COE prices up. car price down. think cant compare with the health of economy.Originally Posted by Unregistered
COE prices up. car price down. think cant compare with the health of economy.
Sorry, I maybe a bit densed. What have IRs and F1s got to do with property sales? Does it mean that people who come here to gamble and race cars will all buy properties? Just for a few days' stay or what? Is it the same for Macau and Las Vegas?
Tats actually is wat i want to say. they will be here onli if their hometown economy is also doing well. take for example now the sub-prime issue. r these ppl coming? all will be inter-linked especially singapore, our country. whish is.the most sensitive country in the world. in stocks, we depend on DJ for direction, In property, we depend on foriegn buyer, in labour we depend on FT. etc
But we are talking about mass market and mid-tier here, not the luxury or high end properties which I agree will probably continue to fall. Mass market will continue to rise although slower pace this year.
In terms of property price, Luxury or High end will rise faster than any others, but drop slower than others, therefore dun be mislead by others info that middle or lower ends not effected. fyi hdb flats are also slower n lower in prices
Full of shit asshole..
Full of shit asshole...
Good story. You a fiction writer ??
I think your father is one of the workers holding a job in Pioneer Circle. So why scold your father ?? Mad man.
COE up more than car price down. Net result buyers still able and willing to fork out more money for a sure-lose, depreciating piece of asset running on higher petrol costs to put up with more road congestion. Why? Got jobs so must travel => healthy economy. Got pay rise so more discretionary spending => buy car, buy properties. But kiasu, kiasi mentality keep them at the sidelines for the moment, not because they cannot afford. Developers know this so they also reluctant to reduce price. But those who speculate and cannot hold will give up. Once the speculators (lucky not many of them) are flushed out, new buyers will enter and then developers will increase price again, fuelling another round of euphoria.
Are you sure? High end can rise faster than others but also drop faster. Middle or low end will also be affected, but to lesser degree. This is because high end prices are driven mostly by short term speculators, middle or low end are mostly driven by long term home owners.
This is irrational exerberance. Inflation is getting so high and we are seeing a sliding trend in the GDP which mean that we are heading towards stagflation. Those properties are at sky high price and yet you are thinking of euphoria in the future. Good luck to you.
Too late now. Everything is dropping. Didn't you hear some shout SOS? Stuckkkkkkk Ohhhhhhhhhhh Stuckkkkkkk.....
Well, I am a bit worried. If I buy another HDB, I may not be able to sell mine.
So holding back for now, because prices are so so ex. Heard that there were some people retrenched in Dec still not found jobs. Now they say financial market may weaken. Everything so expensive.
Yes don't worry, prices have started dropping and will come tumbling down as more and more enblocs go sour and more and more supply in the market. Already agents are chasing buyers offering hefty discounts. Everything is negotiable now unlike 6 months ago.
These are the speculators. Once they get flushed out, those with real money will move in. Inflation high, that's exactly why they will not want to hold cash for too long. What better assets to buy then than properties in Singapore? For now, we see softening to let some hot air out, but we won't see the same kind of price deflation as the mid 90s that lasted for almost a decade. The rebound this time will be much faster, much stronger. There's a lot of cash out there waiting to buy over from the weak hands this round, unlike the last.
All the cash would go to markets hit badly like US where prices could double in the next 3-5 years. Upside limited in markets like HK and Singapore. Selling wave has started already. Go out and check with your agent.
Payrolls May Have Slumped for Third Month: U.S. Economy
Preview
By Bob Willis
March 30 (Bloomberg) -- The U.S. lost jobs for a third month in March and manufacturing contracted at the fastest pace in five years, signs the economy continues to turn down, economists said before reports this week.
Payrolls probably shrank by 50,000, according to the median estimate of economists surveyed by Bloomberg News before the Labor Department's April 4 report. The last time the economy lost jobs for at least three consecutive months coincided with the start of the Iraq War in 2003.
``The economy has slipped into a recession,'' said Ethan Harris, chief U.S. economist at Lehman Brothers Holdings Inc. in New York. ``We expect the labor market to weaken, with payrolls falling steadily through the middle of next year.''
Job losses, slumping confidence and the biggest plunge in housing in a generation all point to a slowdown in consumer spending that will weaken growth. Federal Reserve Chairman Ben S. Bernanke will testify before Congress this week after lowering interest rates and extending credit to non-banks in an attempt to calm financial markets.
The projected decrease in payrolls would follow a decline of 63,000 in February and a smaller drop in January. The jobless rate likely rose to 5 percent from 4.8 percent, the survey said.
Factory payrolls in March probably shrank by 40,000 workers, reflecting automakers' efforts to trim costs and a strike at a suppler for General Motors Corp., economists project the jobs report may show.
Strike's Influence
A walkout by workers at American Axle & Manufacturing over pay and benefits that started on Feb. 26 has idled almost half of GM's North American workforce. The payroll figures may be reduced by as much as 20,000 workers because of the effects of the strike, according to Morgan Stanley economist David Greenlaw.
