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Thread: Expect false starts and slow recovery

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    Default Expect false starts and slow recovery

    http://www.straitstimes.com/Prime%2B...ry_370464.html

    April 30, 2009 Thursday

    Expect false starts and slow recovery

    Flu crisis and sub-par growth worldwide add to economic risk: MAS

    By Fiona Chan


    THE most intense phase of Singapore's recession may be over, but the economy is not going to bounce back to full health any time soon.

    Instead, the recovery will be 'slow, gradual and fraught with uncertainties', unlike the quicker rebounds that followed previous downturns, said the Monetary Authority of Singapore (MAS) yesterday.

    The central bank said in its latest Macroeconomic Review, a twice-yearly survey of the economy, that the worst economic contractions probably took place in the last quarter of last year and the first quarter of this year. The economy logged record quarter-on-quarter declines in both quarters, of 16.4 per cent and 19.7 per cent respectively.

    But the MAS stopped short of saying that the worst is over or that the recession has bottomed out. Private-sector economists say that although the worst is likely behind us, the economy could continue to contract in the months ahead, although the declines will not be as severe.

    The MAS warned yesterday that despite recent signs of a slight increase in economic activity around the world, the major economies are still 'mired in an extended period of sub-par growth' and Singapore's growth is likely to remain 'below potential' as long as that lasts.

    The new scare over swine flu, which has eerie echoes of the economically painful Sars period, has also added 'a new dimension of risk to the outlook', it said.

    Job losses are expected to rise further across most sectors as companies adjust to the new lower levels of demand. The MAS expects that by the end of the year, net unemployment excluding construction will likely surpass that recorded in the 1998 Asian financial crisis and the 2001 global tech bust. Compared to those recessions, the current downturn is the deepest and one of the longest, and stands out in being more broad-based than previous contractions, it said.

    It added that while some green shoots have emerged in the form of new manufacturing orders and stock market rallies, these could turn out to be 'false starts'.

    The purchasing managers' indexes in Singapore and around the world have indicated that manufacturing will pick up slightly, but this could simply be due to inventory restocking rather than a return of true demand, said the MAS.

    Any rises in Singapore's stock market are also more likely to be 'bear rallies' rather than sustained recoveries.

    Singapore, with its high dependence on external markets, is among the nations worst hit by the global downturn, with the economy expected to contract by between 6 per cent and 9 per cent this year. But the same openness will 'enable it to pick up strongly when the global recovery finally gets under way', said the MAS.

    Citigroup economist Kit Wei Zheng said yesterday that the MAS' comments on the economy held 'no big surprises'.

    'One of the things that came out quite clearly is that the recovery is going to be very slow and the economy will be going through a period of sub-par growth spanning a wide range of industries,' he said.

    'The bottom line is: the worst of the labour market may not be over yet and we could see more unemployment pain in the months to come.'

    But Credit Suisse economist Joseph Tan noted that there are some 'surprise factors' that could change the outlook for the economy. The main one is China, which is proving surprisingly resilient in its manufacturing, investment and retail sales numbers, he said. That could potentially help economies in the region do better than expected.

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    MAS statement is already quite neutral. Both MM and UOB's Wee think that we have another 2 years to suffer at least.

    IMO, nobody can predict the future, the best future indicator is still the stock futures and the stock market itself. The stock market typically predicts what will happen 9-12 months from now. I have grown bullish after the Swine Flu outbreak actually bcos S&P500 absorbed this extreme negative news handsomely and is about to break the all important 875 resistance tonight. If 875 is broken and support is established, i won't be surprised to see the property market recovers in Q2 2009.

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    Quote Originally Posted by jitkiat
    MAS statement is already quite neutral. Both MM and UOB's Wee think that we have another 2 years to suffer at least.

    IMO, nobody can predict the future, the best future indicator is still the stock futures and the stock market itself. The stock market typically predicts what will happen 9-12 months from now. I have grown bullish after the Swine Flu outbreak actually bcos S&P500 absorbed this extreme negative news handsomely and is about to break the all important 875 resistance tonight. If 875 is broken and support is established, i won't be surprised to see the property market recovers in Q2 2009.
    IMHO, consider S&P500 is around 1400 just a year ago, to break 875 tonight is not surprising at all. In fact, it had already been broken now.

    I am not surprise at all if S&P break 875 but I will be AMAZE AND SURPRISE if property recover in Q2 2009 due to S&P breaking 875.

