Quote:
Originally Posted by Wiseman1
I always find this Singaporean obsession with property investment very unhealthy and illogical.....I would like to remind you that our country is not a going concern....if you are accounting trained you would know what I mean......Singapore may not be around 100 years from now, or even 50 years, we are too small and the population is going down....we may be a one time hit miracle that's all, so if you sink so much money into houses, are you they would be worth anything 50 years from now???
the conventional argument is always land is scarce here so property investments would not go wrong, the favorite tagline from developers and agents.....what if there is no more Singapore in 50 years???
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Look I'm the one that has been saying why its not the right time to buy, but even I find your post above impossible to defend.
Reality is - if your assumption is that Singapore is going down in 50 years, there is no point buying anythingin Singapore. Be it property, shares, or even hold sgd.
if that is your hypothesis, the rational approach is to sell your property now, when its at an all time high, and buy something in Europe or the US (when the sgd is at an all time high, and where the property market in these countries - which presumably will still be around in 50 years - are depressed).
Or buy something in China or India where things are still less ridiculously priced, and where u have assurance that they will be around in 50 years.
I honestly doubt you'd consider either option.
Look, there's no doubt property in Singapore is over priced vis a vis fundamentals, but no point going to "chicken little' arguments to make your point either.