Market issit bad now?

[leslie]

Just buy within your means. I would recommend first time buyer to get a new HDB flat(if you have not hit the income ceiling) so you could enjoy subsidized housing. Then plan for a 2nd private property.

new bto are also overpriced lor. clementi 4 rm bto = 550k?

imagine 3 years wait. skali 3 years later price dropped and alot of applicants give up leh? lose 5% deposit nia.

economy things very hard to say. can go sour anytime.

[leslie]

i remember last year all the financial reports said this year property will go down...well they are all wrong!
not only never go down... it went up and up!

this year all the expert gurus are again saying next year everything will go down....lets see.

what I learnt after so many years reading the reports of these experts is your guess is as good as theirs, so forget about "next year will be bad or bull coming once they solve the euro issues."

2008 didn't hit us so badly, I upgraded to a bigger property when the doomsayers predicted it was only the start of a decade of financial meltdown ...how wrong the experts were,stock and property markets recovered within a year plus and property prices doubled in some places!

this tiny island singapore is flooded with so many rich people and each family with their multi millions of dollars in their private bank accounts I only smell and see money everywhere .....ignore those who say the end of the world is coming or those who say the bulls are coming....

Rule No 1 for me now is "Hope for the best , prepare for the worst"

Rule No 2 you got stay invested no matter what, selling everything is also taking risks cos if market turns up, your cash shrinks further, remember money only gets smaller every year.

actually it should have crashed in 2008 one. only fed reserve money printing saved us.

[jieming]

Buy within your means. If you look 4rm at non mature estate which is around 300k+-. If the market goes down, at least you will not hit so hard.

new bto are also overpriced lor. clementi 4 rm bto = 550k?

imagine 3 years wait. skali 3 years later price dropped and alot of applicants give up leh? lose 5% deposit nia.

economy things very hard to say. can go sour anytime.

[leslie]

Buy within your means. If you look 4rm at non mature estate which is around 300k+-. If the market goes down, at least you will not hit so hard.

bro. nowadays govt wants everyone to speculate. even buying public housing also can kenna burn.

[wolfeyes1974]

thats why, you guys should buy my freehold D9 property at a super fair price, tenanted at 3.5%pa yield.
pasir ris? punggol? 99yrs and at those prices? aiyoh.....no lah......

check out my fair deal at garage place - misc items and PM me if serious.
owner to owner discussion, honest and direct.
cheers.....

Yours too small for me. Am looking at 3 bedrooms la although also looking at river valley side. My old unit was 1206sqft do now looking for something bigger

[jieming]

bro. nowadays govt wants everyone to speculate. even buying public housing also can kenna burn.

If you buy the $300k flat, at most it will go down to $200k+, probability of going down to $100k+ is not high. If you do a survey, majority of the owner who bought new from hdb, did not sell at a lost.

[leslie]

If you buy the $300k flat, at most it will go down to $200k+, probability of going down to $100k+ is not high. If you do a survey, majority of the owner who bought new from hdb, did not sell at a lost.

bro. those that sold for profits are those who bought during 1999-2005. 300k at ulu areas most likely will lose money during recession.

i still remember central area 4rm hdb selling at 240k in 2004 and no buyers. market was really bad then.

[jieming]

My friend is staying at one of the "ulu" areas now but the price of my flat has appreciated by 300% now
You have valid points.
But there is something to do with timing as well, which affect both public and private housing.

bro. those that sold for profits are those who bought during 1999-2005. 300k at ulu areas most likely will lose money during recession.

i still remember central area 4rm hdb selling at 240k in 2004 and no buyers. market was really bad then.

[leslie]

My friend is staying at one of the "ulu" areas now but the price of my flat has appreciated by 300% now
You have valid points.
But there is something to do with timing as well, which affect both public and private housing.

yes bro. just observe timing and thread carefully. then will be safe. hehe

[vellefire]

Bro, everyone is expecting economy crisis soon but what can we do .
Got to work harder and spent wisely within our mean.
Stay positive, and not make yourself worry about what will happen next year.
Tomorrow will be better or may be better

[toffeesthings]

yes bro. just observe timing and thread carefully. then will be safe. hehe

Bro Leslie,
Thanks for the advice shared and yes, its been a while since we chatted during the pilot watch craze. Just clearing up some excess, affordable Type A pieces.

Was contemplating purchasing a freehold mass market condo but a bit hesitant at currently still insane prices.

Taking the advice of you and other gurus here, I'll hold out a while longer before taking the plunge. Don't want to kick myself if I buy now, bubble bursts and prices drop later but can still buy if down the road, current prices prevail.
Of course, when I do take the plunge, I'll minimize borrowing from banks : )

That said, if any bro here wants to offload a three or two bedroom, freehold apartment or condo in the Hill View area for about a million or $800 psf, drop me a PM, hehe!
This might seem low but recent lucky transactions in the area have hovered around that range, just hoping that in time, more deals like this will emerge : )

[ac_wong75]

But watches and luxury items somehow stand and hold very well... even market is bad the AD such THG and Sincere still opening more boutiques... my 2 cents worth

[mobile22]

But watches and luxury items somehow stand and hold very well... even market is bad the AD such THG and Sincere still opening more boutiques... my 2 cents worth

Luxury items can be quite resilient in difficult times as the affluent and hnw are less affected by economic downturn ....

[leslie]

Bro Leslie,
Thanks for the advice shared and yes, its been a while since we chatted during the pilot watch craze. Just clearing up some excess, affordable Type A pieces.

Was contemplating purchasing a freehold mass market condo but a bit hesitant at currently still insane prices.

Taking the advice of you and other gurus here, I'll hold out a while longer before taking the plunge. Don't want to kick myself if I buy now, bubble bursts and prices drop later but can still buy if down the road, current prices prevail.
Of course, when I do take the plunge, I'll minimize borrowing from banks : )

That said, if any bro here wants to offload a three or two bedroom, freehold apartment or condo in the Hill View area for about a million or $800 psf, drop me a PM, hehe!
This might seem low but recent lucky transactions in the area have hovered around that range, just hoping that in time, more deals like this will emerge : )

bro. not happy with ur pilot watches liao? hehehe wanna sell them off?

actually if you dun need a house urgently. i would suggest waiting until at least end 2014 before taking the lead. by 2015, alot of houses will be ready and most likely interest rates would have increased by then. plus euro or some other crisis would have happned and half way through the cycle liao. i reckon that there will be a number of potential chances to get something reasonable.

[warlockSG]

My company deals within a wide range of business segments (from bakery to sulphur). We are seeing quite a significant drop in business. Everyone is getting affected (rising cost, lower demand, increase competition, etc). Most people are being extra cautious now as no one knows what's going to happen in the next few months.

With the drought in the US, expect a hike in inflation soon. So, right now, cash is King.

I was recently given a great offer to buy a new camera which I normally would not think twice of upgrading. However, took a deep breath and decline the offer. Do not want to deplete my bank account.

My top thing to get now is a new car (due to growth of family) and as it's well known the COE price is crazy (95k!!!!). Guess I have to live with my 5 year old car for a while longer. Properties prices also ever increasing. Unfortunately my pay do not follow the price increases. Even though I earn a bit more now than 3-5 years ago, somehow I feel poorer. Cannot afford so many things now that I take for granted then.

everything is super expensive now

95k for a 10 year COE is beyond crazy