It worries me when I see lots of advertisements in the ST promoting buying property to get rich. One ad even say "use your
HDB to own private properties". I wonder whether they are asking people to take on more debt. Should someone who have paid off their
HDB loan now take more loan to invest? what if the economy tanks and they cannot finance their mortgage? what if they lose their jobs? i think many
HDB flat owners dream to own private property for investment. Because of the low interest rates, they are confident, what if interest rates start to rise? now
HDB flat owners can buy private property. this should stop. if they buy private, they must sell away their
HDB and take on as little debt as possible, to be financially prudent.
Quote:
Originally Posted by Unregistered
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.
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