View Full Version : New Round of Cooling Measures...
is inevitable, says Colin Tan. the new bear.
Cooling measures inevitable
by Colin Tan
04:45 AM Aug 03, 2012
With suburban housing prices hitting new highs, markets awash
with liquidity and banks introducing longer home loan tenors, I
believe it is inevitable that another round of cooling measures
will be introduced simply to keep potential price increases in
check.
In my commentary in Today last week ("Is the glass half empty
or half full?" July 27), I said you could choose to interpret the
findings of the Credit Suisse inaugural survey on home buying
negatively or positively.
Looking at more of the numbers, some 47 per cent of those
polled in the bank's proprietary survey believed that homes here
will cost more within the next year, with almost three in 10
predicting price increases of up to 10 per cent.
Just as many believed that the opposite is true: A significant 35
per cent of respondents expected prices to fall within the next 12
months.
Interestingly, six in 10 predicted another round of cooling
measures. Assuming all 35 per cent who believed prices would
correct within the year fall into this category, this leaves another
25 per cent whom I interpret as those who believed that yet
another round of cooling measures would be necessary simply
to keep prices stable.
This week's release of resale price indices for completed
apartments by the National University of Singapore's Institute of
Real Estate Studies supports this last opinion. Although some of
the media focused on the 1.4 per cent fall in prices of small
apartments in June compared to those in the previous month,
the real story for me was the second successive new high for
apartments located in suburban areas.
The sub-index for non-central apartments excluding shoeboxes
had been trending downwards for some months - with
fluctuations - before bottoming out in February. Since then, it
has staged a recovery, reaching new highs in May and June. It
had risen by 1.9 per cent in May and by 0.7 per cent in June, the
latter number being the latest flash estimate.
This indicates strong pressure on prices for completed units to
rise.
Are the effects of the cooling measures introduced in December
wearing off? I believe this to be so. This is where I share the
opinion that it is inevitable that there will be another round of
cooling measures.
While cooling measures may be viewed negatively by
developers, they have helped ensure price stability. A stable
environment has actually allowed buyers to come out in droves.
Price stability encourages genuine upgrading. Selling your
existing property to buy another need not be done hurriedly.
Prices would not run away. And if they are not falling, it means
you need not wait for a better deal.
Speculators are the only group who will lose out in such an
environment because they see no reason to participate in the
market. Then again, there is no actual loss, only the loss of an
opportunity to make more money.
Finally, as a caveat to all would-be investors, I would like to say
I cannot see the robust buying continuing indefinitely. It may be
prolonged by changes in the local market and in the global
environment, as in our current situation.
Increasingly, more of the buying rests on low interest rates and
less on fundamentals. What happens when there is a sharp hike
in rates? Seven years of feasting may be followed by seven
years of famine. It is best that we build our defences early, even
as we play the game or are forced to play the game.
Colin Tan is Head of Research and Consultancy at Chesterton
Suntec International.
phantom_opera
03-08-12, 21:45
this snake has 2 heads :p
say might as well not say....all these commentators, every time say the same thing....i can also write my own property column lor....
This forum was discussing about another round of CM very long time ago.
I didnt know he roti prata also. lost respect liao...
Fence sitting articles always bore me.
if you read his article carefully, he's not even making a point. it's like saying 'prices will go up, but prices will go down....you play the game, or you will be forced to play the game....you can buy, but you also can wait...there is supply, but there is also demand...,prices have stabilized but there will also be a need for more stabilization...'
wah lau eh. seriously? pls la. something more intelligent pls.
willing seller willing buyer..why need cooling measure;)
if you read his article carefully, he's not even making a point. it's like saying 'prices will go up, but prices will go down....you play the game, or you will be forced to play the game....you can buy, but you also can wait...there is supply, but there is also demand...,prices have stabilized but there will also be a need for more stabilization...'
wah lau eh. seriously? pls la. something more intelligent pls.
The sun will rise from the east but will also set in the west...
I discovered most writers write articles that sit on the fence for investing.
Either way it is right and they can brag about it later on (taking the paragraph that was right and put into a slide).
I discovered most writers write articles that sit on the fence for investing.
Either way it is right and they can brag about it later on (taking the paragraph that was right and put into a slide).
in this aspect i actually respect Mr B. more! at least he stays true to his own opinions and doesn't change tack! haha
Nouriel Roubini, Marc Faber, and a couple of other guys aren't fence sitter.
This forum was discussing about another round of CM very long time ago.
this forum is like a tape recorder on REPEAT MODE...:D
in this aspect i actually respect Mr B. more! at least he stays true to his own opinions and doesn't change tack! haha
he is like the OPPOSITION party...:eek:
UltimateAro888
04-08-12, 09:05
有讲好像没讲，到不如不讲。in hokien....
"Cooling" tan is wrong to assume that the effect of previous CM is wearing off. Same as the other writer that saying flipping property is possible. Nowaday property speculators are pretty much out of the market. People buying property now is to keep it for long term. If another CM is coming, who they are really targeting?. Must be a true blue singaporean who genuinely trying to own a piece of singapore. That's defeat the purpose of CM to keep the singaporeans in and foreigners out. Now more singaporeans are buying and less for foreigners. Unfortunately many less well off singaporeans now prefer property price to collapse. In my opinion the price distance between HDB and PC must be substantial. Or else people who can ill afford it will be tempted to bite more than they can chew.
Eat and shit at the same place.