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    Quote Originally Posted by apple3
    IMHO, consider S&P500 is around 1400 just a year ago, to break 875 tonight is not surprising at all. In fact, it had already been broken now.

    I am not surprise at all if S&P break 875 but I will be AMAZE AND SURPRISE if property recover in Q2 2009 due to S&P breaking 875.
    That depends on how you define "recovery". It could be V, U, L-shaped recovery. It is important that S&P500 breaks 875 soon basically this refects urgency of the demand and signal what kind of recovery is upcoming.

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    I'm new and not sure what u all means by recovery. Does having a decreasing contraction means recovery (e.g. -9%, -6%, -3%) or recovery needs to be having a positive growth (e.g. +3%)?

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    Default Laggard

    Quote Originally Posted by Allthepies
    I'm new and not sure what u all means by recovery. Does having a decreasing contraction means recovery (e.g. -9%, -6%, -3%) or recovery needs to be having a positive growth (e.g. +3%)?
    True recovery is when there's +ve growth but prices will start going up (if not already) when sentiment changes. Property prices started softening well before the GDP and URA index peaked. alway remember that figures and data are out after the fact.

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    Quote Originally Posted by jitkiat
    That depends on how you define "recovery". It could be V, U, L-shaped recovery. It is important that S&P500 breaks 875 soon basically this refects urgency of the demand and signal what kind of recovery is upcoming.
    V, U or L are commonly apply for economic. With due respect, you are the one using the term "recovery" in the 1st context. Care to illustrate your definition of recovery?

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    Quote Originally Posted by apple3
    V, U or L are commonly apply for economic. With due respect, you are the one using the term "recovery" in the 1st context. Care to illustrate your definition of recovery?
    I am a technical chartist. Recovery to me means breaking key resistance level with strong volume. The problem in Singapore is that we do not have a real-time private residential index. URA only release data every quarter so it is very hard for chartist to predict where the market is going. Two better indicators may be is the psf prices of new properties and the property stocks in Singapore. Recently, psf prices of new mass/mid market condos are inching up & property stocks start to outperform the overall STI, to me, this is a sign of recovery.

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    Default Superb Analysis by Mr Kiat

    Quote Originally Posted by jitkiat
    I am a technical chartist. Recovery to me means breaking key resistance level with strong volume. The problem in Singapore is that we do not have a real-time private residential index. URA only release data every quarter so it is very hard for chartist to predict where the market is going. Two better indicators may be is the psf prices of new properties and the property stocks in Singapore. Recently, psf prices of new mass/mid market condos are inching up & property stocks start to outperform the overall STI, to me, this is a sign of recovery.
    Oh.. Technical chartist? So in security term is comparable to TA? Technical Analysis?

    Ok, I think you will agree that recovery took place only after a bottom out right? We just have the latest ura result in mid April illustrating a -14.7% in Q109 from Q408 and this was higher than earlier -6.7%.

    So here Mr Kiat is suggesting a bottoming had already occur when 1st month of Q209 is just merely over with 4 arguements;

    1. Volume, breaking key resistence level? IF VOLUME of negative equity bail out could translate to recovery, wow.. you are better than Obama.

    2. S&P over 875? With stress result not even out? + another tons of problems..

    3. PSF price of developer sale? When a marginally increase was amplified yet Holland 20units defaulter was conveniently brush away? When advertisment keep splashing across papers/TV every now and then?

    4. Counters and STI? This is the best. A year ago, STI was well over 3000 and now in the 1800 range, so against residential index, we should see Double Bay in proportional reduce to 400+psf range but did we this? Nope. So if downward trend could not be measure in proportion basis what make one think upward trend could be? And to supplement, recent BT articulate sustainable findings of residential index against STI which only illustrate bottom out no where near.

    Wa.. Your TA could point to recovery so fast huh? Good huh.. Care to share are you with any finance house? Are your analysis pointing at STI 4500 NOW a year back?

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    Quote Originally Posted by apple3
    Oh.. Technical chartist? So in security term is comparable to TA? Technical Analysis?

    Ok, I think you will agree that recovery took place only after a bottom out right? We just have the latest ura result in mid April illustrating a -14.7% in Q109 from Q408 and this was higher than earlier -6.7%.

    So here Mr Kiat is suggesting a bottoming had already occur when 1st month of Q209 is just merely over with 4 arguements;

    1. Volume, breaking key resistence level? IF VOLUME of negative equity bail out could translate to recovery, wow.. you are better than Obama.

