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on 07 Mar 08 8:01 am
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Stocks Drop Amid Credit Concerns
Thursday March 6, 5:49 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street Drops on Continuing Worries About Credit Markets, Bleak Reading on Foreclosures
NEW YORK (AP) -- Stocks tumbled Thursday as the ailing credit market and a spike in home foreclosures intensified the market's worries about a sagging economy. The Dow Jones industrials gave up 214 points.
Concerns about credit grew after Thornburg Mortgage Inc. and a Carlyle Group bond fund revealed troubles with investments backed by mortgages. The entities failed to make margin calls, which are payments to guarantee much larger debt or investments.
And the genesis of the credit concerns that erupted last year -- souring mortgage loans -- dealt investors another blow after the Mortgage Bankers Association reported that home foreclosures rose to record levels in the fourth quarter. Worries about defaults have made lenders hesitant to extend credit, preventing the credit markets from functioning normally.
Wall Street's sense that credit troubles are seeping further into areas of the financial sector once deemed safe weighed on financial stocks and the broader market.
"I think these are near-term, unfortunate events that if they had the luxury of time and capital they could probably weather but unfortunately with this leverage-based system we have, time is a very expensive luxury," Jack Ablin, chief investment officer at Harris Private Bank in Chicago, said in reference to the difficulties at Thornburg and Carlyle.
The Dow fell 214.60, or 1.75 percent, to 12,040.39 -- almost slipping below the 12,000 level, which it briefly did in January for the first time since November 2006.
Broader indexes also retreated. The Standard & Poor's 500 index fell 29.36, or 2.20 percent, to 1,304.34, and the Nasdaq composite declined 52.31, or 2.30 percent, to 2,220.50.
The Russell 2000 index of smaller companies fell 20.96, or 3.07 percent, to 662.78.
Bond prices jumped as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, sank to 3.59 percent from 3.69 percent late Wednesday.
"It's an ugly day in a chain of ugly days," said JPMorgan equities analyst Thomas J. Lee. The Dow managed a moderate gain after a volatile session Wednesday, and had fallen in the four previous sessions.
The stock market's performance going forward will rely largely on Friday's employment report. Economists on average are predicting a modest gain in February payrolls, but some anticipate a decline. According to Lee, a bad jobs number could send the stock market lower by confirming investors' fears of a recession, while a good jobs number will probably be met with some skepticism.
Investors are also fretting as they watch the dollar scrape new lows against the euro. The greenback's weakness is a big culprit behind a recent string of new highs for oil prices.
Light, sweet crude rose to a fresh record Thursday after an unexpected decline in U.S. crude supplies and a widely anticipated decision by OPEC not to increase production. Oil shot up 95 cents to settle at a record $105.47 per barrel.
Gold -- regarded as a defensive investment -- slipped Thursday, but remains only about $20 away from the psychological benchmark of $1,000 an ounce.
Bad news about the housing market further dented sentiment. The Mortgage Bankers Association said the proportion of all mortgages nationwide that fell into foreclosure jumped to a record 0.83 percent in the final quarter of 2007. The group also warned that foreclosures are likely to continue to rise as the number of homeowners behind on their mortgage payments has jumped to its highest level since 1985.
The Federal Reserve added more unwelcome housing news in reporting that Americans' debt on their homes exceeds their equity for the first time since the central bank began tracking the figures in 1945. Homeowners' percentage of equity fell to 47.9 percent in the fourth quarter.
Wall Street is worried that Americans distressed about their home values or struggling with mortgage payments will pare their spending. Investors appeared to take an upbeat report from Wal-Mart Stores Inc. as a mixed signal. While Wal-Mart reported stronger-than-expected sales for February, some investors are worried that success at the world's largest retailer reflects increased bargain-hunting by consumers.
Reports from retailers such as J.C. Penney Co. and Limited Brands Inc., the parent of the Victoria's Secret and Bath & Body Works chains, indicated consumers are paring some spending that they don't regard as essential.
