HappyHouse88

bought and sold.. my gbp .. earning 1% in 2 wks. Thanks to the us debt crisis. ... now betting on gold now... speculate to go up to 1900USD by next mth. And hopefully, MAS revised their policy on strong SGD. Then USD up , gold price up.. *HUAT* .. but mkt is seriously very volatile.. muz watch when to sell and buy.. cos' 1 hr make alot of different now.

ha ha ha.. if you cannot believe one of the FSM, how can you believe us? Thoughout chinese history, CNY has been moved from 1 time to another according to the emperor. H Before 1913, CNY actually falls on 4/3 Feb every year. This day marks the beginning of spring. Last year "li chun" was before CNY, so those kids btw li chun and CNY are actually consider as tiger and not ox. The "li chun" for 1977 is 4 Feb also.. Thus, i think your hubby just happened to one of the many babies that are caught in this window. There are a lot of writeups on lichun and zodia. Some believe that it's after 1mth 1 day.. However, for FSM, they normally take 'li chun' as a guide. http://www.hudong.com/wiki/%E7%AB%8B%E6%98%A5 立春是24节气之首，所以古代民间都是在“立春”这一天过节，相当于现代的＂春节＂，阴历正月初一称为＂元旦＂。 1913年（民国二年）7月，袁世凯拟定阴历元旦为“春节”，次年（1914年）起开始实行。自此，夏历岁首称春节，一直相沿至今。 故属相应当从立春开始计算.，确定属相也是以立春为准，而不是以正月初一为界。

any advise? I was told to buy gbp now that it's below SGD2.

Pty at prime location will hold d01,29,10,11 and Meyer / marine parade area but outskirt area will probably crash. Even you look to buy Bangkok pty during downturn , you also looking at prime area. When the crisis come , only the super rich has the $$$ and frankly , dun think they want to buy punggol , woodlands area and hdb is never in their mind.

http://sbr.com.sg/residential-property/news/47-residential-units-remain-unsold this report say...things is not looking good..

Yes.. these few days, there are many lousy econ reports. I think the time is nearing liao.. And developers knows it.Many enbloc no go.

Agreed.

You have a few issues here. 1) Unable to get loan in time for completion 2) potential loan downsize Before we start, did you take up any bridging loan with the bank? Are you "tied" to the bank already? Can the seller wait? How much is the bank willing to lend and when can they give you an answer? How much are you short? Could you get the excess cash/cpf buy roping in another "buyer" ?

So what do you call 2008-2010 ? Crash ? 2002-2007 ? boom? As long there is high employment/ low interest rate, there will not be a crash. However, it is possible that rental demand to drop and individual finding hard to pay installment + maintenance for their investment. These ppl will sell off their pty at a disc to "cut" loses. Since ppl had to pay upfront > 40% for their investmen and interest rate remain low. HDB will probably not drop because it's within the "affordable" range for most household.

hmm.. i believe the mkt is going to correct itself very soon. Given the recent data. As to what extend will the moderation.,I think it will moderate to the level where most ppl can "afford" assuming they dont earn for selling their current pty. Which some ppl believe is 5 times their annual salary. So assuming a average 5-rm flat household earns 96k per year. An affordable loan amt will be $96x5 = 480k and assume they do not have any excess cash/cpf from prev pty. They could only afford a pty ard ~$550k for a 5 rm flat. Mass mkt pte pty, i will think it will correct to median price of 700k whereby affordable loan abt is ard $120k x 5 i.e. 600k. EM , EA at good location will also hover ard this price.

hi just to share my experience. We decided to take the option to sell & wait/rent few mths back. here's the issues that we faced. But the reason for us to sell and wait is not the COV but the overall prices of pty i.e. hdb as well as private. 1) Overall pte pty prices. We see the possibilities the prices will fall ~5%. 5% of 500k pty is ard $25k. 2) Sell slowly , buy slowly. You could get a better selling price and a buying price. With time on our side, we waited 2 more wks and we managed to sell our flat for 20k more. As for buying, we saw 1 unit where the seller was first asking for 1.05mil , 1 mth back and when we asked for the best price, they wanted 1.03mil. Just yesterday, the same unit is asking only 1.02mil. Importantly thing, is not to rush in to any pty transaction. But you muz be fully aware of the mkt rate, so that you wont missed a good deal. 3) Rental expenses. You need to calculate this carefully, assume that the cpf/cash that you free up by selling your flat, earns you $10-15k a year. And if you add in the 5% fall in price. Your rental expenses may be covered totally. 4) Cash at hand and COV. If you are concern abt COV only, I assumed that you do not have much cash now. If by selling your flat you are not able to get >200k in cash. I advise you not to sell. Why? Rental a year is ~30k in cash. And renovation for your new house is ard 60k. And 20-60k cov. It really does not left you much cash by selling your flat. You need to re-consider your motivation to sell then. 5) HDB prices to fall.. hmmm if the price of new flat continue to be acceptable and supply increases. There is a possibility that prices may go down but not immediately. Maybe 2-3 yrs time. Remember that 1999 crisis, the prices of housing only become rock-bottom in 2002-4. So if you need the new address in 1-2 yrs time, you def be buying on the high side.

Aiya.. best is dun extend. anything can happen. Always be prepare to spend extra on the flat, be it extra utilities fee or conservancy fee. Buy/Sell house is suppose to happy thing. So it will be great that both side are not too "calculative" on small things. If you know you are the calculative type, then dont extend. Best is ask the seller to factor in their accommodation cost and be prepared to move out on the day of completion to avoid all kind of possible problem.

In any case, i post here is not argue abt what is right and what is wrong or to force anyone to think like me. I just want to voice my solution to the problem.

Yes, go back if they cannot afford to stay. Instead making business, paying higher and higher levy to squeeze these ppl out. Tool for what ? to moderate the price? Actually, it's not been very effective leh.

I dont see why there will be more ppl seeing the mps if MOP is lifted and prices moderate. Alot of ppl see mp because they cannot get flat in prime districts where they can make huge profits , in the disgust of wanting to live near parents . I think these 24,000 exclude also PR / Singaporean that currently not in singapore. So i feel that number may be astonishing as the profit, seriously is huge! BTW, what are the good restriction in your view? those that benefit you only? those that dun affect your current portfolio?

I think you are missing the point, not me. You shld own a hdb which primary reason is for your own stay and not for profit or as an investment. Keeping hdb affordable so that every singaporean can buy shld be ultimate objective. If by not allowing hdb to be rent out, prices will moderate. I think HDB shld do it. If you want freedom, go for pte. Go fight with Foreigner investor , rich people like yourself, and not at the expense of our younger generation. As i say, to lower the price of hdb has to be done so that CPF will not be wipe out!

If government allow hdb to be use an investment or source to generate income, then there is no way to keep in prices down. As of now, hdb still give the best rental yield , better than commercial property or other pte property. Even if you take PR out of the pic, rich local will still rake up the prices.

If property price is not deal with, it will soon snowball to bigger social issue. A immediate problem that arise from higher cost of accommodation is the productivity. Business owners are pressured to raise wages so that workers can afford their rent/mortgage. If not control, it will spiral and push business out of singapore because of high operating cost. We need to provide common ppl with affordable housing.