:47:
Red eye syndrome. see more n more pple buy condo stay condo also want ...
in this aspect i actually respect Mr B. more! at least he stays true to his own opinions and doesn't change tack! haha
Talk about MISSED THE BOAT EXPERT cum YOUNG KOK cum INEXPERIENCE MR B?
You mean the one who change from "Now".. to 1-2 months.. and again to 6-mths.. to 1-2 yrs.. lan lan think cannot make it.. better put before 2015.. hopefully his "fast coming down" can make it this time round.. :D
in this aspect i actually respect Mr B. more! at least he stays true to his own opinions and doesn't change tack! haha
Conviction :- When you say the same thing over and over again until it becomes true. :)
I liked him .. He gives a balanced view to the forum.
It means:
1) why they didn't cool the HDB prices that 90% population need to live in & MND didn't do enough to cool HDB prices? Otherwise how to explain Tiong Bahru HDB flats of say 1100sqft selling at $800+k? that is about $800 psf! :doh:
2) instead of putting full effort into cooling HDB prices, they keep talking about cooling measures for private properties that only affect 10% of the population?
I am wondering if they think HDB dwellers not important? :p
"Cooling" tan is wrong to assume that the effect of previous CM is wearing off. Same as the other writer that saying flipping property is possible. Nowaday property speculators are pretty much out of the market. People buying property now is to keep it for long term. If another CM is coming, who they are really targeting?. Must be a true blue singaporean who genuinely trying to own a piece of singapore. That's defeat the purpose of CM to keep the singaporeans in and foreigners out. Now more singaporeans are buying and less for foreigners. Unfortunately many less well off singaporeans now prefer property price to collapse. In my opinion the price distance between HDB and PC must be substantial. Or else people who can ill afford it will be tempted to bite more than they can chew.
1 IC can only buy 1 property and 1 address can only register 1 vehicle. :D
All excess vehicles and properties must be disposed within 6 months or else become govt property with zero compensation. :rolleyes:
Nouriel Roubini, Marc Faber, and a couple of other guys aren't fence sitter.
Roubibi is worse than fence sitter.
"unlike Brnarke, who has to navigate through unchartered waters, he has the luxury of sitting in his cozy office in the university campus, and writing articles to the New York Times, while collecting a very decent pay check every month from the US government"
(I copied some statement meant for another guy)
I discovered most writers write articles that sit on the fence for investing.
Either way it is right and they can brag about it later on (taking the paragraph that was right and put into a slide).
General Paper taught in A Levels emphasized the importance of sitting on fence.....
In summary, can make a stand but cannot be too bias.... and make some disclaimer so that the article still relevant even if shit happens.
in this aspect i actually respect Mr B. more! at least he stays true to his own opinions and doesn't change tack! haha
I seldom reply in this forum. He doesn't deserve any respect at all, he just a nonsense selfish rotten to the core shit. He's trying to talk down the market, that's all. Super desperate and calling any reply liar and moron. Forumers knows.
I liked him .. He gives a balanced view to the forum.
What you meant was "he gives an extreme bearish view... balancing against the other bullish views..:D
What you meant was "he gives an extreme bearish view... balancing against the other bullish views..:D
RIGHT... :) lol..
Balanced my bull and bear side.
I seldom reply in this forum. He doesn't deserve any respect at all, he just a nonsense selfish rotten to the core shit. He's trying to talk down the market, that's all. Super desperate and calling any reply liar and moron. Forumers knows.
why i agree that mr b is quite an extremist in giving worst-case scenarios, my point is that at least he has a point of view that he defends till his end of life...you know, that conviction is somewhat inspiring, like Chee Soon Juan or JB Jeyaratnam. at least he's not being afraid of controversial so that people will start evaluating and think critically - whether we agree or disagree. compared to fence-sitter columnists, i feel that they aren't making any point and hence might as well not comment.
it's always a professional thing to give a balanced point of view, but that doesn't mean that one simply waste publishing space rehashing what everyone else is saying or already know. i can say something like "up or down, it's anybody's guess, but the downside risks are much higher than upside risks..." or "CMs is highly unlikely given the current dampened foreigned demand, but who knows, another round is also likely should the government decide to be populist to enable citizens to achieve their aspirations before the next GE...". Hello, all of us can be property commentators lor. :doh:
why i agree that mr b is quite an extremist in giving worst-case scenarios, my point is that at least he has a point of view that he defends till his end of life...you know, that conviction is somewhat inspiring, like Chee Soon Juan or JB Jeyaratnam. at least he's not being afraid of controversial so that people will start evaluating and think critically - whether we agree or disagree. compared to fence-sitter columnists, i feel that they aren't making any point and hence might as well not comment.
it's always a professional thing to give a balanced point of view, but that doesn't mean that one simply waste publishing space rehashing what everyone else is saying or already know. i can say something like "up or down, it's anybody's guess, but the downside risks are much higher than upside risks..." or "CMs is highly unlikely given the current dampened foreigned demand, but who knows, another round is also likely should the government decide to be populist to enable citizens to achieve their aspirations before the next GE...". Hello, all of us can be property commentators lor. :doh:
His cautionary statement may imply that the world as a whole has alot of problem. But emotionally charge when proven that he may not be right cause further anxiety.
And hence the strong out burst to alway be right and not look dumb. After all he has facts from the internet ..:banghead: :doh: :beats-me-man: which is always lace with "insights"
So he continue to cut and paste . Maybe he is moderating the prices with the forum cooling Measure ?:scared-2:
General Paper taught in A Levels emphasized the importance of sitting on fence.....