Wal-Mart was the only stock among the 30 that comprise the Dow industrials to advance. The shares rose 43 cents to $49.98.
J.C. Penney fell $5.34, or 11.10 percent, to $42.77, while Limited declined 54 cents, or 3.5 percent, to $14.82.
A retrenchment among consumers is an alarming prospect for Wall Street as consumer spending accounts for more than two-thirds of U.S. economic activity.
Investors' fear of becoming ensnared in widening credit troubles weighed on the financial sector. Thornburg plunged $1.75, or 51 percent, to $1.65. Amsterdam-listed Carlyle Capital Corp. Ltd., a bond fund managed by private equity firm Carlyle Group, fell more than 50 percent after saying it received a note of default for missed margin calls.
Other financial stocks retreated. Citigroup Inc. fell to a new nine-year low before closing down 98 cents, or 4.4 percent, to $21.17. Merrill Lynch & Co. declined $3.46, or 7 percent, to $45.86, while Washington Mutual Inc. fell $1.04, or 8.1 percent, to $11.76.
Declining issues outnumbered advancers by nearly 9 to 1 on the New York Stock Exchange. Consolidated volume came to 4.18 billion shares, up from 4.12 billion on Wednesday.
Overseas, Japan's Nikkei stock average closed up 1.88 percent. Britain's FTSE 100 finished down 1.49 percent, Germany's DAX index declined 1.38 percent, and France's CAC-40 closed down 1.65 percent. |
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on 07 Mar 08 8:24 am
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| Anonymous wrote: | Stocks Drop Amid Credit Concerns
Thursday March 6, 5:49 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street Drops on Continuing Worries About Credit Markets, Bleak Reading on Foreclosures
NEW YORK (AP) -- Stocks tumbled Thursday as the ailing credit market and a spike in home foreclosures intensified the market's worries about a sagging economy. The Dow Jones industrials gave up 214 points.
Concerns about credit grew after Thornburg Mortgage Inc. and a Carlyle Group bond fund revealed troubles with investments backed by mortgages. The entities failed to make margin calls, which are payments to guarantee much larger debt or investments.
And the genesis of the credit concerns that erupted last year -- souring mortgage loans -- dealt investors another blow after the Mortgage Bankers Association reported that home foreclosures rose to record levels in the fourth quarter. Worries about defaults have made lenders hesitant to extend credit, preventing the credit markets from functioning normally.
Wall Street's sense that credit troubles are seeping further into areas of the financial sector once deemed safe weighed on financial stocks and the broader market.
"I think these are near-term, unfortunate events that if they had the luxury of time and capital they could probably weather but unfortunately with this leverage-based system we have, time is a very expensive luxury," Jack Ablin, chief investment officer at Harris Private Bank in Chicago, said in reference to the difficulties at Thornburg and Carlyle.
The Dow fell 214.60, or 1.75 percent, to 12,040.39 -- almost slipping below the 12,000 level, which it briefly did in January for the first time since November 2006.
Broader indexes also retreated. The Standard & Poor's 500 index fell 29.36, or 2.20 percent, to 1,304.34, and the Nasdaq composite declined 52.31, or 2.30 percent, to 2,220.50.
The Russell 2000 index of smaller companies fell 20.96, or 3.07 percent, to 662.78.
Bond prices jumped as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, sank to 3.59 percent from 3.69 percent late Wednesday.
"It's an ugly day in a chain of ugly days," said JPMorgan equities analyst Thomas J. Lee. The Dow managed a moderate gain after a volatile session Wednesday, and had fallen in the four previous sessions.
The stock market's performance going forward will rely largely on Friday's employment report. Economists on average are predicting a modest gain in February payrolls, but some anticipate a decline. According to Lee, a bad jobs number could send the stock market lower by confirming investors' fears of a recession, while a good jobs number will probably be met with some skepticism.
