Bloody hell, your assets appreciating right?Originally Posted by Happy Feet
Bloody hell, your assets appreciating right?Originally Posted by Happy Feet
It has always been like that. That is human nature.Originally Posted by Unregistered
Originally Posted by UnregisteredThat's not true.Originally Posted by Unregistered
I'm a citizen of Singapore and I don't hope for a crash in prices.
Only the sour grapes are looking forward to a crash.
Originally Posted by Unregistered
Govt should do the right thing for the country.
If they do otherwise because of vote, then sporean talents will migrate to support competitors market.
why can't the whole country work together to make a better country?
jealous & envy of sour grape want to stop progress of country.
3,000 apply for Boon Keng's condo-like flats, but only 460 sold
By Fiona Chan, Property Reporter
THOUSANDS of applications poured in for a condo-like Housing Board project in January - but as of last week, less than two-thirds of the flats had been taken up.
About 250 of the 714 units in City View @ Boon Keng remain unsold, said HSR Property Group, which is marketing the project.
These flats will be offered to the public, probably via a walk-in selection.
The leftover homes came as a surprise to market watchers, given that 3,500 applicants had vied for them.
This works out to five would-be buyers for each flat at City View, the second public housing project to be built by a private developer.
It boasts condo-like features such as timber floors, built-in wardrobes and air-conditioning.
All the applicants were given a chance to book the flats they wanted, said HSR project director Kellie Liew.
The selection process stretched over 20 days and ended last Thursday, with more than 3,000 potential deals falling through.
Developer Hoi Hup Sunway sold about 460 units, including six of the top-priced five-room units at $727,000 each, said Ms Liew.
But she added that some buyers backed out of their purchases due to the weakening property market, while others did not meet the required criteria to buy the flats.
Oh no takers coming..........tells you the state. Maybe speculators panicking.Originally Posted by Unregistered
Oh no takers coming..........tells you the state. Maybe buyers decide to buy a condo instead. Cos' they don't want to be staying in the same type of housing like you, the sour grape?Originally Posted by Unregistered
Originally Posted by Unregistered
some did not meet the required criteria, how many?
Wait for STI to hit 3300 in 1-2 months time, people will start to camp outside HDB to grab those leftover units, real opportunists.
Another quarter of price increase. Yes!
Every quarter also increase what.Originally Posted by Unregistered
Originally Posted by UnregisteredDon't keep saying that anymore.Originally Posted by Unregistered
The sour grapes will become even more sour.
OK OK.Originally Posted by Unregistered
Let's say something negative. They will like it.
SIBOR crash crash crash.
SIBOR burned burned burned.
SIBOR die die die.
Originally Posted by mr funny
Originally Posted by Unregistered
URA will review Q1 data 1-2 weeks from now.
Based on CPI data, property price index is up.
People just ran out of money and realised it's pointless to burden themselves with a huge mortgage.Originally Posted by Unregistered
Some who have the money don't qualify. But they are squeezed because private property is too expensive for them.
The question is how big is the current spculative bubble and what will catalyse its bursting.
The speculative bubble was very small and government has bursted it by removing DFS and increasing DC. So we are in a very healthy state now.Originally Posted by Unregistered
Because of the sour grapes, we have a smaller rise this quarter.Originally Posted by Unregistered
Never mind, US housing sale has turned around, next quarter rise will be higher.
Wrong !!Originally Posted by Unregistered
People just realised that they are suckers to buy Boon Keng. Condo finishing so what ? The HDB flats just across the road is selling for 40% lesser. Use the difference of 40% for the renovation and you can build a luxurious-style setting in your home.
You can buy a LV Bag for a few k
You cab buy a LV Bag for less then hundred too
Both may look alike
but one is fake one hahaha
In your home? I can't see it so I ain't if you are bullshiting us.Originally Posted by Unregistered
Good idea!Originally Posted by Unregistered
Can't afford to stay in Orchard Road condo? Never mind, can also buy an HDB flat at Jurong West and replace all your windows in the house with Plasma TVs that show Orchard Road sceneries 24 hours.
Each 100" Plasma TV costs around $20,000. Even if you buy 10 of them, at most that's $200,000.
Master bedroom's window Plasma TV "looks out" towards Tang Dynasty building; Living room's window Plasma TV "looks out" towards Goodwoord Park; Kitchen window Plasma TV "looks out" towards Stevens Road.
At night, the Plasma TVs will change the "day sceneries" into "night sceneries" and the roads will light up with car headlights. Beautiful!
