Is present upturn in property and shares a success story?

robertteh SG

47WYL18RW wrote:
they r in parliment making policies that deseeved to be praised:

lowest unemployment
highest stock+properties prices.
strong economy
better health care
money money in citizens' pockets.
good--ha.

If they the ministers got the pay increases while majority (80%) of population are still struggling for a living in having to pay their heavy mortgages and their basic housing, utilities and transportation, is that a success story worth telling to the whole world.

If the long-awaited economic recovery only comes about through world recovery and not from our own internal economic vibrancy like the Koreans or Switzerland have achieved is that world standard?

If any upturn due to external recovery comes about actually comes about due citizens' sacrifices in cutting their own cpf and wages or losing of jobs to many thousands of foreign semi-skilled or semi-trained lower rate workers, is that a good success story to tell the whole world.

If nkf told lies about reserves and were prosecuted but ministers do the same about successful performance when it is far from a success, should ministers be impeached for not telling the whole truth as sworn on their swearing in oaths.

leilan84 SG

depression and recession is not a perm thing you know?
it's just a matter of time the economy improve. Laughing

robertteh SG

Last recessions lasted 7 (1997-2004) years. There were few success periods as in between them there were short recoveries only.

Ministers have failed to restructure the economy because government is taxing and double-charging citizens to kill the economy or the goose that lays the golden egg. They were quick to blame the recession on world economy. They paid themselves the highest salaries and could just be excused by using the controlled media to give excuses.

Do you believe that the economy now is created by the ministers and rebound due to people's cpf cuts and wage cuts claimed by them as their own success will be sustained to avoid another 7 years' recession.

countdracula SG

it could just be fool's gold....all these rush in property prices....

seems to me there's double speak from the ministers on the rising prices...mah said still affordable, goh said not a problem, then old lee said must check or else doom.....looks like they have different script writers these days...

BillyBong SG

Goh Chok Tong already said he's got better things to worry abt.

Anyway, property prices are bound to burst. Bishan maisonette owners are already feeling the pinch. They 'highly-rated' flats are now going for just 720K, far cry from the 800+K they originally purchased them for.

While the marina bay and central condo property prices continue to boom, i expect the heartland prices to level out after this inital craze. HDB flats are still being sold at discount rather than subsidy, and this only heightens fears that some people are willing to pay ridiculous dollars for re-sale flats.

reyes SG

dispite the recent surge in property prices and stock market i think most middle lower and lower class barely benefited it at all.

the surge in property prices does not benefits most singaporeans and it create more problem for young couples who intend to buy a HDB flats.

if we are suppose to sell our flats, where are we going to stay?
the recent influx of inforeigner will cause prices of property, food, rental prices to go up further. which the poor and lower middle class ppl will suffer further.

i blame for the high living standard here in singapore and the govt arent doing its best to control the prices of essential items.

below are some prices compare between china and singapore/
instant noodle/bowl RMB2.50 (50 cents). singapore $1.50-2.00(4x)
packet of veg. RMB0.30 (0.06 cents) Singapore $0.50( 9x)

play_n_play SG

wish same statememts r made when economy is not that good... Very Happy

countdracula SG

the high standard of living is one thing, the root cause is sg model of capitalism is flawed....

market economy is their mantra, all is good but the problem here is that they themselves are the market makers and in a zero sum game economy, the market maker always win...transport fares were raised to give the companies more profits to prevent some notional 'loss'...same for utilities and now nets has jumped on the bandwagon....

broadband access is costly only because of greed...korea has almost everyone on the net due to lower cost, in turn they have one of the best online economies after the japs and americans...

the govt is unwilling to create the market where it's actually needed....look at the hooha with the opening of mrt stations....not enough people...good god! make the place accessible and you have the people....up till now punggol 21 is just that.....21 residents for every hdb block...their insistence that the place be filled up before they extend other infrastructure is like putting the cart before the horse...

more is to come, just watch....sg is nothing more than about real estate...the reason they want 6.5mil folks is because all these people need a roof over their heads and state land through hdb is the best cash cow ever......

robertteh SG

luvmibiz wrote:
1. Lowest Employment...Which Asian country is faring badly in this category? Mr Gay can use that to argue for his gay masters.

2. Highest stocks + properties prices...Which Asian country is not enjoying highest stocks? Property prices in HDB is enjoying highest prices? Mr Gay can look at malaysia's stocks market can say it again....

3. Strong economy....Which Asian country is not enjoying strong economy. Mr Gay can use that to argue for his masters.

4. Better health care? This is great....Can Mr Gay suggest to me which country has free public health care.....

5. Money in citizens' pockets....You mean the ministers' pocket?

Aiyah wrote:
47WYL18RW wrote:
they r in parliment making policies that deseeved to be praised:

lowest unemployment
highest stock+properties prices.
strong economy
better health care
money money in citizens' pockets.
good--ha.

That's a bunch that were never slow at self-praises and clapping each other on the back.
Also too arrogant and selfcentred to understand their shortcomings.

Other countries mature or not mature economy are not making 6-8% GDP obviously. That is the gist of MM Lee's self-glorification talk shop as always.

The world economic recovery is the result of Singapore ministers working doubly hard and smart all these past years to bring that about so that Singapore finally has recovered from one of the deepest prolonged recessions which were blamed on citizens' lack of skills or retraining.

gerrykoh SG

It only benefits the rich who own more than 1 property.
I know someone who made $1 million profit just by flipping his prop. in Marina area.

The rest of us cannot sell cos we won't have a roof over our head.
My friend whose property is going enbloc was offered over $900,000 but she says she is unable to find similar prop. in East Coast at this price.
The only way to profit is downgrade to HDB.

leilan84 SG

listen to old lee about the property matter better...
or else really doom for us

dragg SG

booms always only benefit the rich investors!!

Mad Mad Mad

Daddy!! SG

wrong. booms benefit those who took additional risks, and vice versa. i have seen many low to middle income get wealthy recently because they took risks.

so you are wrong to draw the above conclusion :-)

user_0 SG

Question: Is present upturn in property and shares a success story?

Yes, it is. It is due to the global economy that is growing, and the administration's ability to position Singapore economy to benefit from the growth.

I am glad that there is an upturn. It also means the current administration ought to get a pat in their back.

Of course, that doesn't mean they will forever have my undying love and support... Smile

walesa SG

In 1980, Ronald Reagan famously made the following remark in his Presidential campaign to dethrone Jimmy Carter, "Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his."

It's not hard to see Regan's words aren't exactly out of context with the cure needed to fix the problem in place here... Laughing