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Thread: Many property owners are desperate...

  1. #1
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    Default Many property owners are desperate...

    Having been a long time silent observer of this forum, I have seen a clear difference of CM7: that is, this time, many forummers here (property owners with vested interest) are desperately defending that property prices will continue chiong or remain stabilized, reasons quoted include, why would sellers sell, who will sell, further reduction of supply, abundant liquidity, low interest rate, why would this CM be different from previous ones, buyers rushed in at 11th hour before CM7, population and so on... -- all the common rhetoric that keep repeated over and over, until I feel that I must say something.

    First, it is quite a clear sign that some owners are desperately defending the property prices, this is an indication that CM7 has hit their nerves, and therefore, you would see one owner posting some reasons supporting his theory, the other owner would quickly post a supporting note and so on. I didn't see much of this in previous CMs.

    Second, CM7 is going to reduce demand to a larger extend than the reduction of supply, due mainly to the stupid ABSDs. I know many potential buyers who firmly decided not to buy. Lots of genuine demand have already been absorbed in the past years, coupled with the further reduction of demand which is much more than the reduction of supply, we are going to see the market titled to buyer side. Foreigners maybe rich, but they are calculative as well, and remember they account for just minority of the demand.

    I went to see quite a few resale units, and the sentiment I felt is the same everywhere, that is, there are not many sellers, but, there are almost NO buyers.

  2. #2
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    The demand has definitely shrink. No doubt. I don't think a lot of singaporean 2nd buyer will pay 7%. We very niao ji niao lan one. Unless he/she can rebate back the 7% but that also means the current property will be back into the market.

    As for desperate owner, I don't really think so. Unless those who bought at ridiculous price but still, why would they sell at a loss if they have the money to buy at ridiculous pricing? I think the problem will start when rental starts dropping. CCR already softening so unless rental picks up, life is going to be hard for those who bought at high price. Then see who blink first. CM8 or CM9 is not going to affect much if rental stays strong.




    Quote Originally Posted by economist
    Having been a long time silent observer of this forum, I have seen a clear difference of CM7: that is, this time, many forummers here (property owners with vested interest) are desperately defending that property prices will continue chiong or remain stabilized, reasons quoted include, why would sellers sell, who will sell, further reduction of supply, abundant liquidity, low interest rate, why would this CM be different from previous ones, buyers rushed in at 11th hour before CM7, population and so on... -- all the common rhetoric that keep repeated over and over, until I feel that I must say something.

    First, it is quite a clear sign that some owners are desperately defending the property prices, this is an indication that CM7 has hit their nerves, and therefore, you would see one owner posting some reasons supporting his theory, the other owner would quickly post a supporting note and so on. I didn't see much of this in previous CMs.

    Second, CM7 is going to reduce demand to a larger extend than the reduction of supply, due mainly to the stupid ABSDs. I know many potential buyers who firmly decided not to buy. Lots of genuine demand have already been absorbed in the past years, coupled with the further reduction of demand which is much more than the reduction of supply, we are going to see the market titled to buyer side. Foreigners maybe rich, but they are calculative as well, and remember they account for just minority of the demand.

    I went to see quite a few resale units, and the sentiment I felt is the same everywhere, that is, there are not many sellers, but, there are almost NO buyers.

  3. #3
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    That's right, the 7% and 10% has really turned off many of the potential buyers.

    I didn't mean owners are desperately selling, I meant some of them are desperately posting here to defend their rhetoric theory, I did't actually want to post until I saw a thread today which almost made me laugh. Yes, sellers will not panic sell, supply will actually be reduced, what matters is that demand will be reduced much more than that!! As a result, more likely than not, residential prices will drop.

    Quote Originally Posted by thomastansb
    The demand has definitely shrink. No doubt. I don't think a lot of singaporean 2nd buyer will pay 7%. We very niao ji niao lan one. Unless he/she can rebate back the 7% but that also means the current property will be back into the market.

    As for desperate owner, I don't really think so. Unless those who bought at ridiculous price but still, why would they sell at a loss if they have the money to buy at ridiculous pricing? I think the problem will start when rental starts dropping. CCR already softening so unless rental picks up, life is going to be hard for those who bought at high price. Then see who blink first. CM8 or CM9 is not going to affect much if rental stays strong.