Investors are also fretting as they watch the dollar scrape new lows against the euro. The greenback's weakness is a big culprit behind a recent string of new highs for oil prices.
Light, sweet crude rose to a fresh record Thursday after an unexpected decline in U.S. crude supplies and a widely anticipated decision by OPEC not to increase production. Oil shot up 95 cents to settle at a record $105.47 per barrel.
Gold -- regarded as a defensive investment -- slipped Thursday, but remains only about $20 away from the psychological benchmark of $1,000 an ounce.
Bad news about the housing market further dented sentiment. The Mortgage Bankers Association said the proportion of all mortgages nationwide that fell into foreclosure jumped to a record 0.83 percent in the final quarter of 2007. The group also warned that foreclosures are likely to continue to rise as the number of homeowners behind on their mortgage payments has jumped to its highest level since 1985.
The Federal Reserve added more unwelcome housing news in reporting that Americans' debt on their homes exceeds their equity for the first time since the central bank began tracking the figures in 1945. Homeowners' percentage of equity fell to 47.9 percent in the fourth quarter.
Wall Street is worried that Americans distressed about their home values or struggling with mortgage payments will pare their spending. Investors appeared to take an upbeat report from Wal-Mart Stores Inc. as a mixed signal. While Wal-Mart reported stronger-than-expected sales for February, some investors are worried that success at the world's largest retailer reflects increased bargain-hunting by consumers.
Reports from retailers such as J.C. Penney Co. and Limited Brands Inc., the parent of the Victoria's Secret and Bath & Body Works chains, indicated consumers are paring some spending that they don't regard as essential.
Wal-Mart was the only stock among the 30 that comprise the Dow industrials to advance. The shares rose 43 cents to $49.98.
J.C. Penney fell $5.34, or 11.10 percent, to $42.77, while Limited declined 54 cents, or 3.5 percent, to $14.82.
A retrenchment among consumers is an alarming prospect for Wall Street as consumer spending accounts for more than two-thirds of U.S. economic activity.
Investors' fear of becoming ensnared in widening credit troubles weighed on the financial sector. Thornburg plunged $1.75, or 51 percent, to $1.65. Amsterdam-listed Carlyle Capital Corp. Ltd., a bond fund managed by private equity firm Carlyle Group, fell more than 50 percent after saying it received a note of default for missed margin calls.
Other financial stocks retreated. Citigroup Inc. fell to a new nine-year low before closing down 98 cents, or 4.4 percent, to $21.17. Merrill Lynch & Co. declined $3.46, or 7 percent, to $45.86, while Washington Mutual Inc. fell $1.04, or 8.1 percent, to $11.76.
Declining issues outnumbered advancers by nearly 9 to 1 on the New York Stock Exchange. Consolidated volume came to 4.18 billion shares, up from 4.12 billion on Wednesday.
Overseas, Japan's Nikkei stock average closed up 1.88 percent. Britain's FTSE 100 finished down 1.49 percent, Germany's DAX index declined 1.38 percent, and France's CAC-40 closed down 1.65 percent. |
another one copy and paste or the simply the same person?  |
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Guest
on 07 Mar 08 9:44 am
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Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.
Singapore property market is doomed to fall/decline this year and next year. The main reasons are as follows:
(a) There are still a significant number of speculators (estimated at 30%) still holding to their existing properties with the hope of making quick bucks before TOP. Unfortunately, there will be 30-40 condo developments numbering up to 20,000 units which will go TOP this year or next year. Its real unfortunate that in 2008-2009, the global economy will not improve. There will be over-supply on top of the existing sales that we see on Classified Ads every Saturday...We shall also see pages and pages of auction sales or files for bankruptcies. As such, some desperate speculators will have no choice but sell their properties at the prices which they have bought in 2006/2007 to escape from bank actions. Banks will be more stricter on extending loans and this will make life more difficult for speculators.