    2. S&P over 875? With stress result not even out? + another tons of problems..

    3. PSF price of developer sale? When a marginally increase was amplified yet Holland 20units defaulter was conveniently brush away? When advertisment keep splashing across papers/TV every now and then?

    4. Counters and STI? This is the best. A year ago, STI was well over 3000 and now in the 1800 range, so against residential index, we should see Double Bay in proportional reduce to 400+psf range but did we this? Nope. So if downward trend could not be measure in proportion basis what make one think upward trend could be? And to supplement, recent BT articulate sustainable findings of residential index against STI which only illustrate bottom out no where near.

    Wa.. Your TA could point to recovery so fast huh? Good huh.. Care to share are you with any finance house? Are your analysis pointing at STI 4500 NOW a year back?
    Well, one cup of coffee was 60/70cents 5 years ago, now is 80/90cents, one pack of rice was $8 now $13. Do you expect condo to be selling at 400+psf ?? What was your salary at 2002/2003 compared to now? Go and figure out.

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    Don't be so harsh on Mr Kiat, he is a chartist, he reads the charts, the charts shows signs of recovery, and the charts sometimes gives false signals. charts needs to have confirmation which only time will tell.


    Quote Originally Posted by apple3
    Oh.. Technical chartist? So in security term is comparable to TA? Technical Analysis?

    Ok, I think you will agree that recovery took place only after a bottom out right? We just have the latest ura result in mid April illustrating a -14.7% in Q109 from Q408 and this was higher than earlier -6.7%.

    So here Mr Kiat is suggesting a bottoming had already occur when 1st month of Q209 is just merely over with 4 arguements;

    1. Volume, breaking key resistence level? IF VOLUME of negative equity bail out could translate to recovery, wow.. you are better than Obama.

    2. S&P over 875? With stress result not even out? + another tons of problems..

    3. PSF price of developer sale? When a marginally increase was amplified yet Holland 20units defaulter was conveniently brush away? When advertisment keep splashing across papers/TV every now and then?

    4. Counters and STI? This is the best. A year ago, STI was well over 3000 and now in the 1800 range, so against residential index, we should see Double Bay in proportional reduce to 400+psf range but did we this? Nope. So if downward trend could not be measure in proportion basis what make one think upward trend could be? And to supplement, recent BT articulate sustainable findings of residential index against STI which only illustrate bottom out no where near.

    Wa.. Your TA could point to recovery so fast huh? Good huh.. Care to share are you with any finance house? Are your analysis pointing at STI 4500 NOW a year back?

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    I agree with the coffee, rice and condo. But salary, not necessary


    Quote Originally Posted by jitkiat
    Well, one cup of coffee was 60/70cents 5 years ago, now is 80/90cents, one pack of rice was $8 now $13. Do you expect condo to be selling at 400+psf ?? What was your salary at 2002/2003 compared to now? Go and figure out.

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    Quote Originally Posted by jitkiat
    Well, one cup of coffee was 60/70cents 5 years ago, now is 80/90cents, one pack of rice was $8 now $13. Do you expect condo to be selling at 400+psf ?? What was your salary at 2002/2003 compared to now? Go and figure out.
    Hey Kiat.. What talking you?

    I'm saying STI at only ONE YEAR ago and proportional measure hold no bearing because Double Bay is NOT selling at 400+psf. My goodness, you are totally out of point.

    May I suggest you read twice or thrice on my content/reply to make up your lack of apprehension skill? And reply in a better, structure way?

    And don't lose your cool manz, is it about the Double Bay? I deliberately use it as an example if you know what I mean..

    Wa.. hahaha..

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    Quote Originally Posted by hans
    Don't be so harsh on Mr Kiat, he is a chartist, he reads the charts, the charts shows signs of recovery, and the charts sometimes gives false signals. charts needs to have confirmation which only time will tell.
    Exactly, so far the market continues to prove the bulls correct, brushing aside all kinds of negative news. Today will be another key day, if S&P500 can close above 875 for a second day, it is confirmed. Taking cue from Dow futures, STI and HSI are now breaking resistance, HSI will probably close up 1000 points today if US futures continue to go up.

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    errr if you follow the replies in this thread, it is apple3 who's losing his/her cool and became emo. Kiat replies are detached and neutral. So apple3 what's your agenda?

