Property market sentiments?

[blackswan]

All public for those whom have an internet connection.

We cannot say we have not been warned.


By Eric Martin
June 24 (Bloomberg) -- The Standard & Poor’s 500 Index is mirroring moves in oil and metals by the most in 53 years, jeopardizing strategies that seek to smooth out returns through diversification.
The CHART OF THE DAY shows the relationship between the S&P 500 and the Reuters/Jefferies CRB Index, which tracks 19 commodities, for the past 20 years. Their so-called correlation coefficient based on percentage changes over the past 60 days climbed to 0.74 on June 22, the highest in the two decades shown on the chart and in Bloomberg data going back to 1956. Readings of 1 mean prices are moving in lockstep.
“They’re kind of the same trade, a bet on improvement in the economy,” said Jeffrey Kleintop, who helps oversee $233 billion as chief market strategist at LPL Financial in Boston.
“I don’t think you’re diversified just because you have stocks and commodities in your portfolio.”
The S&P 500 has climbed 33 percent from a 12-year low on March 9 amid signs the deterioration in the U.S. economy was slowing. The CRB Index surged 25 percent from the almost seven- year low reached on March 2.


By Jeff Kearns
June 30 (Bloomberg) -- The drop in the Chicago Board Options Exchange Volatility Index below its level when Lehman Brothers Holdings Inc. collapsed left the benchmark gauge of U.S. options prices 26 percent above its average.
A four-month rally in equities pushed the VIX to 25.35 yesterday, down 37 percent for the year and giving it the first close below 25.66, the level before Lehman filed the biggest- ever bankruptcy on Sept. 15, 2008. The index had declined 69 percent from its record of 80.86 on Nov. 20, 2008. Today, the VIX increased 3.9 percent to 26.35.
Above-average volatility shows traders are still paying up for insurance to protect against losses in the Standard & Poor’s 500 Index. More gains depend on investors overcoming the remaining skepticism, sometimes called the “wall of worry,”
spurred by last year’s 38 percent slump in the equity index, the steepest since 1937.
“It’s still elevated because people aren’t 100 percent sure this is all over,” said Stefen Choy, founder of Livevol Inc., a San Francisco-based provider of options market data and analytics. “Everyone is waiting because they know the worst is over, but they don’t know how fast the recovery is going to be.”
The VIX slipped 2.2 percent to 25.35 yesterday. The S&P 500 added 0.9 percent to 927.23, extending its best quarterly advance since 1998, as energy producers gained with the price of oil. The benchmark index for U.S. equities climbed 37 percent from a 12-year low on March 9 on speculation that the first global contraction since World War II is easing.

Signs of Recovery

In the U.S., the Conference Board’s measure of leading economic indicators increased in April for the first time since June 2008 and rose again last month. Analysts covering S&P 500 companies boosted 2009 profit estimates for the first time this year in May, weekly data compiled by Bloomberg show.
Lehman, once the fourth-largest U.S. securities firm, filed the largest bankruptcy in U.S. history on Sept. 15, prompting a freeze in credit markets. The VIX surged 24 percent to 31.70 that day.
The VIX has averaged 20.18 in its history stretching back to the start of 1990. After peaking in November, it dipped below 30 in May for the first time in eight months. The index reached an intraday record of 89.53 on Oct. 24.
The stock market has slumped in the past when the VIX traded at this level. It closed at 25.95 on June 15, 1998. The S&P 500 retreated 11 percent in the next 2 1/2 months as Russia’s debt default and Long-Term Capital Management’s failure caused losses at financial firms. The VIX stood at 25.47 on March 30, 2000, as the Internet bubble was bursting in a collapse that erased 49 percent from the benchmark index for U.S. stocks through October 2002.

Smaller Swings

The VIX is also dropping because stock-market swings are decreasing, which means dealers aren’t able to charge as much for contracts. Twenty-day historic volatility, a gauge of past price swings, for the S&P 500 has declined from this year’s peak of 51.16 on March 24 to a nearly 10-month low of 19.52.
“Option market makers have to maintain option prices at a level that reflects the actual volatility of the market,” said Dan Hutchinson, head of derivatives at Meridian Equity Partners Inc. in New York.
In February, Congress approved a $787 billion economic stimulus plan to help jump start growth and end the longest recession since World War II.
Federal Reserve Chairman Ben S. Bernanke has made unprecedented use of the central bank’s powers as the lender of last resort. He kept banks liquid by accepting bonds they can’t trade as collateral for Treasuries and bailed out the nation’s biggest insurer, American International Group Inc.
“Fear of the doomsday scenario has definitely subsided,”
said Jeremy Wien, a VIX options trader at Societe Generale SA in New York. “Given the steps the government has taken and the decrease in huge market swings, it’s entirely reasonable for the VIX to drop to these levels and possibly even lower.”

