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Thread: Probably no property bubble here yet: MM

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    Default Probably no property bubble here yet: MM

    http://www.straitstimes.com/PrimeNew...ry_545860.html

    Jun 26, 2010

    Probably no property bubble here yet: MM


    THERE is probably no bubble in Singapore's property market, Minister Mentor Lee Kuan Yew said yesterday.

    The sharp price rises that have been seen are 'part of the total liquidity in the whole world system', said Mr Lee, noting that interest rates are low, and foreigners still see properties as affordable.

    'Even if we cap our excess, people in Hong Kong, Indonesia, will say, compared to what I have to pay, Singapore is cheap, let's buy it,' he added.

    'And apart from landed properties, they can buy into any condos.'

    Mr Lee, who was speaking at a dinner hosted by the Association of Banks in Singapore, said that the Government is convinced that there is real underlying demand for residential property.

    'So it's probably not a bubble yet,' he added.

    Still, he pointed out that the Government has taken measures to address concerns relating to the market overheating, including releasing more land to developers and putting in place more stringent rules for buyers when borrowing from banks to finance property.

    'More land is being released, to dampen the enthusiasm of everybody rushing for the latest release, and we've told the banks to be more prudent and have a higher downpayment,' said Mr Lee.

    'These are the precautions we can take, but it does not stop the Indonesians or the Thais or the Malaysian Chinese or the Filipino Chinese from coming here and saying, 'Compared to what I have to pay in my country, this is cheap'.'

    Mr Lee was responding to a question by a Standard Chartered banker who had asked about whether he was worried about property prices here.

    The banker had also tacked on a second question: 'Can we expect elections anytime soon?'

    To that, Mr Lee replied: 'I am not the Prime Minister, I don't decide. And anyway it's got nothing to do with a property boom.'

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    Quote Originally Posted by mr funny
    http://www.straitstimes.com/PrimeNew...ry_545860.html

    Jun 26, 2010

    Probably no property bubble here yet: MM


    THERE is probably no bubble in Singapore's property market, Minister Mentor Lee Kuan Yew said yesterday.
    this statement has a bit of uncertainty .. as well as 'cover my ass' in case there is a bubble

    The sharp price rises that have been seen are 'part of the total liquidity in the whole world system', said Mr Lee, noting that interest rates are low, and foreigners still see properties as affordable.
    this statement has more confidence

    'Even if we cap our excess, people in Hong Kong, Indonesia, will say, compared to what I have to pay, Singapore is cheap, let's buy it,' he added.

    this statement is faulty .. Malaysia is lagi cheap

    'And apart from landed properties, they can buy into any condos.'

    Mr Lee, who was speaking at a dinner hosted by the Association of Banks in Singapore, said that the Government is convinced that there is real underlying demand for residential property.

    'So it's probably not a bubble yet,' he added.

    Still, he pointed out that the Government has taken measures to address concerns relating to the market overheating, including releasing more land to developers and putting in place more stringent rules for buyers when borrowing from banks to finance property.

    'More land is being released, to dampen the enthusiasm of everybody rushing for the latest release, and we've told the banks to be more prudent and have a higher downpayment,' said Mr Lee.

    'These are the precautions we can take, but it does not stop the Indonesians or the Thais or the Malaysian Chinese or the Filipino Chinese from coming here and saying, 'Compared to what I have to pay in my country, this is cheap'.'

    Mr Lee was responding to a question by a Standard Chartered banker who had asked about whether he was worried about property prices here.

    The banker had also tacked on a second question: 'Can we expect elections anytime soon?'

    To that, Mr Lee replied: 'I am not the Prime Minister, I don't decide. And anyway it's got nothing to do with a property boom.'
    then make you SM for what ?
    your role is to mentor the ministers ..can u dare say you have no say in decision making ?

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    Quote Originally Posted by proud owner
    then make you SM for what ?
    your role is to mentor the ministers ..can u dare say you have no say in decision making ?
    I can't decide. I can only influence.

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    My wife always tell me, I decide on Big issue and she will take care of all the small ones. But she will decide which issue is the big one. LPPL

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    Quote Originally Posted by TOP
    My wife always tell me, I decide on Big issue and she will take care of all the small ones. But she will decide which issue is the big one. LPPL

    haha......a good one!!! so u have no headache what....all issue go to yr wife become small issue

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    Quote Originally Posted by TOP
    My wife always tell me, I decide on Big issue and she will take care of all the small ones. But she will decide which issue is the big one. LPPL
    No wonder many Singaporean women cannot find husbands and many Singaporean men prefer to PURCHASE Vietnameses wives

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    Quote Originally Posted by sealover
    No wonder many Singaporean women cannot find husbands and many Singaporean men prefer to PURCHASE Vietnameses wives
    many more! husband cannot have own bank acct...must only have share acct with them and only they can have their own acct....simply means ur $ is their $ and their $ is their $....always listen to these sort of sob stories from frens

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    Quote Originally Posted by devilplate
    many more! husband cannot have own bank acct...must only have share acct with them and only they can have their own acct....simply means ur $ is their $ and their $ is their $....always listen to these sort of sob stories from frens
    they learn from their female SM mah .. Ho Ching

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