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    Quote Originally Posted by orange
    errr if you follow the replies in this thread, it is apple3 who's losing his/her cool and became emo. Kiat replies are detached and neutral. So apple3 what's your agenda?
    hmm.. care to enlighten my area of "uncoolness"?

    emo? Well, how does Kiat coffee & tea associate with my articulation?
    You also never read, did you?

    Kiat neutral? How about clicking his nick and read some/all of his posts?

    My agenda? Nah. Just like to comment on one-sided thread. If he post like Mr Funny who sharing all kind of non-bias & un-marginalise, bullish & bearish public release news, I will say thank you and a fine gentleman indeed.

    So Mr Orange, obviously you are not reading well. Whats your agenda then? Start a flame?

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    Quote Originally Posted by jitkiat
    Exactly, so far the market continues to prove the bulls correct, brushing aside all kinds of negative news. Today will be another key day, if S&P500 can close above 875 for a second day, it is confirmed. Taking cue from Dow futures, STI and HSI are now breaking resistance, HSI will probably close up 1000 points today if US futures continue to go up.
    Well, I would said your grounds still weaks if not irrational, so to speak.

    So Q209 property will bottom out and recover if tonite S&P close 875 for a second day?

    I will try to dig this thread out in mid July when URA release Q209 result.

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    Quote Originally Posted by apple3
    Well, I would said your grounds still weaks if not irrational, so to speak.

    So Q209 property will bottom out and recover if tonite S&P close 875 for a second day?

    I will try to dig this thread out in mid July when URA release Q209 result.
    Nothing is 100% sure ... it is about probability, see my long term private residential chart in One Amber thread, 140 is indeed a good entry point.

    A few more pieces of bullish signals:
    - Terraced houses built by Fragrance land SOLD OUT in last 2 weeks in Sembawang
    - [email protected] Road @ 1350psf, almost SOLD OUT
    - Thomson The Arte @ 900-1000psf, SOLD OUT for City view facing
    - Sales for 3-b/4bedroom mass market condos accelerates in the past 2 weeks, 2-bedroom units all SOLD OUT
    - CityDev share price suddenly shoots up from $6+ to $7.2 as of now in 2 days with very high volume
    Last edited by jitkiat; 04-05-09 at 16:29.

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    that Sembawang 99LH terraces is a mystery to me..
    how come people are willing to pay that much for that ulu place?

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    Quote Originally Posted by jitkiat
    Nothing is 100% sure ... it is about probability, see my long term private residential chart in One Amber thread, 140 is indeed a good entry point.

    A few more pieces of bullish signals:
    - Terraced houses built by Fragrance land SOLD OUT in last 2 weeks in Sembawang
    - [email protected] Road @ 1350psf, almost SOLD OUT
    - Thomson The Arte @ 900-1000psf, SOLD OUT for City view facing
    - Sales for 3-b/4bedroom mass market condos accelerates in the past 2 weeks, 2-bedroom units all SOLD OUT
    - CityDev share price suddenly shoots up from $6+ to $7.2 as of now in 2 days with very high volume
    Nothing is for sure, I agree on this.

    But what I do not understand is why your illustration is always one-sided on the bullish side? Please don't mistaken, I pro on no side.

    And your selection of words is the most... ermmm..
    "Sold out for City View facing?"?
    "Almost sold-out"?
    "2 Bedder sold out"?

    How about;
    Units still available for Verdure and Arte and developer find the market still not ripe to launch more units.. Or

    2 bedders with the lower absolute price and limited units in most project tend to be the first to sold out,etc.

    And how about those tons of development still "un-sold out"?

    Same right? Why you always amplified on bullish context?
    Are you a property agent or something close?

    PS: Here you go again.. All components of STI are moving upward and yet you pinpoint CityDev. As of now 4.30pm+, the following index stocks are on double digits gain;

    CityDev 12.04%
    DBS 11.58%
    F&N 11.83%
    Olam 13.56%
    OCBC 10.54%
    SembMarine 14.22%
    SGX 11.32%
    UOB 11.30%

    See? Get what I mean? CityDev share price DON'T suddenly shoots up. Across the board all are moving upward and yet you SINGLE out CityDev? Come on.. the bigger gainer on industry are banking for godsake..

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    Quote Originally Posted by apple3
    Nothing is for sure, I agree on this.

    But what I do not understand is why your illustration is always one-sided on the bullish side? Please don't mistaken, I pro on no side.