(b) Rentals at present moment are still steady but unfortunately getting slower and slower in uptake rates. With more and more units coming on-stream in 2008/2009, tenants will be spoilt for choice. In addition, the bleak economic prospects in US and the global economy might mean a cutdown in factory productions which ultimately will increase unemployment. We will see lesser and lesser tenants in time to come but greater and greater number of landlords willing to bring down rents.
(c) The property price in Singapore cannot be supported by the local population. This is because in 2007, property prices increase by 40% or more, mainly due to the rampant acts of speculators or enbloc sellers in the market and not by genuine homeowners. In contrast, average salary increases just an average of 5-10%. This is not consistent. Corrections are bound to happen anytime soon.
(d) Now, it seems that speculators have gone with the end of deferred payment so as the number of enbloc sellers who probably have already relocated to suburban areas. With these 2 group of buyers gone, the only ones left are the local and foreign buyers. Unfortunately, both groups of buyers are extremely cautious now with the pessimistic economic outlook. These buyers have got burnt from stock investments as well as got stuck with existing properties.
(e) Singapore is in big trouble now. We can see this with the 'aggressive activities by our ministers to tap the Middle East market and investment...hoping to get more investors from these countries to come to Singapore.'. Unfortunately, this is not going to happen anytime soon. The Middle East consumers/investors are more attuned to Muslim markets like Malaysia, Indonesia and Turkey and not Singapore. We can witness the thousands of Middle East tourists that come to Malaysia compared to a mere hundreds that come here. And bear in mind that the Middle East millionaires are more proned to dumping their properties when they see no real values in retaining them due to their huge pockets.
(f) Its true that the markets of the future belong to those rich in commodities like Middle East countries and Malaysia which are rich in oil and natural resources. Unfortunately, Singapore does not have any of these qualities. Singapore is in many ways like a miniature US. We depend a lot on the existing local talents as well as investments from overseas. Our economy is export-based with the US being our biggest customer. We will be the worst-hit when the credit crisis reach our homeland anytime soon unlike the Middle East countries which have high-priced oil to back them up. Even Middle East will be affected soon when their oil price drops when demand goes down with the recession in the long term. No one is immuned to the US economy.
(g) Property transactions in Singapore is probably the lowest in a decade in February this year. I hardly see any transactions going on in some areas of Singapore. This is a very bad sign. When there are no buyers but many sellers...and many many more sellers by the end of 2008...and economy gets worst in end-2008, and we will see even fewer buyers..unless there is a major price correction, many sellers will get burnt and lose everything including their 20% deposit to buy the property. Banks will lower their property valuations when economy gets bad and sellers will be hard pressed to compete for buyers' money.
(h) Even the IR, F1 Grand Prix, Youth Olympics etc will not do much to hype up the property market at a time of economic downturn. This is because F1 Grandprix is only held less than a week in a year so as the Youth Olympics. IR/Casinos are found not only in Singapore but also in Malaysia, Korea and US. When times are bad, no one will be gambling away their money at the casinos. In year 1996, Singapore property market experienced its most robust year, even better than 2007, where buyers pay people to queue up for units. At that time, our government even plans to have a bullet train to link to Malaysia, and are talking up plans to expand the Marina Bay area with their huge land reclaimation efforts. Government also has great plans for Tanjong Rhu area with a Marina and Marine Village planned. But the 1997 currency crisis came and every plans that we had go down buried in the grounds for 7 or more years....What makes you think that this wont happen again this year round ???
(i) Have you ever considered why Government corporations like Temasek and GIC are heavily investing in US/European banks to keep them afloat from the sub-prime crisis ?? It is because Singapore has so much stake to lose if these crisis goes uncontrolled....from the pattern, it seems that the damage is already done and cannot be undone despite the massive injections of funds from GICs and Sovereign Funds. The US economy is in debt to the tune of US$3 trillion or more....How to rectify these problems ???
