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Thread: Will they ever tell the truth?

  1. #1
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    Default Will they ever tell the truth?

    https://propertysoul.com/2016/05/01/...ell-the-truth/

    Will they ever tell the truth?


    May 1, 2016

    Last week Mitsubishi Motors admitted to manipulating fuel economy test data, using methods that were non-compliant with Japanese standards. They were found to be cheating for the last 25 years. Concerns among investors on potential compensation costs and fines immediately made the dishonored Japanese automaker lose half of its market value.


    When will they come clean?

    This was not the first time. Back in 2002, the wheel on one of Mitsubishi Motors’ trailer-truck models came off and killed a pedestrian. The court found that, since the late 1970s, Mitsubishi Motors had been covering up many customer complaints of defects that should have been reported to transport authorities for recall instead of privately fixing the defects. At the end, the Mitsubishi Group bailed its subsidiary out to save the disgraced company from bankruptcy.

    Last September, German automaker Volkswagen was reported using a defeat device in diesel engine vehicles sold in America that could improve the emission test results. The engines emitted nitrogen oxide pollutants up to 40 times above US standard. The emission test cheating incident resulted in Volkswagen posting its first quarterly loss for 15 years of €2.5 billion.

    Once when I complained about a manufacturing fault in my German car, the expatriate manager took me aside and tried to bluff me into believing that the fault was the result of the way I clean my car and also the weather in Singapore. I was very sure that it was a design fault because owners of this car model talked about the same problem in the discussion forum.

    He followed by offering me a ‘special discount’ to fix the problem which I knew was a rip-off. I also read online how they outsourced the job to a company to fix it and this company was charging a much lower fee.

    The manager forgot the fact that, I may not be an auto expert, but I am not a fool. And nothing can be worse than having to face someone who goes on and on with his lies and standing there to wait patiently for him to finish his lies.

    Consumers choose car brands based on factors like reputation, reliability and durability. Is it too much to ask for honesty and integrity from the manufacturers?


    Lie to Me?

    Taiwan comic book author Jimmy Liao’s (幾米) comic books are not written for young children. Only adults, and only adults who have a lot of understanding about life can get the messages behind his drawings and the captions. His books come with short sentences and simple pictures, yet those words and images are often very powerful.

    Jimmy has a book Lie to me? (真的假的啊?) published in 2013. It is about what is real and what is fake from the author’s point of view. Below are some of the paradoxes from the book:


    Vampires are fake. Living dead are real.

    Politics are fake. Politicians are real.

    True stories are fake. Fictitious events are real.

    Happy hours are fake. Miserable world is real.

    Set captive animals free is fake. Committed a sin is real.

    Concern about others is fake. Care about ourselves is real.

    Plans are fake. Changes are real.

    Love is fake. Bread is real.

    Value is fake. Price is real.

    Valuation is fake. Property is real.


    What is the truth behind every lie?

    We are living in a world of lies. We are living in a world that even the chief of a country, the official in the government, the leader of the church, the head of the company, or the principal from the school can lie – and they can lie without batting an eye.

    Warren Buffet once said, “Honesty is a very expensive gift. Do not expect it from cheap people”.

    Lies are sweet. Realities are cruel. Is it that difficult to identify the genuine from the fake, to determine what’s real and what’s illusion, and to tell the truth behind every lie?

    Here’s my list of paradoxes on lies and truth:


    The commitment to save energy and the environment is a lie. A clever device to boost results of emission tests is the truth.

    The promise to serve the people is a lie. The desire to win the election is the truth.

    The corporate value to treat people as biggest asset is a lie. The company decision to downsize for survival is the truth.

    The guarantee of good profits from high return investment schemes is a lie. The attractive mark-up and commission behind the schemes is the truth.

    The approval of quick cash to achieve one’s dream is a lie. A debt to repay with high interest is the truth.

    Dan Ariely disclosed the results of an interesting experiment in his book The Honest Truth About Dishonesty: How We Lie to Everyone – Especially Ourselves, “Who do you think cheated more, the politicians or the bankers? … the bankers cheated about twice as much.”


    What are the lies behind uncompleted properties?

    You may think that some are just white lies. Everyone tell white lies to avoid hurting others’ feelings anyway.

    Nonetheless, there is also a saying that “The truth may hurt for a little while but a lie hurts forever.”

    The question is: Are you brave enough to face the truth?


    It advertises to be near to three MRT stations, but the actual site is near to none of them.

    It claims to be a luxurious condominium, but it comes with poor quality of materials and finishes.

    It appears to be a spacious layout in the showflat, but the bare unit just shrinks.

    It positions to be a reputable developer, but the TOP units are full of defects.

    It bets to be a unit with an open view, but the actual unit is blocked by something else.

    It promises to be a project with high rental yield, but in reality the rent can’t even cover the mortgage.

