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Thread: End of property boom in sight?

  1. #1
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    Default End of property boom in sight?

    March 31, 2008

    SINGAPORE

    End of property boom in sight?


    WHAT IT IS

    FLASH estimates of the property market's showing in the first three months of the year will be released by the Government tomorrow.

    The figures, released quarterly, track prices and rents of HDB flats and private property. They are based on caveats lodged in the first 10 weeks of each three-month period.

    Fuller figures and more detailed information will be given out on April 25.

    WHY IT MATTERS

    This round of figures is expected to shed light on the million-dollar question: Is it the beginning of the end for the housing boom?

    The last set of numbers showed that a stellar rise in home prices over the last two years was starting to slow.

    Since then, the market has reached a virtual standstill.

    Property developers have delayed launches as buyers, spooked by the worsening global credit crunch stemming from the US, are holding off buying.

    Individual home sellers convinced of Singapore's economic fundamentals, meanwhile, are refusing to lower their prices.

    If tomorrow's data shows prices have plateaued or even dipped, it will be welcome news for homebuyers.

    FIONA CHAN

  2. #2
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    Default Re: End of property boom in sight?

    Yes the end is not in sight but is here already.

  3. #3
    Unregistered
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    Default Re: End of property boom in sight?

    Yes! Yes! Death to all property speculators. Burn and die!

  4. #4
    Unregistered
    Guest

    Default Re: End of property boom in sight?

    Yes! Yes! Yes! Stucked! Stucked! Stucked!

  5. #5
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    Default Re: End of property boom in sight?

    Monday March 31, 3:43 AM
    Markets brace for slump in Japanese business confidence

    A key survey of corporate Japan is expected to show that business confidence has plunged to a four-year low on worries about high oil prices, a stronger yen and a weak US economy, analysts predict.

    The Bank of Japan's closely watched "Tankan" report, due out Tuesday, is likely to show companies are scaling back their profit forecasts and investment plans as a result of the tougher operating environment, they said.

    "The deterioration of the profit environment, stemming from a slowdown in overseas economies and surging crude oil prices, as well as the appreciation of the yen, have dealt a huge blow to corporate sentiment," Mitsubishi UFJ Securities senior economist Tatsushi Shikano said.

    "Reflecting a slowdown in overseas economies, some companies now face the need to reduce production to deal with unexpected rises in inventories," Shikano said.

    Economists, on average, predict the headline index of confidence among major manufacturers slumped to 12 in March from 19 in the December Tankan survey of more than 10,000 companies, according to a survey by the Nikkei business daily.

    That would be the lowest level since March 2004. Confidence has already fallen from a two-year high of 25 seen in December 2006 but it is still much higher than a low of minus 38 struck six years ago.

    Sentiment among big non-manufacturers is expected to have deteriorated to a reading of seven from 16 in the December poll.

    The indices represent the percentage of firms experiencing favourable business conditions minus the percentage of those seeing unfavourable conditions.

    Japan's corporate sector has been a key driver of the recovery in the world's second largest economy after a decade-long slump.

    Helped by a weak yen, companies have racked up record profits in recent years that allowed them to invest heavily in new equipment and factories.

    But many firms are now looking to scale down capital spending to cope with an expected drop in earnings.

    In mid-March, the dollar fell to a 12-year low of 96 yen, far below the level companies had been preparing for at the time of the December Tankan.

    Economists are also expecting a worsening of sentiment in the March quarter among smaller companies, which employ most of Japan's workforce, due to growing profit concerns and sluggish domestic demand.

    Japan's economy is on the mend after a slump stretching back over a decade, but sluggish consumer spending has raised concern that the country's export-led recovery is vulnerable to a global economic slowdown.

    Although core inflation hit a decade high of 1.0 percent in February, Japan's central bank is seen as unlikely to raise its super-low interest rates from 0.5 percent any time soon, with some analysts even predicting a rate cut.

    Goldman Sachs Securities chief economist Tetsufumi Yamakawa is predicting a rate cut by the Bank of Japan at one of its two meetings in April.

    "The Tankan is likely to show an accelerated decline in sentiment across the broad front, forcing the BoJ to revise its economic view and scenario, which is already distant from the perception shared by the market," Yamakawa said.

    The BoJ raised interest rates in 2006 for the first time in almost six years. It hiked rates again in February last year but has held them steady since then amid domestic political uncertainty and financial market turmoil.

  6. #6
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    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Yes! Yes! Death to all property speculators. Burn and die!
    Speculators have already made tonnes of money in the last three years.

    Definitely will not "burn and die!".

    An average speculator who bought just one average condo worth $1.5 million three years ago would have earned around $1 million.

    $1 million is equivalent to approximately 20 years of "sour grape" salaries.

    If speculators who've earned $1 million will "burn and die", then what more for sour grapes who are still working very very hard everyday and yet to earn this amount of money?

    So if the speculator lives a "sour grape" lifestyle, e.g. stay in HDB flat, take public transport and eat at hawker centres ... that should last 20 years.

  7. #7
    Unregistered
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    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Yes! Yes! Yes! Stucked! Stucked! Stucked!
    Poor sour grapes are stuck at the bottom of society.

  8. #8
    Unregistered
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    Angry Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Yes! Yes! Death to all property speculators. Burn and die!
    You have such a deep hatred for people you don't even see and know. You must be very miserable and living a life like hell right now. Poor soul.

  9. #9
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    Unhappy Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Yes! Yes! Yes! Stucked! Stucked! Stucked!
    NOOOOOOOOOOOOOOOOOOOO!!!!

  10. #10
    Unregistered
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    Thumbs up Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Poor sour grapes are stuck at the bottom of society.
    Thats why these people will continue to stay in HDB and will continue to KPKB and continue to be sour grapes. I was once like them, but have decided that enough is enough and started to take some calculated risk and started vested in private property. Looking back, no regrets. The only regrets that I've got was, I should have started much earlier.

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