And so, my friends, if you still think that the already overpriced property prices in Singapore will go up further, you are indeed dreaming. Wake up to reality ! |
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Guest
on 07 Mar 08 10:26 am
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| Anonymous wrote: | Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.
Singapore property market is doomed to fall/decline this year and next year. The main reasons are as follows:
(a) There are still a significant number of speculators (estimated at 30%) still holding to their existing properties with the hope of making quick bucks before TOP. Unfortunately, there will be 30-40 condo developments numbering up to 20,000 units which will go TOP this year or next year. Its real unfortunate that in 2008-2009, the global economy will not improve. There will be over-supply on top of the existing sales that we see on Classified Ads every Saturday...We shall also see pages and pages of auction sales or files for bankruptcies. As such, some desperate speculators will have no choice but sell their properties at the prices which they have bought in 2006/2007 to escape from bank actions. Banks will be more stricter on extending loans and this will make life more difficult for speculators.
(b) Rentals at present moment are still steady but unfortunately getting slower and slower in uptake rates. With more and more units coming on-stream in 2008/2009, tenants will be spoilt for choice. In addition, the bleak economic prospects in US and the global economy might mean a cutdown in factory productions which ultimately will increase unemployment. We will see lesser and lesser tenants in time to come but greater and greater number of landlords willing to bring down rents.
(c) The property price in Singapore cannot be supported by the local population. This is because in 2007, property prices increase by 40% or more, mainly due to the rampant acts of speculators or enbloc sellers in the market and not by genuine homeowners. In contrast, average salary increases just an average of 5-10%. This is not consistent. Corrections are bound to happen anytime soon.
(d) Now, it seems that speculators have gone with the end of deferred payment so as the number of enbloc sellers who probably have already relocated to suburban areas. With these 2 group of buyers gone, the only ones left are the local and foreign buyers. Unfortunately, both groups of buyers are extremely cautious now with the pessimistic economic outlook. These buyers have got burnt from stock investments as well as got stuck with existing properties.
(e) Singapore is in big trouble now. We can see this with the 'aggressive activities by our ministers to tap the Middle East market and investment...hoping to get more investors from these countries to come to Singapore.'. Unfortunately, this is not going to happen anytime soon. The Middle East consumers/investors are more attuned to Muslim markets like Malaysia, Indonesia and Turkey and not Singapore. We can witness the thousands of Middle East tourists that come to Malaysia compared to a mere hundreds that come here. And bear in mind that the Middle East millionaires are more proned to dumping their properties when they see no real values in retaining them due to their huge pockets.
(f) Its true that the markets of the future belong to those rich in commodities like Middle East countries and Malaysia which are rich in oil and natural resources. Unfortunately, Singapore does not have any of these qualities. Singapore is in many ways like a miniature US. We depend a lot on the existing local talents as well as investments from overseas. Our economy is export-based with the US being our biggest customer. We will be the worst-hit when the credit crisis reach our homeland anytime soon unlike the Middle East countries which have high-priced oil to back them up. Even Middle East will be affected soon when their oil price drops when demand goes down with the recession in the long term. No one is immuned to the US economy.
(g) Property transactions in Singapore is probably the lowest in a decade in February this year. I hardly see any transactions going on in some areas of Singapore. This is a very bad sign. When there are no buyers but many sellers...and many many more sellers by the end of 2008...and economy gets worst in end-2008, and we will see even fewer buyers..unless there is a major price correction, many sellers will get burnt and lose everything including their 20% deposit to buy the property. Banks will lower their property valuations when economy gets bad and sellers will be hard pressed to compete for buyers' money.
(h) Even the IR, F1 Grand Prix, Youth Olympics etc will not do much to hype up the property market at a time of economic downturn. This is because F1 Grandprix is only held less than a week in a year so as the Youth Olympics. IR/Casinos are found not only in Singapore but also in Malaysia, Korea and US. When times are bad, no one will be gambling away their money at the casinos. In year 1996, Singapore property market experienced its most robust year, even better than 2007, where buyers pay people to queue up for units. At that time, our government even plans to have a bullet train to link to Malaysia, and are talking up plans to expand the Marina Bay area with their huge land reclaimation efforts. Government also has great plans for Tanjong Rhu area with a Marina and Marine Village planned. But the 1997 currency crisis came and every plans that we had go down buried in the grounds for 7 or more years....What makes you think that this wont happen again this year round ???
