Quote:
Originally Posted by Wiseman1
There is nothing wrong with me, but something very wrong about your mentality. I am doing you a favor by shaking you out of the dreams and start facing reality. I had been on the boat, enjoyed the joys of sailing, saw it sunk right before my eyes and had to struggle to swim real hard to shore for my life.
I am not trying to be a wet blanket here.
Your mentality is typical of many here in this forum as well as many silly-poreans up there. All you all can think of is property prices would only head in one direction: north. Alot of you are probably old enough to have witnessed the last property downturn in the 1990s which lasted 10 long years and property prices hit rock bottom. The bottom line is that would happen again. It is just a matter of time. Either you guys have very short memories and you choose to conveniently forget it.
Even the National Development minister Khaw have spoken at least twice to ask Sillyporeans not to be too bullish on properties and sink too much cash into bricks and motar. Yet few sit up and take notice, continue to indulge in their property castle dreams.
Let me ask you: What is your basis for saying your property would double in value to $3m in 10 years? Did you just based it on past price trends and make a straight line extrapolation? Or the value would automatically reach that level simply because there are new MRT lines?? Either you are a property agent trying to do the typical sales pitch to the readers here or you are just pure naive and stupid.
I would ask you further: Who are going to be the target buyers for your so call $3M house? Even at your current worth of $1.7m it is already a very limited pool of high income earners who can be your potential buyers. You would have to make sure their income levels double in the next 10 years for you to be able to sell your house to them at $3m. What is the possibility of this happening??It is not even within your control!
And it follows from above that if you cant liquidate your house for $3m cash, what is the point of saying it is worth $3m???. Can you eat off the bricks and motars for your retirement years???
A word of advice: Dont count on your property value to double or triple for retirement needs or get rich, like what alot of the misguided sillyporeans out there are doing in herds, behaving like monkeys.
Put aside enough cash, dont sink all your fortune into bricks and motars, cash is always king. The low interest rate environment is only temporary, sooner or later the cash is going to earn you alot more interest than now!
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You got the point anyway. Just need a little tone down. Worth to be considered for most of forumer here. As most of Singaporean who making big in properties here are Chinese descent, the way they are thinking are almost equals to Chinese mainland. But they forgot that Singapore is not China. China property are going up because China is still in the stage of developing country, and the driving force of property price there is a huge urbanization force of migrant worker coming to city to find a job. But Singapore is just a small city. As far as gov still allow migration (either FT or rich individual) came in from another countries, there is a pushing up demand. But once the gate is close, the property price here will start to dwindling down. Property price is just like a stock market, it can go up and down, so you need to have entry and exit strategy as well, know when to buy and know when to sell is very important. Most people forget this point.