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How much are you earning per annum?

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  #8611 (permalink)  
Old 30-09-2015, 08:33 PM
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The number of foreign employment has crashed.

With the impending huge oversupply of properties coming, there will be empty condos everywhere. There will be more and more "ghost condos".

Those property investors, especially the middle income hdb dwellers, will be in deep trouble. They will have no tenant and their salary is not enough to service their mortgage. Worse still, interest rates is rising.

The property market will crash unless we bring in a huge number of foreign workers and foreign talent immediately to rent the empty condos and empty hdb flats. There must also be a big cut in property supply to solve this huge problem.

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  #8612 (permalink)  
Old 30-09-2015, 08:57 PM
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Agree that property looks bad but just curious what is your definition of property crash ?

If u think property goes down by 50 %, then u r looking at STI below 1850.
Can happen meh ?

Think even if drop, at most 25-35%. once hit this kind of level, govt just needs to u turn policy and the property will bounce up again.


Quote:
Originally Posted by Unregistered View Post
The number of foreign employment has
crashed.

With the impending huge oversupply of properties coming, there will be empty condos everywhere. There will be more and more "ghost condos".

Those property investors, especially the middle income hdb dwellers, will be in deep trouble. They will have no tenant and their salary is not enough to service their mortgage. Worse still, interest rates is rising.

The property market will crash unless we bring in a huge number of foreign workers and foreign talent immediately to rent the empty condos and empty hdb flats. There must also be a big cut in property supply to solve this huge problem.


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  #8613 (permalink)  
Old 30-09-2015, 09:07 PM
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Dont understand why you so kan-cheong.

Are you heavily vested in property?

Think about those who are waiting to get their hands on a condo or landed property. To them the prices have not come down enough.

Not many HDB dwellers own private properties, I think at most about 50,000 families? I recalled a few years ago a news paper report said about 34,000 HDB dwellers also owned a private property. The number is small and I believe this group has ample financial muscle to tahan some more dip in the prices.

And those private property owners with more than 1 property, I believe they should be even more able to tahan the dip.

And those who bought after the cooling measures were implemented? This group even better prepared because they would be taking less loans because of the measures.

So unless there is a big downturn in the economy, I think prices will not crash.

Quote:
Originally Posted by Unregistered View Post
The number of foreign employment has crashed.

With the impending huge oversupply of properties coming, there will be empty condos everywhere. There will be more and more "ghost condos".

Those property investors, especially the middle income hdb dwellers, will be in deep trouble. They will have no tenant and their salary is not enough to service their mortgage. Worse still, interest rates is rising.

The property market will crash unless we bring in a huge number of foreign workers and foreign talent immediately to rent the empty condos and empty hdb flats. There must also be a big cut in property supply to solve this huge problem.

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  #8614 (permalink)  
Old 30-09-2015, 09:13 PM
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When that time comes Huat ah! more bargains to pick up

Quote:
Originally Posted by Unregistered View Post
The number of foreign employment has crashed.

With the impending huge oversupply of properties coming, there will be empty condos everywhere. There will be more and more "ghost condos".

Those property investors, especially the middle income hdb dwellers, will be in deep trouble. They will have no tenant and their salary is not enough to service their mortgage. Worse still, interest rates is rising.

The property market will crash unless we bring in a huge number of foreign workers and foreign talent immediately to rent the empty condos and empty hdb flats. There must also be a big cut in property supply to solve this huge problem.
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  #8615 (permalink)  
Old 30-09-2015, 09:17 PM
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Quote:
Originally Posted by lazyplane View Post
Agree that property looks bad but just curious what is your definition of property crash ?

If u think property goes down by 50 %, then u r looking at STI below 1850.
Can happen meh ?

Think even if drop, at most 25-35%. once hit this kind of level, govt just needs to u turn policy and the property will bounce up again.
My definition of crash is a drop of 30% - 40%, which will cause many people into negative equity. But the worst situation is that there will be no tenants for investment properties and people can't service their mortgage. Property is the worst investment you can think of right now. Our foreign labour tightening policy is just too much.
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  #8616 (permalink)  
Old 30-09-2015, 10:03 PM
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I also wish for that kind of correction, but on a serious note only a global economic collapse might kick that off.

There is just too much cash in the system now from all the money printing which makes it hard to predict what can happen, if government removed foreigner levy don't be surprised to see PRC / hedge fund comes and buying the whole block. I seen it happened before and the joker even paid for the stamp duty (abit less though cause apparently can bargain one for bulk buyers)

Too many rich people in the world hard to fight.

Quote:
Originally Posted by Unregistered View Post
My definition of crash is a drop of 30% - 40%, which will cause many people into negative equity. But the worst situation is that there will be no tenants for investment properties and people can't service their mortgage. Property is the worst investment you can think of right now. Our foreign labour tightening policy is just too much.
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  #8617 (permalink)  
Old 01-10-2015, 07:33 PM
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With interest rates expecting to rise, it is best you clear your mortgage debt fast.
I've cleared the mortgage for my condo.
I have also cleared my car loan debt.
I'm debt free. Can sleep in peace.
I'm 47.

How about you? Are you still in debt? How big is your debt?
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  #8618 (permalink)  
Old 01-10-2015, 11:30 PM
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Quote:
Originally Posted by Unregistered View Post
With interest rates expecting to rise, it is best you clear your mortgage debt fast.
I've cleared the mortgage for my condo.
I have also cleared my car loan debt.
I'm debt free. Can sleep in peace.
I'm 47.

How about you? Are you still in debt? How big is your debt?
I am 44 this year and married with two kids.

I totally agree with your assessment to be debt free.

Fortunately I cleared my condo mortgage before I hit 40 years, and recently I paid my new luxury car in full. So i am able to sleep well too.
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  #8619 (permalink)  
Old 02-10-2015, 12:27 AM
Unregistered_101
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Hrmm my residence is fully paid for, investment properties 50% borrowed on asset value. They generate rental income so not too concern on paying them up, my war chest has enough to pay off all the loans but don't see a point really since that will leave me little to reinvest when the market goes down.

Debt has to be balance with income, there is good debt and bad debt so long as its not the latter its all good.


Quote:
Originally Posted by Unregistered View Post
With interest rates expecting to rise, it is best you clear your mortgage debt fast.
I've cleared the mortgage for my condo.
I have also cleared my car loan debt.
I'm debt free. Can sleep in peace.
I'm 47.

How about you? Are you still in debt? How big is your debt?
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  #8620 (permalink)  
Old 02-10-2015, 08:40 AM
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Quote:
Originally Posted by Unregistered_101 View Post
Hrmm my residence is fully paid for, investment properties 50% borrowed on asset value. They generate rental income so not too concern on paying them up, my war chest has enough to pay off all the loans but don't see a point really since that will leave me little to reinvest when the market goes down.

Debt has to be balance with income, there is good debt and bad debt so long as its not the latter its all good.
Be prepared for your condo to be empty for a long time. Ghost condo. Ghosts staying in your empty condo.

Big downside economic risk due to the massive oversupply.
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