(i) Have you ever considered why Government corporations like Temasek and GIC are heavily investing in US/European banks to keep them afloat from the sub-prime crisis ?? It is because Singapore has so much stake to lose if these crisis goes uncontrolled....from the pattern, it seems that the damage is already done and cannot be undone despite the massive injections of funds from GICs and Sovereign Funds. The US economy is in debt to the tune of US$3 trillion or more....How to rectify these problems ???
And so, my friends, if you still think that the already overpriced property prices in Singapore will go up further, you are indeed dreaming. Wake up to reality ! |
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Guest
on 07 Mar 08 10:30 am
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| Anonymous wrote: | Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.
Singapore property market is doomed to fall/decline this year and next year. The main reasons are as follows:
(a) There are still a significant number of speculators (estimated at 30%) still holding to their existing properties with the hope of making quick bucks before TOP. Unfortunately, there will be 30-40 condo developments numbering up to 20,000 units which will go TOP this year or next year. Its real unfortunate that in 2008-2009, the global economy will not improve. There will be over-supply on top of the existing sales that we see on Classified Ads every Saturday...We shall also see pages and pages of auction sales or files for bankruptcies. As such, some desperate speculators will have no choice but sell their properties at the prices which they have bought in 2006/2007 to escape from bank actions. Banks will be more stricter on extending loans and this will make life more difficult for speculators.
(b) Rentals at present moment are still steady but unfortunately getting slower and slower in uptake rates. With more and more units coming on-stream in 2008/2009, tenants will be spoilt for choice. In addition, the bleak economic prospects in US and the global economy might mean a cutdown in factory productions which ultimately will increase unemployment. We will see lesser and lesser tenants in time to come but greater and greater number of landlords willing to bring down rents.
(c) The property price in Singapore cannot be supported by the local population. This is because in 2007, property prices increase by 40% or more, mainly due to the rampant acts of speculators or enbloc sellers in the market and not by genuine homeowners. In contrast, average salary increases just an average of 5-10%. This is not consistent. Corrections are bound to happen anytime soon.
(d) Now, it seems that speculators have gone with the end of deferred payment so as the number of enbloc sellers who probably have already relocated to suburban areas. With these 2 group of buyers gone, the only ones left are the local and foreign buyers. Unfortunately, both groups of buyers are extremely cautious now with the pessimistic economic outlook. These buyers have got burnt from stock investments as well as got stuck with existing properties.
(e) Singapore is in big trouble now. We can see this with the 'aggressive activities by our ministers to tap the Middle East market and investment...hoping to get more investors from these countries to come to Singapore.'. Unfortunately, this is not going to happen anytime soon. The Middle East consumers/investors are more attuned to Muslim markets like Malaysia, Indonesia and Turkey and not Singapore. We can witness the thousands of Middle East tourists that come to Malaysia compared to a mere hundreds that come here. And bear in mind that the Middle East millionaires are more proned to dumping their properties when they see no real values in retaining them due to their huge pockets.
(f) Its true that the markets of the future belong to those rich in commodities like Middle East countries and Malaysia which are rich in oil and natural resources. Unfortunately, Singapore does not have any of these qualities. Singapore is in many ways like a miniature US. We depend a lot on the existing local talents as well as investments from overseas. Our economy is export-based with the US being our biggest customer. We will be the worst-hit when the credit crisis reach our homeland anytime soon unlike the Middle East countries which have high-priced oil to back them up. Even Middle East will be affected soon when their oil price drops when demand goes down with the recession in the long term. No one is immuned to the US economy.
