3/27/2010

Who is talking strange?

There is no property bubble, yet. Did anyone see the elephant inside the classroom? No, where got elephant? Property prices are hitting the roof, demands are incessant looking at the queues at property launches despite the record releases of new BTOs. Maybe it is all carefully managed and expected. Within expectation. The govt will not intervene in the property market and if it does, ‘we do it only because we want the market to work better’ said Mah Bow Tan. So no need to panic, no need to complain, the market is working better. Better for who and in what ways? The govt did not intervene when the population shot up by more than 1m people. The govt did not intervene by building more flats to meet the demand. Maybe it was managed to be that way. Or maybe they did not know that the population had grown disproportionately and no need to intervene. The govt prefers to leave it to market forces, supply and demand. The two cases of Ten Mile Junction and Tampenis were an aberration. The low demand was not due to market forces. And the developers will buy low to sell at big proft. Cannot be like dat. So when the prices are low when there is no demand, don’t release the sites. Afterall the govt has the responsibility to make sure that state land gets a good price. All perfectly sound argument. Not talking strange. And today, there is no property bubble yet. Everyone is happy, the govt is happy, the developers are happy, the speculators are happy, the home buyers are happy, the owners of all properties are happy. We have a perfect situation with everyone happy. This is how clever the property market it being managed. I am not talking strange either.

8 comments:

Anonymous said...

Mr Bean;

You should join everyone else in the enjoyment. Why not ?

Anonymous said...

Let's rejoice !

Why not ???

Matilah_Singapura said...

The bubble began at least a year ago, but if you really want to be pedantic you can trace it way back to the 1970's and 80's ;)

Anyway, there is nothing anyone can do about it, the bubble will continue until it pops. If the govt steps in and "mops up" all the printed money and credit creation from all the debt the banking system has created, prices will fall, and people who are invested will lose lots of money (whilst still owing the banks MORE than what their properties are worth).

The market will collapse, everyone will blame the govt and the idiot opposition parties with their bat-shit insane ideas of "free money towards equality" will gain traction.

Not to mention the fact that many of the high-earning thieves who work for the state are probably heavily invested and leveraged in S'pore real estate. These sub-humans will lose plenty of money too, and many might have to sell their children (no problem since they have no moral compass) into slavery.

So enjoy. There is a still lot of room to move. I want to see kopi-susu hit $3 at kopi tiams, $5 MRT fares and $10k per square foot in the CBD ala Tokyo in the 1980's.

The the collapse will be spectacular, and stingy greedy fuckers like me who prey on peoples' misfortunes can buy dirt cheap assets as the herd lies haemorrhaging from their anuses on the killing room floor.

Anonymous said...

No fear. Low net worth beans have no fear.

High net worth beans let them loose their pants. Like the US, some hospitals may need to be converted into mental institutions to cater to those who also are going to loose their minds over the crash.

It is coming!

Wally Buffet said...

COEs shooting through the roof.

HDB four freaking rooms going for S$650,000.

Market stallholders' rent going up by 30%

Uni Poly Ite fees going up by 20%

Conservancy fees going up by? (Have they worked it out yet?).

The financial Apocalypse is not far off and we'll be watching like vultures picking on the dead bodies jumping down from the Pinnacle at Duxton.

On the other hand, if there is no crash for the next 10 years and a love of bread then costs $50, we're fucked because we didn't join the herd in rushing for a bit of action when it was still not that insane.

Ah, decisions, decisions. Can't we all live peacefully and simply like the natives of Papua New Guinea?

Chua Chin Leng aka redbean said...

I think we should go with the majority, go with the flow. The majority cannot be wrong.

No need to think too hard Wally, just grab a couple of units and 10 years down the road they will double in value.

For once Matilah is happy, waiting for the kill.

Anonymous said...

Wow, just like buying dollhouses!

Chua Chin Leng aka redbean said...

Just leave it to Wally.