In summary, can make a stand but cannot be too bias.... and make some disclaimer so that the article still relevant even if shit happens.
Great! A nation of fence sitters... :)
Housing price has lagged behind inflation this year, why need to cool?
ikan bilis
05-08-12, 13:46
Housing price has lagged behind inflation this year, why need to cool?
aiyo... cooling measures mainly to cool all the heat towards the govt... :D
Everytime I see this.. I gek sim.. and kan cheong....
Gek Sim 'coz it seems the rich are no longer native singaporeans, but most likely naturalised singaporeans.
Kan Cheong 'coz if they keep coming in droves.. the property prices esp. for landed... I want to quickly buy a landed now ..but i scared prices are too high now.
At Meyer Neighbour Committee(Meyer NC), my beloved MP, is all smiled he managed to sell some Singapore flags for National Day.
Actual Quote from facebook.
The Meyer NC managed to sell 60 flags to residents staying in the Meyer estate today
Please look at the composition of the helpers.. looks NRI to me.
https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-ash3/540375_471510002868256_460007211_n.jpg
meyer road all high class indians...but seriously high low class all the same....NO class...:simmering:
meyer road all high class indians...but seriously high low class all the same....NO class...:simmering:
I hope you don't mis-interpret my message.
I dont despise NRIs.
I am just highlighting the foreigners are rich.
Just happens the NRIs loved Meyer area.
But you seem to despise them alot.. Why?
I hope you don't mis-interpret my message.
I dont despise NRIs.
I am just highlighting the foreigners are rich.
Just happens the NRIs loved Meyer area.
But you seem to despise them alot.. Why?
i got my own issues....thats why i sold my previous condo...they are loud/inconsiderate/rude/no hygiene/thick skin...the list goes on..
yup i know i am indian but of a different kind i am SPORE indian...
Born in KK....serve BMT in tekong...that kind of indian.....:)
i got my own issues....thats why i sold my previous condo...they are loud/inconsiderate/rude/no hygiene/thick skin...the list goes on..
yup i know i am indian but of a different kind i am SPORE indian...
Born in KK....serve BMT in tekong...that kind of indian.....:)
Ok.. Just take it easy. :)
i got my own issues....thats why i sold my previous condo...they are loud/inconsiderate/rude/no hygiene/thick skin...the list goes on..
yup i know i am indian but of a different kind i am SPORE indian...
Born in KK....serve BMT in tekong...that kind of indian.....:)
Do you go little india or Tekka often?
Do you go little india or Tekka often?
Mustaafa...
Ok.. Just take it easy. :)
No issues i have accepted that this is part of any world class economy
...i guess my feeling is kinda like how some:D chinese sporeans feel about
Mainland chinaman....:D
aiyo... cooling measures mainly to cool all the heat towards the govt... :D
Like that those bought over the last 2 years will be angry too, either way they lose. Best I think is stability in pricing..
ikan bilis
05-08-12, 21:47
Like that those bought over the last 2 years will be angry too, either way they lose. Best I think is stability in pricing..
so... we got to be careful & watch out a bit... when they cannot solve high coe problems, mrt break down problems, employment problems, hdb shortage problems... may be they will come whack private properties instead... haha....
that toy-bear at orchard toyrus will be interested to hear this....
:D
phantom_opera
05-08-12, 22:54
CM5.5 ... Khaw said 50y bank loan is gimmick and he very sure prudent and guai guai Singaporeans will not think they can buy 5r HDB flat with that 50y loan
but he openly admitted should build even more BTOs to match last few years of DEFICIT ... one word to rule them all :p
http://www.straitstimes.com/breaking-news/singapore/story/khaw-advises-singaporeans-against-taking-50-year-housing-loans
Read the not very friendly comments below ... quite true also :p
Allthepies
05-08-12, 23:03
50 years loan is good if u know wat u r doing.
few hold it for 10 yrs much less 50
few hold it for 10 yrs much less 50
actually, i think there will indeed be folks who will hang on for 50 years... just that these folks may not be as financially aware as you and other gurus are. some of the more traditional folks who see housing as really a home will really buy and stay for the rest of their lives.. more applicable to older generations than the new generations though. :p
phantom_opera
06-08-12, 12:00
I quoted comment from ST by a guy calld Lai... very brutal and dun give face but it is true
=========================================================
Hello Khaw, U really talk Cxcx! Continue with current trend of price increase in HDB or private, it will become very soon a norm for 50 years loan. Not because we want, BUT because our meagre salary cannot keep pace with price increase. 20 years ago a NTU fresh graduate (Engr) starting pay about 2.1K now just reported the same Engr fresh grad starting pay about 2.8K. BUT 20 years ago a 5 room HDB about 100K. Now? Ask yourselve how much is that same pigeon hole cost? 500K? 600K? Com'mon lah don't cry crocodile tears lah! Do something concrete to soften the price.