(g) Property transactions in Singapore is probably the lowest in a decade in February this year. I hardly see any transactions going on in some areas of Singapore. This is a very bad sign. When there are no buyers but many sellers...and many many more sellers by the end of 2008...and economy gets worst in end-2008, and we will see even fewer buyers..unless there is a major price correction, many sellers will get burnt and lose everything including their 20% deposit to buy the property. Banks will lower their property valuations when economy gets bad and sellers will be hard pressed to compete for buyers' money.
(h) Even the IR, F1 Grand Prix, Youth Olympics etc will not do much to hype up the property market at a time of economic downturn. This is because F1 Grandprix is only held less than a week in a year so as the Youth Olympics. IR/Casinos are found not only in Singapore but also in Malaysia, Korea and US. When times are bad, no one will be gambling away their money at the casinos. In year 1996, Singapore property market experienced its most robust year, even better than 2007, where buyers pay people to queue up for units. At that time, our government even plans to have a bullet train to link to Malaysia, and are talking up plans to expand the Marina Bay area with their huge land reclaimation efforts. Government also has great plans for Tanjong Rhu area with a Marina and Marine Village planned. But the 1997 currency crisis came and every plans that we had go down buried in the grounds for 7 or more years....What makes you think that this wont happen again this year round ???
(i) Have you ever considered why Government corporations like Temasek and GIC are heavily investing in US/European banks to keep them afloat from the sub-prime crisis ?? It is because Singapore has so much stake to lose if these crisis goes uncontrolled....from the pattern, it seems that the damage is already done and cannot be undone despite the massive injections of funds from GICs and Sovereign Funds. The US economy is in debt to the tune of US$3 trillion or more....How to rectify these problems ???
And so, my friends, if you still think that the already overpriced property prices in Singapore will go up further, you are indeed dreaming. Wake up to reality ! |
OMG!!!!
quick lets all listen to him ~~Singapore is in trouble
Hurry pack up your bag now and start to flee to batam to stay there forever!!!
Hurry ask your kids not to go schools to anymore
Lets all leave now.........Lets listen to this Joker!!! |
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Guest
on 07 Mar 08 10:49 am
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| Anonymous wrote: | Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.
Singapore property market is doomed to fall/decline this year and next year. The main reasons are as follows:
(a) There are still a significant number of speculators (estimated at 30%) still holding to their existing properties with the hope of making quick bucks before TOP. Unfortunately, there will be 30-40 condo developments numbering up to 20,000 units which will go TOP this year or next year. Its real unfortunate that in 2008-2009, the global economy will not improve. There will be over-supply on top of the existing sales that we see on Classified Ads every Saturday...We shall also see pages and pages of auction sales or files for bankruptcies. As such, some desperate speculators will have no choice but sell their properties at the prices which they have bought in 2006/2007 to escape from bank actions. Banks will be more stricter on extending loans and this will make life more difficult for speculators.
(b) Rentals at present moment are still steady but unfortunately getting slower and slower in uptake rates. With more and more units coming on-stream in 2008/2009, tenants will be spoilt for choice. In addition, the bleak economic prospects in US and the global economy might mean a cutdown in factory productions which ultimately will increase unemployment. We will see lesser and lesser tenants in time to come but greater and greater number of landlords willing to bring down rents.
(c) The property price in Singapore cannot be supported by the local population. This is because in 2007, property prices increase by 40% or more, mainly due to the rampant acts of speculators or enbloc sellers in the market and not by genuine homeowners. In contrast, average salary increases just an average of 5-10%. This is not consistent. Corrections are bound to happen anytime soon.
(d) Now, it seems that speculators have gone with the end of deferred payment so as the number of enbloc sellers who probably have already relocated to suburban areas. With these 2 group of buyers gone, the only ones left are the local and foreign buyers. Unfortunately, both groups of buyers are extremely cautious now with the pessimistic economic outlook. These buyers have got burnt from stock investments as well as got stuck with existing properties.
