Since before I joined this forum, maybe 2010, there are already people waiting for recession. Some have rented for 6 years and still the advice is for them to rent.
No wonder the rental volume keeps going up! Great outcome for all I guess.
Originally Posted by
chandu123amtush
What goes up must come down. With the prices of property so high now, why do want to follow the crowd to buy in at even higher prices. The economy will always go through a business cycle, a boom followed by a recession. The best time to buy will be during a recession. So if you can still wait, just continue to rent and built up your cash reserve until the next recession. The increase in interest rate will kill off people who has over-stretch their finances and force them to sell, so with the cash reserve you have, you would be able to get something better than if you have just buy a property at current inflated prices.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.