Moderators: alvin, learner, Dennis Ng
cellobear wrote:For locals, I believe that the main reasons people still buy is because:
- The interest rate is low.
- The job market is doing well so people are secure. This is very important for people even though we know that job security is a myth in bad times
- They are afraid that property will still go up further.
- They want to rent to provide for secondary income as they reckon that even if they do not sell, they can rent.
- After being 'encouraged' by the many property seminars out there?
I am just voicing out my own thoughts IF I were to think of buying (which I am not).
The beauty of humans is that we can convince ourselves either way ALL the time.
hg.
equilat wrote:I guess a lot of the condo buyers are buying to stay. If they are, then now is the best time to buy isn't it to lock in the low interest rates (some banks offer fixed rates for 5 years). Furthermore, you can now choose the best units without much competition as a lot of potential buyers held back becos of the cooling measures. Next, you have the pentup demand coming in from enbloc sellers and those ugraders. Caveat emptor but there is a potential upside Compare our property prices to London and Kong Kong, we are still a way way behind isn't it.
Dennis Ng wrote:equilat wrote:I guess a lot of the condo buyers are buying to stay. If they are, then now is the best time to buy isn't it to lock in the low interest rates (some banks offer fixed rates for 5 years). Furthermore, you can now choose the best units without much competition as a lot of potential buyers held back becos of the cooling measures. Next, you have the pentup demand coming in from enbloc sellers and those ugraders. Caveat emptor but there is a potential upside Compare our property prices to London and Kong Kong, we are still a way way behind isn't it.
since you have your own view and more or less decided, just go ahead to buy lor.
moneyisfreedom wrote:
I agree with your analysis. I have sold my property and will NOT buy a condo anytime soon. Even the Government is sounding the alarm...AND they are making it VERY clear. Government measures are a given...but better to slow the craze down before the external world causes a complete and sudden crash, and for even more people to suffer.
My only question is whether to go fully into cash now (with the exception of commodities). I am looking at liquidating stocks and unit trusts....have a bad feeling looking at both the numbers and the macro-economic factors. China and Greece (not to mention the US, Japan and Middle East) are all turning very bad. Any `rally' in the US Dow seems like a dead cat bounce...generally not sustainable.
My only question is....why do you advocate waiting for the STI to go below 3000 for 10 days before liquidating totally ? In 10 days, won't the value be VERY significantly wiped out ? Is this 10 day guide based on historical precedence ?
Dennis Ng wrote:[since you have your own view and more or less decided, just go ahead to buy lor.
equilat wrote:Dennis Ng wrote:[since you have your own view and more or less decided, just go ahead to buy lor.
Pls don't get me wrong. I'm just offering an alternate view as to why people are still buying because they have told me the exact reasons that I have stated above and I do understand why they are buying because if they are buying to stay, there is no issue since they need a roof above their head. What if there is no crash and the government carry on to recruit new FT who are super rich and these people keep on buying and buying. Our property prices will be at least double in 10 years time. So I just want to offer the view that what if there is no crash, do you still want to wait forever?
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