Somedays, can also change channel to the Manhattan skyline, or overlook Canary Wharf.
When the loan shark comes your neighbour's house, the Plasma TV at the door will replace his image to show a butler bringing a pig head to your neighbour "Madam! Your lunch is ready ..."
Since when 100 inch plasma tv cost $20,000? at least $80k above...
The STI stock market index has plunged about 20% from its peak, but the URA property index still seems to move up exponentially.
How can this be?
Let’s study the STI graph superimposed over the URA property index graph. Both graphs are scaled such that their time axes coincide, and their Asian financial crisis bottoms & dotcom peaks are at the same levels. STI is indicated by the dark blue line, while the pink line with blue crosses is for the URA index for condominiums (the other lines are for detached, semi-detached, terrace and apartments):
http://www.salary.sg/historical-prop...2008-large.gif
You should be able to see from the 2 graphs that the property bottom in end 1998 lagged the stocks bottom by about a quarter (i.e. 3 months). Similarly, the property peak in mid 2000 also lagged the stocks peak by about 1 to 2 quarters.
Now, fast forward to end 2007. The stock market has clearly tanked, amidst high inflation and comparatively stagnant salaries. But property is apparently still moving up, up and up! This can’t continue.
I hereby predict that property prices will plunge within the next 3 to 6 months. By at least 20%.
Want more evidence? In the last month (February), property developers were so spooked by the worsening economy that they launched only 343 units in the whole country, out of which only a miserable 170 got sold (excluding ECs). Oh yeah, maybe it’s the Chinese New Year.
References: URA news release and STI data in Yahoo! Finance.
Really pissed with all these speculators.
Burn them to hell.
SIBOR is going drop to 0.75% soon.
Let these speculators get a taste of their own medicine.
Get ready for the action.
When SIBOR hit 0.75%, there will be blood everywhere.
Kill kill kill! Die die die!
Ha ha ha!
Originally Posted by The Straits Times
You analysis is over simplistic.Originally Posted by Unregistered
Have you asked yourself why there is a time lag between stocks and property prices?
Are property investors foolish not to see the trend and quickly buy when stocks go up and sell when stocks go down?
There is a reason.
Stock prices are very volatile. It can go up and down quickly depending on the news.
So what happens if you sell your property today and then in the next few months the stock index goes up again?
Each transaction (sell/buy) of property incurs substantial costs. Let's say you sell today. You have to pay legal fees approximately 0.5% and agent's fee 2%, total is 2.5%. Then in a few months if the market recovers, you have to buy back and incur another legal fee of 0.5% and stamp duty of approximately 3%, total 3.5%.
Each sell/buy costs you approximately 6%, not including the time and effort to scout around and bargain, which can be very time consuming and eats into your opportunity costs in your career/business, which can end up even more.
Furthermore, when you buy back during a rising market, prices can shoot up very fast and you may end up buying back an equivalent property at a much higher price.
Property is a long term investment (similar to insurance).
Just buy and hold it. That's the best strategy.
Consumer Confidence in U.S. Fell More Than Forecast
By Bob Willis
March 25 (Bloomberg) -- U.S. consumer confidence fell more than forecast in March as Americans' outlook on the economy dropped to the lowest level since Richard Nixon was in the White House.
The Conference Board's confidence index fell to 64.5, a five-year low, from a revised 76.4 in February, the New York- based research group said today. A separate report showed home prices in January fell by the most on record.
Declining stock and property values have also unnerved Americans, heightening concern spending will falter. Without consumers, which account for more than two-thirds of the economy, the slowdown triggered by the collapse in housing and credit markets is likely to deepen in coming months.
``Consumers are decidedly negative, suggesting a pullback in consumer spending and an economy in recession,'' Ethan Harris, chief U.S. economist at Lehman Brothers Holdings Inc. in New York, said before the report.
The Conference Board's gauge of expectations for the next six months slumped to 47.9, the lowest since December 1973, when the Watergate scandal rocked the Nixon administration and an embargo by a group of Arab oil exports was in effect, the report showed.
Stock prices extended declines following the report and Treasury securities maintained gains. The Standard & Poor's 500 index was down 0.4 percent at 1,345.0 at 10:05 a.m. in New York. The yield on the 10-year note fell to 3.49 percent from 3.56 percent late yesterday.
Forecasts
Economists forecast the Conference Board's measure would fall to 73.5 from a previously reported 75, according to the median of 61 forecasts in a Bloomberg News survey. Estimates ranged from 65 to 76.