I quoted comment from ST by a guy calld Lai... very brutal and dun give face but it is true
=========================================================
instead of just looking one sided to cool prices, maybe garmen should look the other way and also try to improve wage levels.
sometimes, it's not just about cutting expenses but raising income levels could be equally or even more important.. small thrift can make one rich, but think big and you will be truly well off.
for me, i seldom look at my spending... all i know is i need to earn more than i spend. :D
phantom_opera
06-08-12, 12:08
instead of just looking one sided to cool prices, maybe garmen should look the other way and also try to improve wage levels.
sometimes, it's not just about cutting expenses but raising income levels could be equally or even more important.. small thrift can make one rich, but think big and you will be truly well off.
for me, i seldom look at my spending... all i know is i need to earn more than i spend. :D
it is true that loose immigration policy depression starting pay ... just check out CBP foodcourt during lunch on weekdays
it is true that loose immigration policy depression starting pay ... just check out CBP foodcourt during lunch on weekdays
garmen needs to do another round of evolution for our SG workforce. just like we used to be in primary and secondary industries 30 years back, we have evolved to be more tertiary industries in the recent decade. garmen needs to continue moving sgeans into higher value work (provided we are equipped for it) and get our foreign talents to cover more of the void left behind.
problem seems to be that sgeans are slowly losing our edge in competitiveness. is it something our education system needs to address or is it a consequence of our sinkapoor culture? :(
we used to be renowened for having a hardworking and intelligent workforce. now, it appears more and more of the new generation are getting lazier and finds it beyond themselves to work hard. instead, they prefer to idle and eat snake. much like spanish siestas and italian coffeebreaks, our workforce seems to lack the bite to take up the fight. maybe we have been too cuddled by our forefathers. :beats-me-man:
actually, i think there will indeed be folks who will hang on for 50 years... just that these folks may not be as financially aware as you and other gurus are. some of the more traditional folks who see housing as really a home will really buy and stay for the rest of their lives.. more applicable to older generations than the new generations though. :p
those type of folks u mention, will take 50 year loan but slog to pay off in 10 years. and then 'celebrate' their success. i know coz my parents are one of those... traditional risk averse types.
instead of just looking one sided to cool prices, maybe garmen should look the other way and also try to improve wage levels.
sometimes, it's not just about cutting expenses but raising income levels could be equally or even more important.. small thrift can make one rich, but think big and you will be truly well off.
for me, i seldom look at my spending... all i know is i need to earn more than i spend. :D
impossible. we don't all work for the gahmen. so what if govt can increase wage recommendations. they don't run the MNCs etc.
we used to be renowened for having a hardworking and intelligent workforce. now, it appears more and more of the new generation are getting lazier and finds it beyond themselves to work hard. instead, they prefer to idle and eat snake. much like spanish siestas and italian coffeebreaks, our workforce seems to lack the bite to take up the fight. maybe we have been too cuddled by our forefathers. :beats-me-man:
I'm guilty... i much prefer to shake legs and be a LL (landlord) then slog for unfair inconsiderate bitchy assholes with big job titles...
phantom_opera
06-08-12, 14:58
impossible. we don't all work for the gahmen. so what if govt can increase wage recommendations. they don't run the MNCs etc.
Initially they bring in Malaysians who ok to accept 10% lower salary, then they bring in Vitnamese and Chinese and Pinoys who willing to accept 20% lower, then they bring in Indians who cannot make it to US at 30% cheaper, then now Burmese who accept 40% lower
Now u know why starting pay still below 3k after 15y? :p
phantom_opera
06-08-12, 15:01
Actually let me tell u ... Singaporeans / SPRs are not lazy, just lacking of first class leaders because all the potential leaders all recruited by PAP ... even the Temasek run companies normally the leaders come from public sector
We do have a leadership problem for home grown SMEs ... MNCs of course we need to import foreign talent
All these are ok but importing Burmese, Viet, Pinoys, Indians to compete with graduates IMO is suicidal politically and not sustainable over the long run although it is good for LL like carbuncle
Already, depressed starting pay vs inflated HDB resale price is a BIG ISSUE ... starting pay does not match inflation ... this makes it harder and harder for graduates to climb the social ladder to own good properties .... yes you can get cheap BTO but only in ulu place far from MRT ... next time sell / rent out also poor yield/return
And for the sandwiched class 10-12k ... you ask them to buy ulu EC ... come on ... these people are professionals who has the potential to reach 20k in a few years time ...:beats-me-man: No wonder MM at good location is so popular lah
Actually let me tell u ... Singaporeans / SPRs are not lazy, just lacking of first class leaders because all the potential leaders all recruited by PAP ... even the Temasek run companies normally the leaders come from public sector
We do have a leadership problem for home grown SMEs ... MNCs of course we need to import foreign talent
All these are ok but importing Burmese, Viet, Pinoys, Indians to compete with graduates IMO is suicidal politically and not sustainable over the long run although it is good for LL like carbuncle
Already, depressed starting pay vs inflated HDB resale price is a BIG ISSUE ... starting pay does not match inflation ... this makes it harder and harder for graduates to climb the social ladder to own properties
That's why to mitigate the risk, be a LL....
meanwhile...
lemme surf on to www.careers.gov.sg - if you can't beat them join them... this is SINGAPORE CITIZEN privilege to work in civil service. i orady applied for some... in the spirit of HAPPY NATIONAL DAY. Remember, I LOVE SINGAPORE!
phantom_opera
06-08-12, 15:09
Let me device phantom rules again:
If the immigration policy continues and starting pay continues to be depressed,
continue to hoard your HDB near MRT, never sell it as ICA will continue to bring in tenants for you and new BTOs will become more ulu and ulu so your current HDB at mature estate near MRT is going to command more and more premium over time even when lease running less and less ... just rent out for 70y is more worth than selling it
If garmen continues to release ulu ECs, continue to hoard your MM/1br near MRT, inspired 10-12k sandwiched class will buy or rent from u
Only consider selling your MM/1br near MRT when family median income for those staying in condo divide by 10 equals to the selling psf, take into consideration COE prices .. if COE > 100k, don't sell ;)
;)
This is the SEC rule that you're devising...
