Punggol East By-Election coming ? MP steps down
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Harlequin:
Please share..
Yes, you've got it, the truth and the myth is so much different!
By the way, do you know how United Square ended up in Wee Chow Yau's hand?
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@limlim: yap, outstanding loan amount, typed that a few times for her and this time got tired of typing so just put loan amount; effectively, it's not wrong to say loan amount too.
United Square? You pay me and I will tell you, money makes the world go round :boogie: -
My late ah kong always use this term:- si lang ah kar kiah! (Teochew)
Quite apt!
Oh, ya, another of his favorite:- pah si kuan sai. :rotflmao:
:offtopic: -
JannettLee:
I'm in this market long enough to see all kinds of problems and do not take hearsay for real. Those got calling was simply because they defaulted the loam payment.
Actually, I am not mad at her. I am worried for her. If she has been in this market \"long enough\", has seen a 30% correction but never seen a 50-60% correction, and has never known of bank calling on borrowers to top up their downpayments, that suggests to me that she probably started investing in property circa 1998-1999, if not later. Yes, 13-15 years experience is a long time. It is not enough for property.
The 30% correction was during the Lehmann crisis. Banks were given hushhush directives not to call up borrowers to top up. It was a shortlived correction that lasted until mid 2009.
If she was in the property market around 1995-1996, she would have known a 50-60% correction. Landed properties dropped from $500-600 psf to the $200-300 psf that banks force sold properties for. I had a relative receive a call from her bank asking her if she was interested in buying a banksale bungalow for less than $250 psf in a nice district. I was attending bank auctions where freehold properties (in places like D15 mind you!) were actually sold by banks at HDB prices - less than $250 psf, and construction cost was then around $150!
If she was in the market in the early 1980s, she would have experienced another similar bust.
Experienced hands know something is wrong with the market when 99 year leasehold condo launches in HDB estates are being snapped up at $1,800 psf when you can get a 999 year leasehold condo in River Valley Road for less than $1,600 psf.
I would urge all on this forum who are thinking of investing in another property at this juncture to do your maths very carefully. Ask yourselves whether your finances can stomach a 50% drop in the value of your investments. I am not saying that it will happen, but it may. Your Plan B must include that contingency if you are building a nest egg for yourselves and for your children. If you are not prepared for this and you get caught by it, it is not likely that you will be able recover from this in your lifetime.
If you are sitting on cold, hard cash at the moment and are thinking of putting some of it into a property to hedge against all the quantitative easing, then by all means do so. But I can tell you that most of the people in that situation are now sitting on the sidelines and playing golf or something like that. Their very simple consideration? Why jump into something now that the govt has demonstrated that it will not permit to go up much for the foreseeable future from now onwards?
Maybe the speculators are right. Maybe the government will not be able to contain the flood of liquidity and prices will still go up some more. But me? I will follow those who actually have the dosh. They do not bet against the government.
And yeah, when the HK govt slapped that stamp duty on non resident buyers, I was asking myself when was our government going to do the same? It was only a matter of time. We could all see it coming a mile away. If you did not see it, it would be wise to reassess whether your self-perceived experience and savvyness is really what you made it out to be, or was it just pure dumb luck?
Lastly, phssssst. I seriously doubt the ABSD was on the minds of Punggol East voters. :razz: -
pirate:
wise words! my uncle was faced with negative equity after he bought his condo circa 94-95. irony was that he had moved from his cushy huge EM to a tiny condo.JannettLee:
I'm in this market long enough to see all kinds of problems and do not take hearsay for real. Those got calling was simply because they defaulted the loam payment.
Actually, I am not mad at her. I am worried for her. If she has been in this market \"long enough\", has seen a 30% correction but never seen a 50-60% correction, and has never known of bank calling on borrowers to top up their downpayments, that suggests to me that she probably started investing in property circa 1998-1999, if not later. Yes, 13-15 years experience is a long time. It is not enough for property.
The 30% correction was during the Lehmann crisis. Banks were given hushhush directives not to call up borrowers to top up. It was a shortlived correction that lasted until mid 2009.
If she was in the property market around 1995-1996, she would have known a 50-60% correction. Landed properties dropped from $500-600 psf to the $200-300 psf that banks force sold properties for. I had a relative receive a call from her bank asking her if she was interested in buying a banksale bungalow for less than $250 psf in a nice district. I was attending bank auctions where freehold properties (in places like D15 mind you!) were actually sold by banks at HDB prices - less than $250 psf, and construction cost was then around $150!
If she was in the market in the early 1980s, she would have experienced another similar bust.
Experienced hands know something is wrong with the market when 99 year leasehold condo launches in HDB estates are being snapped up at $1,800 psf when you can get a 999 year leasehold condo in River Valley Road for less than $1,600 psf.
