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Old 30-11-2011, 01:35 AM
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Originally Posted by Unregistered View Post
I lived through many property cycles, it not good time to enter at such peakish state, but if one really needs a roof, get something you can afford i.e. < 4 x annual salary excluding wife income, annual bonus.

I always advise young couples to start off in HDB first, and upgrade when you have saved enough. As some posters say, it is better to sleep well at night than to live in condo and worry every night of huge mortgage payment.

Every generation will have a chance to buy property at distressed price during crisis. Young ones, be patient, just wait for your turn... property prices cannot go up in straight line forever.
There are only 2 groups of people in this world: those who have guts and those who do not. Unfortunately, your advice wouldn't be of help to either group.

Those young couples who have guts would have bought distressed properties as recently as 2009, which was not even one-tenth of a generation ago, and would have seen their investment quadrupled at least, assuming a 20% down payment for suburban condos which have generaly double in price since then.

On the other hand, those young couples who do not have guts will only tremble and urinate in their pants even if a distressed property is offered right in front of their eyes with the economy around them collapsing, their jobs at stake and bonuses cut. They will live through many property cycles without doing anything, anyway.
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