wall street bailout is just the beginning of the worse

angel7030 SG

This may be the sign of worse things to come.

Singapore's export driven economy is the first to suffer among Asian countries despite the government's efforts to diversify the economy.

People keep having this perception that HDB prices will hold or at worse drop by a little but I am skeptical.

It could get very ugly come 2009.

Oh, lucky, me private house at joo chiat, no problem hor...hmmm..base on peace and harmony, to build a democratic society..yeah!!

angel7030 SG

singapore has indeed been in a technical recession the second in asia after new zealand.

aint LKY and Tharma reasurres us that we are in a good shape? in such a good shape that we are second in asia to be in recession?

anyway, watch for next support for STI at 1800. if that cant hold, good luck!.

if you think property prices are still going to hold, think again.the property bust will come to singapore sooner than expected. with job losses from banking sector, manufacturing sector, services industry on the rise, thus freezing bonus, increment and salary cut. it wont be long before and exodus of downgraders from Mid tier private property down back to HDB.

hold on to your HDB apartments. so far this is the best bet to hold on.

Heil Hitler!!

But fuhrer,

How about our bunkers and the gas chambers??

angel7030 SG

it was so serious that average icelandic ppl has a debt of over USD130,000 to bail out the country financial system.

it was the hightest leverage in EU if my source is correct.

Dun worry lah, they are Nomadic people, can survive thru winter storm with polar bear bear one lah.

reyes SG

But fuhrer,

How about our bunkers and the gas chambers??

no worry, my contribution to singapore contruction industry is to built more bunkers and chambers for those idiots who get us into this shit hole. why no minister from singapore come out to claim credit. if the can fix this, i nazi salute them.

angel7030 SG

But fuhrer,

Dear Fuhrer, msg noted
ALL their ministers now are having a meeting on their pay increasing matters

reyes SG

HBD will generally hold out well discount those who pay 800K for a HDB. if u buy during the 2003-5 times, 200k for a 5 room flat. you can rest in peace as there are many PR queuing to buy it from u.

how more more can you downgrad from a 4-5 room flat.

how much more cheaper can you sold lower than the 200k/unit?

charlize SG

HBD will generally hold out well discount those who pay 800K for a HDB. if u buy during the 2003-5 times, 200k for a 5 room flat. you can rest in peace as there are many PR queuing to buy it from u.

how more more can you downgrad from a 4-5 room flat.

how much more cheaper can you sold lower than the 200k/unit?

Nobody is safe from a recession. Not expats, not foreign workers, not Singaporeans or PRs.

The boom in property prices and property rentals for the past few years was fuelled in part by the rising number of people coming to Singapore to work. ie. they needed to rent a place to live. If this group of people left, a corresponding amount of demand for property will decline.

Already, you can see that there is some excess supply of HDB flats out in the market right now.

I am hard pressed to believe media reports who claim that the property market will hold.

Looking back at the history, you will see that there is a strong correlation between the sg property market and the sg stock market. ie. the property market lags the stock market by maybe a quarter or two.

This week saw one of the worse performances in the stock market in a long time.

Let's hope the property market will not correct as severe as the financial markets in the coming months.

charlize SG

Regarding the property market lagging the stock market by a quarter, I found this interesting article.

http://www.salary.sg/2008/property-prices-must-plunge-graph-included/

Just some food for thought.

av98m SG

Nobody is safe from a recession. Not expats, not foreign workers, not Singaporeans or PRs.

Already, you can see that there is some excess supply of HDB flats out in the market right now.

I am hard pressed to believe media reports who claim that the property market will hold.

This week saw one of the worse performances in the stock market in a long time.

Let's hope the property market will not correct as severe as the financial markets in the coming months.

I know many who will be very happy with a property market collapse so that they can finally purchase homes at a decent price

charlize SG

I know many who will be very happy with a property market collapse so that they can finally purchase homes at a decent price

That's provided you have a job and spare cash to purchase the property when the price is low.

If you have no job, no bank will want to finance you.

Pity those who bought HDB flats or private condos at the peak.

av98m SG

That's provided you have a job and spare cash to purchase the property when the price is low.

If you have no job, no bank will want to finance you.

Pity those who bought HDB flats or private condos at the peak.

Ah yes, those new lovely condos going at 1.8 mil upwards, and the 700k flats.

I wonder what happened to the en-bloc speculators who were unable to offload their units in time

charlize SG

The thought of a HDB flat worth half a million is like mind boggling.

Divide that by 20 for a 20 year loan, you need to pay 25K a year, excluding interest.

To me, that's a lot of money.

av98m SG

The thought of a HDB flat worth half a million is like mind boggling.

Divide that by 20 for a 20 year loan, you need to pay 25K a year, excluding interest.

To me, that's a lot of money.

and after all that, the flat still doesn't belong to you. it belongs to the government.

charlize SG

and after all that, the flat still doesn't belong to you. it belongs to the government.

Hanor, hanor.

angel7030 SG

Nobody is safe from a recession. Not expats, not foreign workers, not Singaporeans or PRs.

Already, you can see that there is some excess supply of HDB flats out in the market right now.

I am hard pressed to believe media reports who claim that the property market will hold.

This week saw one of the worse performances in the stock market in a long time.

Let's hope the property market will not correct as severe as the financial markets in the coming months.

I tolong to differ, property market rises when govt start to chase those park and bus stop sleeper away, so these poor souls hv to find a shelter over their heads, thus rented houses increased the property markets. Once govt allow bus stop and parks or even shopping centres and temples space for sleeping, property market will go now.

angel7030 SG

and after all that, the flat still doesn't belong to you. it belongs to the government.

No, it privatised, it belong to private govt

charlize SG

Might be possible next time.

When the casinoes are up and running, you will see all these gamblers all sleeping in and around Sentosa or Marina Bay 24 hours a day.

reyes SG

the market did indeed open higher,will it hold? probably not?

it has no longer just financial crisis anymore.

world recession is on the brink. singapore has started, just look at the result of SPH. drop12%.

HDB houses prices are indeed supported by PRs. whether it will hold will greatlt depend whether they remain in singapore more move somewhere else. downgraders could also fill the void left by them.

i still think mid tier and low tier HDB houses are pretty safe.

reyes SG

the market has rally. will it last? i would sell into any rally.

the fundamentals of the problems is not away. this is no longer just a financial crisis. it has turn into a global recession!

i think we are heading back to 1800 soon.!

reyes SG

to all those who had bought trust, reits. please becareful.

these are very high gearing. in crrent market where funding is difficult, these are very high risk investment.

just my personal opinion.

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