Social Implications of Property CRASH...

[radha08]

In every kind of market...ie property/shares..etc etc...there will always BE Bulls and Bears....at different stages of our life depending on our own personal investment strategy we can be a bull bear...

Today morning over a breakfast of nasi lemak and teh tarek at good old siglap village i was looking at all the hustle/bustle around me..i.e families/maids/banglas........enjoying the morning...

I was thinking to myself...what IF the singapore property market were to crash...realistically 20 to 30% from where it is NOW...would that be good or bad...

i remember back in early 2009 it was a DOOMSDAY scenario....everybody thought it was end of the world personally my company also retrenched staff i remember a colleague of mind getting envelope he couldnt even look up to say goodbye..he has 2 young children and a HDB flat to take care of...

Anyway luckily WE pulled out of that NOT only did we PULL we SHOT thru the ROOF(Pun intended)...

But i was thinking like if today something like 2009 were to happen if would SERIOUSLY/Surely be MUCH more serious than 2009...cos a whole LOT more people have committed to HUGE mortgages..and if the Ship was to start sinking...a LOT more damage will happen...my income has not risen much since 2009 but look at COE/COV and all that Bullshit...

all i can say at this moment is.....if the ship were to start sinking...

run faster run....

[yowetan]

In every kind of market...ie property/shares..etc etc...there will always BE Bulls and Bears....at different stages of our life depending on our own personal investment strategy we can be a bull bear...

Today morning over a breakfast of nasi lemak and teh tarek at good old siglap village i was looking at all the hustle/bustle around me..i.e families/maids/banglas........enjoying the morning...

I was thinking to myself...what IF the singapore property market were to crash...realistically 20 to 30% from where it is NOW...would that be good or bad...

i remember back in early 2009 it was a DOOMSDAY scenario....everybody thought it was end of the world personally my company also retrenched staff i remember a colleague of mind getting envelope he couldnt even look up to say goodbye..he has 2 young children and a HDB flat to take care of...

Anyway luckily WE pulled out of that NOT only did we PULL we SHOT thru the ROOF(Pun intended)...

But i was thinking like if today something like 2009 were to happen if would SERIOUSLY/Surely be MUCH more serious than 2009...cos a whole LOT more people have committed to HUGE mortgages..and if the Ship was to start sinking...a LOT more damage will happen...my income has not risen much since 2009 but look at COE/COV and all that Bullshit...

all i can say at this moment is.....if the ship were to start sinking...

run faster run....

Could you share with me more of your profile, age etc? I have reqested a few times.

[buttercarp]

I thought it was the end of the world in 2003 during the SARS period.
Just enjoy life as it is now but also plan properly.

[Laguna]

Could you share with me more of your profile, age etc? I have reqested a few times.

let me guess

One HDB flat and one rental landed property
with tons of cash

[buttercarp]

Could you share with me more of your profile, age etc? I have reqested a few times.

You go read his previous posts..... he has mentioned it there.

[DC33_2008]

It with these dips that the rich becomes richer. It is important that there is no repeat of the 1996 crisis. I am glad that asian market is stronger now with the dragon head in this part of the world.

In every kind of market...ie property/shares..etc etc...there will always BE Bulls and Bears....at different stages of our life depending on our own personal investment strategy we can be a bull bear...

Today morning over a breakfast of nasi lemak and teh tarek at good old siglap village i was looking at all the hustle/bustle around me..i.e families/maids/banglas........enjoying the morning...

I was thinking to myself...what IF the singapore property market were to crash...realistically 20 to 30% from where it is NOW...would that be good or bad...

i remember back in early 2009 it was a DOOMSDAY scenario....everybody thought it was end of the world personally my company also retrenched staff i remember a colleague of mind getting envelope he couldnt even look up to say goodbye..he has 2 young children and a HDB flat to take care of...

Anyway luckily WE pulled out of that NOT only did we PULL we SHOT thru the ROOF(Pun intended)...

But i was thinking like if today something like 2009 were to happen if would SERIOUSLY/Surely be MUCH more serious than 2009...cos a whole LOT more people have committed to HUGE mortgages..and if the Ship was to start sinking...a LOT more damage will happen...my income has not risen much since 2009 but look at COE/COV and all that Bullshit...

all i can say at this moment is.....if the ship were to start sinking...

run faster run....

[roly8]

respect pple privacy meh...

[radha08]

Could you share with me more of your profile, age etc? I have reqested a few times.

why bro u want to use me as benchmark ah...no need lah...just run your own race....last time i also like to compare myself to people but end up my life very bitter and i never move forward cos i always thinking what others have and i dont have....nowadays i just focus on my own goals/aspirations...think how i can improve my life and my family life...how to invest in my children so one day they can help me continue building my empire....but if you really must know...here its is....

age group 40 to 50
Sex Group...100% MALE
Marital status...HAPPILY married(MOST IMPORTANT GROUP)
housing group....HDB supporter
income group...0-10k
health group...physically active
mental group...stable
intended housing group..FH terrace(cannot afford)
2nd intended housing group...PC(dunno WHAT still searching)
Vehicle group...2 dr suzuki....Small and Fasttttt


hope that answers your questions...

