Condo and Handbag

[Poloclub]

No, this is not a thread to talk about Teddy's 30 years old Hermes handbag.

Looking at the buying trend of PC in Singapore these days, where HDB upgraders are paying record prices for suburban condo, I am starting to see some similarity on the way people buying condo and teenagers buying branded handbags which they cant afford.

From my observation, buying property in Singapore is no longer about affordability, functionality or centralized location. It is now all about chasing about the ultimate product that they can possibility get to differentiation themselves from others. And it seems like people are now more willing to make painful compromises at whatever cost just to pursue this dream without consider the potential risk and impact on their future.

How is this going to impact our society in 20-30 years time? Will Singaporeans be drown in the sea of debt at their golden age?

No money for retirement and yet no children?

[buttercarp]

If teenagers buy handbag they cannot afford, then when they grow up, how to buy condo?

The problem is most people are confident that they can rent out their HDB or second property to service their housing loan.
What if the reverse happens?
Sell the HDB.... but then sell to who if the market becomes bad?

[hopeful]

import more foreigners?

I see connection too.
cannot afford real branded handbag, can buy fake branded handbag.

so what is the equivalent of fake handbags in condo terms?
fake condos are OCR, MM kind and real branded condos are big quantum, big area, big psf CCR condos.

[rymccondo77]

If teenagers buy handbag they cannot afford, then when they grow up, how to buy condo?

The problem is most people are confident that they can rent out their HDB or second property to service their housing loan.
What if the reverse happens?
Sell the HDB.... but then sell to who if the market becomes bad?

Ultimately, its buying what you can afford and not over stretching one's finances. My conveyancing lawyer had remarked that she has seen people getting loans that could be beyond their ability to service should things go bad.

Interest rates are low now but if they increase, some people would have problem servicing the loan. For myself, I will look at my finances and evaluate whether I can service the loan if the interest rate increases to 1.5 to 2 times of the current interest rates.

Also, ideally, one person's salary can still service the loan (or at least a significant part of the loan) in case one's spouse loses or has to resign from his/her job.

[phantom_opera]

Teenagers are lured into prostitution to buy branded handbags

Property owners in bad time may be lured into dangerous jobs too

[Poloclub]

Teenagers are lured into prostitution to buy branded handbags

Property owners in bad time may be lured into dangerous jobs too

that could be possible, especially when white collar crimes is getting so common these days.

[teddybear]

Heard of such cases before in Singapore and overseas!
Those >18 years old can afford branded bags are mostly like that? (except those got money from rich parents to buy....)

Teenagers are lured into prostitution to buy branded handbags

Property owners in bad time may be lured into dangerous jobs too

[august]

china teenager sells kidney to buy iphone and ipad.

[buttercarp]

Heard of such cases before in Singapore and overseas!
Those >18 years old can afford branded bags are mostly like that? (except those got money from rich parents to buy....)

Young gal from non wealthy family background carry expensive branded handbag = prostitute ?

[teddybear]

This is tongue-in-cheek remarks.
Nevertheless, really can't find other reason as to how a 18-22 years old can earn so much to effort a branded >$20k bag and still have money for a living from non-wealthy family. By virtue of being in non-wealthy family, their income usually will have to subidize family expenses, No?

Young gal from non wealthy family background carry expensive branded handbag = prostitute ?

[hopeful]

Young gal from non wealthy family background carry expensive branded handbag = prostitute ?

Young gal from non wealthy family background carry expensive branded handbag = fake handbag ?

it is a matter of perception,
if you spot a well known tai-tai carrying a hermes bag, you assume it is genuine when in actual fact it is fake.

and if you spot a bank teller carrying a hermes bag, you assume it is fake when in actual fact it is genuine.

so no point for bank teller to carry a genuine hermes bag, the public at large will assume it is fake.

[carbuncle]

Teenagers are lured into prostitution to buy branded handbags

Property owners in bad time may be lured into dangerous jobs too

prop owners hv many means to get income eg rent out rms or rent out bomb shelter etc no need to sell body la

[carbuncle]

No, this is not a thread to talk about Teddy's 30 years old Hermes handbag.

Looking at the buying trend of PC in Singapore these days, where HDB upgraders are paying record prices for suburban condo, I am starting to see some similarity on the way people buying condo and teenagers buying branded handbags which they cant afford.

From my observation, buying property in Singapore is no longer about affordability, functionality or centralized location. It is now all about chasing about the ultimate product that they can possibility get to differentiation themselves from others. And it seems like people are now more willing to make painful compromises at whatever cost just to pursue this dream without consider the potential risk and impact on their future.

How is this going to impact our society in 20-30 years time? Will Singaporeans be drown in the sea of debt at their golden age?