    And your selection of words is the most... ermmm..
    "Sold out for City View facing?"?
    "Almost sold-out"?
    "2 Bedder sold out"?

    How about;
    Units still available for Verdure and Arte and developer find the market still not ripe to launch more units.. Or

    2 bedders with the lower absolute price and limited units in most project tend to be the first to sold out,etc.

    And how about those tons of development still "un-sold out"?

    Same right? Why you always amplified on bullish context?
    Are you a property agent or something close?

    PS: Here you go again.. All components of STI are moving upward and yet you pinpoint CityDev. As of now 4.30pm+, the following index stocks are on double digits gain;

    CityDev 12.04%
    DBS 11.58%
    F&N 11.83%
    Olam 13.56%
    OCBC 10.54%
    SembMarine 14.22%
    SGX 11.32%
    UOB 11.30%

    See? Get what I mean? CityDev share price DON'T suddenly shoots up. Across the board all are moving upward and yet you SINGLE out CityDev? Come on.. the bigger gainer on industry are banking for godsake..
    I singled out CityDev bcos we are in a property forum mah. Property stock price is a leading indicator of property market health. Amplify bullish context, may be a little as I have vested interest in properties. But more importantly, technical chartist analyzes chart and tries to predict the probability of upside/downside. And the fact is that the stock market brushes aside all bad news like Swine Flu and Citi/BAC requirement to raise capital and breaking key resistance level today with strong volume. This reflects an urgency to buy and buy a lot (volume) in a hurry. Since property stocks are recovering fast, there is then a high chance that the support of private residential index at 140 will hold and point to a recovery in Q2 2009.

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    How URA calculate their property index? Somehow, I find that their index always lack market by up to 3 months or more! Say for example, the property price is already down by 10% as of today, but the URA property price index only shows the price decrease 3 months or more later. As such, most likely Q2 index may drop even if physical property price increases now (which will only translates to URA property index increase in Q3).

    Quote Originally Posted by jitkiat
    I singled out CityDev bcos we are in a property forum mah. Property stock price is a leading indicator of property market health. Amplify bullish context, may be a little as I have vested interest in properties. But more importantly, technical chartist analyzes chart and tries to predict the probability of upside/downside. And the fact is that the stock market brushes aside all bad news like Swine Flu and Citi/BAC requirement to raise capital and breaking key resistance level today with strong volume. This reflects an urgency to buy and buy a lot (volume) in a hurry. Since property stocks are recovering fast, there is then a high chance that the support of private residential index at 140 will hold and point to a recovery in Q2 2009.

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    agree with apple3 on Jitkiat's comments.

    back to demand and supply.

    zoom down into demand and supply by category.
    and role of banks and valuers in the whole equation.
    investors/owner occupied plays another part in the equation. perpectual rental income affect selling price
    prices in prime district....D9 $1900psf dropped to $1200psf but psf in D15 calling for $1000psf
    + stock market (positively corelated to property prices)

    = outlook for property market.

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    logically, it is the demand and supply for everything, propery, stocks etc. but all alot of people are followers ( herd mentallity, one run all run. one hide all hide).

    Take property for example, when no one buys, all don't buy, all wait and see. When one buys, all rush in to buy.

    Today STI up 100+ points, cos there are signs of recovery. SIGNS only.

    Quote Originally Posted by dmonddd
    agree with apple3 on Jitkiat's comments.

    back to demand and supply.

    zoom down into demand and supply by category.
    and role of banks and valuers in the whole equation.
    investors/owner occupied plays another part in the equation. perpectual rental income affect selling price
    prices in prime district....D9 $1900psf dropped to $1200psf but psf in D15 calling for $1000psf
    + stock market (positively corelated to property prices)

    = outlook for property market.

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    Always like that. If tomorrow STI up again, then many will CHEONGgggg IN ah!

    Quote Originally Posted by hans
    logically, it is the demand and supply for everything, propery, stocks etc. but all alot of people are followers ( herd mentallity, one run all run. one hide all hide).

    Take property for example, when no one buys, all don't buy, all wait and see. When one buys, all rush in to buy.

    Today STI up 100+ points, cos there are signs of recovery. SIGNS only.

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    Foremost, maybe we could keep this exchange be "dynamic" & constructive yet no hard feeling. K? coolz.

