing agents, I know some people who are servicing loans for 2 homes & 2 cars

 

[GOD IS MY DOG]

I have $350,000 cash in my piggy bank now. And I want to buy a condo. So I wait for the property to crash 2 years from now! Quick crash! quick crash!

buy a condom 1st lah...........................condo is the most risky of all property since it's in the middle of hdb and landed homes................

use your 350k to start a part-time ah long business 1st lor....................

 

[karmabear]

I have $350,000 cash in my piggy bank now. And I want to buy a condo. So I wait for the property to crash 2 years from now! Quick crash! quick crash!

So how lian... post your bank statement online let us check real or not

 

[eErotica69]

We all know that housing is not cheap in Spore. Many cannot pay without a loan & you now see many older unemployed Sporeans. Whose jobs do you think all those millions of foreigners are taking

For those lucky enough to have jobs, salaries have fallen.

Your earlier point was "Many Sporeans are currently having trouble paying their mortgage now." when I asked you for the source that you make such a statement, you reply is above.

First you cannot substantiate your claim. Instead, you mention other issues like unemployment and high property prices!! Can you do a better job than this? Don't give us those ang moh crap here, i.e Cannot Convince others, just Confuse them

Back to my original questions, where did you get the source that you claim that many Singaporeans cannot pay their loans? Temesak Review? Dr Chee Newsletter? 3-1 Coffeeshop? TOC? Myanmar Times? Where is the source??

I read the Quarterly/Annual Statements of DBS, OCBC and UOB, their Non Performing Loans are low. I dunno where you get your source to make such a claim!! Keen to share?

One more question, where did you get that info about salaries have fallen? TR, TOC again?

:(

 

[eErotica69]

Sinkie Local Trashes have 25-30 year loans, you know????

If prices crash, these Sinkies will be finished
Maybe they will commit suicide and reduce their burden on the society

What an orgasmic situation!!!

You are only half correct.

Only those who are over-invested with high debt ratio will be affected, if the property price falls.

For those with low debt ratio, 25-30 year loan does not matter!!

 

[eErotica69]

values of both will drop..............rental will plunge even if you can still rent them out...........


.

You forgot to mention about the fixed cost, sinking cost maintenance cost, insurance, that is still incurred, regardless of whether there is rental income or not!

 

[johnny333]

First you cannot substantiate your claim. Instead, you mention other issues like unemployment and high property prices!! Can you do a better job than this? Don't give us those ang moh crap here, i.e Cannot Convince others, just Confuse them


:(

Let me guess, you voted PAP or work for the PAP
Have you forgotten about the tent city at East Coast & what happened to those people

If PAP & their supporters insist on taking a business as usual attitude, they can expect to lose more seats in the next election.

I'm not trying to convince anyone since I'm not running for office. However it is those in power who are trying to do a snow job on gulliuble Sporeans.

 

[Cranial Blowout]

I have $350,000 cash in my piggy bank now. And I want to buy a condo. So I wait for the property to crash 2 years from now! Quick crash! quick crash!

That's the bunny. You'll be laughing all the way to the 'piggy' bank.

 

[Cranial Blowout]

values of both will drop..............rental will plunge even if you can still rent them out...........



BUT WHEN GLOBAL GREAT DEPRESSION 2.0 comes............many many foreigners will have to leave S'pore.........while many locals can't finance their condos any longer..........

can you imagine how much property will plunge ???

this double whammy will see prices plunge by 40-50% if not more............

Property value will plunge. Renting should stay fairly stable in the lower to mid range properties.

 

[Rogue Trader]

One more question, where did you get that info about salaries have fallen? TR, TOC again?

:(

Dude, real income has definitely fallen. And those retrenched will never get their job back.

 

[Charlie258]

Not only housing agents, I know some people who are servicing loans for 2 homes & 2 cars

I am currently servicing loans for 5 homes and 0 car. Last week, wife wanted a Mercedes Benz. I told her to f**k off!

 

[johnny333]

I am currently servicing loans for 5 homes and 0 car. Last week, wife wanted a Mercedes Benz. I told her to f**k off!

Isn't it risky with the current economic situation

The people I know service a loan for only 1 to 2 properties at any one time. Once they can pay off the loans, they will then add another 1 or two. That's how some people did it in the past.