No money for retirement and yet no children?

It will be a huge ponzi where the early birds who bought resell to the new birds at insane profits, and so on... Becoz prop price always go up in long term!

[Rosegarden]

Young gal from non wealthy family background carry expensive branded handbag = fake handbag ?

it is a matter of perception,
if you spot a well known tai-tai carrying a hermes bag, you assume it is genuine when in actual fact it is fake.

and if you spot a bank teller carrying a hermes bag, you assume it is fake when in actual fact it is genuine.

so no point for bank teller to carry a genuine hermes bag, the public at large will assume it is fake.

Word.

One hermes does not a lifestyle make. You need to be driving a 500k car, wearing 40k watch, eating at tatsuya, send kids to debutant balls, etc ,etc. In short, be a CCRCCBUHNWI. Oops I mean CCRGCBUHNWI.

[maisonjai]

i remember reading this article, share with u guys

FAKING IT
Hong Kong's tai-tais are mounting cross-border raids on Shenzhen and returning with wardrobes-worth of imitation designer goodies. Their 'fakes for fun' craze takes them, and their Rolls-Royces, to a nondescript building where they can haggle $20 off a $1
Aug 13, 2000

At a chic ladies' lunch in a Peak apartment, Mrs X - the wife of one of Hong Kong's biggest property developers, and a woman who routinely spends hundreds of thousands of dollars a month on herself - told of a recent enjoyable excursion: buying fakes in Shenzhen.
She and three of her best friends had piled into her Rolls-Royce (the one with the China number plates) and crossed the border to Shen-zhen Golf Club for a round or two. Later they climbed back into the Roller, quaffed a couple of bottles of champagne and stopped at a dirty grey building next to the border. There, Mrs X and her cohorts, all in this season's real Dior and Gucci, spent two hours roaming small, hot, noisy stores, haggling for $20 off an imitation Fendi baguette, $35 off a black nylon Prada tote ...

'Did you see the denim Dior shoulder bag? Only $70!' interrupted one of the lunching ladies. 'And the Burberry raincoats? So cheap for $150!' Shenzhen, or at least the building that houses five packed floors of counterfeit-product shops, has reduced some of Hong Kong's most glamorous, polished women into screeching penny-pinchers as sophisticated as New Territories fishwives.
Mrs X and her friends are not the only ones. There's the woman who spent $12,000 on two Chanel handbags one afternoon, then went to Shenzhen the next to buy the fake versions. She couldn't find the same styles, but bought a couple of others, used them twice, then gave them to her domestic helper. There's the group of wealthy Singaporean women who flew to Hong Kong, were wined and dined at the China Club by a Hong Kong fashion industry insider, then revealed they were really here to 'shop in Shenzhen'. Then there's the wealthy tai-tai who bought bag loads of fake Vuitton ... when her husband has 30 genuine monogrammed suitcases. And there are plenty of tales of women who bought fake Gucci wallets and sent them to the factory in Italy to be repaired if a stitch came undone.

A friend who usually buys at least two real Gucci bags a season has just made her breakthrough trip to Shenzhen. 'I defy you to tell the difference,' she said, producing a real Prada wallet and a fake. 'Everyone is doing it - even the rich.' But buying fakes can backfire. The wife of one local billionaire went to Japan loaded with fakes for her friends. They were thrilled to see the booty, but were not amused when told they weren't the genuine articles. 'The Japanese don't buy fakes,' said the socialite.

Patrice Brendle, who runs the Hong Kong branch of French luxury-goods association Comite Colbert, has a simple explanation for the Shenzhen sprees. 'Boredom,' he says. 'It has become a fashionable sport, and to be there when there is a police raid is even more thrilling. It's a combination of things: finding a bargain, the fact that it's illegal ... these people who go in their Rolls-Royces, they go for the fun of it.'

I had to see for myself what would lure the tai-tai shopper, someone accustomed to moving seamlessly through the pristine interior of The Landmark, to a grotty building on the mainland. These are the women, after all, who cheered when Joyce moved from the Galleria to the New World Tower in Central because their chauffeurs were able to pull up right outside.
Carrying a capacious shoulder bag for all my booty, I set out at 10.30am and took the MTR to Kowloon Tong, then the KCR to the border at Lo Wu. In my compartment were two women in the tai-tai category: solitaire diamonds sparkled in their earlobes and their toes were prettily pedicured. One carried a lime canvas Gucci bag (later seen in large quantities) and both had small, empty, canvas Prada suitcases. It's easy to spot the shoppers at Lo Wu: they're the women towing empty wheelie bags.

http://www.scmp.com/portal/site/SCMP/menuitem.06f0b401397a029733492d9253a0a0a0?vgnextoid=127c48867b2b1110VgnVCM100000360a0a0aRCRD&s=Archive

[maisonjai]

Word.

