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Woulds you still service your House Mortgage Loan?

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Old 24-09-2013, 05:44 PM
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Default Woulds you still service your House Mortgage Loan?

I start this tread with the impending trend that Housing prices are correcting, like it or not the truth is.......

MTD 24 Sept 2013 Sales:-
236 units (New, 2nd hand, subsales)
S$1,282 ave PSF

Aug 2013:-
860 units (New, 2nd hand, subsales)
S$1,356


July 2013:-
2,080 unit (New, 2nd hand, subsales)
S$1,360 ave PSF


Looking at the trend, volume and PSF price is dropping fast... with the hugh volume of TOPs etc coming in 2014. Those who bought recently...get ready for the ride.

Apprently, last weekend i was at a property launch in Hougang. it was launched in May 2013:-according to URA, Early bird transacted prices was high of S$1,492 PSF in May 2013 for a 700 S.F 99yr condo
Last weekend for the same size of 700 S.F... developer agent offered me S$1,298. For FULL CASH payment, he could gime another 2% more discount!!

That is a at least a whopping S$135K cheaper than early birds!!!

I bet some ppl may rebutt that early bird got the choiced units, good floor, etc... but we have to face correction reality at least for the next few years?

Would you continue to service the housing loan(with probable interest rate hike),dwindling rental return, ON TOP of a Devalued property? or to sell the house (if its your investment unit & not primary units)

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