Singapore Economy in-a Capsule (SEC)
So perusing your formula... *now* is a good time to sell or not?? A bit of a conflicted stage aint it.
phantom_opera
06-08-12, 15:18
This is the SEC rule that you're devising...
Singapore Economy in-a Capsule (SEC)
So perusing your formula... *now* is a good time to sell or not?? A bit of a conflicted stage aint it.
Why sell now? Remember jlrx ... property is meant to bought and never sell :p
Seriously, from the body language of Khaw/Mah and PAP, they are trying very hard to persuade people to accept non mature estate and away from MRT .. what does that tell u?
Why sell now? Remember jlrx ... property is meant to bought and never sell :p
Seriously, from the body language of Khaw/Mah and PAP, they are trying very hard to persuade people to accept non mature estate and away from MRT .. what does that tell u?
NO MORE MATURED LAND FOR US lor
impossible. we don't all work for the gahmen. so what if govt can increase wage recommendations. they don't run the MNCs etc.
no lah, but garmen policy can influence the type of economy orientation that will eventually attract the right mix of corporations.. juz like how we transitioned from secondary to tertiary industries over decades. garmen needs to position itself to be able to better attract these MNCs plus train our sgeans to be able to match the skillsets and expertise required.
of cos, very utopian thinking to believe it can be replicated. but i think our current garmen machiam lost the foresight advantage that our forefathers possessed in the past. sigh...
those type of folks u mention, will take 50 year loan but slog to pay off in 10 years. and then 'celebrate' their success. i know coz my parents are one of those... traditional risk averse types.
some folks slog all their lives but still can't do well enough to be able to pay off their housing loans fast. juz look at the lower income bracket workers.. their income levels have not increased much over the past decade as opposed to the middle or higher income workers. sad. :(
I'm guilty... i much prefer to shake legs and be a LL (landlord) then slog for unfair inconsiderate bitchy assholes with big job titles...
different leh. u are still contributing to real economy via being a ll. u benefit the garmen (GLS), the developers, the banks, the agents and our SG long term vision (renting out to meet increased population demand!).. anyway u are in an enviable position that many rat race hamsters (like me) will rather switch roles with. :D
it's those folks who's sitting on their jobs but not contributing that's :doh: ..
phantom_opera
06-08-12, 16:09
some folks slog all their lives but still can't do well enough to be able to pay off their housing loans fast. juz look at the lower income bracket workers.. their income levels have not increased much over the past decade as opposed to the middle or higher income workers. sad. :(
One example is people who is good in networking or telco starting pay 2.3k .. then over 10y they reach 5-6k range, then they cannot move up or get retrenched because networking is perceived to be low value add, infra, commodities .... IMO, the garmen should focus on helping these groups of people to be retrained and move up the value chain instead of keeping hiring low cost alternatives from everywhere
Why I know because I have read many of such resumes :p
very big words... but I only know we managed to transition from Secondary education of most to Tertiary hahahaha
bro phantom... r u in Telecom or infocomm ind? but hor guess u dun wanna employ me too... u may hv seen my cv hahaahhaaha
One example is people who is good in networking or telco starting pay 2.3k .. then over 10y they reach 5-6k range, then they cannot move up or get retrenched because networking is perceived to be low value add, infra, commodities .... IMO, the garmen should focus on helping these groups of people to be retrained and move up the value chain instead of keeping hiring low cost alternatives from everywhere
Why I know because I have read many of such resumes :p
gotch.. our dear garmen keeps emphasizing re-training our older workers... in 2009 also released the famed Resilence Package. but i dun think the re-training was very effective nor useful though. :confused: :scared-4:
our dear garmen needs to be more pro-active in planning rather than being reactive in every single thing! :rolleyes:
One example is people who is good in networking or telco starting pay 2.3k .. then over 10y they reach 5-6k range, then they cannot move up or get retrenched because networking is perceived to be low value add, infra, commodities .... IMO, the garmen should focus on helping these groups of people to be retrained and move up the value chain instead of keeping hiring low cost alternatives from everywhere
Why I know because I have read many of such resumes :p
tat's exactly the point.. certain industries produces a lot of churn (where experience counts for little and cutting edge freshness is more sought after).. how many older workers can reinvent themselves to meet such needs (while accepting low pay)? garmen needs to pinpoint a new field where such churn (from cheap "FT") will not impact the workforce as much. juz like how we evolved into biotech and downstream processing etc etc.. let our multi million paid garmen scholars plan and strategize the next move! :sleep:
phantom_opera
06-08-12, 16:26
carbuncle, try this
http://www.pmejobsnetwork.com.sg/index.html
but better to be LL lah, relaxed
compliance/internal audit can command very high pay ... but no life lah
According to the survey, jobs in compliance and anti-money laundering functions are the most in demand. Today, a top compliance specialist can expect to earn S$220,000 a year, that is up 83 per cent compared to two years ago.
This demand is largely driven by an increased focus on corporate governance and new regulatory requirements in the financial services industry.
The phantom menace :-)
http://www.btinvest.com.sg/wealth/wealth-planning/time-to-view-your-job-as-an-asset-investing-in-a-career-can-lead-to-huge-returns/
Time to view your job as an asset/ Investing in a career can lead to huge returns
Career and age matter when making investments and planning finances
Business Times
06 May 2012 16:34 by Aaron Low
There is endless debate about whether stocks, bonds or gold is the best investment but the answer may be staring you in the face – it is your job.
