How is life as a doctor in Singapore?

Originally Posted by Unregistered

If there is massive quantitative easing again we will see
Property and equities rise once more.
The financial system is quite broken already after they messed with printing money during covid

I didn't know there was QE during Covid.

Never studied Economics so not knowledgeable about all these.

But when there is a crisis and stocks and property prices drop, that is the best time to go in and buy.

Stock market fell in recent years, usually property will follow. So I am waiting for fire sales when overleveraged pple get burnt by high interest rates to go in and buy.

If I buy property now and it drops, banksmay margin call and ask me to top up cash. Ever happened before and heard pple were commiting suicide jumping off buildings.

Now with ocr properties selling at more than S$2000 psf, I think those pple who buy are at risk.

Do u youngsters know how to calculate networth? It is yr total assets minus yr total liabilities. It is important that yr networth grows as you get older.

My networth was only S$400k when I was a young MO staying in my EC. After property asset progression, it has grown to S$1.6 million now in my late 40s.

To continue, if I had continued staying in my EC, my networth from property would have only gained an extra S$100k but because I bought a freehold terrace and later 999 year condo, upgrading , my networth from property increase by an extra S$S 650k.

Originally Posted by Unregistered

I didn't know there was QE during Covid.

Never studied Economics so not knowledgeable about all these.

But when there is a crisis and stocks and property prices drop, that is the best time to go in and buy.

The current inflation problems stem from the monetary policies
During covid
Think about it. Economic standstill
No travel. People not working. No retail
Where did all the money printed go to?
Banks. And Tech.
Banks got so much money they lent at low rates to people
To buy houses.
Banks reported RECORD profits during economic standstill in
Pandemic.....
Logical?
Understandable? Yes!
Now is pay back time.

Originally Posted by Unregistered

Stock market fell in recent years, usually property will follow. So I am waiting for fire sales when overleveraged pple get burnt by high interest rates to go in and buy.

If I buy property now and it drops, banksmay margin call and ask me to top up cash. Ever happened before and heard pple were commiting suicide jumping off buildings.

Now with ocr properties selling at more than S$2000 psf, I think those pple who buy are at risk.

Sg govt has more control on property market
They will cancel ABSD and other taxes.
Sg govt always supports prop prices in sg.
Prop is heart and soul of sg economy.

Oic, is that partly why property prices shot up during the pandemix? Because of low intetest rates?

Originally Posted by Unregistered

Sg govt has more control on property market
They will cancel ABSD and other taxes.
Sg govt always supports prop prices in sg.
Prop is heart and soul of sg economy.

But in 1997, I heard there was a property peak then downturn in prices for about 10 years.

Prices of property does go up and down. After 2013 to 2018, my terrace house value did go down from S$1.8 mil to S$1.5 then back to $s1.8 mil wjen I sold.

So it is not an upward trajectory all the way.

Originally Posted by Unregistered

Do u youngsters know how to calculate networth? It is yr total assets minus yr total liabilities. It is important that yr networth grows as you get older.

My networth was only S$400k when I was a young MO staying in my EC. After property asset progression, it has grown to S$1.6 million now in my late 40s.

Net worth so basic also people dunno?
$1.6m in sg is not much considering the price of property in sg
Problem is people have to live on very expensive property assets
Cost of housing
Whats your debt to asset ratio?
Debt to equity ratio?
Debt to current assets ratio?

I am late 40s as well. Net worth $3m. Debt free. No mortgage.
All the ratios 0.
A
My net worth when I was MO living in HDB during SARS was 20k

Originally Posted by Unregistered

Oic, is that partly why property prices shot up during the pandemix? Because of low intetest rates?

Very much so.
Low rates.
Plus govts were paying people money.
Giving money to businesses
The nunber of bankruptcies globally DECREASED during covid
Where does the cash given out to people go to if they cannot spend?
Banks.
Banks had to decide what to do with the extra billions of deposits
They lowered mortgage rates.
Property went up. People wanted bigger home offices to work from
Also banks invested the cash deposits into T bills.
But when fed raised rates the yields from the T bills bought during covid
Were no longer attractive.
Some us banks like svb ran into liquidity problems when clients withdrrw all their cash
They had to sell their T bills. But mo one would pay what the bank paid for it.
The yield had to be higher and thus the value of the T bills halved.
Simple math. If $100k of T bills yield 2%. Now yield are 4%. So for those old T bills the value has to be 50k for the same yield to be now 4%.
Bank go bankrupt.
Sg banks have higher reserve ratios than US banks.