    Developers and marketing agents might say that these are all ‘beautiful misunderstandings’. But to buyers who bought their homes with hard-earned money, lies are lies no matter how you call them.

    When will marketers really care about protecting consumer rights, give them their deserved dignity after making the purchase decision, and in return earn the long-lost reputation and trust from customers?

  2. #2
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    Due diligence bah.

    It has been good bets for me so far.

    Upon TOP valuation for new unit increased by about two years rent. But can't sell because can't find suitable replacement at the same price.

    Warren Buffet once said, “Honesty is a very expensive gift. Do not expect it from cheap people”.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    How to be positive if analysed wrongly? Don't tell me when properties' prices were low previously, the qualities were good?

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    The truth is property investment is the most transparant and regulated than other form of investments. All you need is a common sense. Its less tricky than financial products. But this is only apply to sg property, other countries I am not so sure.

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    So far so good, Caveat Emptor.

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    Why do people buy new car even when you can be surer about condition and depreciation of old cars as compared to new car?

    Why? Any good reasons?
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  8. #8
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    No good Reason, the only reason, passion and finally Love. http://rebirthofreason.com/Articles/..._Passion.shtml

  9. #9
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    I am very sure that your statement that I highlighted below is wrong!

    In Singapore, we are unable to check whether an old car has been involved in accident (particularly serious one), have been submerged in water etc and gone through serious thorough repair etc, owners do not keep servicing and maintenance records and do not furnish maintenance records etc, hence there is no way a buyer of resale car can be sure about the true condition and history of an old car!

    On the other hand, if you buy a new U/C property, you are:
    1) Buying "on plan", i.e. buying buying a property based a piece of paper that the developer provided you, and as we all now, will not result in a product that you see in the brochure!

    2) Developer can made changes to the development and your unit (to some extend) without notifying you or seeking your approval!

    3) Very often, the actual usable area of the property you bought is much smaller than what you see in the show room and much smaller than what is stated in the S&P agreement that developer signed with you!

    4) The supposely "LOW" maintenance and sinking fund you are told that you need to pay usually will be jacked up by 50% or even 100% within next 5 years!

    5) (what else I have missed? - Feel free to add)

    Conclusion: I have never ever bought any U/C property based on paper plan without even seeing the real product!


    Quote Originally Posted by Kelonguni View Post
    Why do people buy new car even when you can be surer about condition and depreciation of old cars as compared to new car?

    Why? Any good reasons?

  10. #10
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    Agree.

    But do you know if the unit you are interested in has caught fire before?

    Or did anyone die in it before? Murder? Serious crime (s)? How to check?

    It might be relevant to some people?

    Quote Originally Posted by teddybear View Post
    I am very sure that your statement that I highlighted below is wrong!

    In Singapore, we are unable to check whether an old car has been involved in accident (particularly serious one), have been submerged in water etc and gone through serious thorough repair etc, owners do not keep servicing and maintenance records and do not furnish maintenance records etc, hence there is no way a buyer of resale car can be sure about the true condition and history of an old car!

    On the other hand, if you buy a new U/C property, you are:
    1) Buying "on plan", i.e. buying buying a property based a piece of paper that the developer provided you, and as we all now, will not result in a product that you see in the brochure!

    2) Developer can made changes to the development and your unit (to some extend) without notifying you or seeking your approval!

    3) Very often, the actual usable area of the property you bought is much smaller than what you see in the show room and much smaller than what is stated in the S&P agreement that developer signed with you!

    4) The supposely "LOW" maintenance and sinking fund you are told that you need to pay usually will be jacked up by 50% or even 100% within next 5 years!

    5) (what else I have missed? - Feel free to add)

    Conclusion: I have never ever bought any U/C property based on paper plan without even seeing the real product!
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  11. #11
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    Brought one in June 2006 BUC did not even see the floorplan just ask the agent to give me the cheapest 2 Bedroom and then ask him to quickly put a red dot on the board. A week later another agent asks me how much I want to sell the unit and I told her One Toyota Wish will do.

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    Mine ceiling was higher than that in showflat. Much more flexibility in space management.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  13. #13
    teddybear's Avatar
    teddybear is offline Global recession is coming....
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    Doesn't matter, I am only particular about the design, the space, and getting what you paid you should be getting.

    Murder? Serious crime? Anybody died in there? Who cares (I am not the superstitious type, never believe in those thing).


    Quote Originally Posted by Kelonguni View Post
    Agree.

    But do you know if the unit you are interested in has caught fire before?

    Or did anyone die in it before? Murder? Serious crime (s)? How to check?

    It might be relevant to some people?

  14. #14
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    Then fire big and small you believe?

    Quote Originally Posted by teddybear View Post
    Doesn't matter, I am only particular about the design, the space, and getting what you paid you should be getting.

