1 Million EC
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verykiasu2010:
Well, we can never play God... God knows when is the next crisis and how bad but we don't....so never say never...
prices will never go back to 2003 level of SARS. Even with the H1N1 last year, people already know what to do and there was no crisis
and there won't be another crash like 2007/2008 : look at Euro zone, they learnt from the US' meltdown of 2008 and all EU gov'ts came together to solve the problem and thus no meltdown in Euro zone in 2010 even though the PIGS countries are near bankrupt (Portugal, Italy, Greece & Spain)
don't bet another crisis of the same magnitude of SARS or financial system meltdown. all the governments learnt the lessons and ready credit are on standby
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I think I better start planning with hubby to purchase a freehold unit/property. Just in case property prices go beyond our children’s reach, at least he has a roof over his head.
Will we become like US - where most people actually RENT rather than OWN the property?
Another thought: Whatever happened to ‘subsidized’ housing? -
ksi:
Well, we can never play God... God knows when is the next crisis and how bad but we don't....so never say never...
agreed. never says never
but history won't repeat so soon, and the structure of the SG economy is markedly different from the last 20 years, and it won't revert to the old economy any more
having said that, if u have ready cash, keep them ready to grab any opportunity that may come along
I know many people have missed the bus, and hoping that it will return sooner than expected -
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
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titank:
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
answer is never.
just like how our parents had full pensions, full healthcare cover (even including spouse)... those days, like policemen wearing shorts, will never come back again.
but I believe that a housing price correction will come soon. it might not be a large crash, but this rate of growth cannot be sustained. with the influx of hdb flats dd will not be so high, and hopefully the market will regain some sanity. -
titank:
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
during the 1986 recession, graduates starting pay was S$500 per month, that is if they are lucky to be offered a job
in that kind of situation, HDB flats were much cheaper, and resale flats were priced by HDB-posted price......3 room model A cost S$57k only -
titank:
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
My parents still live in the first-generation HDB, first-satelite town of Toa Payoh, in the first and only (4-room) flat they bought for the grand total of S$8,500 in 1970.
My mom is on pension and my Daddy freeloads on her, he's a first-of-his-kind stayhome Dad :love: -
If I did have a million (chance upon a lucky lottery number?), I’d save and invest it for DD. Who knows how expensive life and things will get in the future?
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titank:
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
err... sorry but isn't that like asking when noodles will be sold at 20 cents a bowl... -
We can’t expect houses to be so cheap but at least it must be a reasonable price - especially for public housing.
For most of us, it will take 30yrs for us to pay off fully for our first home. For those who are lucky, they may get to upgrade a few years down the road.
My mum told me that she finished paying off for her current flat within 10 years and had the rest of her career years to build up her CPF. So now that she’s nearing retirement age, she knows that she can fend for herself without having to stretch out her hands for money from her kids cos she knows that we have a heavier burden.
They should rectify the prices of public housing soon - so that more young couples will be able to afford them and settle down earlier to start having kids earlier too. It’s a vicious cycle!
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