I would urge all on this forum who are thinking of investing in another property at this juncture to do your maths very carefully. Ask yourselves whether your finances can stomach a 50% drop in the value of your investments. I am not saying that it will happen, but it may. Your Plan B must include that contingency if you are building a nest egg for yourselves and for your children. If you are not prepared for this and you get caught by it, it is not likely that you will be able recover from this in your lifetime.
If you are sitting on cold, hard cash at the moment and are thinking of putting some of it into a property to hedge against all the quantitative easing, then by all means do so. But I can tell you that most of the people in that situation are now sitting on the sidelines and playing golf or something like that. Their very simple consideration? Why jump into something now that the govt has demonstrated that it will not permit to go up much for the foreseeable future from now onwards?
Maybe the speculators are right. Maybe the government will not be able to contain the flood of liquidity and prices will still go up some more. But me? I will follow those who actually have the dosh. They do not bet against the government.
And yeah, when the HK govt slapped that stamp duty on non resident buyers, I was asking myself when was our government going to do the same? It was only a matter of time. We could all see it coming a mile away. If you did not see it, it would be wise to reassess whether your self-perceived experience and savvyness is really what you made it out to be, or was it just pure dumb luck?
Lastly, phssssst. I seriously doubt the ABSD was on the minds of Punggol East voters. :razz:
the bust cycle is imminent... look at how determined and sure uncle Khaw sounded in the recent press conference. Siao liao... -
pirate:
What's that har ?
Lastly, phssssst. I seriously doubt the ABSD was on the minds of Punggol East voters. :razz:
Struggling with paying mortagage how to think about buying another property? -
pirate:
:goodpost:JannettLee:
I'm in this market long enough to see all kinds of problems and do not take hearsay for real. Those got calling was simply because they defaulted the loam payment.
Actually, I am not mad at her. I am worried for her. If she has been in this market \"long enough\", has seen a 30% correction but never seen a 50-60% correction, and has never known of bank calling on borrowers to top up their downpayments, that suggests to me that she probably started investing in property circa 1998-1999, if not later. Yes, 13-15 years experience is a long time. It is not enough for property.
The 30% correction was during the Lehmann crisis. Banks were given hushhush directives not to call up borrowers to top up. It was a shortlived correction that lasted until mid 2009.
If she was in the property market around 1995-1996, she would have known a 50-60% correction. Landed properties dropped from $500-600 psf to the $200-300 psf that banks force sold properties for. I had a relative receive a call from her bank asking her if she was interested in buying a banksale bungalow for less than $250 psf in a nice district. I was attending bank auctions where freehold properties (in places like D15 mind you!) were actually sold by banks at HDB prices - less than $250 psf, and construction cost was then around $150!
If she was in the market in the early 1980s, she would have experienced another similar bust.
Experienced hands know something is wrong with the market when 99 year leasehold condo launches in HDB estates are being snapped up at $1,800 psf when you can get a 999 year leasehold condo in River Valley Road for less than $1,600 psf.
I would urge all on this forum who are thinking of investing in another property at this juncture to do your maths very carefully. Ask yourselves whether your finances can stomach a 50% drop in the value of your investments. I am not saying that it will happen, but it may. Your Plan B must include that contingency if you are building a nest egg for yourselves and for your children. If you are not prepared for this and you get caught by it, it is not likely that you will be able recover from this in your lifetime.
If you are sitting on cold, hard cash at the moment and are thinking of putting some of it into a property to hedge against all the quantitative easing, then by all means do so. But I can tell you that most of the people in that situation are now sitting on the sidelines and playing golf or something like that. Their very simple consideration? Why jump into something now that the govt has demonstrated that it will not permit to go up much for the foreseeable future from now onwards?
Maybe the speculators are right. Maybe the government will not be able to contain the flood of liquidity and prices will still go up some more. But me? I will follow those who actually have the dosh. They do not bet against the government.
And yeah, when the HK govt slapped that stamp duty on non resident buyers, I was asking myself when was our government going to do the same? It was only a matter of time. We could all see it coming a mile away. If you did not see it, it would be wise to reassess whether your self-perceived experience and savvyness is really what you made it out to be, or was it just pure dumb luck?
Lastly, phssssst. I seriously doubt the ABSD was on the minds of Punggol East voters. :razz:
Everyone is entitled to their opinion, but i think one should be very careful that the forum is open to the general public. for all you know, there could be someone rushing to D'Leedon now............ -
toddles:
wise words! my uncle was faced with negative equity after he bought his condo circa 94-95. irony was that he had moved from his cushy huge EM to a tiny condo.pirate:
[quote=\"JannettLee\"]I'm in this market long enough to see all kinds of problems and do not take hearsay for real. Those got calling was simply because they defaulted the loam payment.
Actually, I am not mad at her. I am worried for her. If she has been in this market \"long enough\", has seen a 30% correction but never seen a 50-60% correction, and has never known of bank calling on borrowers to top up their downpayments, that suggests to me that she probably started investing in property circa 1998-1999, if not later. Yes, 13-15 years experience is a long time. It is not enough for property.