    Murder? Serious crime? Anybody died in there? Who cares (I am not the superstitious type, never believe in those thing).
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  15. #15
    teddybear's Avatar
    teddybear is offline Global recession is coming....
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    After fire, as long as they restored to original location, everything is fine right?
    We are talking about property here, not car with engine and hidden parts whose functionality we don't know how to check.....

    Quote Originally Posted by Kelonguni View Post
    Then fire big and small you believe?

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    That's somewhat true actually.

    Just not if sure if really fully restored to original condition as I am not sure how to check. Who knows if there are longer term issues?

    Anyway the point is each kind new or old have their subscribers. But judging from the responses of my younger colleagues, they would rather rent new than live in an old unit.

    But not all resales are that old. Sorry digressed a bit.

    Quote Originally Posted by teddybear View Post
    After fire, as long as they restored to original location, everything is fine right?
    We are talking about property here, not car with engine and hidden parts whose functionality we don't know how to check.....
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  17. #17
    teddybear's Avatar
    teddybear is offline Global recession is coming....
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    rent new or old, well it is subjective, anyway they don't own the place.

    Buy new Under Construction or old and already TOP and getting what you paid for, then that is the biggest difference as a owner!

    It is not whether property is new or not that matter, but rather whether the estate will be well maintained or not.

    Actually FACTs is, buying newly TOP or U/C, you never know whether the estate will be well-maintained or not, not to mention getting what you see in the brochure......

    Some estates so old already, like Ardmore Park, but they are worth much more than new U/C or newly TOP properties nearby, that speaks LOUDLY that the VALUE of a property depends on whether they are built of HIGH QUALITY and WELL-MAINTAINED or not & whether FH or not (rather than old vs new)....

    Young people too inexperienced to understand as "new" property owner, no wonder they can't make much money investing in properties (because they equate "new" as "good" investment!!!)..........

    Quote Originally Posted by Kelonguni View Post
    That's somewhat true actually.

    Just not if sure if really fully restored to original condition as I am not sure how to check. Who knows if there are longer term issues?

    Anyway the point is each kind new or old have their subscribers. But judging from the responses of my younger colleagues, they would rather rent new than live in an old unit.

    But not all resales are that old. Sorry digressed a bit.

  18. #18
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    New may not be good.

    Old also may not be.

    Paying a huge premium for good old vs low price for poor old, what would be your choice?

    New investor more clear minded and sensitive to new and future trends and will not hug to old scenarios that may not stand the test of time.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  19. #19
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    In Singapore,
    used condo vs new condo, new condo price higher.
    used car vs new car, new car price higher.

    how about that most important asset you can "buy" today, aka wife?

    from what i gather, it looks like there is virtually no premium attached for a virgin wife vs a non-virgin wife.
    the bride price is the same. When you "buy" a non-virgin wife, you don't know how many different mr p (other than your own) that have been inside with the miss v. Is the miss v, used once, lightly used, heavily used? the buyer would not know.

    In Singapore, it looks like guys dont want to pay a premium for a virgin wife. However, another interesting observation comes to mind, customers to a chicken house will pay a premium for an unused chicken. Of course, once that chicken is used, the value drops, just like once you drive a new car out of the showroom, the car price drops by 20%
    So guys still prefer to pay more for a virgin, only that the virgin premium is not applicable for a wife. Why is that so? and so no demand = no supply?

    to sum it up:
    In Singapore,
    used condo vs new condo, new condo price higher.
    used car vs new car, new car price higher.
    used chicken vs new chicken, new chicken price higher.
    used wife-to-be vs new wife-to-be, same price ??? Uniquely Singapore
    Last edited by hopeful; 03-05-16 at 09:57.

  20. #20
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    You sound like someone with lots of "experience".

    Actually is all psychological. But if premium not that much more new is always preferable. Start afresh.

    Quote Originally Posted by hopeful View Post
    In Singapore,
    used condo vs new condo, new condo price higher.
    used car vs new car, new car price higher.

    how about that most important asset you can "buy" today, aka wife?

    from what i gather, it looks like there is virtually no premium attached for a virgin wife vs a non-virgin wife.
    the bride price is the same. When you "buy" a non-virgin wife, you don't know how many different mr p (other than your own) that have been inside with the miss v. Is the miss v, used once, lightly used, heavily used? the buyer would not know.

    In Singapore, it looks like guys dont want to pay a premium for a virgin wife. However, another interesting observation comes to mind, customers to a chicken house will pay a premium for an unused chicken. Of course, once that chicken is used, the value drops, just like once you drive a new car out of the showroom, the car price drops by 20%
    So guys still prefer to pay more for a virgin, only that the virgin premium is not applicable for a wife. Why is that so? and so no demand = no supply?

    to sum it up:
    In Singapore,
    used condo vs new condo, new condo price higher.
    used car vs new car, new car price higher.
    used chicken vs new chicken, new chicken price higher.
    used wife-to-be vs new wife-to-be, same price ??? Uniquely Singapore
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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