PDA

View Full Version : Wealth Over the Edge: Singapore


eng81157
11-03-13, 10:54
while mere mortals, like me, grapple with issues of putting bread on the table, these folks are................

http://online.wsj.com/article/SB10001424127887324662404578334330162556670.html
azeoprop
11-03-13, 11:50
"One night, there were these kids here—literally kids in their 20s—who all had their own private jets,"

"Serious jets, too. There was an A380 which was converted to include a pool and basketball court—it was ridiculous."

:scared-1:
desfrie
11-03-13, 12:03
"One night, there were these kids here—literally kids in their 20s—who all had their own private jets,"

"Serious jets, too. There was an A380 which was converted to include a pool and basketball court—it was ridiculous."

:scared-1:

Now you know why SC Global is taking itself private. The very wealthy play by their own set of games regardless of the "analysis" and people shouting for CCR prices to crash.

Well...that is life....
phantom_opera
11-03-13, 12:08
All the QEs in the world are helping to transfer money from saving class to the ultra rich ... :p

PAP likes to term it "state transfer" ... QEs work like reverse social transfer
azeoprop
11-03-13, 12:12
World war 3 coming? :scared-3:
radha08
11-03-13, 14:36
and we got 1 million hdb flats....whose price is going to crash:doh:..what a country....some so rich and some about to be so poor...:doh:
phantom_opera
11-03-13, 15:33
and we got 1 million hdb flats....whose price is going to crash:doh:..what a country....some so rich and some about to be so poor...:doh:

dun worry, ultra rich Chinese will send their proxies to buy all resale HDBs ... so cheap here compared to Shanghai / Beijing, 70y lease vs 90y lease

Chinese has reached Cyprus ...

http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/imagecache/image_300x200/BT_20130311_HOUSE11_445887.jpg
teddybear
11-03-13, 22:49
The $1m HDB flats dream for many is going to go down the drain since you are now told by MND that fair property price for HDB BTO flats in non-mature estate is 4x annual salary only. Since medium income is $5k pm x12 x4 = $240k, mature to non-mature estate at most 2x rate means HDB flats in mature estate at most $480k nia! How to hit $1m?! :banghead:


and we got 1 million hdb flats....whose price is going to crash:doh:..what a country....some so rich and some about to be so poor...:doh:
kane
11-03-13, 22:59
i wonder if the lease was 60 years or 50 years, what will the take up rate be like?
minority
11-03-13, 23:33
The $1m HDB flats dream for many is going to go down the drain since you are now told by MND that fair property price for HDB BTO flats in non-mature estate is 4x annual salary only. Since medium income is $5k pm x12 x4 = $240k, mature to non-mature estate at most 2x rate means HDB flats in mature estate at most $480k nia! How to hit $1m?! :banghead:


median household income is 7.5K works out to be ard 330K per couple for 4yrs

http://www.singstat.gov.sg/pubn/papers/people/pp-s19.pdf

Well non mature still base on what the open market willing to pay. u have to bench mark the bto in mature estate to the resale in mature estate. which KBK say 30% drop and 4x annual salary is for non mature estate only.
eng81157
12-03-13, 08:41
The $1m HDB flats dream for many is going to go down the drain since you are now told by MND that fair property price for HDB BTO flats in non-mature estate is 4x annual salary only. Since medium income is $5k pm x12 x4 = $240k, mature to non-mature estate at most 2x rate means HDB flats in mature estate at most $480k nia! How to hit $1m?! :banghead:

i take that he means resale HDBs going at $1m
eng81157
12-03-13, 08:42
i wonder if the lease was 60 years or 50 years, what will the take up rate be like?

beggars can't be choosers. shorter lease = cheaper. want a longer lease, pay more.
phantom_opera
12-03-13, 08:46
The $1m HDB flats dream for many is going to go down the drain since you are now told by MND that fair property price for HDB BTO flats in non-mature estate is 4x annual salary only. Since medium income is $5k pm x12 x4 = $240k, mature to non-mature estate at most 2x rate means HDB flats in mature estate at most $480k nia! How to hit $1m?! :banghead:

anybody wants to sell Pinnacle @ Duxton to me at 500k? :p
eng81157
12-03-13, 08:57
anybody wants to sell Pinnacle @ Duxton to me at 500k? :p

heh, i offer $510k, immediate deal to close
hutsutau
12-03-13, 10:56
where else in the world can you find public housing going for a mil and people still call it a bargain
hutsutau
12-03-13, 10:57
while mere mortals, like me, grapple with issues of putting bread on the table, these folks are................

http://online.wsj.com/article/SB10001424127887324662404578334330162556670.html
this report is just overly exaggerated.
minority
12-03-13, 11:25
this report is just overly exaggerated.


interesting thing to point out. Clubs sells 26K cocktail but avg night earnings is 100K... goes to tell how many people really pay for such drinks. They might be rich but not carrots.
eng81157
12-03-13, 13:03
this report is just overly exaggerated.

hello, this is wall street journal we are talking about. not some kuching kurang tabloid, or straits times
cheerful
12-03-13, 14:16
sure, an asian version of the WSJ