Ford Motor Co., which lost $15.3 billion in the past two years, may cut more jobs in North America, Chief Executive Officer Alan Mulally said earlier this month.
``The old ways of doing business are gone,'' Joe Hinrichs, Ford's manufacturing chief, and Marty Mulloy, vice president of labor affairs, said in a March 19 commentary sent to newspapers in communities where Ford has plants. ``We must continue to downsize and simply will not have enough jobs for all of our current hourly workers.''
Job losses in financial markets are also mounting following the collapse in subprime lending.
Wall Street banks hit by mortgage losses and writedowns have cut more than 34,000 jobs in the past nine months, the most since the dot-com boom fizzled in 2001, according to the Securities Industry and Financial Markets Association.
Job Losses
This year, banks including Lehman, Citigroup Inc. and Morgan Stanley have been reducing staff in fixed income trading, securitization and investment banking. So far, Lehman has eliminated 18 percent of its workforce, Morgan Stanley has cut 6.2 percent, and Merrill Lynch & Co. has trimmed 4.5 percent.
``Rising unemployment should continue to slow wage growth, adding to the strain on consumers,'' said Lehman's Harris.
Manufacturers are retrenching as demand weakens. The Tempe, Arizona-based Institute for Supply Management may report April 1 that its factory index fell to 47.5 this month, the lowest level since April 2003, from 48.3 in February, according to the survey median. A reading of 50 is the dividing line between expansion and contraction.
The following day, the Commerce Department may report that factory orders in February dropped 0.8 percent following a 2.5 percent decline the prior month.
Services Contract
In another sign that the housing recession is dragging down other areas, service industries contracted for a third month in March, the ISM is projected to report on April 3.
The group's non-manufacturing index, which covers 90 percent of the economy, fell to 48.5 this month, from 49.3 in February, according to the median forecast. Services haven't contracted for three consecutive months since 2001-2002, when the economy was emerging from the last recession.
``The tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters,'' the Fed said March 18 following its last policy meeting. ``Growth in consumer spending has slowed and labor markets have softened.''
Bernanke will elaborate on the outlook before the Joint Economic Committee of Congress on April 2.
Seeking to ease credit, restore confidence to financial markets and cushion the slowdown, the Fed on March 18 lowered its key rate by three-quarters of a point and vowed to act ``as needed'' to cushion the economy. The Fed has cut the benchmark rate by 3 percentage points since September.
With the depreciating USD and ever increasing debt, the world will not want to hold US assets as it used to be. Even US companies are diversifying their business and capital out of US into Asia to take advantage of its rich natural resources, labour and consumers. Asia will continue to rise and Asian assets will increase in value. Singapore is now well positioned to take advantage of this shift. Upside limited? Look further than the agent.
Yes job cuts coming here soon. Economy cannot decouple from that of US. Upside for US$ soon. Inflation in Asia will soon be double digit. It is already in many countries of the middle east. Only downside for property here. Stagflation is a reality now.
What are you going to do with your money then? Put in bank yielding interest that can't even beat half the inflation rate?
Conflicting views. I think I had better go with my own gut feel. I will wait a while. Prices may not be as low previously, but certainly can be lower than now. Agree that agents are more willing to negotiate these days, more friendly too.
US president:Obama,Clinton or Macburger whatever.Not so great all of them.Europe.France have Sarskovy ...his face bad karma.Great britain...Mr.Brown like the HK movies.Other European leaders can you remember who is who for the other countries in Europe?
In Asia everybody knows Who? or Hu for China.Ma for Taiwan ,Fujitsu for Japan.LHL and LKY are world renown.
The future of the world is Asia.Forget about America who is controlled by Isreal.
There are many avenues that are open now....but money is not everything in life. Don't run after money. Too much of it is injurious to health.
Hi post #141, put money in the bank, money shrinks. Buy property now, also can lose money in future. Which is the lesser of the 2 evils?
Put money in bank, money shrinks. Buy property now, can win in future. Which is better?
Friday, Mar. 28 2008
U.K. House Price Growth Slowest For 12 Years: Nationwide
LONDON -- U.K. house prices fell 0.6% in March, according to figures from the Nationwide building society out Friday. Prices have now fallen for the fifth month in a row and are growing at the slowest rate for twelve years. On an annualized basis, house prices rose by 1.1% in March -- a level not seen since March 1996 -- compared to growth of 2.7% a month ago. "The path for house prices in 2008 still looks set to remain within our forecast range. We expect a modest fall in house prices during the year," said Fionnuala Earley, Nationwide's chief economist.
Put money in bank in right currency. It can be a winner too.
money shrinks better than money lose in property. wait for brighter market and entr cash rich
money win in property better than money shrink in bank. Timing the market can turn up surprises.
Posting Permissions
Reply With Quote