[Wiseman1]

Originally Posted by Unregistered

Chanced upon this thread. Here's my two cents worth.

Wiseman1 : If your advice is that we should only buy when the govt makes people pay 100% for their second, third and fourth property, I think you are effectively saying that people should never buy because this will never happen.

Unregistered bear: I agree with your points, you make sense. But like others have said, I would not have made money by buying in 09 if I used price to income as a guide.

Ptader: you have some valid points (and a number of very leaky arguments) but you are trying too hard. You would be more convincing if you had a point of view.

Personally, I think that things are a bit toppish, and personally wouldnt buy for investment, but if you need a place to stay I think there are still bargains to be had ie anchorage at $1200 psf near queens town, freehold, (nearby alexis going for $2k psf) or mutiara condos near great world city going for $1300+ psf, freehold (nearby latitude going for $2.2k psf). You probably won't see prices go down too much there.

What is the problem with making house buyers pay 100% cash for their 2nd or 3rd properties?? In other countries, it is unheard of for people to be holding so multiple mortgages all at the same time. It is basically courting the financial grave.

In fact, that is the only way to tame the current irrational demand for properties which contributed to the ever spiralling prices. If you cant afford to pay cash for investment properties, then you should not be buying in the first place. Dont pretend to be rich when you are not!!