One hermes does not a lifestyle make. You need to be driving a 500k car, wearing 40k watch, eating at tatsuya, send kids to debutant balls, etc ,etc. In short, be a CCRCCBUHNWI. Oops I mean CCRGCBUHNWI.

In this case, fly to HK wine & dine, chauffeured in RR & carry a cheong bag...more kick..haha

[teddybear]

This is very true!
Heard that a few socialists are carrying fake branded bags

Young gal from non wealthy family background carry expensive branded handbag = fake handbag ?

it is a matter of perception,
if you spot a well known tai-tai carrying a hermes bag, you assume it is genuine when in actual fact it is fake.

and if you spot a bank teller carrying a hermes bag, you assume it is fake when in actual fact it is genuine.

so no point for bank teller to carry a genuine hermes bag, the public at large will assume it is fake.

[maisonjai]

This is very true!
Heard that a few socialists are carrying fake branded bags

They even have fun playing who can spot the fake....haha

[buttercarp]

They even have fun playing who can spot the fake....haha

This is so true. One of my frens love to compare the genuine n fake ones to study the difference. When we go out, she would observe people's bags n tell me which is real and fake.

[evergreen]

From what I hear, the low-level staff are the ones who like to carry genuine branded bags. Paid with installment plan. If no salary for 1 month, no money to pay the credit card bill.

Many students become freelance prostitutes. Some receive expensive gifts. Many girls and women (who aren't prostitutes) receive expensive gifts too. Some of the guys who buy these gifts pay with installment plan

Lv and Hermes bags are a burden to carry. So heavy!
Big apartments are a burden as well. Too much to clean!

[maisonjai]

This is so true. One of my frens love to compare the genuine n fake ones to study the difference. When we go out, she would observe people's bags n tell me which is real and fake.

wah...i thought only guys like to spot "front baggages" natural or silicon ..wahaha

[stiook]

Word.

One hermes does not a lifestyle make. You need to be driving a 500k car, wearing 40k watch, eating at tatsuya, send kids to debutant balls, etc ,etc. In short, be a CCRCCBUHNWI. Oops I mean CCRGCBUHNWI.

I do agree with you on this. But different people place different value on different thjngs... some like to stay in landed but compromise on other things or drive a 7-series but stay in HDB....

[teddybear]

Some people are real funny or they are washing black money and/or yet scare people know they live in HDB? They live in HDB flats but yet drive a Mercedes E300 / Jaguar / BMW5xx, and yet don't even dare to stick the HDB season parking disc on their cars....

I do agree with you on this. But different people place different value on different thjngs... some like to stay in landed but compromise on other things or drive a 7-series but stay in HDB....

[Montaigne]

Nowadays we cannot look down on those youngsters. Alot of them play contra. They can easily make 500k within a short time frame by playing contra alone. Apparently this is quite a popular thing on tertiary schools nowadays ESP for them, time is on their side.

[carbuncle]

Is it my eyes or the whole squabble trail got deleted?

[Laguna]

I saw a woman, with a big red Channel, and a pair of Gucci canvas shoes. I just look at her dressing and behaviour, I told myself, there are so many women around, even with brand stuffs, simply cannot carry themselves well. So what is the purpose of carrying these brand stuff.

Another one, this women, full body of fakes stuff, from sunglass, watch to shoe, clothings. Just wonder which part of her body is faked as well.

Anyway, go to Milan station, u will not want to buy some of the brands alr

[carbuncle]

Is it my eyes or the whole squabble trail got deleted?

Oh pardon me, I got confused with the 70% SH sold thread... In it got mention of handbags too...

[Poloclub]

Some people are real funny or they are washing black money and/or yet scare people know they live in HDB? They live in HDB flats but yet drive a Mercedes E300 / Jaguar / BMW5xx, and yet don't even dare to stick the HDB season parking disc on their cars....

wow, since when did CCRGCBUHNWI Teddy hang around in HDB?

[teddybear]

Oh my gosh! Got to lead my ka-kias to teach some idiots living in HDB a lesson mah, owe $$$ pay $$$ !!! No money want to put on "face"... Still got to ask my ka-kias to tow away their Mercedes away some more!

wow, since when did CCRGCBUHNWI Teddy hang around in HDB?

Some people are real funny or they are washing black money and/or yet scare people know they live in HDB? They live in HDB flats but yet drive a Mercedes E300 / Jaguar / BMW5xx, and yet don't even dare to stick the HDB season parking disc on their cars....