i thought it dropped 14% today. you meant over the last 3 days?Originally Posted by phantom_opera
Senior
i thought it dropped 14% today. you meant over the last 3 days?
Exalted
Nobody knows the answer?
I sell Cheese Pie
depends if there is a rescuer bank?Nobody knows the answer?
Exalted
U r power! Within 6mthswait another half year and the asking prices will be more than halved from now
Ok noted....april 2012! If dun haf, u sell ur ppty at half px to me hor...
Junior
He muz know something we dun know.. for all you know his china mei mei might have fed him first hand property news!!!U r power! Within 6mths
Ok noted....april 2012! If dun haf, u sell ur ppty at half px to me hor...
Exalted
If dun hf? Den still owe bank loan 1mil and cash become zero?depends if there is a rescuer bank?
If haf den?
I sell Cheese Pie
ok, I stay in attap hut wanU r power! Within 6mths
Ok noted....april 2012! If dun haf, u sell ur ppty at half px to me hor...
I sell Cheese Pie
If have then will be status quo. If no have... I guess you are quits as well
Exalted
OoooIf have then will be status quo. If no have... I guess you are quits as well
I ask my banker b4, and his reply is it wun happen lah...lol
Newbie
actually i understand the importance of insurance and i already thought of getting one once i start working because back when he was trying to get me to buy one i was still unemployed and on allowance. thing with this 12 years friend was you can tell from his tone and attitude that he is just trying to pressure me to buy. he called me out on the pretext of catching up but once we met up he talked non stop about insurance.
this kind of 12 year friend who want to make you a sales target isn't worth having anyway and i'll be getting insurance from another friend of mine lol.
Exalted
Medishield and mortgage insurance for primary residence die die must buy....
The rest to me is optional
Senior
Worrying trends in the Singapore property market
By Mr. Propwise
I've noticed some interesting and worrying trends in the Singapore property market that I'd like to share with you, and also delve into what they mean for the property investor and own-stay home buyer.
HDB prices are rising faster than private property prices
Last week the Urban Redevelopment Authority (URA) reported that the private residential price index grew 1.3 per cent in the 3rd quarter of 2011. Contrast this with the HDB's Resale Price Index (RPI), which rose 3.8 per cent from the previous quarter.
This increase in HDB prices is despite the 23,800 new units the HDB has pushed out in the first three quarters. The impact was not felt on prices but in the transaction volume for resale flats, which fell 10 per cent to 5,903 units in the 3rd quarter from 6,581 units in the 2nd quarter.
The HDB will launch another 4,200 build-to-order (BTO) flats in November, bringing the total number of flats launched this year to 28,000. And don't forget that there is another 25,000 BTO flats to be launched next year.
The puzzling thing for many is how the prices of HDB flats are still rising despite the large amount of supply being pushed out. A case in point is the 888-unit Trivelis in Clementi, which is being developed under the Design, Build and Sell Scheme (DBSS). Prices of the 646 sqft three-room flat units ($375,000 to $470,000), 861-883 sqft four-room flat units ($530,000 to $650,000) and 1,130 sqft five-room flats ($658,000 to $770,000) are more expensive than the surrounding resale flat prices!
Private home buyers are in a cautious mood
The PPI's 1.3 per cent increase is the 8th consecutive quarter of slowing growth, which many market observers attribute to both demand (growing uncertainty in global economic situation) and supply (government ramping up supply of public housing) factors.
Regardless of the cause, buyers are becoming increasingly cautious, especially in the high end segment. The URA reported a price increase in non-landed properties in the Core Central Region (CCR) of just 0.7 per cent, and a fall in transaction volume of 61 per cent on a quarter-on-quarter basis.
Given the upcoming launches in the 4th quarter, many analysts expect a
fall in the take-up rate even if prices remain stable. So it's clear that the market is cooling down. The million dollar question is — will prices fall?
Banned
Greece default is definitely a nailing event to trigger global financial crisis, many France banks will bankrupt, the domino effect will sink PIIGS, Italy, Spain...will follow thru'...
Same like Lehman bros, MF Global down due to Euro bonds...If France banks down due to Greece, it will pull down major Insurance company like AIG in lehman case...all bought insurance, default will cause insurance company unable to pay up like AIG in 2008....
anyway, coming soon, his week, next month or 3-4 months down the road, unavoidable, buy times only.....eventually global recession & depression.....
A Greek trader: ‘I believe the present government will be history by the end of this week. Most probably this evening actually, when the already scheduled emergency cabinet meeting is to be held’
Italy (8th largest economy in the world, GDP nominal), Spain (12th largest in world)and Portugal (38th largest in world) economies are poised for collapse, along with Greece (32nd largest economy in world)
German 10yr yields fell 25bp to 1.77%, close to their all-time lows and a bigger one-day fall than after the collapse of Lehman Brothers.