By Michael Tsang, Rita Nazareth and Adam Haigh
July 6 (Bloomberg) -- The biggest drop in U.S. options prices since 1998 masks growing anxiety over the stock market’s rebound, as traders pay more for bearish contracts than any time since before the failure of Lehman Brothers Holdings Inc.
Investors are spending the most since August 2008 to protect against a 10 percent decline in the Standard & Poor’s 500 Index versus wagers on an advance, according to data compiled by Bloomberg. That’s one month prior to New York-based Lehman’s bankruptcy. The premium on so-called put contracts increased even after the Chicago Board Options Exchange Volatility Index, a gauge of U.S. options prices known as the VIX, fell 40 percent last quarter.
Traders are locking in gains on the S&P 500, which rose as much as 40 percent since March, on concern the worst U.S.
recession in a half century isn’t abating, according to Huntington Asset Management, BlackRock Inc. and Fiduciary Trust Co. The widening gap between bullish and bearish options belies the VIX’s retreat to below its level when Lehman collapsed and comes as U.S. companies prepare to report second-quarter earnings this week.
“Too many people are thinking the worst is over, life gets better from here,” said Peter Sorrentino, who helps manage
$13.8 billion at Huntington Asset in Cincinnati. “We’re scratching our heads, going, ‘Something doesn’t feel right here.’ It’s probably better to have some insurance on the books.”

Pay-Off Price

Sorrentino, who expects the S&P 500 to retreat more than 10 percent from last week’s closing price of 896.42, said he bought options that pay off if the index declines to 775 in December.
The “strike price,” or the level at which Sorrentino can exercise the contract, implies a 14 percent slump.
The S&P 500 fell 2.5 percent since June 26, the third straight weekly drop, after a worse-than-projected decrease in employment added to concern that rising joblessness will prolong the recession. Futures on the index lost 0.9 percent as of 10:29 a.m. in London today.
After losing almost $11 trillion during a 17-month bear market, U.S. equities have recouped 24 percent of their value since March 9 on speculation that corporate profits will rebound by year-end as economic growth resumes.
The S&P 500 climbed 15 percent in the second quarter, the biggest advance in a decade, as the government and Federal Reserve pledged $12.8 trillion to combat almost $1.5 trillion in losses at the world’s largest financial companies.
The rebound caused traders to pay less for options and pushed down the VIX, a measure of the S&P 500’s “implied volatility,” or expected price swings. It fell to a low of
25.35 on June 29 from 44.14 on March 31.

Not Normal

The reading indicates a 68 percent likelihood the S&P 500 will fluctuate as much as 7.3 percent in the next 30 days, according to data compiled by Bloomberg. That compares with the VIX’s all-time high of 80.86 in November, when traders priced in a swing of 23 percent in the S&P 500.
While prices for U.S. options have fallen, they are 38 percent above the average of 20.19 for the VIX over its 19-year history, a sign that financial markets have yet to return to “normal,” according to Carl Mason, head of U.S. equity derivatives strategy at BNP Paribas SA in New York.
The VIX ended last week at 27.95. On Sept. 15, the day Lehman declared the largest bankruptcy in U.S. history, the volatility index closed at 31.70.
“There’s still an element of caution,” Mason said.
“Things have gotten to pre-Lehman levels, but I’m not sure if we can call that normal. The level of the VIX is quite elevated compared to historical levels.”

Cost of Protection

Traders are more inclined to buy insurance against stock market losses than they are to speculate on more gains, options trading shows. The implied volatility for contracts that lock in profits if the S&P 500 falls at least 10 percent in three months was 29.03 on June 29, according to data compiled by Bloomberg.
That compares with 20.20 for “call options” that pay off if the index rises at least 10 percent in the same period.
The difference between the prices of the two contracts, known as the implied volatility “skew,” steepened to 44 percent, the biggest premium since Aug. 28. The skew between contracts expiring in six months reached a nine-month high.
In Europe, demand for protection against losses has driven up skew on Dow Jones Euro Stoxx 50 Index options to the highest since November. Implied volatility for three-month bets on a 10 percent decline was 31.53 on July 1, compared with 23.08 for wagers on a 10 percent gain, according to data compiled by Bloomberg.

