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Whats your net worth

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  #1321 (permalink)  
Old 04-09-2013, 04:10 PM
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I also agree that now is the best time to sell as the market has peaked. Just look at the stock market. It is crashing. Many big property owners and players are selling. The oversupply is coming fast and furious due to the miscalculation of supply. We overreacted by all the noises and keep on supplying and now we have a huge oversupply and prices will come crashing down hard. If you buy with 20% downpayment, you will be underwater soon. You will lose your equity and more. If you bought your property 6-7 years ago, you would have made good profit and now is the time to sell. Just sell your HDB or condo now. Rent and wait to pick bargains in a couple of year's time. If we don't increase the inflow of FTs and rich PRs, prices will crash by 30-40% for sure.

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  #1322 (permalink)  
Old 04-09-2013, 04:22 PM
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Quote:
Originally Posted by Unregistered View Post
I also agree that now is the best time to sell as the market has peaked. Just look at the stock market. It is crashing. Many big property owners and players are selling. The oversupply is coming fast and furious due to the miscalculation of supply. We overreacted by all the noises and keep on supplying and now we have a huge oversupply and prices will come crashing down hard. If you buy with 20% downpayment, you will be underwater soon. You will lose your equity and more. If you bought your property 6-7 years ago, you would have made good profit and now is the time to sell. Just sell your HDB or condo now. Rent and wait to pick bargains in a couple of year's time. If we don't increase the inflow of FTs and rich PRs, prices will crash by 30-40% for sure.
I suppose it is not due to oversupply but instead, due to lower demand.
Tightened policies causing less FT inflow and thus PR.
Therefore, HDB price will sure be affected. Private market affected by neighbouring countries. Ppl are buying properties in Malaysia, Australia, UK and US.
As long as interest is low, I dont think it will down 40%, may be 15 to 20%

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  #1323 (permalink)  
Old 04-09-2013, 04:40 PM
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Thanks for the market analysis. My girlfriend and I are planning to get married. We hope the market will crash too by 40% so that we can get a cheap resale HDB flat. We saw some flats asking for $1m in Queenstown. We hope it will crash to $600k soon. Happy to read your post.

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Originally Posted by Unregistered View Post
I also agree that now is the best time to sell as the market has peaked. Just look at the stock market. It is crashing. Many big property owners and players are selling. The oversupply is coming fast and furious due to the miscalculation of supply. We overreacted by all the noises and keep on supplying and now we have a huge oversupply and prices will come crashing down hard. If you buy with 20% downpayment, you will be underwater soon. You will lose your equity and more. If you bought your property 6-7 years ago, you would have made good profit and now is the time to sell. Just sell your HDB or condo now. Rent and wait to pick bargains in a couple of year's time. If we don't increase the inflow of FTs and rich PRs, prices will crash by 30-40% for sure.

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  #1324 (permalink)  
Old 04-09-2013, 08:06 PM
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Hold your happiness till it actually happens. This is all talk now.

You must be patient and can afford to wait. A buyer will usually find the wait too long and unless he is not in any hurry to find a property, he will succumb to his own impatience.

My own experience when I was looking for a home was that when the price drop, the unit that you are eyeing is withdrawn from the market. You then settle for the second or third best. Another thing to think about is if you are buying for own stay, you may not need to catch it at the low cycle.

When the prices drop you will also see another type complain. People will blame the gahmen for making them put so much money into their HDB flats. They will say their whole life savings is gone and vote the opposition. In the end, the cooling measures will start disappearing. My point is, the window to grab a bargain may not be big. Got to be alert and nimble.

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Originally Posted by Unregistered View Post
Thanks for the market analysis. My girlfriend and I are planning to get married. We hope the market will crash too by 40% so that we can get a cheap resale HDB flat. We saw some flats asking for $1m in Queenstown. We hope it will crash to $600k soon. Happy to read your post.
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  #1325 (permalink)  
Old 05-09-2013, 08:21 AM
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Luckily I have sold my properties and now staying in my parent's GCB. I also hoping the market will crash by 50% so that I can buy a GCB. The coming huge oversupply will crash the market unless HDB disallow renting HDB flats whole unit and bring in more new rich citizens to absorb the oversupply. Then FTs no choice but to rent private and this will support the private rental market. I hope this will not happen. Please crash.
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  #1326 (permalink)  
Old 05-09-2013, 09:24 AM
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Quote:
Originally Posted by Unregistered View Post
Luckily I have sold my properties and now staying in my parent's GCB. I also hoping the market will crash by 50% so that I can buy a GCB. The coming huge oversupply will crash the market unless HDB disallow renting HDB flats whole unit and bring in more new rich citizens to absorb the oversupply. Then FTs no choice but to rent private and this will support the private rental market. I hope this will not happen. Please crash.
The thing is.. GCBs are relatively inelastic, so a crash won't hep you.
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  #1327 (permalink)  
Old 05-09-2013, 10:37 AM
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Quote:
Originally Posted by Unregistered View Post
Luckily I have sold my properties and now staying in my parent's GCB. I also hoping the market will crash by 50% so that I can buy a GCB. The coming huge oversupply will crash the market unless HDB disallow renting HDB flats whole unit and bring in more new rich citizens to absorb the oversupply. Then FTs no choice but to rent private and this will support the private rental market. I hope this will not happen. Please crash.
I think everyone here is hoping for property and stock market to crash, badly...
So that they are able to buy it during the low cycle. But be practical, when the market crash and property slump 50% and meet your target entry price, you may not buy it. Because you will be worried about your job stability, income, whether you can afford it if you lose your job. So to be frank, it doesnt affect much, only the super rich investor.
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  #1328 (permalink)  
Old 05-09-2013, 12:10 PM
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Default Crash magnitude

So much talk and anticipation about crash etc...

For $500k property that has appreciated by 100% to $1m today, remember that for it to get back to $500k implies a correction of 50%.

Those expecting a correction of 40% magnitude are unrealistic....more likely 15-20%.
Which in this example would bring the property down to $800-850k.
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  #1329 (permalink)  
Old 05-09-2013, 01:06 PM
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I bought a landed property in 2006 and sold it in 2012. The property has appreciated by 3 times and I made millions of dollars in profits. The $$$$ is now idly sitting in the bank.

I WANT THE PROPERTY MARKET TO CRASH BY 50-60%.

So that I can buy 5 condos, to be paid in cash, fully paid.

The coming huge oversupply will crash the market.
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  #1330 (permalink)  
Old 05-09-2013, 05:27 PM
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Quote:
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I bought a landed property in 2006 and sold it in 2012. The property has appreciated by 3 times and I made millions of dollars in profits. The $$$$ is now idly sitting in the bank.

I WANT THE PROPERTY MARKET TO CRASH BY 50-60%.

So that I can buy 5 condos, to be paid in cash, fully paid.

The coming huge oversupply will crash the market.
Oversupply or undersupply is depending on policies. Is not up to market to decide.. got it?
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