    I singled out CityDev bcos we are in a property forum mah.
    Then why not Capitaland, Capitamall & HKLand + another 2 diverse SPH & F&N? They are also index stock like Citydev in STI. Why? Because City had a high double gain? or Capitaland underperform?

    Property stock price is a leading indicator of property market health.
    This is debatable. But, even if it an indicator, the react time is widely accepted to be 6mths by industry standard. Even analysis in BT said 9mths. And you are talking abt Q209, now?

    technical chartist analyzes chart and tries to predict the probability of upside/downside
    Precisely I'm trying to emphasize that since STI drop from 3300 a year back to now 2000 and property price did NOT correct downward proportionly, how could you then chart upward by proportion against STI or even S&P?? Goodness! You never answer this question yet bring kopi and tea out..

    And the fact is that the stock market brushes aside all bad news like Swine Flu and Citi/BAC requirement to raise capital and breaking key resistance level today with strong volume.
    It double edge sword my friend. The fact that the market is brushing away the bad elements and YET there are little ground to sustain the rally is causing some nerves tweaking. We may be seeing punters and not investors back in the market.

    Amplify bullish context, may be a little as I have vested interest in properties.
    Nope. You "glorify" bull a lot.. which is more than a little but less than too much. Expecially after you committed DB. I have covered most of your threads before I launch this crusade.

    I mean it alright to be bullish especially if so much effort, time and research had been conducted in search of your dream home. Which I think by now you are a Simei prop expert and I should have congrat you of upgrading from the 85% with a nice built-up by UOL, so to speak. But, I don't see the point of zooming in selective context and amplify it. A sin call "mis-leding" tend to commit in the process.

    Coolz..

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    Quote Originally Posted by dmonddd
    agree with apple3 on Jitkiat's comments.

    back to demand and supply.

    zoom down into demand and supply by category.
    and role of banks and valuers in the whole equation.
    investors/owner occupied plays another part in the equation. perpectual rental income affect selling price
    prices in prime district....D9 $1900psf dropped to $1200psf but psf in D15 calling for $1000psf
    + stock market (positively corelated to property prices)

    = outlook for property market.
    Wa.. you compact everything huh..

    Some smaller and less cap developer who commit line of credit from bank base on earlier business plan and projection may face problem with builder like Lian Beng/china construct. Sigh.. long story, just to highlight there are more to it.

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    Quote Originally Posted by teddybear
    How URA calculate their property index? Somehow, I find that their index always lack market by up to 3 months or more! Say for example, the property price is already down by 10% as of today, but the URA property price index only shows the price decrease 3 months or more later. As such, most likely Q2 index may drop even if physical property price increases now (which will only translates to URA property index increase in Q3).
    They have to lack behind. Because they are using factual statistic for illustration.

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    Yes...herd mentality is always the driver. but what differentiate between a winner and a loser in any market.

    Agree that it is the same for any asset - stocks, properties, bonds....other investment assets

    Swine flu under control? yes from action of the health ministry in most countries.

    banks - still lending. yes but lower financing margin and selective, i.e. forcing spending and differentiating between investors and owners. ask any bank whether they are prepared to fund property investors/developers. Slim chances. Foreign investors coming in - attractive returns but they also have their own bankers who are concerned about value of their investments depreciating further, esp. when they are investing abroad.

    valuer - giving the same value as selling price. Nope. they do desktop valuation, based on historical transacted prices. Otherwise, they wont be running business of valuation but athe business of fortune telling/property investors.

    jobs are increasing and retrenchment rate is low. any lay man will be able to tell from mushrooming of hawker stalls and retail sales

    your neighbors buying new cars. yes because COE lowest over the years and seen the bottomline.

    Consumer wise on spending with savings culture as always

  30. #30
    Join Date
    Apr 2009
    Posts
    407

    Default

    Quote Originally Posted by hans
    logically, it is the demand and supply for everything, propery, stocks etc. but all alot of people are followers ( herd mentallity, one run all run. one hide all hide).

    Take property for example, when no one buys, all don't buy, all wait and see. When one buys, all rush in to buy.

    Today STI up 100+ points, cos there are signs of recovery. SIGNS only.
    then you take buffet advises loh;
    Fear when others is Greedy, And Greedy when others Fear.

    But personally I like this one by Rich Daddy Poor Daddy;
    something like dat;

    The Rich buy and acquire Asset.
    The Poor only have expenditure.
    The Middle-Income buy Liability thinking they are Asset.


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