-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Stuck with Property... TOP Coming... My Friend wants to Feed Tiger
- Thread starter Uncle2
- Start date
Was glacing through the classified section on Saturday and there was a lot of property asking for S$2000psf and above, especially those, at the development at Marina.
A quick calculation of a place of 1200sqft, would cost S$2.4million for a 99 years leasehold. Or paying rental of S$2000 per month for the next 99 years, that is not considering loan interest.
The more I look at it, we could be better off renting a place instead, at the very least there is no worry of retrenchments or loan to take on.
Let the pte property price collaspe.
LEt the PAP lose a whole lot of vote and teach them a harsh lesson in humanity in the next coming election !
Was having kopi with a friend yesterday and had a hard time consoling him. His new condo going TOP soon and needs $$ to pay. His wife has just lost her job recently and the bank only want to loan him 70% of the previously agreed amount. As the day for payment draws near.... he feels like buying a ticket to Mandai Zoo and feed white tiger there....
Damn pitiful. Dunno whether to lend him $$ or not?:(
I also got same problem when a friend ask me for friendly loan.. With a friendly smile, I said I had a bad patch with the horses and siammmm !!!
I also got same problem when a friend ask me for friendly loan.. With a friendly smile, I said I had a bad patch with the horses and siammmm !!!
Friendly loans can be a very expensive affair.
base on personal experience... i have $400k of cpf and still have a productive career ahead... so it is surprise to me...
base on personal experience... i have $400k of cpf and still have a productive career ahead... so it is surprise to me...
Good for you.
The bank previously agreed to loan him $900k based on market valuation. But last month the bank informed him that the market valuation of his condo has dropped to $780k and they are only willing to loan him 70%. Die die he must cough out $200k~300k cash to complete his purchase....
Siao liao....:(
KNN, got problem coming up with 200K-300K and yet got the cheek to buy a million dollar property. Don't let me see him in Hong Lim Park KPKB, will make sure he end up in the crocodile farm, this fucker don't deserve to be served by the white tiger.
Was having kopi with a friend yesterday and had a hard time consoling him. His new condo going TOP soon and needs $$ to pay. His wife has just lost her job recently and the bank only want to loan him 70% of the previously agreed amount. As the day for payment draws near.... he feels like buying a ticket to Mandai Zoo and feed white tiger there....
Damn pitiful. Dunno whether to lend him $$ or not?:(
PM me leh got lobang like this.
The trouble is buyers know this and in a downturn are not willing to pay more than cost. Think flippers and those who bought from sub-sales, will be worst hit.
"Friendly Loans" is an oxymoron.
Just spoke to a friend on the property situation. Understand from him that even his agent has advised him not to sell his property, if he can afford to, as the agent claims that the buyers are asking ridiculously low prices.
Not sure if it is sound advise at this point of time, but he has $$$ to "tong" maybe take loan, but less that 50% of property value.
That is why history always repeats itself, is because each generation never
learn from the past generation. The economic climate today is completely different from the 60s 70s and 80s. The boom and bust cycles are more acute now, the economic growth chart are more saw-tooth like, if you buy a house during a boom year, high chance of a recession in 2-3 years time
Friendships are almost always soured because of such loans. Ninety pecent of the time. And out of 10 times you do loan out, you can only get back the full amount 1 time.
2.4 million for 99 years??? are you sure or not? who so stupid to buy that?
it's best not to deal with friends when come to loans - difficult to keep the friendship when things turn sour. even with family members and relatives. best leave them alone!
yes its true.money creates probs
A few of my good frens are from P*#pNex and like to jio me lim kopi or guiness stout at coffeeshop. From our conversation, I gathered that the resale market has dipped and the private condo/house market has completely dried up! One of my high flying property agent fren said he used to close 8~12 deals a month during the boom last 2 years but only managed to close 1 deal in the past 2 months - & thats a HDB 4-rm pigeon hole!!
All my fren 'cry father cry mother' nowadays....
All my fren 'cry father cry mother' nowadays....
A few of my good frens are from P*#pNex and like to jio me lim kopi or guiness stout at coffeeshop. From our conversation, I gathered that the resale market has dipped and the private condo/house market has completely dried up! One of my high flying property agent fren said he used to close 8~12 deals a month during the boom last 2 years but only managed to close 1 deal in the past 2 months - & thats a HDB 4-rm pigeon hole!!
All my fren 'cry father cry mother' nowadays....
Your agents friend have made their money during the last 2 years. They had it good while it lasted.
I am sure the next round of good times is coming too, perhaps within the next 3 to 6 months, as the firesale of the century will begin, when property TOP and DPS kicks in. And at a time when banks are not willing to lend much, it will be good times again.
Similar threads