Simply put, a steady job and a good career will bring a lifetime of income.
Not only that, the job’s value will also rise, in the form of increments and bonuses, making employment one of the best asset classes to hold.
Mr Christopher Tan, chief executive of financial advisory firm Providend, says the people he advises tend to focus mainly on investing their savings.
“They want to know what kinds of returns they can get, but often neglect the fact that income from their jobs is the best return,” he says.
Jobs as financial assets
Including a career as part of your financial assets is a relatively new concept.
A 2007 research report by a team led by Yale School of Management finance professor Roger Ibbotson studied the issue of the importance of “human capital” in financial planning.
They argued that a working adult’s earning power should be seen as part of his financial assets.
This human capital is at its highest when a person first gets a job, declines as he ages and is almost depleted by retirement.
So the income earned should be seen as a dividend on this human capital, according to the report entitled Lifetime Financial Advice: Human Capital, Asset Allocation, And Insurance.
“As our lives progress, we gradually use up the earning power of our human capital, but ideally we are continually saving some of these earnings and investing them in the financial markets,” it said.
“As our savings continue and we earn returns on our financial investments, our financial capital grows and becomes the dominant part of our total wealth.”
In other words, human capital becomes financial capital during a lifetime of work.
This idea may not seem too revolutionary in itself; after all, getting a well-paying job is uppermost on the minds of any young person.
But the idea takes on bigger significance once you recognise that the job is also part of your wealth and should be taken into account when planning investments.
The report suggests that traditional forms of financial planning, which do not take into account human capital as a financial asset, can be further refined with the new insights.
Risk re-evaluated
First, viewing jobs as a financial asset means an individual’s risk is no longer confined to market risk, or risk that his stocks and shares fall in value.
Instead, you should also take into account the nature of your job and age when making investments and planning your finances.
The younger a person, the more risky he can afford to be. This is because while young, his human capital is not yet spent and his ability to earn is still high.
This is part of traditional financial planning, which looks at risk profiles based on a person’s age.
But Prof Ibbotson argues that jobs should also be taken into account.
For instance, a teacher may be considered to have a low-risk job, much like a bond.
Thus, he may want to invest more in equities and alternative investments to raise his overall returns.
On the other hand, a banker, whose job may not be as stable or secure, may want to consider keeping a lower risk profile for his investments.
Noted the report: “Individuals who work in careers that have earnings that are highly correlated with the stock market or the economy (for example, stockbrokers, commissioned sales people) should view their human capital as more equity-like and attempt to reduce their overall risk by holding more bonds in their financial portfolios.”
Mr Tan says this way of looking at risk is quite unique but it makes sense.
“I run a firm and it’s quite risky. So I have always made sure that I have a backup in the form of my more conservative investments. I don’t trade foreign exchange or dabble in exotic instruments such as options or derivatives,” he says.
Investing in a career
Second, if careers are now seen as investments, taking care to develop and nurture them take on even more significance, says Mr David Ang, executive director of the Singapore Human Resources Institute.
Investing in your job and career to earn higher wage increases can pay huge returns over the span of a career.
Compare two individuals starting at 25 and earning $3,000 a month.
If the first person gets wage rises of 2 per cent a year, he would have earned a total of $1,799,801.19 by the time he turns 60.
If the second person gets rises of 4 per cent, the total sum earned would jump to $2,651,480.09 by 60.
That is almost a million dollars more over their course of a career.
The easiest way to invest would be to go for training, get different sets of skills and get better qualifications with a better degree, like a Master of Business Administration (MBA).
But investing in jobs and careers is not simply about putting down $100,000 for an MBA but more to do with becoming better at what you do, says Mr Ang.
“You will have to seriously calculate the costs and benefits of an MBA. Yes, it opens doors and gets you contacts, but what is its intrinsic value? You have to seriously consider the amount of value it can give you,” he says.
Adding value can also be through the form of adding a little extra to your daily work.
For instance, a security guard who goes around to patrol and does maintenance on a machine while on his rounds is adding value to his work.
Says Mr Ang: “The employer sees this and will think this guy is worth that much more.”
Insuring against risks
Insurance also plays an important role in protecting against the risk of jobs being lost.
Income from work can suddenly dry up from death, permanent disability, or increasingly, partial disability, notes Mr Patrick Lim, director of financial advisory firm Promiseland.
“Insurance protects you against those risks and income from your job is something people depend on a lot,” he says.
He recommends whole-of-life plans as they not only protect the policyholder during his life but also bequeath a sum of money to the next generation.
Similarly, getting new skills that are not related entirely to your current career will also help reduce the risk of losing your job by being able to quickly re-enter the workforce in a different role.
Still, for human resource experts like Ms Annie Yap, taking too much of a financial approach to career planning may not be beneficial.
The managing director of human resource consultancy AYP Associates says this approach to human capital does give a useful lens to view one’s career in the overall financial plan.
“But some things are not just about money. Whether you like your boss, job satisfaction and status are all intangible benefits of a particular job or career that cannot be quantified,” she says.
[email protected] (
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these days such trash also can be seen as advice. its as good as telling people, you wont grow if you dont eat.
yeah sure. we needed experts to tell us that.