November 1st, 2011
of course, Italy, Spain bond yield surged thru' roof yesterday....
so Lehman bros kind of scenario is on the table......
Banned
besides major Europe banks plunged >10% yesterday....major US banks also down >15% in last 2 days.....
so far, Euro debt issues pull down biggest banks in Belgium, Dexia, last months.....now 1 US brokerage, MF Global bankrupt.....more to come....2 down now...
If Greece default officially....many will down consecutively everyday....banks, brokerage, Insurance companies & all financial related...if banks down, company can survive?? like GM, Chrysler in 2008...tons more....If OCBC or DBS or UOB down, how many developers or home owners kena chased to pay up before they down??......
Newbie
You're an obedient one aint u. Keep up the entertainment. Be our slave for the whole of November. We command.
Senior
Stock markets have been reduced to nothing more than a casino.
Newbie
exactly what i think also. the FED will hold position.
If mkt can"t stabilize by then, maybe BASIC will be right about the correction
Music of the night
A single eu is not good for us and china but us banks implicated n china has bond holdings, strategy is buy sse50 or sti etf for long term play when Dow gold ratio near six
Ride at your own risk !!!
Senior
Be more optimistic. Banks in Singapore go down.
Junior
\\what is this mortgage insurance ?
can recommend ?
Newbie
ST this morning featured anxious MF Global local customers asking for their money back.
Senior
exactly ...
just like ..an agent .. trying to rent a unit ...
when he knows the renter is expat ... you think he will lower the price ?
when he knows the buyer is from rich background, you think he will show a lower selling price ?
like i said yesterday ... many continues to hound Basic for the info ...for Greed ( wanting to buy cheap) and for Fear ( afraid that props really fall 20%)
to me .. he has provided some info that i have no access to and thats good
how he present it is subjective ..
Sasha's daughter calling Kenneth Cheapskate..is she really wrong ?
it all depends on which camp you belong to ...
Kenneth's friend broke a glass which costs like $15-20 and yet the total bill for 8 persons only $80 .. nett the cost of the broken glass ..the total bill really only $60-65 for 8 persons ... it is indeed cheap
so ..take the info, absorb the info, interpret the info .. and make your only decision ..
if singaporeans are so easily offended by words like 'FOOL" ...then singaporeans have a long way to go in the outside world ...
LKY call call singaporeans Fools .. but he will not use it to foreigners
Banned
>60% total loan in Spore is property related, especially housing loan...exculde foreign banks, pecentage in 3 local banks rae even higher...Be more optimistic. Banks in Singapore go down.
Global standard for interest spread for deposit & housing loan is 4%....US & China are in 3.5%-4.5% range...to sustain expenses & risk taking...
Spore interest spread is 1%...not evn enough to pay their top management salary & bonus, don't talk about high rental, overhead charges, spore is 1 of the most expensive place to do biz....1% how to survive?? we know why they are controlled, cannot put down here...that is their proble, they deserve to bankrupt when crisis hits, no mercy, no bailout by taxpayers' money....
If I am S&P or moody, I will straight downgrade to junk for local 3 banks, this is not the way to run biz....especially in crisis time now, risk is super high, who want 1% spread?? China developers even go to underworld for 100%/yr interest due to NO liquidity, 1%? greatest joke of the world....
wait for external force to kill them, let see our xxxx can support when whacking time comes....will come 1 day, too juicy to hoot down because of their own irresponsible act.....
Senior
the saying is to buy when there's the most amount of question marks. This is oone bottom that is very hard to pick as there are heck of a lot of question marks as it is.
Senior
There r many units on firesale 20-30% below value
Pls search for it...tons of them....
hahahahahahha
i dunno where have ..
but i can tell you
if you want CHEAP rental ..
ARDMORE2 CLIVEDEN
for the price they paid for these condos ...the rent is peanuts ( ohh Mrs Goh)
Banned
I already said it in pg 60....tan ku ku...ST this morning featured anxious MF Global local customers asking for their money back.
MF global already transfer their funds to Europe, lost big there...plus $Bil unaccountable....like S shares, money disappear overnight....
2 financial bank & brokerage down due to Euro Debt issues now....more to come.....
Senior
What's the typical rental for a 3 bedder?
Senior
My sister-in-law said she saw a China man at the SGX (few months back), carrying a very big bag with many stacks of thousands and thousands of cash
did she call police ? or MAS to investigate ?
who is checking these people transacting in CASH ...?
singapore is now possibly the highest money laundering ground
Junior
It is amazing that LKY is also mentioned
It is getting personal and emotional
Junior
Simple answer:
if bank A collapses, you are insured only for $20000 per bank, (and not per bank accounts).
As for your debt to bank A, the rescuer Bank B will buy the assets of bank A (your mortgage) on the cheap, and you still have the mortgage of $1million.
no offsetting = you are screwed royally.
I read the scenario somewhere and the answers given are as above but the answers may be wrong.
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