[radha08]

I thought it was the end of the world in 2003 during the SARS period.
Just enjoy life as it is now but also plan properly.

that one also but human memory is short......most remember 2009 better...

[yowetan]

why bro u want to use me as benchmark ah...no need lah...just run your own race....last time i also like to compare myself to people but end up my life very bitter and i never move forward cos i always thinking what others have and i dont have....nowadays i just focus on my own goals/aspirations...think how i can improve my life and my family life...how to invest in my children so one day they can help me continue building my empire....but if you really must know...here its is....

age group 40 to 50
Sex Group...100% MALE
Marital status...HAPPILY married(MOST IMPORTANT GROUP)
housing group....HDB supporter
income group...0-10k
health group...physically active
mental group...stable
intended housing group..FH terrace(cannot afford)
2nd intended housing group...PC(dunno WHAT still searching)
Vehicle group...2 dr suzuki....Small and Fasttttt


hope that answers your questions...

Thanks, Your motivation has inspired me. I will fight for my landed dream too.

[radha08]

let me guess

One HDB flat and one rental landed property
with tons of cash

NOT tons...but just enough to put downpayment on a decent condo...and slave myself for rest of my life to a million dollar loan if i commit NOW...well isnt that the SINGAPOREAN dream....the rental landed is just a little LUXURY that i can give myself/family....instead of taking them to disneyland/tokyo/sentosa...

[DC33_2008]

Have you considered buying 1-2 condos instead of putting all the money into one FH landed?

Thanks, Your motivation has inspired me. I will fight for my landed dream too.

[Laguna]

NOT tons...but just enough to put downpayment on a decent condo...and slave myself for rest of my life to a million dollar loan if i commit NOW...well isnt that the SINGAPOREAN dream....the rental landed is just a little LUXURY that i can give myself/family....instead of taking them to disneyland/tokyo/sentosa...

I hv a different view :
1. Landed property in Frankel give u the space but not the life style of condo (good condo)

2. u may not be a slave to the property but making monies from property.

[ikan bilis]

why bro u want to use me as benchmark ah...no need lah...just run your own race....last time i also like to compare myself to people but end up my life very bitter and i never move forward cos i always thinking what others have and i dont have....nowadays i just focus on my own goals/aspirations...think how i can improve my life and my family life...how to invest in my children so one day they can help me continue building my empire....

Yeah!!

[Santro]

Bro, the impact will be over-compounded in my opinion.
1) Property price down 20-30%.
2) Rental income down.
3) Property loan interest rate starts going up.
4) Cos will start to cut jobs increasing fear.
5) People start complaining asking govt to intervene.
6) Govt start reversal of cooling measures but too late as the major damage already done.
7) Our currency SG$ will lose the steam and start moving down. No more attractive to FT.

During the 2003 or 2009 time, people were not so adventurous to jump into million dollar loans but this time, its different.
I still remember around 2003, one of my ex-colleague buy new 3 bedroom condo at 800k. After few months complain that her neighbour buy similar unit for 650k.
Just imagine a PR or foreigner, jobless with million $ loan. Do you think they will stay back and wait for recovery or move back or to another country and start afresh.

Thats why I always pray that Mr B is wrong. But if it happens, it going to be a real big one!!!

In every kind of market...ie property/shares..etc etc...there will always BE Bulls and Bears....at different stages of our life depending on our own personal investment strategy we can be a bull bear...

Today morning over a breakfast of nasi lemak and teh tarek at good old siglap village i was looking at all the hustle/bustle around me..i.e families/maids/banglas........enjoying the morning...

I was thinking to myself...what IF the singapore property market were to crash...realistically 20 to 30% from where it is NOW...would that be good or bad...

i remember back in early 2009 it was a DOOMSDAY scenario....everybody thought it was end of the world personally my company also retrenched staff i remember a colleague of mind getting envelope he couldnt even look up to say goodbye..he has 2 young children and a HDB flat to take care of...

Anyway luckily WE pulled out of that NOT only did we PULL we SHOT thru the ROOF(Pun intended)...

But i was thinking like if today something like 2009 were to happen if would SERIOUSLY/Surely be MUCH more serious than 2009...cos a whole LOT more people have committed to HUGE mortgages..and if the Ship was to start sinking...a LOT more damage will happen...my income has not risen much since 2009 but look at COE/COV and all that Bullshit...

all i can say at this moment is.....if the ship were to start sinking...

run faster run....