...
thx phantom menace. for me, its the ego at play. I dun wanna 'squander my youth', as the saying goes, then look back in regret. I dont believe even 2.5k job they dont want me... as it goes I m already putting aside 3k every month without fail even without a job. so I m still building up my ammo... except with job can build faster.
these days such trash also can be seen as advice. its as good as telling people, you wont grow if you dont eat.
yeah sure. we needed experts to tell us that.
...You'll be surprised that there are such people who need experts to tell them that. :spliff2:
I only read experts' viewpoints as a piece of news, not for financial advice. Only you know yourself and your current situation best to make the most prudent decision based on what you know about the market after reading and finding out more! :cheers1:
phantom_opera
06-08-12, 22:44
thx phantom menace. for me, its the ego at play. I dun wanna 'squander my youth', as the saying goes, then look back in regret. I dont believe even 2.5k job they dont want me... as it goes I m already putting aside 3k every month without fail even without a job. so I m still building up my ammo... except with job can build faster.
Looks like dark side of the force has failed to entice you :p
http://www.youtube.com/watch?v=1-rHdSWZLpQ&feature=related
ennio Morricone... his Chi Mai remains one of my all time favorite
The Straits Times
www.straitstimes.comPublished on Aug 07, 2012
50-year home loan not advisable: Experts
Reasons include substantial total interest paid, danger of overspending
By daryl chin
WHILE a 50-year home loan helps ease the cash flow for young couples, the interest paid on it will eventually reduce the potential profit that can be made on a property, said most financial advisers yesterday.Such long-term loans, with their lower monthly payments, may also lure couples to spend beyond their means in the meantime, they added.What they should do when starting out is to buy a smaller flat within their means and upgrade later when they can afford it, said chief executive M. Salim of First Principal Financial, which advises on home loans and investments.He was among 10 financial planning experts interviewed yesterday who unanimously advised against taking a 50-year home loan.United Overseas Bank (UOB) introduced such a mortgage recently and on Sunday, National Development Minister Khaw Boon Wan cautioned would-be home buyers against it.Calling such loans gimmicks, he urged especially fresh school- leavers eyeing a five-room flat not to fall for them. "It doesn't make sense," he said.Financial adviser Damian Pang, however, argues that for people buying a property for investment rather than to reside in, a 50-year loan could be a boon.The reason? "The cash burden is less heavy and should interest rates rise, the monthly payments would still be manageable," he said.Home loans typically range between 20 and 40 years. While longer-term loans are alluring for their lower monthly payments, the interest paid to the bank by the end of the loan period can be substantial, said director Timothy Kua of SmartLoans.sg, which advises home buyers on the suitable mortgages available."This will eat into your capital gains when you sell your property, and you would not have made as much profit," he added.Say, at the current 2 per cent interest rate, the monthly payment for an $800,000 loan is about $2,100 for a 50-year loan, and about $3,000 for a 30-year loan.At the end of the loan period, the interest paid will be about $466,000 and $264,000, respectively.Mr Kua said that about 90 per cent of his company's 50,000 customers opt for loans of 30 to 35 years.Mr Salim noted that part of the bait in coaxing people to buy pricier homes is the success stories in recent years of home owners making huge profits from buying and selling residential property."With this mindset, many young people look at resale value rather than their financial capability. They over-commit, thinking the market will always stay buoyant and never crash," he said.UOB's head of secured loans, Ms Chia Siew Cheng, reiterated yesterday that its offer is aimed at young executives who are "serious about buying a home". "As their careers progress, they have the flexibility to shorten the loan tenor and make partial capital repayments," she said, adding that UOB encourages its customers to assess their personal circumstances carefully before committing to a long-term loan.Last month, the Monetary Authority of Singapore said it was monitoring the mortgage product.Several young people interviewed share the view of civil servant Marco Low, who put his name down recently for a new four-room flat in Queenstown.Said the 25-year-old who plans to marry next year: "It's a matter of preference. Some don't mind paying a loan till they are past 70 years old."I'd rather be debt-free by the time I retire."
[email protected]
Additional reporting by Ian Poh
Copyright © 2012 Singapore Press Holdings. All rights reserved.
The Straits Times
www.straitstimes.comPublished (http://www.straitstimes.comPublished) on Aug 07, 2012
50-year home loan not advisable: Experts
Reasons include substantial total interest paid, danger of overspending
By daryl chin
WHILE a 50-year home loan helps ease the cash flow for young couples, the interest paid on it will eventually reduce the potential profit that can be made on a property, said most financial advisers yesterday.Such long-term loans, with their lower monthly payments, may also lure couples to spend beyond their means in the meantime, they added.What they should do when starting out is to buy a smaller flat within their means and upgrade later when they can afford it, said chief executive M. Salim of First Principal Financial, which advises on home loans and investments.He was among 10 financial planning experts interviewed yesterday who unanimously advised against taking a 50-year home loan.United Overseas Bank (UOB) introduced such a mortgage recently and on Sunday, National Development Minister Khaw Boon Wan cautioned would-be home buyers against it.Calling such loans gimmicks, he urged especially fresh school- leavers eyeing a five-room flat not to fall for them. "It doesn't make sense," he said.Financial adviser Damian Pang, however, argues that for people buying a property for investment rather than to reside in, a 50-year loan could be a boon.The reason? "The cash burden is less heavy and should interest rates rise, the monthly payments would still be manageable," he said.Home loans typically range between 20 and 40 years. While longer-term loans are alluring for their lower monthly payments, the interest paid to the bank by the end of the loan period can be substantial, said director Timothy Kua of SmartLoans.sg, which advises home buyers on the suitable mortgages available."This will eat into your capital gains when you sell your property, and you would not have made as much profit," he added.Say, at the current 2 per cent interest rate, the monthly payment for an $800,000 loan is about $2,100 for a 50-year loan, and about $3,000 for a 30-year loan.At the end of the loan period, the interest paid will be about $466,000 and $264,000, respectively.Mr Kua said that about 90 per cent of his company's 50,000 customers opt for loans of 30 to 35 years.Mr Salim noted that part of the bait in coaxing people to buy pricier homes is the success stories in recent years of home owners making huge profits from buying and selling residential property."With this mindset, many young people look at resale value rather than their financial capability. They over-commit, thinking the market will always stay buoyant and never crash," he said.UOB's head of secured loans, Ms Chia Siew Cheng, reiterated yesterday that its offer is aimed at young executives who are "serious about buying a home". "As their careers progress, they have the flexibility to shorten the loan tenor and make partial capital repayments," she said, adding that UOB encourages its customers to assess their personal circumstances carefully before committing to a long-term loan.Last month, the Monetary Authority of Singapore said it was monitoring the mortgage product.Several young people interviewed share the view of civil servant Marco Low, who put his name down recently for a new four-room flat in Queenstown.Said the 25-year-old who plans to marry next year: "It's a matter of preference. Some don't mind paying a loan till they are past 70 years old."I'd rather be debt-free by the time I retire."
