Quote:
Originally Posted by Unregistered
Obviously you are delusional. Don't compare Singapore with the US. In the US there were a lot of scams, people with no income got loans, MBS were packaged into AAA securities even though they contain toxic assets, etc. Singapore's system is more prudent. No nonsense and the government has taken many cooling measures which have worked in ensuring prices did not rise too much, too fast.
You can continue to build your castle in the air.
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And the 199x Singapore home crash did not happen either. At that time the Government was even more prudent because it did not allow the use of
CPF to buy homes.
For anyone thinking whether housing prices are too high/too low, please do your own research. One of the most important factors is the housing price/income ratio. EVERY SINGLE CRASH has been precipitated because eventually someone can not even pay the interest on the loan. If income seems to be keeping pace with prices, then yes home prices would not be overvalued. A corollary to this is whether income can take the hit when interest rates eventually rise when there is a crisis, and yes it will rise next time because banks will scramble to replace their capital ASAP.