‘Back to Reality’

“The jury is still out on the recovery,” said Mark Lyttleton, a London-based manager at BlackRock, which oversaw
$1.28 trillion globally as of March 31. “People are feeling the ‘green shoots’ now, but that will change over the next few months as they get back to reality.”
Call options on the S&P 500 convey the right, without the obligation, to purchase the index at a predetermined price on a specific date. S&P 500 put options give the buyer the right to sell at a set price on a future date.
Traders snapped up insurance against declines in the stock market as the World Bank said that the global recession this year will be deeper than it previously forecast, U.S consumer confidence unexpectedly weakened in June and delinquencies on the least-risky U.S. mortgages more than doubled.
Job cuts will probably push the U.S. unemployment rate to 10 percent by year-end and undermine consumer spending, which accounts for 70 percent of the economy, according to economists’
estimates compiled by Bloomberg.
Earnings at S&P 500 companies have fallen a record seven straight quarters and are forecast to decrease for two more before rebounding at the end of 2009, analysts’ estimates compiled by Bloomberg show. Analysts have trimmed projections for a fourth-quarter profit increase to 61 percent from a prediction of 95 percent when stocks began rallying in March.

Not Better Yet

“While we’ve avoided the doomsday scenario, the recovery is going to be modest,” said Michael Levine, a money manager at New York-based OppenheimerFunds Inc., which oversees about $150 billion. “There’s a concern that things have moved too far, too fast. Fundamentals just stopped getting worse, they haven’t gotten better yet. It’s not going to happen overnight.”
Bill O’Neill at Merrill Lynch Global Wealth Management says the biggest decline in the VIX since 1998 shows that the appetite for protection has decreased and the premium paid for S&P 500 puts versus calls will diminish as companies start reporting second-quarter earnings this week.
Investors are paying $12.06 for every dollar of operating profit analysts estimate S&P 500 companies will generate next year, a 41 percent discount to the average of $20.45 since 1998, data compiled by Bloomberg show.

Worth the Price?

“The potential for earnings upgrades is underappreciated,” said O’Neill, the London-based strategist at Merrill Lynch Global Wealth, which has $1.1 trillion in assets.
“Valuations per se shouldn’t block an equity-market revival.
The markets will be higher by the end of the year.”
Fiduciary Trust’s Michael Mullaney disagrees and says that the economy and corporate earnings haven’t improved enough to justify piling into equities after the S&P 500’s almost 40 percent rally from its March low.
“We need to have a dramatic improvement in the economy in order to keep on feeding the elevation in stock prices,” said Mullaney, a money manager at Fiduciary Trust in Boston, which oversees $7.5 billion. “All we can say about both the economy and earnings is that the forecast is just less bad.”
“People are taking some positions betting that if things don’t improve, they’ve got some protection,” he said.

[teddybear]

Please go read the Straits Times today on proposed law to tax on capital gains from sale of properties! This is sure a dampener to property prices and will most likely affect property prices as it will kill all speculators and speculations on properties! (If economy still going down and down the drain but so many people so eager to buy properties at higher & higher prices - this is not speculation what is it?) As of now, most property stocks already crashed >6% (City Dev drop > 8%!)

[jitkiat]

Please go read the Straits Times today on proposed law to tax on capital gains from sale of properties! This is sure a dampener to property prices and will most likely affect property prices as it will kill all speculators and speculations on properties! (If economy still going down and down the drain but so many people so eager to buy properties at higher & higher prices - this is not speculation what is it?) As of now, most property stocks already crashed >6% (City Dev drop > 8%!)

Actually I just wonder what difference does it make? Previously, when you gained from property trading, you must also report to IRAS. The only thing is probably many people purposely or unintentionally evade the tax by pretending that they don't know what is the definition of "trading". This new law only makes it very clear (i.e. you have no excuse in saying you don't know what constitutes trading) since the definition of trading is now more clearly defined in terms of law as selling more than one property within 4 years. It is just like making it explicit that all profit from stock contra trading is taxable. But this definitely will force all speculators to start offloading by 1 Jan 2010.

[silver023]

If the UG govt changes the tax rules in a way which resulting in less incentive for US firms to have their businesses overseas (tax in US, tax in the countries they operate in) ... wouldn't that already cause outflow of FDI fr S'pore?? Think something along that line ... ...