[Leeds]

If property crash is due to economic crisis, it will be bad for most people. However, if property crash is due to government intervention like in China and Hong Kong, it is not too bad since people are still holding on to their jobs and paying their bills.

In fact, property correction through government intervention is not a bad thing now when income is lagging far behind prices of property. Without government intervention now, the bubble will burst and affect our economy which will turn into a crisis like what happen in the US.

Finance Minister pointed out correctly few days ago that Singapore was in the unhappy stage of the property cycle with income lagging price increases and under supply of flats over the last ten years; hence resulted in today's situation. He advised that we should wait a little bit more. This government is finally deviating a little from its policy of continuous asset enhancement.

Like what the out-spoken Professor (cannot remember his name) said last week, we can only cash out from asset enhancement programme in one generation but what about the next generation? Can continuous asset enhancement be sustainable?

[phantom_opera]

Yeah garmen will continue to enhance Coe, erp, REIT, Sers that moves u out of prime area, taxi fare, mrt fare, entrance fees to garden by the bay, maid levy, agency fees etc

[yowetan]

Have you considered buying 1-2 condos instead of putting all the money into one FH landed?

I am open to all suggestions, but I have an outstanding loan of 460k.

My upfront cash component is only 100k at best. How am I going to get 1-2 condos then?

[ysyap]

I am open to all suggestions, but I have an outstanding loan of 460k.

My upfront cash component is only 100k at best. How am I going to get 1-2 condos then?

With outstanding loan, you only qualify for 60% LTV... 1st option is to invest not in property coz $100k can only get you a $250k 3 room HDB resale but the irony is you can't buy hdb if you have pc so its as good as no option. 2nd option is to find someone (preferably not a friend) to share in investing in a property but now is still not the ideal time to enter the property market. Wait some more...

[buttercarp]

I am open to all suggestions, but I have an outstanding loan of 460k.

My upfront cash component is only 100k at best. How am I going to get 1-2 condos then?

100k is only enough to buy COE and go on a holiday.
If you really want advice, i think most of the forummers here have already repeatedly gave you very sound advice.

[roly8]

I am open to all suggestions, but I have an outstanding loan of 460k.

My upfront cash component is only 100k at best. How am I going to get 1-2 condos then?

got a phrase :
small head..don't wear so big hat..

live/spend within your mean..
material stuff are just temporary in your lifetime..
what is important is health, freedom & loved one...

[jwong71]

100k is only enough to buy COE and go on a holiday.
If you really want advice, i think most of the forummers here have already repeatedly gave you very sound advice.

he just mati mati wanna to hoot 1 pte property la..
later kena goreng jialiat jialiat!!

yowetan: cash 100k pls not too much, with 460k loan to service. and pooled in ur parents 2k+.. you will find urself in tight spot

[radha08]

Have you considered buying 1-2 condos instead of putting all the money into one FH landed?

fh landed is out IMHO not worth it NO matter how strong desire is UNLESS you can afford it...with 70% DP...or more...

[radha08]

got a phrase :
small head..don't wear so big hat..

live/spend within your mean..
material stuff are just temporary in your lifetime..
what is important is health, freedom & loved one...

...i also say

[ysyap]

fh landed is out IMHO not worth it NO matter how strong desire is UNLESS you can afford it...with 70% DP...or more...

2 years back I was looking around for a homestay property. Looked at FH landed and PC... deliberated for several months then decided to go for PC. My spouse say my pattern will not enjoy looking after my land... best get someone to look after for me by paying some maintenance fee... Plus I use facilities too...

[radha08]

2 years back I was looking around for a homestay property. Looked at FH landed and PC... deliberated for several months then decided to go for PC. My spouse say my pattern will not enjoy looking after my land... best get someone to look after for me by paying some maintenance fee... Plus I use facilities too...

....thats right dont be slave to your property be the MASTER...

[KC76]

got a phrase :
small head..don't wear so big hat..

live/spend within your mean..
material stuff are just temporary in your lifetime..
what is important is health, freedom & loved one...

i think he aspires to own one Pc but d cash outlay is too little. More prudent would be to pay up existing pty, save more cash before getting a pc.

[KC76]

I am open to all suggestions, but I have an outstanding loan of 460k.

My upfront cash component is only 100k at best. How am I going to get 1-2 condos then?

Ur outstanding loan is on pc or hdb?

[KC76]

...i also say

I guess his situation would be diff if he has $300k cash and existing loan is say only $100k n below.

[zzz1]

I suppose during down turn, the most important is holding power and cash at hand to tie over the tide and letting the dust to settle take time,.. Once it is clearer , it time to take the plunge to accumulate mire asset.. For an avg Joe like me, it gona require some guts of steel ball to commit more property ..

I suppose that how the rich just getting richer , waiting for down turn to come...