Quote:
Originally Posted by Wiseman1
Dont be a clown like the rest of the sillyporeans. Are there ready buyers for your properties??? I can also say my properties are worth millions, these are meaningless numbers unless there are buyers knocking on your doors (not dodgy property agents who try to secure your biz by promising you sky high prices with no substance)
Always Remember: Juz because someone else can find a sucker willing to buy his house at a price which allows him to make 200% profit does not mean you would be just as lucky. The debt with the bank is real, but the promise of high selling prices and fat profits are mirages unless buyers are queueing at your doors.
This is a fatal mistake which I see a lot of Sillyporeans are committing, over leverage in properties dreaming of imaginery sucker buyers...what if you cant find that sucker???
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Relak lah, no need to resort to name calling. I thought it was important to recognize that the new normal to dealing with looming economic crises was to just pump in more money. As long as the big economies are doing this, the rest of us better know how to better deploy our cash.
Put them into assets (stocks, properties, or what have you) that can keep pace with QE induced inflation. Holding property in tiny Singapore over the long term may be one answer.
Also the "claims" by the omelet flipper are quite credible. He bought his first condo 5 yrs ago, in 2008 - the start of Lehman crisis. Property prices were definitely lower then. His 2nd property bought 3 yrs ago possibly from the developer at launch could have come with discounts. By just accounting for the discount, the property value would be 10% higher.
Finally your uncalled for outburst gave people the impression that:
1. You have been burnt by property investment before
2. You have missed the boat to invest in property, now can't afford to do so with all the CM in place
3. You are jealous