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Old 30-08-2011, 10:17 PM
Wiseman1 Wiseman1 is offline
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Quote:
Originally Posted by Unregistered View Post
First, will property prices drop by so much?

If my understanding of the standard mortgage contract is correct, the bank reserves the right to recall the loan or ask you to top up the difference at its discretion.
The answer to your first question: You are dead wrong. Singaporeans have grown complacent and overly optimistic on the property market due to the relentless increase in prices over the past couple of years. What goes up must come down and prices had declined by as much as 50% in the late 90s property crash. It would definitely happen again, not if but when, and my gut feeling is it is coming within the next few months.

You can see it happening already

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