Obama proposing to change US tax rules so that US companies cannot defer tax on income derived by the companies (and their subsidiaries overseas). Further details on the proposed change have not yet been released. The impact of the proposed tax rules will not be known until details of the proposed changes are known, and the changes are passed as law.

As for OECD blacklists, this should not be a major problem for S'pore as the S'pore government is proposing changes in the tax laws so that they're aligned to OECD requirements (think MOF is having a public consultation on the proposed changes).

[jitkiat]

Fengshui defence helps couple avoid property deal tax
A COUPLE who were taxed on the profits they made on a property deal appealed - and have won their case against the taxman.
Their argument in this unusual case: they sold the apartment because of its bad fengshui.
Although Singapore does not have capital gains tax, which is charged on profits from the sale of assets, many people may not know that the Inland Revenue Authority of Singapore (Iras) can tax individuals it deems to have traded in property.
The couple found themselves in that situation.
But they appealed to the High Court, and Justice Judith Prakash accepted their contention that the 1993 sale of the Waterside condo was not a trade - they had been compelled to sell it.
It is believed to be the first time Singapore courts have accepted bad fengshui as a legitimate reason for a property sale in a tax case.
But Justice Prakash did not accept the couple's reason for the sale of another property - a bungalow in Watten Close - which they said they sold after five months to avoid a lawsuit.
Under the Income Tax Act, profits made from property trades are taxable. The Act does not, however, define 'trade', but the courts consider a list of factors when assessing whether a transaction was a trade.
The criteria include the motive of the taxpayer, the length of ownership, reasons for the sale and whether the taxpayer has had many such transactions to his name.
In this current case, the couple bought eight properties and sold seven between June 1988 and March 1996.
In 1999 and 2000, Iras charged the couple tax on the Waterside apartment, the Watten Close house and two houses in Jalan Sejarah and Chatsworth Avenue.
They had made profits of over $1 million; the tax on that was about $250,000.
The couple asked Iras to review the case but this was rejected in July 2004. They next appealed to the Income Tax Board of Review on all except the Chatsworth Avenue purchase.
In December 2006, the board allowed their appeal on the Jalan Sejarah house but dismissed those on the Waterside unit and Watten Close house.
The couple then took the case to the High Court, which heard the case in May.
Their lawyer, Mr Nicholas Lazarus argued the couple had bought the properties as homes and sold them for non-commercial reasons.
A fengshui master had told them that the Waterside unit was bad for their careers and for the health of their unborn child.
As for the Watten Close house, the couple said they had a dispute with their renovation contractor, who threatened to sue them for breach of contract, so they hurriedly sold the house.
In her written judgment published yesterday, Justice Prakash said it was clear the couple were believers in fengshui, and noted that their case was supported by the fact that the money from the Waterside flat had gone into buying the Watten Close house.
But she rejected their explanation for the sale of that house as improbable.
Mr Lazarus, who has not decided whether his clients will appeal, said that this case was a timely reminder in the heat of the current property market: 'The law has always been there, but newcomers in the market may be happily buying and selling without being aware of it.'

[dtrax]

Maybe that would even more sales for new launches.. assuming investors have multiple or 1 unit(s) @ hand, they can sell/flip current one since new launch will probably take a few yrs to complete, but then 4yrs is still a rather long period making short term investors think twice about buying the next property.. any idea how much the gov is gonna charge for the tax?

[teddybear]

Capital gain tax normally is fixed at max rate (20% now)?

Maybe that would even more sales for new launches.. assuming investors have multiple or 1 unit(s) @ hand, they can sell/flip current one since new launch will probably take a few yrs to complete, but then 4yrs is still a rather long period making short term investors think twice about buying the next property.. any idea how much the gov is gonna charge for the tax?

[bargain hunter]

According to a stockbroking research report,

The new

Section 10G states that an individual who
disposes of only 1 real property on any date on or
after 1/1/2010, and has not disposed of any other
real property within 4 years prior to the disposal
of the first property, shall not be taxed for any gain
arising from such a disposal. There is however no

provision for tax loss.

The new rule will also cover (a) options for new
property launches; and (b) part disposal of any real

property, eg strata units.

and its comment is:

Of bigger short-term concern however is the likely
impact of changes taking effect in January 2010 if
implemented: will this lead to “dumping” in the
coming months by buyers who are likely to be

deemed “traders”.

