How much are you earning per annum?

regular dude, 41, $67k pa. wife, 38, $60k pa. saves $30k pa.
regular home, an OCR old EC, worth $800k. loan $200k left. use cpf totally to pay.
one child in secondary school.
own a 6 yr old car. well maintained. no loan left.
we enjoy going for holidays during the school holidays.
thinking of australia in june this year.

Originally Posted by Unregistered

90% of people here are home owners so they would not want property prices to drop. Those who make noise are the minority who may include PRs and foreigners wanting to buy cheap properties here. They make noise online so you never know who they are, they may pretend to be locals but they may not be. Local Singaporeans have the choice to buy cheap BTO flats so they should not make noise. Those who want to buy cheap flats in matured estates are fussy folks. They want to buy cheap properties in prime areas. Just too much. These are the younger people who are pampered like little children.

Let me explain to you why by the very nature of the property market, there will always be discontentment over high property prices.

The property market in singapore is like a pyramid in terms of no vs price. Right at the top with very few nos is GCB followed by Bungalows,Semi D, terrace, condo, EC, HDB EA, 5 room, 4 room, 3 room and 2 rooms. The majority of people in Singapore stay in 4 room flats.

Let's say it is 2006 all over again.
A young couple buys a 4 room flat for $250k while an older couple buys a 1700sf FH terrace for 900k.

It is 2014. Young couple's 4 room flat is now worth $500k while older couple terrace is worth 1.8million..... The same 100% increase in price.

By your theory both couples are happy or equally happy. BUT do remember that the young couple, being young and knowing how to count, knows that a gain of $250k is NOT equal to a gain of $900k. In fact if ALL properties gained by 100%, the ones at the lower part of the pyramid will find it impossible to upgrade due to the simple fact that in 2006, the actual gap between the property that they own and what they aspire to get is small while in 2014, the gap has grown tremendously large.

This is the crux of the unhappiness behind the property price increases. There is only a group of people who may be happy I.e. The down graders or the people who Re selling to stay in Iskandar or Perth.

As for me, I am with the unhappy majority cos I am waiting to leap from HDB EA to terrace.

Originally Posted by Unregistered

Let me explain to you why by the very nature of the property market, there will always be discontentment over high property prices.

The property market in singapore is like a pyramid in terms of no vs price. Right at the top with very few nos is GCB followed by Bungalows,Semi D, terrace, condo, EC, HDB EA, 5 room, 4 room, 3 room and 2 rooms. The majority of people in Singapore stay in 4 room flats.

Let's say it is 2006 all over again.
A young couple buys a 4 room flat for $250k while an older couple buys a 1700sf FH terrace for 900k.

It is 2014. Young couple's 4 room flat is now worth $500k while older couple terrace is worth 1.8million..... The same 100% increase in price.

By your theory both couples are happy or equally happy. BUT do remember that the young couple, being young and knowing how to count, knows that a gain of $250k is NOT equal to a gain of $900k. In fact if ALL properties gained by 100%, the ones at the lower part of the pyramid will find it impossible to upgrade due to the simple fact that in 2006, the actual gap between the property that they own and what they aspire to get is small while in 2014, the gap has grown tremendously large.

This is the crux of the unhappiness behind the property price increases. There is only a group of people who may be happy I.e. The down graders or the people who Re selling to stay in Iskandar or Perth.

As for me, I am with the unhappy majority cos I am waiting to leap from HDB EA to terrace.

Yes, I am also the unhappy majority because I find it difficult now to upgrade from my current penthouse condo to a GCB, which is beyond my reach now. So unhappy.

Most human being are greedy. They always ask for more, bigger, better, etc. If they own a 2 room flat, they want a 3 room, if they own a 3 room, they want a 4 room. Some even want to move from a HDB flat to a landed. LOL.

Learn to be satisfied and contented. You will never be happy if you always want better and more. Why do you need a bigger house if you can't afford? If you really want to stay in a cheap landed, then buy a house in JB, many selling cheap as no one is buying due to massive oversupply. So you can buy cheap as stay there until you die.

33 years old, very stable job, $160k p.a. Wife is 32, just rejoined work force, expecting $200k this year. Live in old condo worth $1.9m (for now) in D11. Loan balance is $1.2m.
7 year old car with no loan.
Her cash savings are around $400k while mine is $100k.
Not ideal, given the large loan quantum, but i'm working to exit the rat race by 45 tops.

Originally Posted by Unregistered

33 years old, very stable job, $160k p.a. Wife is 32, just rejoined work force, expecting $200k this year. Live in old condo worth $1.9m (for now) in D11. Loan balance is $1.2m.
7 year old car with no loan.
Her cash savings are around $400k while mine is $100k.
Not ideal, given the large loan quantum, but i'm working to exit the rat race by 45 tops.

What work does your wife do? Earning $200k pa at the age of 32 is very high indeed.
I'm 45 but I only earn $70k pa.

Equally if not more important question is what job are you in? Dont you think you should be doing self reflection?

Originally Posted by Unregistered

What work does your wife do? Earning $200k pa at the age of 32 is very high indeed.
I'm 45 but I only earn $70k pa.

Professional couple, with 2 kids in primary schools.

Husband, 42

Income $130k pa.
Savings $35k pa
Expenses $95k pa.
- Mortgage $2k pm ($24k pa)
- 2L continental car instalment $2k pm ($24k pa)
- Car related expenses and taxes (pro rated) $1.5k pm ($18k pa)
- Parents' allowances $1k pm ($12k pa)
- Food during work week $1k pm ($12k pa)
- Holidays $5k pa

Wife, 40

Income $124k pa
Savings $52k pa
Expenses $72k pa
- Groceries $2k pm ($24k pa)
- Clothings and beauty care $1k pa ($12k pa)
- Parents' allowances $1k pm ($12k pa)
- Food during work week $1k pm ($12k pa)
- Children $1k pm ($12k pa)

46, small time entrepreneur, $65k pa net income. Spouse, 38, salaried worker, $60k pa.
Home is a 4 room HDB flat, bought cheap. No more loan. Now valued at $400k
Car is an old small car, used to ferry kids to school in the mornings.
We are in the low middle income group household with no debt.
We go holidays once a year in December to Thailand or Malaysia.
We live a simple life.

34, 110K pa salary 50k pa rental income. Waiting for property prices to crash so that i can buy a second investment property and upgrade my first investment property.

And maybe someday, I'll be able to afford a terrace ! I say that with some happiness because its fun to work towards goals. I compete with myself for self-improvement in net worth.

Not unhappy, but sure am impatient.