 

[ivebert]

This erection see many young voters who doesn't own house vote against PAP becos of high prices... Come next GE 2016... Property owners will vote against PAP for causing it to collapse...

It's a democratic society, you can't please everyone...

LOL

I bestow upon you the title

Top Mind Masturbator of the Week
(Category: 4th Generation South China Migrant Descendant aka Sinkie)

 

[Einfield]

If you own a house or 2, still paying loans, then you are not in a good situation.
If you own only 1 home that you are staying in, still paying loan, it doesn't matter much, just that your property will devalue too.
If you own a home fully paid up, good for you, sit tight and can consider picking up a 2nd property 2 years down the road.
If you are waiting to buy your 1st home, price may fall and more choices but once you sign your 30 years loan, you are in the same shit hole like the rest.

High end market will not fall that much, as they are not the HDB dweller or upgrades, it is the mass market and EC/HDB market that will be hit.

Another PAP failed policies, Just like their 2 is enough policy, which screw us so badly that they go full swing the opposite direction of opening the flood gate for FT to make up the loss population.

For property same shit, Asset enhancement lead to bubble then pull hand break and go into flooding the market with land for property development.

It is really scary when we let someone with no clue to fix a complex problem.
He totally miss the root cause, which is letting PR speculate on HBD.

 

[eErotica69]

Let me guess, you voted PAP or work for the PAP

Bro, have you ever figured out why you made the above assumption?

Firstly, let me tell you!! Wrong answer. If you have read my post during the GE, I am known to be a big fan of Nicole Seah and I live in MP GRC. I even said it openly that I voted for NSP. Go read those posts. Secondly I work in a regional financial institution and of course is not DBS!!!

You sound like a nice guy. But it seems to me that your hatred for PAP has make you view things in one-dimension. You please think what it means and why you are in this state of mind! Is that healthy?

Btw when I was questioning you on the source, I was just asking for facts!! You said about more people are not being able to pay their mortgage. But as a banker, I know otherwise. I don't just feel it, I see with my eyes and I read financial reports of banks. So I was just asking you the question.

You have to differentiate between opinion and facts.

 

[eErotica69]

Dude, real income has definitely fallen. And those retrenched will never get their job back.

Bro, both statements you made are correct!! But I don''t see how you link these 2 statements!

 

[eErotica69]

I am currently servicing loans for 5 homes and 0 car. Last week, wife wanted a Mercedes Benz. I told her to f**k off!

 

[eErotica69]

So how lian... post your bank statement online let us check real or not

But $350K in the bank is not a lot of money. Really nothing much to haolian. If he wanna haolian, he would have said $3.5 million!

 

[johnny333]

Bro, have you ever figured out why you made the above assumption?

Firstly, let me tell you!! Wrong answer. If you have read my post during the GE, I am known to be a big fan of Nicole Seah and I live in MP GRC. I even said it openly that I voted for NSP. Go read those posts. Secondly I work in a regional financial institution and of course is not DBS!!!

You sound like a nice guy. But it seems to me that your hatred for PAP has make you view things in one-dimension. You please think what it means and why you are in this state of mind! Is that healthy?

Btw when I was questioning you on the source, I was just asking for facts!! You said about more people are not being able to pay their mortgage. But as a banker, I know otherwise. I don't just feel it, I see with my eyes and I read financial reports of banks. So I was just asking you the question.

You have to differentiate between opinion and facts.

The PAP is telling us that Spore's economy is growing & there is low unemployment. Now you a self proclaimed banker are claiming Sporeans are not having problems paying off their mortgages. Have you by chance read:

http://www.transitioning.org/2010/04/28/singapore-homelessness-asia-calling/
http://theonlinecitizen.com/2010/07/how-should-i-help/
http://www.topix.com/forum/world/australia/TGU6AR8TTLH07J41S
http://forum.singaporeexpats.com/ftopic69303.html

These are just a few of the articals on homessness in Spore. If you are really interested, you can easily google more articals. Many Sporeans don't even make it into the statistics because they are realistic enough to know they can't afford the mortgage payments.


The PAP is of course relying on their facts. The same facts that they use to claim that Spore has low inflation. You as a bankerare probably relying on official statistics

Do you really expect people to believe a government with a proven track of massaging the data to mislead I'm critical of the Spore gov't because of what they've done. It's an opinion based on facts.