[Property_Owner]

Maybe that would even more sales for new launches.. assuming investors have multiple or 1 unit(s) @ hand, they can sell/flip current one since new launch will probably take a few yrs to complete, but then 4yrs is still a rather long period making short term investors think twice about buying the next property.. any idea how much the gov is gonna charge for the tax?

Who knows the market better then us. Why they want this property gain tax? Answer is simple. Marketing is coming back again and soon. They want to earn MORE rather then the stamp fee.
For sellers with mutiple units on hand, dun have to wait till top to sell. Price is right, make good profit I sell loh. Why wait for 4 years to save a bit and lose a lot if maeket change again.

[Regulators]

how can they not have property gains tax with people earning millions from property investments like you? Small time investors with less than half a mil of total gains from pty in 4 years should be exempted.

Who knows the market better then us. Why they want this property gain tax? Answer is simple. Marketing is coming back again and soon. They want to earn MORE rather then the stamp fee.
For sellers with mutiple units on hand, dun have to wait till top to sell. Price is right, make good profit I sell loh. Why wait for 4 years to save a bit and lose a lot if maeket change again.

[Property_Owner]

how can they not have property gains tax with people earning millions from property investments like you? Small time investors with less than half a mil of total gains from pty in 4 years should be exempted.

I knew this days will come. They sure aim people like me. What to do. Increase my selling price then. Once the rules are set in, small time or big time investors do you think they care or bother.

Sigh, next year ask my wife spend less on her shopping loh

[Regulators]

it is the small time investors or i should say home-sellers that get hit. Some people may not even actually be selling for capital gain as they want to relocate, and for nothing, they have to incur the additional tax on top of stamp duty etc. for those that buy dozens of property to flip, i think they should rightfully pay the tax. but in any case, you have enjoyed years of tax exempted income and i think it is high time you paid something back to society...lol, don't grill me....

I knew this days will come. They sure aim people like me. What to do. Increase my selling price then. Once the rules are set in, small time or big time investors do you think they care or bother.

Sigh, next year ask my wife spend less on her shopping loh

[bargain hunter]

jitkiat, head and shoulders on s&p, a bearish sign or confirming at least a short term bear?

[jitkiat]

jitkiat, head and shoulders on s&p, a bearish sign or confirming at least a short term bear?

Wah .. you are monitoring by the minutes ah?

http://www.tradersnarrative.com/head...exes-2727.html

I think if today and tomorrow night close below 875 ... pretty much confirmed. A more worrying correction is oil price actually.

[bargain hunter]

that's true for oil, kind of a sign that true demand for oil is simply not there.

but no, was not monitoring by the minutes, just happened to turn to bloomberg channel and heard them blabbing about it.

Wah .. you are monitoring by the minutes ah?

http://www.tradersnarrative.com/head...exes-2727.html

I think if today and tomorrow night close below 875 ... pretty much confirmed. A more worrying correction is oil price actually.

[blackswan]

I knew this days will come. They sure aim people like me. What to do. Increase my selling price then. Once the rules are set in, small time or big time investors do you think they care or bother.

Sigh, next year ask my wife spend less on her shopping loh

How much speculation there is in the market, we will know soon from the lapsed S&P with potential buyers forfeiting their down payments.

However, as Bro Aladdin mention, this is pertaining to clearing the air on income tax and not property tax, so shouldn't be any impact on foreign speculators.

[sabian]

Property Supply
2011+2012

[sabian]

A word on the IRs. But perhaps the thing that will be on everyone’s’ lips in the next six months would be the impending opening of the two IRs.

The opening of Resorts World and Marina Bay Sands is touted by many as a potential game changer in the property sector. Over 4.5m-5m new visitors a year are expected to flock to Singapore for these IRs. And with over 20,000 new jobs expected to be created, the prospect of a knock-on effect on property demand is mouth-watering.

However, working through the numbers at the micro level paints a less upbeat picture. We understand that out of the 20,000 new jobs expected, over 50% will be targeted at locals at local wage packages. Of the remaining jobs set aside for foreigners, only 10-20% will be for managerial positions, with croupiers and dealers (estimated at less than S$2,000 per month) making up the rest.

Assuming this ratio for both IRs, our back-of-the-envelope estimation of new high-level foreign jobs works out to only 2,000. It is also questionable whether the wages of these new foreigners will be able to support property prices at current levels.

