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Whats your net worth

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  #1281 (permalink)  
Old 27-08-2013, 10:43 PM
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Property bubble in JB. Prices will collapse along with the RM free fall. With oversupply of condos and landed in JB, and so much empty land, you can forget about the resale and rental market there. Can buy but cannot sell. Also high crime rate. Just read about the many shootings. Very scary!

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  #1282 (permalink)  
Old 28-08-2013, 09:53 AM
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All these happened due to greed..
Ppl always think that property is safe, esp landed..
without knowing some simple concept of Supply and Demand.
What they know is chase high, when ppl starts buying crazily then they follow
Those who make money are ppl who invested years back before the craze, the ones with foresight and not follower...
Followers will lose out forever, in property, gold, stock...
Prices are super high now in JB, even condos selling more than RM1mil..
Even so many aunties are buying to invest..

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  #1283 (permalink)  
Old 28-08-2013, 10:14 AM
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Tell them to cut their losses and bring back their money. What if S$1=RM4? Don't say currency losses doesn't matter, that's stupid excuse. Better sell now before the panic exit starts. After they get back their money, tell them to pay off their Singapore mortgage and don't be itchy. Better be safe than sorry.
My gut sense is also to tell them to get out, but I guess when you have big amounts invested inside the emotion take over. The problem is when you borrow the gain & losses will multiply. For them drop in RM and agent selling commission will multiply the losses to at least 30% of their initial investment if they sell now, so not thinking rationally.

The friend that commission the agent to sell has got buyers willing to pay, just that price is below his break even so he want to continue waiting further. I feel this whole Iskandar thing is like a con job to bluff our money like CLOB in 1990s.

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  #1284 (permalink)  
Old 28-08-2013, 11:20 AM
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My gut sense is also to tell them to get out, but I guess when you have big amounts invested inside the emotion take over. The problem is when you borrow the gain & losses will multiply. For them drop in RM and agent selling commission will multiply the losses to at least 30% of their initial investment if they sell now, so not thinking rationally.

The friend that commission the agent to sell has got buyers willing to pay, just that price is below his break even so he want to continue waiting further. I feel this whole Iskandar thing is like a con job to bluff our money like CLOB in 1990s.
I think your friend is an amateurish investor who don't understand the concept of risk management and cutting losses. Only the true professional investors can cut their losses without regretting. He wants a price to break even, eventually he will lose even more because prices will keep dropping there and his currency losses grow even bigger over time. These type of people are better off doing nothing than investing. He will have to write off his investment and treat it as a bad dream.
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  #1285 (permalink)  
Old 28-08-2013, 11:43 AM
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I think your friend is an amateurish investor who don't understand the concept of risk management and cutting losses. Only the true professional investors can cut their losses without regretting. He wants a price to break even, eventually he will lose even more because prices will keep dropping there and his currency losses grow even bigger over time. These type of people are better off doing nothing than investing. He will have to write off his investment and treat it as a bad dream.
Met an auntie last week when I went to JB in bus...
She kept telling me to invest in JB as RTS, MRT... upcoming and by then will make a lot...
She was there to monitor the reno of her invested unit.
So surprise that I did not invest any in JB.
Can only say sorry to her if the bubble burst.. If her property is in Singapore or may be KL, I would say keep it and wait for price to appreciate after the bubble, because there is demand in these areas. Ppl need to get a house to stay in Sg and KL. but if it is in Iskandar, Sorry... Price is too high for many locals and there is not much demand compared to supply. Purely speculations over high expectation of Iskandar and partly some singaporeans are so eager to invest in properties and could not do it in sg..
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  #1286 (permalink)  
Old 28-08-2013, 11:50 AM
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I think your friend is an amateurish investor who don't understand the concept of risk management and cutting losses. Only the true professional investors can cut their losses without regretting. He wants a price to break even, eventually he will lose even more because prices will keep dropping there and his currency losses grow even bigger over time. These type of people are better off doing nothing than investing. He will have to write off his investment and treat it as a bad dream.
Iskandar is not exactly a con job, just ppl blindly listen to agents, advertisements and follow others to invest without thinking at all and balance out the risk and gain..
JB property has been dead for so many years and because of Iskandar and RTS, prices gone crazy to few hundred % increased. Eg RM1m condo in JB, you can get $400 HDB here.. but the HDB price is stable unlike the overpriced condo.. ppl just nv learn even after the subprime crisis.. only one word, greed...
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  #1287 (permalink)  
Old 28-08-2013, 12:13 PM
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Met an auntie last week when I went to JB in bus...
She kept telling me to invest in JB as RTS, MRT... upcoming and by then will make a lot...
She was there to monitor the reno of her invested unit.
So surprise that I did not invest any in JB.
Can only say sorry to her if the bubble burst.. If her property is in Singapore or may be KL, I would say keep it and wait for price to appreciate after the bubble, because there is demand in these areas. Ppl need to get a house to stay in Sg and KL. but if it is in Iskandar, Sorry... Price is too high for many locals and there is not much demand compared to supply. Purely speculations over high expectation of Iskandar and partly some singaporeans are so eager to invest in properties and could not do it in sg..
Many aunties and uncles will lose money. I think there is one auntie forumer here who bought a JB semi d. Good luck to her!
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  #1288 (permalink)  
Old 28-08-2013, 12:18 PM
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Many aunties and uncles will lose money. I think there is one auntie forumer here who bought a JB semi d. Good luck to her!
Wonder why ppl nowadays thinks that property will only go up and nv come down..
what they see is what they want to see, price soaring and the buying craze..
but nv do enough homework, if you drive at night and see condos completed years ago are mostly dark, not occupied..
Investment is like music chair, be the first few not the last few..
Even market aunties know is lucrative to invest in properties what about developers, real estate agencies, government, private funds.. ??


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  #1289 (permalink)  
Old 28-08-2013, 12:30 PM
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The friend that commission the agent to sell has got buyers willing to pay, just that price is below his break even so he want to continue waiting further. I feel this whole Iskandar thing is like a con job to bluff our money like CLOB in 1990s.[/QUOTE]

Some aunties are really funny, they will tell you my condo in Iskandar is now worth RM1M which I bought for RM800k last year, and when you find out more, the figure is told by her agent, and persuading her to buy more units since price is steaming. And when you put a price tag of RM1M for the condo, you have to wait for years to sell it at the price, and some even offer RM750k only.. basically, you can tag how much you want and continue to dream that your condo have doubled its value but there is no dumb carrot head paying for that..
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  #1290 (permalink)  
Old 29-08-2013, 09:09 AM
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I'm working as an admin clerk, earning $35k pa. 45 years old and living in a small flat. My elderly parents, who sold their old terrace house and now living in a small new condo, gave me $1m (from sale of their terrace) to keep in the bank. Some people say I'm a millionaire but I feel ordinary. I'm quite poor actually. I may give the $1m to my children when I die. I take the bus everyday and my wife cook simple meals. I don't want to invest as there are many cheats out there. Also, my boss said the market will crash. I'm scared to lose the $1m, better keep safely in the bank.


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