Quote:
Originally Posted by Unregistered
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. |
I think you dont understand Singapore's economy well enough. If a condo or landed property is high, that doesnt mean it is overvalued. In Singapore there are the low income, middle income, upper midle and very high income groups.
So if you cant afford, it is you not the price.
Most Singaporeans can afford a home as more than 90% of households are home owners. The BTO is made affordable to first time buyers. If a condo or landed is too high for a middle income family, then so be it. There are many rich families who can afford.
Work harder and smarter and you can one day achieve your dream condo or landed. Or just stay happy living in your
HDB flat for the commons.