How much are you earning per annum?

Originally Posted by Unregistered

COE prices for this 2nd Feb bidding will bounce back.

Cat A COE price likely to bounce to $68k. This is driven by popular Cat A models such as the Mazda 3, Kia K3, Hyundai Accent, Nissan Qashqai 1.2, Toyota Altis, etc.

Most car owners who have been keeping their cars for 7 years or older will be buying new cars. This is not surprising as their household incomes have gone up by at least doubled over the past 10 years. For instance, in 2005, their household income could be $70k pa. Today, their household income could be $150k - $250k pa. So, they have no problem paying for a $100k - $150k car as it only means spending $10k - $15k pa.

hello. Are you sure it will bounce back to $68k??
think you must have bought a car recently and cannot face the fact of a declining COE trend.

It shall drop to $60k this round, if not lower.

Originally Posted by Unregistered

Quite an achievement for you and wife. You have been living in a condo for 10 years. You would be among the top 15% of Singaporeans in terms of net worth since more than 80% live in public housing. Many in their 40s and 50s are still aspiring to upgrade to a condo. You have done well to be among the top 15% in social status.

There are so many condos, and new ones coming up and fully sold.. if 80% of Singaporeans (i presume including PR) stay in public housing then who is staying in the condos?

Originally Posted by Unregistered

Quite an achievement for you and wife. You have been living in a condo for 10 years. You would be among the top 15% of Singaporeans in terms of net worth since more than 80% live in public housing. Many in their 40s and 50s are still aspiring to upgrade to a condo. You have done well to be among the top 15% in social status.

Mr 15%. Enough lah. You should try hard to be the top 1%. Don't mingle with the other 14% lesser standard than yourself. Try harder still to be one of the thousand Singaporean to stay in GCB.

Originally Posted by Unregistered

COE prices for this 2nd Feb bidding will bounce back.

Cat A COE price likely to bounce to $68k. This is driven by popular Cat A models such as the Mazda 3, Kia K3, Hyundai Accent, Nissan Qashqai 1.2, Toyota Altis, etc.

Most car owners who have been keeping their cars for 7 years or older will be buying new cars. This is not surprising as their household incomes have gone up by at least doubled over the past 10 years. For instance, in 2005, their household income could be $70k pa. Today, their household income could be $150k - $250k pa. So, they have no problem paying for a $100k - $150k car as it only means spending $10k - $15k pa.

So exciting.... this bidding will see some freak results due to bidding days shorten to 2 days. many people on holiday so forget to bid.... Cat A will plunge below $50k.... Huat ah!

Originally Posted by Unregistered

Mr 15%. Enough lah. You should try hard to be the top 1%. Don't mingle with the other 14% lesser standard than yourself. Try harder still to be one of the thousand Singaporean to stay in GCB.

I don't need to be in the top 1%. As a modest millionaire, I'm happy to be in the top 5%. I don't want to risk what I have to try to be in the top 1%, I risk losing it all. I'm happy living a humble life in my new condo and driving my new car. I don't need to live in a GCB nor drive a $1m sports car. I rather donate part of my wealth to charity than to indulge in human greed and lust. Lead a simple, humble, happy and contented life.

Originally Posted by Unregistered

I don't need to be in the top 1%. As a modest millionaire, I'm happy to be in the top 5%. I don't want to risk what I have to try to be in the top 1%, I risk losing it all. I'm happy living a humble life in my new condo and driving my new car. I don't need to live in a GCB nor drive a $1m sports car. I rather donate part of my wealth to charity than to indulge in human greed and lust. Lead a simple, humble, happy and contented life.

You are richer than those 1%. Being content is not something that comes easily, especially not to people who are over achievers. Well done!

Originally Posted by Unregistered

You are richer than those 1%. Being content is not something that comes easily, especially not to people who are over achievers. Well done!

Thanks. Indeed your "richness" is not just being defined by material wealth. Besides wealth, it is also defined by your relationship with your family and friends, your religion, your charitable acts, having time to enjoy the experiences of leisure traveling (as opposed to biz traveling), reading, appreciation of God's creation of the Universe, being physically and mentally healthy, etc.

I used to be an over achiever, climbing the corporate ladder and amassing wealth. One day I realized that this pursuit of material wealth, status, grandeur, etc are just feeding my human ego. I became proud, looking down at those lesser than me, not caring about the poor and those in need, not having enough time spent with my children and elderly parents, hot tempered, highly stressed, high blood pressure, high cholesterol, heart issues, etc. It was destroying my life.

Now I decide to have a simpler and most meaningful life. I gave up my corporate suit and become independent, free from the shackles of office politics and subservience to selfish, back stabbing bosses and colleagues.

I'm a much happier and richer person now.

Originally Posted by Unregistered

hello. Are you sure it will bounce back to $68k??
think you must have bought a car recently and cannot face the fact of a declining COE trend.

It shall drop to $60k this round, if not lower.

Huat ah! I was correct. Cat A below $57k.

And more room to drop with the tsunami of COE quota coming up.

$30k COE here I wait! Huat Huat year!

Originally Posted by Unregistered

Huat ah! I was correct. Cat A below $57k.

And more room to drop with the tsunami of COE quota coming up.

$30k COE here I wait! Huat Huat year!

You said it will drop below $50k for this bidding. It didn't.

Who is the economic guru here? Luckily didnt buy car last month, coe is 10k cheaper now, waiting for another 10k drop in coe price to 50k before placing a order. Huat ah

Originally Posted by Unregistered

If you understand economics, price is determined by BOTH demand and supply. Supply of COE increase by x% but demand increase by 3x%, then prices will rise.

Demand for COE will be higher than supply due to:

1. Demand from current car owners replacing their old car to new car.
2. Demand from wealthier families due to higher income and wealth.
3. Boom in property market which allows families to flip and make money.
4. Increase in population.
5. Demand by families buying their 2nd, 3rd and 4th cars due to more working adults in the family unit.
6. Youngsters paid higher salaries.
7. Fall in petrol prices. Those who have been taking taxis now switching to cars.
8. Taxi fares are not cheap and difficult to get taxis during peak periods.
9. People buying to show off.
10. Many more reasons.