  4. #4
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    Resale sellers don't have an absd "absorption" scheme. Makes sense to go for developer sales no?

  5. #5
    mutant powerpuff

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    Quote Originally Posted by economist
    Having been a long time silent observer of this forum, I have seen a clear difference of CM7: that is, this time, many forummers here (property owners with vested interest) are desperately defending that property prices will continue chiong or remain stabilized, reasons quoted include, why would sellers sell, who will sell, further reduction of supply, abundant liquidity, low interest rate, why would this CM be different from previous ones, buyers rushed in at 11th hour before CM7, population and so on... -- all the common rhetoric that keep repeated over and over, until I feel that I must say something.

    First, it is quite a clear sign that some owners are desperately defending the property prices, this is an indication that CM7 has hit their nerves, and therefore, you would see one owner posting some reasons supporting his theory, the other owner would quickly post a supporting note and so on. I didn't see much of this in previous CMs.

    Second, CM7 is going to reduce demand to a larger extend than the reduction of supply, due mainly to the stupid ABSDs. I know many potential buyers who firmly decided not to buy. Lots of genuine demand have already been absorbed in the past years, coupled with the further reduction of demand which is much more than the reduction of supply, we are going to see the market titled to buyer side. Foreigners maybe rich, but they are calculative as well, and remember they account for just minority of the demand.

    I went to see quite a few resale units, and the sentiment I felt is the same everywhere, that is, there are not many sellers, but, there are almost NO buyers.
    Hi TS.......
    I think most property owners here (at least the active ones who post are not desperate). We are just sharing why we think that the prices may or may not correct.
    The property market will not change because of us expressing our opinion.

    IMHO.... the desperate ones are not property owners, but the ........
    You go fill in the blank (up to your imagination).

    Regarding the resale units.... how do you know if there are no buyers?
    You just need 1 serious buyer to cause a transaction to take place.

  6. #6
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    Quote Originally Posted by economist
    That's right, the 7% and 10% has really turned off many of the potential buyers.

    I didn't mean owners are desperately selling, I meant some of them are desperately posting here to defend their rhetoric theory, I did't actually want to post until I saw a thread today which almost made me laugh. Yes, sellers will not panic sell, supply will actually be reduced, what matters is that demand will be reduced much more than that!! As a result, more likely than not, residential prices will drop.
    There are 2 types of people here. There are end users and also investors. For investor like myself, constantly testing my investment theory in this forum. I also delighted at people who has opposing view. I am sure there are big players in the industry at this forum. The more extreme the view the better for me, so we can anticipate every possible outcomes. Looking forward to your kind contributions.

  7. #7
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    That's a very gracious post. Thanks.

    Quote Originally Posted by indomie
    There are 2 types of people here. There are end users and also investors. For investor like myself, constantly testing my investment theory in this forum. I also delighted at people who has opposing view. I am sure there are big players in the industry at this forum. The more extreme the view the better for me, so we can anticipate every possible outcomes. Looking forward to your kind contributions.

  8. #8
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    Hi,

    I am also a newbie in this forum. Since discovering this forum recently, I have never failed to login everyday to read up the interesting posts here. I must say the folks here are very knowledgeable and willing to share as well. I really picked up a lot in the past few weeks.

    Since this is an open forum, everyone is free to share their own views. As readers, we have the responsibility to do our own due diligence before making any purchases. We are using our own money to make the purchases, not the forumers here. So it is up to us to digest the info here, make our own deduction before making our own moves.

    If things go well based on the info here....great! If not, we have only ourselves to blame.

    Just my 2 humble cents.

  9. #9
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    These is no denial that property prices are will be affected by CM7. However, it is still too early to tell the impact. It may take abt 6 mths to see the real effects of the CM7.

    What we can see now is that developers are already absobing the 7%, effectively prices has drop by 7% for those who bought last month.

  10. #10
    Junior

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    I think TS is a newbie to the cyber world. I have been in the Internet property forums since like 2006. [B][SIZE="5"]WOAAHAHEHEHEHEHHEHEHEH[/SIZE][/B]
    [URL="www.facebook.com/tay.sim.tian"]www.facebook.com/tay.sim.tian[/URL]

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