3/31/2010
Soaring demands, prices hitting new highs
These are the headlines in today's paper. The new HDB launches in Sengkang and Sembawang are greeted by soaring demands. Private properties are hitting new highs in prices. What do these news meant? Demands exceeding supply?
We have seen HDB launching BTOs after BTOs in the last couple of months. How can there be unceasing demands? Someone is bluffing right? These demands are fictitious. And the high prices must also be fictitious.
I don't believe demands for housing is so high. Not true, cannot be, they may apply but will turn down when offered the flats. These flat applicants are just fooling around. Don't take them seriously.
We have BTOs, DBSS and Exec Condominiums? Better don't build Exec Condominiums. Force these people to buy private properties to boost up their prices. Make them pay for it. They are professionals right, got a lot of money right? High pay right?
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232 comments:
1 – 200 of 232 Newer› Newest»The sad thing is that there are lots of people like me who want to apply as well, but are prevented from doing so because of HDB's archaic policies. Sigh. Looking forward to a lifetime of renting...
Sell your car, sell your jewellery,sell your shares..dump all into properties..$1000 per sq foot and very soon $2000 per sq feet. Everybody happy. Property agents are happy, legal firms are happy, banks are happy, Government happy... more taxes to collect
I also want to say the same. Property prices can only go up and cannot come down. Sell everything you have and go out and grab one. Tomorrow the price will be higher.
3 rm HDB going to fetch $1m very soon. Now am I spreading rumour or telling the truth? Or am I crystal ball gazing?
Yes, no need to work. Just make money on buying and selling properties. No need to break heads thinking about improving productivity.
Sellers happy. Buyers happy. Agents happy. Government happy. Banks happy. Everybody happy. One big happy familee. And they live happily ever after.
anon 1139
Don't worry. When the crash comes you'll be able to pick up cheap property as people who have borrowed up to their children's eyeballs will be writhing on the ground bleeding profusely (and probably without a job).
Just a mere 10 years ago property dropped so low very few believed that prices would recover, let alone hit the prices of today.
I remember people lamenting that semi d's in B Timah were around 750k and others gleefully saying that they now could afford to buy. I remember rents at the time in Orchard Rd as low as 1.5k.
So dear anon, the current asset bubble -- like all asset bubbles is unsustainable. The more the inflation and credit creation by the banks and MAS, the more bloody the correction.
Wonderful !
Wonderful !
And more
Wonderfuls
Let the prices go high high and higher ! Wait and see when will the first blood be spilled when the bubble burst. Sell to the foreigners. Demand as high price as possible. Let them be the suckers.
woohooo! Everyone go crazy and buy buy buy buy, sell your car, sell your flat, sell your kidneys, sell your children, sell your wife!
Use the proceeds from the sale of your car/flat/kidney/children/wife to pay the deposit and downpayment for a few more properties now.
Raise all the money you can to buy properties because tomorrow that $350k HDB pigeon hole is going to cost a whopping $1.5million...then $3million...then $100m... then $500million! Woohooo! your entire family bloodline will never need to work another day.
Singaporeans will be OUT OF THIS WORLD rich just like our PAP ministers.
Meanwhile I am setting up a new funeral business because business is going to be BOOMTOWN CHARLIE when the property market goes POOF after the BOOM. So all you fools out there who always crave the easy life... borrow to the hilt now so I can make good money when you FOOLS lose everything to the banks and jump from the roof gardens of the Pinnacle or the soon to open Marina Bay Sands!
Bishan executive condo going for $900k! Fantastic. All smiling now. All HDB owners will soon be millionaires. Imagine an island with 2 million millionaires! Another world first.
I like it !
No, i love it !
Up up and away !
No bluffing, no fiction; not fictitious lah, i mean.
A fraction from China and India
and there can never be enough of
SIN Properties for sales.
Singaporeans can't pay do not mean foreigners cannot afford to pay. They(foreigners) may not even need loans, mind You.
Walau, with all the fucking money locked up in the fuckingly ridiculous high priced properties, the first casualties after they cart away the corpses at the bottom of the Pinnacle @ Fuxton would be the Banks. NPL. Now that's a very very dangerous term in a Bank's balance sheet.
In my lifetime, I have seen at least 5 property boom and crash cycles and my old bones tell me that it will be raining very soon. With dead bodies that is.........
Hehe.
p/s Please avoid standing near the vicinity of Pinnacle @ Fuxton. You never know when you'll be hit by a falling projectile...
This time is different. It will never happen. We have rich foreigners buying up everything. India and China can afford to buy up half of the island each. So property prices can only go up and up.
What is gravity? Never heard of.
Hmmm, the average Singaporeans will have no gut to make profits from the inflated prices of their properties and leave SIN to live elsewhere.
However, me jus got the feeling that the Rich and Powerful will be leaving fast. Because their wealths need protections and their own personal safties are paramount. Me suspects that they know the dangers are mounting.
The peasants will be thrown off balance leaving them no time to get and be united. They will be too busy to clear up the shits thrown at them which is going to take a long long time. And meanwhile those that need to seek safeties and protections abroad can go about preparing themselves for their moves.
Oh, wat am i thinking ?
Mr. Bean,
Is it Deja Vu?
What you are saying about gravity?
I've heard that one before.
At each of the five cycles.
Man never learns. Most have shit between their ears.
A floating feeling after a bottle of wine is damn shiok, floating on air :)
But nothing better than a little drug to get that high feeling.
Ah Long will go burst because Singaporean will soon be nation of millionaires. No need to borrow money. En bloc the whole country and sell them away. No need to spend money in national defence.
This is no laughing matter. Lim Yew Hock sold Christmas Island without Singaporeans being aware of it.
It could happen again. Were Singaporeans really aware when HDB sold some of the wet markets to private owners?
anon 245
The ongoing privatisation of HDB property holdings is actually a good thing -- from an economic point of view. It is the private sector that brings life to the dreary communist-looking housing estates.
Remember folks, there is always 2 "economies" happening: the "real" economy where real gooand services are produced and exchanged, and the "financial" economy where debt is created and converted to "assets" which in turn are used to buy more assets.
Sooner or later the game will be up. You cannot use debt to bullshit yourself that you are "rich". If you could do that, then every idiot with a high spending limit on his credit card is automatically classified as "rich".
All the (so-called) "money" flowing into real estate (when other real estate markets are falling) is mostly credit (DEBT) money... not "real" money at all.
Remember when point blocks hit 1.5 mil back in the mid 1990s? And then the CLOB fiasco? And the bat-shit insane remisers making money hand over fist?
Guys, it wasn't that long ago.
This time when point blocks hit $1.5m, Singaporeans will sell out and opt out. New Zealand is not a bad place if one has the dole and not having to work. Of course there are Chiangmai, Lijiang, the northern parts of India, and not forgetting our hot favourites of Batam, Bintang and JB.
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