How much are you earning per annum?

Originally Posted by Unregistered

Heres my prediction

Cat A: drop to $52k
Cat B: drop to $57k

Huat huat ah!

Everyone - Keep your predictions coming or else you will get bored.
Life of a typical...

Cat A will go to $65k
Cat B will go to $78k

I think demand for cars very high...got pple even thinking of taking equity term loan against their property to buy car as cheaper than car loan and can stretch loan tenure...

Originally Posted by Unregistered

Cat A will go to $65k
Cat B will go to $78k

I think Cat A continue to slide to $55K
cat B slide to $60k

Hope the car dealers will further drop their car price after next week.

Originally Posted by Unregistered

I think demand for cars very high...got pple even thinking of taking equity term loan against their property to buy car as cheaper than car loan and can stretch loan tenure...

10 years ago, a condo would have cost $500k, today it would be $1m or more. And most would have paid up their home loan. So, taking a home equity loan of $100k against a fully paid up property worth $1m is no problem at all. So, I also agree COE prices will go up for sure.

COE will never go down to as low as $30k. Only if property prices overall crash by 50% will COE also crash to $30k. Also don't forget household income would have doubled from $100k pa in 2005 to $200k pa today. So not possible for COE prices to crash.

Originally Posted by Unregistered

I think demand for cars very high...got pple even thinking of taking equity term loan against their property to buy car as cheaper than car loan and can stretch loan tenure...

This is BS. Nobody is messing with their existing mortgage loan due to TDSR.
Honestly, car is not for you if you need to take equity loan against your property. Try bicycle, mrt or walking (bmw)
Or, just wait for coe price to drop to 30k by end of this year

Originally Posted by Unregistered

10 years ago, a condo would have cost $500k, today it would be $1m or more. And most would have paid up their home loan. So, taking a home equity loan of $100k against a fully paid up property worth $1m is no problem at all. So, I also agree COE prices will go up for sure.

COE will never go down to as low as $30k. Only if property prices overall crash by 50% will COE also crash to $30k. Also don't forget household income would have doubled from $100k pa in 2005 to $200k pa today. So not possible for COE prices to crash.

Not forgetting our friendly garment has imported 1,000,000 FT over the past 10 years here... So how to keep demand down??

Those who are waiting and praying COE to drop better be realistic.

many young couples have no money to pay 50% payment, or their hands are tied by TDSR with heavy mortgage committments
For the middle class, be warned that sibor will shoot up to 1.5%. If you are taking equity loan, your interest payment will go by 20%
There are tsunami of coes coming to crash the market, at least 60k supplies coming. Also, many people are cash strapped with interest payments shooting up.. Wait for the perfect storm to buy cheap COEs at end of this year

Originally Posted by Unregistered

10 years ago, a condo would have cost $500k, today it would be $1m or more. And most would have paid up their home loan. So, taking a home equity loan of $100k against a fully paid up property worth $1m is no problem at all. So, I also agree COE prices will go up for sure.

COE will never go down to as low as $30k. Only if property prices overall crash by 50% will COE also crash to $30k. Also don't forget household income would have doubled from $100k pa in 2005 to $200k pa today. So not possible for COE prices to crash.

Last time, 0% downpayment, can drive home new car
Last time, you earn 1.5k, can drive home new car

Now, you need 50k cash to put downpayment to buy to buy 100k car
Now, your monthly debt payments cannot exceed 60% of your income

With tighter loan constraint, a lot of middle class families will not buy new car once their old cars reach 10yr mark.
Unless coe price drops to 30k, then they will come in and get the Altis at 70k. The market will reach the equlilbrium at this point at 30k coe price

Originally Posted by Unregistered

This is BS. Nobody is messing with their existing mortgage loan due to TDSR.
Honestly, car is not for you if you need to take equity loan against your property. Try bicycle, mrt or walking (bmw)
Or, just wait for coe price to drop to 30k by end of this year

I am talking about one forumer I came across thinking of getting equity loan for car....not me....

I already bought an Estima at 190k in 2012 when coe cat e was 89k....my income about 12k a mth and have rental income of $2200, car expenses $2500 a mth, less than 20% my income so still ok for me....