These three are very dangerous words, as they have turned many people into Straits Times forum complaint writers.Originally Posted by ronyyk76
These three are very dangerous words, as they have turned many people into Straits Times forum complaint writers.Originally Posted by ronyyk76
The aim of the complaint writers are to make their voices heard so that they can buy at a cheap price?
Originally Posted by jlrx
Originally Posted by teddybear
fret not, nowadays boom & bust cycles getting shorter it seems
Wad is their so-called cheap.?? By 10%, 20%, OR lower than the bottom.?Originally Posted by teddybear
Even prices fluncatuate by 5-10%, trust me. The buyers wont bite.
In the past, i alway tag along agent frzs,and seen many diff buyers. Part of gaining experience and knowledge.
Tampines 4A HDB 26yrs OLD flats,prices are holding strongly at 380k-400k bcoz of amenties.
CHeck out the HDB prices in Simei, and we will know wad price levels.
I wonder how will these mass market condo to come down to this levels.
Seriously i holding back the sale of mine,for some forumer mentioned. Properties are not meant to sell,unless upgrading of portfolio.
IN Dec 2008- March 2009, prices were attractive.. Buyers maintaining the wait and see mentality.Originally Posted by august
From Now til future, they are still maintaining the wait and see mentality.
Wadever Boom & Bust cycles, buyers still wait and see mentality.
* Best is we buy for them,sell for them. And let them pocket the profits. Thats what they want.
These buyers never make it BIG,either follow thee herd or dare not venture in high risks high returns.
Wad they want is NO RISKS,and GURANTEE RETURNS!!
wo bo,i also want.
As far as I know, they want to be as cheap or even cheaper than 2003-2005 lows then that is called cheap, especially when they said Singapore's recession this time is the worst since independence and worse than 2003-2005 mah. If not, they will keep making noise and pointing fingers from HDB faults to immigrants & PRs faults to developers faults to even Ministers faults (but not themselves for not buying when properties are as cheap as during 2003-2005).
Originally Posted by jwong71
Really? Regarding of how many boom & bust cycles, they probably will be waiting & waiting without taking any action (just like in past few months & even now).
Originally Posted by august
Smtimes i dont know to pity or despise them.Originally Posted by teddybear
I got window shopper buyers,i just seriously looked down man. That kinda of feel is, bo money. Wan act like they have a choice to choose the houses.
Is the other way round, houses choose buyers. Not shallow pocket buyers choosing houses.
I can guarantee that even if prices go back to 2003-2005 level, these people will not buy.Originally Posted by teddybear
How do I know? Because these people's love-hate relationship with private property is exactly the same mentality that I have with GCBs. I am always "pretending" that I want to buy, but the truth is, I cannot afford.
Even during 2003, when the price of some GCBs came down to $500 psf, I still did not buy. If I had bought then, I would have made around $10 million!
Instead I went to buy an en bloc apartment, which made me only a small fraction of this amount.
Since I cannot talk about GCBs in real life, I can only talk about them in this forum.
Guess whose house is this?
OK,i admit. Was holding onto Melville park and The Infiniti earlier. Holding power not soo strong. Until i let go one.Originally Posted by ronyyk76
Now left with one,after all the profits of 200k+ cash(not inclusive of initial downpayments). i guess you got your answer to our holding power. Especially those can afford 1-2units at a go,and flipped out
Last edited by jwong71; 08-11-09 at 23:55.
I certainly hope is not alot coz is a lose-lose situation. Waste sellers' time and i'm sure those pple who act rich and go window shopping wun feel gd either.. see pple own nice places but cannot afford.Originally Posted by jwong71
Price is what you pay, Value is what you get.
View your house don't buy doesn't mean the buyer dont have money.. it might mean your house is not worth the price you are asking.
It's all a matter of perspective from both sides.
WaterMelon Seller always think his watermelons are the sweetest and should sell the highest.. and WaterMelon Buyer also think they have a lot of watermelon stalls to choose from and they can afford to take their pick of watermelong at the right price.
Live and let live man..
I am hoping the economy will recover ASAP so that the interest rate will rise to 4% - 5%. Personally I don't think there will be a double dip and property prices may still go up next year. Increase in interest rate will be be a real test on the holding power of owners and screen out who are the genuine buyers that have buying power and who are the speculators. With high interest rate, S'pore property prices should stabilise as many working class S'poreans are unable to sustain the current property prices if rental continues to be weak. Mfg sector which is 30% of S'pore GDP continues to retrench people even as the economy recovers and relocate their factories to lower cost countries like China. S'pore strong currency just make us more expensive. Many MNCs are moving out or already planning to move out of S'pore. Can the rest of the sectors make up for the loss from mfg sector especially in the no of jobs ? That will be an important thing to watch.
UNfortunatly mine 1044sqft were asking at 580k valuation, while the 936sqft valuation 560k are asking 600-620k. In this case,alrdy cheaper than other units were rundown,which i viewed with the buyers and agents.Originally Posted by focus
Im alway ready for a realistic offer. Only some buyers want to try luck. Cheap is not good enough for them, they wan the cheapest.
