Tuesday, November 03, 2009

Bubble in property market

Singapore homebuyers leave blank cheques with brokers.
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7 comments:

Anonymous said...

People here have funds idling in the bank acounts, and there are no outlets for investments other than properties and the stock markets.
Very much less people have trust
in the investment vehicles provided by local and foreign FIs.
At least there bicks and mortar to
hold in our hands as compared to
total loss of moneys when investments go bust.

November 04, 2009 1:51 PM
Anonymous said...

Is it ethical to accept blank cheques?

November 04, 2009 4:07 PM
Anonymous said...

They believe that property prices will not go down in Singapore because a lot of CPF money is involved, most life savings to say the least.

Pray hard that the bubble does not burst like in Japan a decade and a half ago. At least the Japanese do not have all their retirement funds tied to their homes. We do, and it will be totally devastating, painful and distressing.

November 04, 2009 4:13 PM
Anonymous said...

Wish them luck ! Cheers !

November 04, 2009 4:20 PM
Anonymous said...

Suppliers and housing agents are telling people to "buy now, can mortage it and pay over 30 years."

This is ridiculous. But the gahmen is happy with this idea of 'buy now, pay slowly'. The banks are happy.

So the price of property will keep going up because people are buying a controlled limited supply of property with money from willing lenders, i.e. banks that have the ability to create money in the short run.

November 04, 2009 6:09 PM
Wealth Journey said...

Indeed , the excess liquidity from other countries (like US and China) is finding its way into Singapore?

How can any resonable person think it's not a bubble when in 2006, a $1mil property can become a $2mil property in 2009.

But have your total annual pay package increased 100% during these few years?

November 04, 2009 7:45 PM
Anonymous said...

This is not the first time, nor will it be the last time such things happen.

So like they say, history repeats itself and lessons will never be learnt, even after the hard way.

November 04, 2009 9:42 PM

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