For the IRs to have a positive impact on the economy, execution will be key. The IRs are expected to enhance Singapore’s attraction as a living destination. If executed well, we believe the impact of the IRs could surprise on the upside.

from CIMB Research.

[SL]

Got to take into account the "support services" such as the oldest trade of mankind. These will take up some of the rental market.

[august]

without doubt everyone knows there is a further correction coming.. just waiting, waiting ....

[jitkiat]

without doubt everyone knows there is a further correction coming.. just waiting, waiting ....

It could also turn out that private residential index lowest point for next 3 years is Q2 2009 although investors might get lousy returns. For US stock market, I don't think there are a lot of short sellers out there even though US economy is weak because risk/reward is not attractive given that US government can suddenly announce a 2nd batch of stimulus. And I don't think showroom can be as hot once prices start to go up.

[bargain hunter]

it already feels quieter in this forum hee. i visited sophia residences yesterday and ferrell residences today, in particular, was outnumbered 30 hutton agents:1 client at ferrell. only 1 or 2 units sold. but those are bigger 3+study units. only 1 standard size of 1841sq ft for all 32 units. difference between #06 (lowest floor) to #21 is between 15xx to 16xx (just under 1700).

without doubt everyone knows there is a further correction coming.. just waiting, waiting ....

[Douk]

CNBC.com
Warren Buffett
--------------------------------------------------------------------------------

Now that he's the world's greatest living investor, there are plenty of pupils anxious to attend class.

Today (Friday), ABC's Good Morning America featured several Buffett lessons.

ALSO ON WBW: BUFFETT'S COMPLETE SUN VALLEY CNBC INTERVIEW TRANSCRIPT

In a taped interview, Bianna Golodryga asks Buffett for his "top three pieces of advice for average Americans who want to grow their savings and keep their money safe."

In this venue, there's no mention of intrinsic values, durable competitive advantages, or even buy-and-hold.

Buffett's response:

If it seems too good to be true, it probably is.


Always look at how much the other guy is making when he is trying to sell you something.


Stay away from leverage. Nobody ever goes broke that doesn't owe money.
Buffett also finds important life and investing lessons in his favorite game:
AP
Warren Buffett plays bridge at the 2005 Berkshire Hathaway shareholders meeting
--------------------------------------------------------------------------------


"In bridge, everything anybody does or doesn't do, you're drawing inferences from, including your partner and your opponents. You're working with a partner. If you don't work well with partners you're not going to have a winning bridge team over time. And everything you've learned from the past has some utility on the next hand you play. The next hand, you've never played it before and you'll never play it again in your life. But on the other hand, the problems you've solved in the past are useful in solving the problems there. And you have to keep paying attention all the time. You can't coast."

And while Buffett doesn't think that everyone should necessarily get a college degree, he does strongly believe in the value of learning, as any good teacher would.

"Generally speaking, investing in yourself is the best thing you can do. Anything that improves your own talents. Nobody can take it away from you. They can run up huge deficits, the dollar can become worth far less, you can have all kinds of things happen. But if you've got talent yourself, and you maximize your talent, you've got a terrific asset."

[jitkiat]

jitkiat, head and shoulders on s&p, a bearish sign or confirming at least a short term bear?

Head & shoulder negated. S&P500 rebounded strongly off support at 875 due to funds flowing into banking stocks. Technically, we are back to neutral rangebound trading btn 875-925 on S&P500.

For property market, the buying crowd largely ignored the weak stock market & the MOF property tax proposal ... technically very bullish signs ...guess reassuring words (government don't see excessive speculation in the market and HDB resale price is stable) from Mr Mah Bow Tan help to fuel further speculation as well

[sabian]

JK

Time for you to put up your TA analysis using the local resale property index soon?

[durian]

IMHO, with the improved GDP number and direction of STI, it looks like over the next 6 months, we will see a strong rally in our property market.

[Localite]

Property market rallying. Volume surpassed Aug 2007 peak.

[Property_Owner]

Will we be heading for a correction??

[Honesty]

Will we be heading for a correction??

Govt warn....... Singaporean cheong.......

I also don't what's the heading

Anyway, it depend on who do you want to trust.

[Localite]

Market has gone thru the roof. Apparently landed ppty prices also up. Buyers are biting even though prices up 20% in 3 months. Now it's not about greed. It's about fear of losing out on the bull run. Especially for owner occupied ppty. But I don't blame the buyers. Many of them needed to buy but have been waiting and waiting. Now all jumping in unison.