If they can get for free,that will be the best
There's the period from Dec til March, alot are browsers as they are holding to the wait and see mentality.Originally Posted by dtrax
Now also got browsers,that just wan shop for fun.
My frz agent,had saw a same guy at 4 different showflat since Dec til June,and in the end the guy never purchase anything. As my frz been following up on his case. Now with current price increase, he wont swallow the prices increase differences.
asia is booming ... is it becos we are doing better than europe and US ?Originally Posted by jwong71
after lehman .. alot of liquidity moved out of europe and US into asia ..
when USD weakening, countries like China/HK , whose currencies are pegged to USD, see their value weakening ..hence they 'spend' the weakening USD, by buying assets ..like properties, gold ..
its a matter of time, europe and US will recover..
meanwhile asia property prices are going crazy ... an asset price bubble is definitely forming ..and i am sure the asian govts are all afriad that asia is falling into what cos the collapse in US/europe ..
so they start to take / implement measures.. not very harsh ones, but a reminder to all to 'watch out' .. and if the prices continue to rally, i am sure more measures will come ..
the reason why they are not HARSH is becos they dont want to liquidity to just 'leave' immediately .. cos if it does...the small bubble will burst and alot of people will lose alot of money ..
asian govt are afriad of the bubble ..and the same time, they are afriad that 'money' moves out out asia ..
i personally think prices shold stabilise for now .. until 2011-12 when the massive number of prime projects TOP ..rental will continue to fall ..
lets wait and see.. more measures will come .. start from china, then HK, then spore ...
Speculative bubble in property market a risk, says MAS
By Yasmine Yahya, Channel NewsAsia | Posted: 09 November 2009 1252 hrs
SINGAPORE: The rise in risk appetite and sharp rebound in financial markets since the start of the year may have outpaced economic fundamentals, according to the Monetary Authority of Singapore (MAS) in its annual Financial Stability Review on Monday.
The MAS noted that although Asia has bounced back from the financial crisis faster than expected, the global economic outlook remains uncertain.
This is because the nascent recovery in the world's biggest economies – the United States, Japan and the European Union – has largely been dependent on government stimulus.
There is a risk that once these stimulus policies are withdrawn, their recoveries will take a hit, thus affecting Asian economies, especially those that are export-dependent such as Singapore.
If economic recovery stalls, corporate earnings may come under renewed strain and corporate refinancing may become more difficult. MAS added that unemployment could also rise if the economy slows again.
Despite such uncertainties in the global outlook, Singapore's property market has taken on its own dynamic. Private home prices rose almost 16 per cent in the third quarter – the highest quarterly increase in almost three decades.
This has led MAS to warn that a speculative bubble could form.
MAS said although the government has already introduced several measures in September to temper the exuberance in the market and pre-empt a bubble, more measures might be needed.
But the nature and timing of such measures would have to be balanced against the still uncertain path of economic recovery.
On a brighter note, MAS said local banks and insurers have remained resilient through the crisis, maintaining high capital and liquidity ratios. It added that local banks' earnings have dipped but remained above market expectations.
This, together with successful capital-raising efforts during the crisis, should enable the local banks to absorb further credit losses in the coming quarters.
- CNA/so
Originally Posted by sleek
ahhahahha
i am faster than CNA and MAS
wah, MAS must have overheard proud owner talking LOL.
Originally Posted by sleek
In Reporter style
Speculative bubble in property market a risk, says MAS
By Yasmine Yahya, Channel NewsAsia | Posted: 09 November 2009 1252 hrs
SINGAPORE: The rise in risk appetite and sharp rebound in financial markets since the start of the year may have outpaced economic fundamentals, according to the Monetary Authority of Singapore (MAS) in its annual Financial Stability Review on Monday.
The MAS noted that although Asia has bounced back from the financial crisis faster than expected, the global economic outlook remains uncertain.
This is because the nascent recovery in the world's biggest economies – the United States, Japan and the European Union – has largely been dependent on government stimulus.
There is a risk that once these stimulus policies are withdrawn, their recoveries will take a hit, thus affecting Asian economies, especially those that are export-dependent such as Singapore.
If economic recovery stalls, corporate earnings may come under renewed strain and corporate refinancing may become more difficult. MAS added that unemployment could also rise if the economy slows again.
Despite such uncertainties in the global outlook, Singapore's property market has taken on its own dynamic. Private home prices rose almost 16 per cent in the third quarter – the highest quarterly increase in almost three decades.
This has led MAS to warn that a speculative bubble could form.
MAS said although the government has already introduced several measures in September to temper the exuberance in the market and pre-empt a bubble, more measures might be needed.
But the nature and timing of such measures would have to be balanced against the still uncertain path of economic recovery.
On a brighter note, MAS said local banks and insurers have remained resilient through the crisis, maintaining high capital and liquidity ratios. It added that local banks' earnings have dipped but remained above market expectations.
This, together with successful capital-raising efforts during the crisis, should enable the local banks to absorb further credit losses in the coming quarters.
- CNA/so
Singapore and wakeboarding
H88
Monday, 9 November 2009, 13:43
The Monetary Authority of Singapore has released its annual Financial Stability Review today. It's really long and boring but our expert analysts have managed to distill it down to something much more entertaining - wakeboarding.