[email protected]
Additional reporting by Ian Poh
Copyright © 2012 Singapore Press Holdings. All rights reserved.
actually, if these investors have no problems coughing up 23% or 43% for downpayment and stamp duty, then i dun think they will be that overstretched when it comes to mortgage payments bah? so a 50 yrs loan wun result in alot of pple really overpaying cos if they try to buy a more expensive (out of their current means at 35yrs loan) apt, they may also have issues with coughing up the initial lump sum payment? :confused:
actually, if these investors have no problems coughing up 23% or 43% for downpayment and stamp duty, then i dun think they will be that overstretched when it comes to mortgage payments bah? so a 50 yrs loan wun result in alot of pple really overpaying cos if they try to buy a more expensive (out of their current means at 35yrs loan) apt, they may also have issues with coughing up the initial lump sum payment? :confused:
REfinance.
50 yr loan is for better cash flow.... why not when inflation is higher than interest rate. Use the cash saved to hoot another property.:D
you think you'll actually have the loan for 50 years. Maybe refinance in the 3rd year? sold off in 10 years?
My father brought a 3 room HDB in Macpherson estate for $6600 in 1967.
Guess what is the price now.
My father brought a 3 room HDB in Macpherson estate for $6600 in 1967.
Guess what is the price now.
What? $350k?
Close just below SGD 300,000.
What's the rental yield for that size in that area?
What's the rental yield for that size in that area?
bout 2k pm..:rolleyes:
http://www.streetsine.com/static/home2/map.jsp#homeReport
50 å¹´åªä¸è¿‡æ˜¯ä¸ªèŠ±æ‹›
7 年就痒了
buttercarp
08-08-12, 09:09
50 å¹´åªä¸è¿‡æ˜¯ä¸ªèŠ±æ‹›
7 年就痒了
Huh.... what formula is this?
My father brought a 3 room HDB in Macpherson estate for $6600 in 1967.
Guess what is the price now.
i hope your father not only bought HDB, bought other private properties also.
if bought only HDB and no other properties, how to realise his capital gains. where is he going to stay, unless he moved in to your Southbank.
Huh.... what formula is this?
Is a failed attempt at Chinese from my android app...
i hope your father not only bought HDB, bought other private properties also.
if bought only HDB and no other properties, how to realise his capital gains. where is he going to stay, unless he moved in to your Southbank.
long story............. and is a sad one.
Huh.... what formula is this?
这语言东西真难搞!!!!
long story............. and is a sad one.
every family got sad story...cheers bro...end of day i still believe in this old chinese saying....
"If a man is born POOR its not his fault but if a man dies POOR its his fault..."
having said that i think its pretty ok if your dad is happy with his hdb and living comfortably...cos $$$ not everything...:)
phantom_opera
08-08-12, 14:13
这语言东西真难搞!!!!
Just remember UTF-8
phantom_opera
08-08-12, 14:18
every family got sad story...cheers bro...end of day i still believe in this old chinese saying....
"If a man is born POOR its not his fault but if a man dies POOR its his fault..."
having said that i think its pretty ok if your dad is happy with his hdb and living comfortably...cos $$$ not everything...:)
In countries like US during the good old days:
"If a man is born POOR its not his fault but if a man dies POOR its his fault..."
In countries other than Singapore:
"If a man is born POOR its not his fault but if a man dies POOR its PAP's fault..."
:scared-5:
Long Long time ago, Singapore need worker and they produce very good worker.
Later they found the Chinese and the Indian can produce lots of worker, they switch to produce dreamer.
But the worker they produce is not easy to reprogram to dreamer thus they give out and feel them went they cry.
Let all dream instead of working.......
Just remember UTF-8
I coded everything in utf-8 but this .... this forum uses ISO-8859-1!!!!!!!!!
In countries like US during the good old days:
"If a man is born POOR its not his fault but if a man dies POOR its his fault..."
In countries other than Singapore:
"If a man is born POOR its not his fault but if a man dies POOR its PAP's fault..."
:scared-5:
:D:D:D:D:D:D:D
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