The 30% correction was during the Lehmann crisis. Banks were given hushhush directives not to call up borrowers to top up. It was a shortlived correction that lasted until mid 2009.
If she was in the property market around 1995-1996, she would have known a 50-60% correction. Landed properties dropped from $500-600 psf to the $200-300 psf that banks force sold properties for. I had a relative receive a call from her bank asking her if she was interested in buying a banksale bungalow for less than $250 psf in a nice district. I was attending bank auctions where freehold properties (in places like D15 mind you!) were actually sold by banks at HDB prices - less than $250 psf, and construction cost was then around $150!
If she was in the market in the early 1980s, she would have experienced another similar bust.
Experienced hands know something is wrong with the market when 99 year leasehold condo launches in HDB estates are being snapped up at $1,800 psf when you can get a 999 year leasehold condo in River Valley Road for less than $1,600 psf.
I would urge all on this forum who are thinking of investing in another property at this juncture to do your maths very carefully. Ask yourselves whether your finances can stomach a 50% drop in the value of your investments. I am not saying that it will happen, but it may. Your Plan B must include that contingency if you are building a nest egg for yourselves and for your children. If you are not prepared for this and you get caught by it, it is not likely that you will be able recover from this in your lifetime.
If you are sitting on cold, hard cash at the moment and are thinking of putting some of it into a property to hedge against all the quantitative easing, then by all means do so. But I can tell you that most of the people in that situation are now sitting on the sidelines and playing golf or something like that. Their very simple consideration? Why jump into something now that the govt has demonstrated that it will not permit to go up much for the foreseeable future from now onwards?
Maybe the speculators are right. Maybe the government will not be able to contain the flood of liquidity and prices will still go up some more. But me? I will follow those who actually have the dosh. They do not bet against the government.
And yeah, when the HK govt slapped that stamp duty on non resident buyers, I was asking myself when was our government going to do the same? It was only a matter of time. We could all see it coming a mile away. If you did not see it, it would be wise to reassess whether your self-perceived experience and savvyness is really what you made it out to be, or was it just pure dumb luck?
Lastly, phssssst. I seriously doubt the ABSD was on the minds of Punggol East voters. :razz:
the bust cycle is imminent... look at how determined and sure uncle Khaw sounded in the recent press conference. Siao liao...[/quote]even my resale HDB was in negative territory at that time....but it was meant for stay-in...so doesn't matter much..... -
pirate:
Nicely put! My sentiments are the same. The upside is most definitely capped. Plenty of other bullets they can yet use, capital gains tax for one.
I would urge all on this forum who are thinking of investing in another property at this juncture to do your maths very carefully. Ask yourselves whether your finances can stomach a 50% drop in the value of your investments. I am not saying that it will happen, but it may. Your Plan B must include that contingency if you are building a nest egg for yourselves and for your children. If you are not prepared for this and you get caught by it, it is not likely that you will be able recover from this in your lifetime.
If you are sitting on cold, hard cash at the moment and are thinking of putting some of it into a property to hedge against all the quantitative easing, then by all means do so. But I can tell you that most of the people in that situation are now sitting on the sidelines and playing golf or something like that. Their very simple consideration? Why jump into something now that the govt has demonstrated that it will not permit to go up much for the foreseeable future from now onwards?
Maybe the speculators are right. Maybe the government will not be able to contain the flood of liquidity and prices will still go up some more. But me? I will follow those who actually have the dosh. They do not bet against the government.
And yeah, when the HK govt slapped that stamp duty on non resident buyers, I was asking myself when was our government going to do the same? It was only a matter of time. We could all see it coming a mile away. If you did not see it, it would be wise to reassess whether your self-perceived experience and savvyness is really what you made it out to be, or was it just pure dumb luck?
Lastly, phssssst. I seriously doubt the ABSD was on the minds of Punggol East voters. :razz:
Do remember about lucky generals though.....
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In my simplistic mind, I think it's all about market timing. If someone bought a 5 room flat between 2004 to 2006 time frame, it cost under $300K. If a person buought a 5 room between 2010 to 2012 time frame, price easily hover around $600K, which is double!
So what is the implication to buyer? Bought during low time he save himeself the pain of shouldering additional $300K loan. As to the capital gain, I honestly think paper gain doesn't mean anything if a person only has one property, can't exactly sell at profit and then sleep under the bridge right? So the purchase price (loan amount) is of utmost importance to most people whom I presume only own one roof. Thus the lower the purchase price, the earlier he can become debt free.
And with lower debt, he can wait on sideline, accumulate cash and cpf for 2nd or 3rd properties during the last few years, while most is chasing the property prices, and wait for the right timing to go on property spree
By the way, I think STI is too high too.
And in the not too distant past 6 to 7 years ago, I distinctly recalled the repeated headlines in Straits Times investment pages 'Cash is King' So preserve cash and wait for the next GSS
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