Yes, you see it's like this: The boat (global economy) needs to keep moving for the rider (Singapore) to stay afloat. If the boat stops or slows down, we sink. We also have to keep our eyes peeled for obstacles (speculative bubbles) in the water that may hit us.
So far we're still going slow and still afloat, but who knows what might happen. The boat driver may fall asleep (US and Europe removes their stimulus package), a huge wave may hit us (H1N1 epidemic) or we try a funny stunt that we might not pull off (Integrated Resorts/Casino?).
Hey Reporter and Jlrx, can we trouble you to post this warning from MAS about the formation of a property bubble in Singapore and possible further cooling measures from govt in every condo threads since it affects ALL properties in Singapore
http://www.channelnewsasia.com/stori...016913/1/.html
For those who are interested, you may just read Pg 61 of MAS Nov 2009 FS Report.
http://www.mas.gov.sg/resource/publi...20Nov%2009.pdf
Subjects such as oversupply, undersupply, asset inflation, liquidity, GLS, cooling measures, increase in foreigner buyers, increase in population, URA quarterly price index, recession, economy recovery, etc., which affect all properties, are posted in the general section.Originally Posted by HP65
However, nobody can stop you, the fortune teller who can tell a person's background and what he has invested in, from posting general news in every threads. We have experienced that in 2008 before.
Yours is not truly "Reporter style".Originally Posted by bargain hunter
Let me show you "Reporter style".
But the nature and timing of such measures would have to be balanced against the still uncertain path of economic recovery.
Now let me write my analysis ...
I bet the MAS will NOT dare to try anything drastic.
The MAS should know very well, from experience, that once the property market crashes, it doesn't go down just a few percentage points.
When it crashes, it crashes. And then there will be blood all over the place - the blood of lots of innocent bystanders (i.e. not Property_Owner, Reporter or me) but people who may lose their rice bowls; people who may commit suicide; or people who may uprise.
You have to read between the lines, e.g. Straits Times Nov 9, 2009:
'Price levels and transaction activity bear close monitoring,' the MAS said. 'As Singapore emerges from recession and with the market expecting low interest rates to persist for some time, the risk of a renewed escalation of speculative momentum cannot be discounted.'
Asian central banks may also have to tighten monetary policy before developed economies do, which could lead to problems, said the MAS. If Asian countries raise rates much earlier than the developed world, more money would flow into the region, putting pressure on the exchange rate and potentially resulting in asset price bubbles.
Let me translate this into simple English:
What MAS is saying is "HELP!"
Similar thoughts but put it in other way, Ah Beng style :
"You all hah, bloody idiots. Economy still haven't recover and you all already putting money into properties and make it rise. We are now blamed for inflation with so many complain kings already complaining. These people also sour grapes lah. They think we so goondu to follow what they want meh? But anyway hor, I must scare these people lah so that the wannabes who don't have enough money don't over leverage by following into buying properties otherwise when interest rates goes up they complain left right centre again!. But hor, what do you expect us to do? We don't control interest rates. Even S$ at historical highs foreigners also convert into S$, we can't possible let S$ go higher right? Otherwise exports will be hit more badly. Also hor, election coming. Must try to please all sides lah. Our jobs kanna sai leh, cannot please everybody! *%#$*()!~+/<>. "
Originally Posted by jlrx
There is no reason why the economy has to recover in order for property prices to rise.Originally Posted by teddybear
What is happening now is not so much that property prices are rising, but that money is being devalued by Obama printing lots of it.
As I am writing this, gold has just smashed through US$1,100/oz. and is now trading at US$1,107/oz.. What has that got to do with the economy?
If we price our properties in gold, then property prices have not risen at all! What property bubble are we talking about?
Why don't we talk about a "gold bubble"? "oil bubble"? "commodity bubble"?
The only "bubble" is the US economy, which was based on Madoff/Lehman-styled bullshit, has finally been exposed and now they are printing money like there is no tomorrow to try to save it.
This will go on for at least the next two hundred years because frankly I don't know who will actually buy a car made by General Motors? Does anyone here in this forum drive a car made by General Motors?
How is their employment going to go up when they make things that nobody wants to buy (except themselves)? The only thing they are good at is transferring the retirement funds of Singapore and Hong Kong pensioners into their Lehman Brothers' bonus pool.
So interest rates will be near zero for at least the next two hundred years, and since MAS said that Asia cannot raise interest rates till the US does, property should be a safe investment for at least the next two hundred years.
At least Obama can't print a million Ardmore Parks tomorrow.
Everyone should go watch "Capitalism: A Love Story"...
Interesting thesis but we should give the US more credit since there are other individuals & companies like Gates and Jobs & Google creating real intellectual capital and implying future wealth. Without these the global engine of growth will grind to a halt.Originally Posted by jlrx
Meaning no foreigners will be able buy Singapore condos. As moneyspinner say the masses cannot touch the prime condos whilst the rich locals go for landed.
Honestly I would be more concerned if the printing stops.
Then its time for the Rich to start the buying spree again..Originally Posted by andy
Originally Posted by jlrx
read my input earlier