Home prices in 20 U.S. metropolitan areas fell in January by the most on record, a sign the housing recession is deepening, a private survey also showed today. The S&P/Case- Shiller home-price index dropped 10.7 percent from January 2007, after a 9 percent decrease in December. The gauge has fallen for 13 consecutive months.
The measure of present conditions declined to 89.2 in March from 104 the prior month.
The share of consumers who said jobs are plentiful dropped to 18.8 percent from 21.5 percent last month. Those saying jobs are hard to get increased to 25.1 percent from 23.4 percent.
Lowest Ever
The proportion of people who expect their incomes to rise over the next six months fell to 14.9 percent, the lowest since record keeping began in 1967, from 18 percent. The share expecting more jobs dropped to 7.7 percent from 8.9 percent.
Federal Reserve policy makers have lowered the benchmark interest rates and pumped money into the banking system to try to make it cheaper and easier for Americans to borrow and spend.
The central bank earlier this month carried out its first emergency weekend action in almost three decades and became the lender of last resort to the biggest dealers in government bonds. Two days later, it reduced the target interest rate by three-quarters of a point and acknowledged risks had increased.
``Growth in consumer spending has slowed and labor markets have softened,'' the Fed said after it cut the key rate to 2.25 percent. ``The outlook for economic activity has weakened further.''
`Serious Medicine'
The cuts ``are definitely serious medicine for the economy which is very sick,'' Michael Jackson, chief executive officer of AutoNation Inc., the largest publicly traded U.S. car dealer, said in a March 19 interview with Bloomberg Television. ``The consumer is under extreme stress.''
The number of Americans collecting jobless benefits swelled this month to the highest in more than three years as automakers, construction companies and financial firms fired workers. The economy lost 63,000 jobs in February, the most in five years, according to figures from the Labor Department.
More homes are also being foreclosed as the drop in values leaves owners owing more than a property is worth.
For those still in their homes, falling prices lead to a loss of wealth that makes Americans less inclined or able to borrow to finance spending.
What's more, regular gasoline rose to a record $3.28 a gallon on average last week and crude oil reached a record above $111 a barrel.
Spending is already taking a hit. Retail sales fell 0.6 percent in February, the Commerce Department reported last week, the second decline in three months.
Consumer spending may grow at an annual rate of 0.5 percent this quarter, the slowest pace since the 1991 recession, according to the median estimate of economists surveyed this month by Bloomberg News.
More and more economists are forecasting a recession. Martin Feldstein, the Harvard economics professor who heads the research group that determines when downturns begin, said this month that a contraction had already begun.
Merrill's 2008 Profit Estimate Cut 45% at JPMorgan
By Allen Wan and Aaron Clark
March 25 (Bloomberg) -- Merrill Lynch & Co. fell for the first time in three days after JPMorgan Chase & Co. cut its 2008 profit estimate for the third-largest U.S. securities firm by 45 percent on concern that further writedowns may reduce earnings.
Merrill slipped 73 cents, or 1.5 percent, to $47.65 at 9:41 a.m. in New York Stock Exchange composite trading. The stock has fallen 44 percent over the past year, compared with a 27 percent decline in the Standard and Poor's 500 Financials Index.
Analyst Kenneth Worthington lowered his earnings estimates for this year to $2.75 a share from the previous projection of $5 a share. For 2009, he now expects New York-based Merrill to earn $5.09 a share, down from the previous estimate of $5.57.
``With the credit environment continuously challenging, we are less optimistic about a material recovery in 2008,'' Worthington wrote in a note dated yesterday. The analyst kept his ``neutral'' rating on Merrill.
Merrill may report a total of $5 billion in additional losses on collateralized debt obligations, so-called Alt-A mortgages and commercial mortgages, the New York-based analyst said. The securities firm has posted $24.5 billion in asset writedowns since the beginning of 2007.
Everything just start surging.Originally Posted by Reuters
Look at HongKong HSI, up by 6.43%!!
Singapore is up too.Originally Posted by The Straits Times
Originally Posted by Unregistered
Want to know why some buyers backed out of Boon Keng HDB?
The prices are equivalent to private condos, but buyers must not earn more than $8,000 -- HDB ruling.
So with such low income and yet can afford to pay more than half a million bucks?
Buy one and you have IRAS going after your necks.
With resale HDB, it is different -- no income ceiling.
But resale HDB flat is old and more expensive leh.Originally Posted by Unregistered
CV @ BK is still cheaper.