(e) Singapore is in big trouble now. We can see this with the 'aggressive activities by our ministers to tap the Middle East market and investment...hoping to get more investors from these countries to come to Singapore.'. Unfortunately, this is not going to happen anytime soon. The Middle East consumers/investors are more attuned to Muslim markets like Malaysia, Indonesia and Turkey and not Singapore. We can witness the thousands of Middle East tourists that come to Malaysia compared to a mere hundreds that come here. And bear in mind that the Middle East millionaires are more proned to dumping their properties when they see no real values in retaining them due to their huge pockets.
(f) Its true that the markets of the future belong to those rich in commodities like Middle East countries and Malaysia which are rich in oil and natural resources. Unfortunately, Singapore does not have any of these qualities. Singapore is in many ways like a miniature US. We depend a lot on the existing local talents as well as investments from overseas. Our economy is export-based with the US being our biggest customer. We will be the worst-hit when the credit crisis reach our homeland anytime soon unlike the Middle East countries which have high-priced oil to back them up. Even Middle East will be affected soon when their oil price drops when demand goes down with the recession in the long term. No one is immuned to the US economy.
(g) Property transactions in Singapore is probably the lowest in a decade in February this year. I hardly see any transactions going on in some areas of Singapore. This is a very bad sign. When there are no buyers but many sellers...and many many more sellers by the end of 2008...and economy gets worst in end-2008, and we will see even fewer buyers..unless there is a major price correction, many sellers will get burnt and lose everything including their 20% deposit to buy the property. Banks will lower their property valuations when economy gets bad and sellers will be hard pressed to compete for buyers' money.
(h) Even the IR, F1 Grand Prix, Youth Olympics etc will not do much to hype up the property market at a time of economic downturn. This is because F1 Grandprix is only held less than a week in a year so as the Youth Olympics. IR/Casinos are found not only in Singapore but also in Malaysia, Korea and US. When times are bad, no one will be gambling away their money at the casinos. In year 1996, Singapore property market experienced its most robust year, even better than 2007, where buyers pay people to queue up for units. At that time, our government even plans to have a bullet train to link to Malaysia, and are talking up plans to expand the Marina Bay area with their huge land reclaimation efforts. Government also has great plans for Tanjong Rhu area with a Marina and Marine Village planned. But the 1997 currency crisis came and every plans that we had go down buried in the grounds for 7 or more years....What makes you think that this wont happen again this year round ???
(i) Have you ever considered why Government corporations like Temasek and GIC are heavily investing in US/European banks to keep them afloat from the sub-prime crisis ?? It is because Singapore has so much stake to lose if these crisis goes uncontrolled....from the pattern, it seems that the damage is already done and cannot be undone despite the massive injections of funds from GICs and Sovereign Funds. The US economy is in debt to the tune of US$3 trillion or more....How to rectify these problems ???
And so, my friends, if you still think that the already overpriced property prices in Singapore will go up further, you are indeed dreaming. Wake up to reality ! |
I am somehow amazed that US only experienced 50% increase in property price from year 2000-2006 and yet there are now in deep shit.
Whereas, Singapore experienced 40% or more increase in property prices during one year alone i.e. in 2007. I am ever more confident now that Singapore property price will not drop but will crash with a bad landing shortly. Cause the increase is beyond logic. Any decent investor with a decent mind will not invest at such prices. |
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Guest
on 07 Mar 08 10:51 am
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Oh dear ! Looking at the way the US economy is going, I am extremely worried for Singapore. I am wondering what will happen to the office spaces that have been booked by Merrill Lynch and Goldman Sachs as well as many other large US financial institutions at the new and upcoming Marina Bay area..What if they decide to cancel the lease ??
Seems like Singapore fate is tightly knitted to US fate. Like it or not, we have no where to run. |
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Guest
on 07 Mar 08 10:54 am
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| Anonymous wrote: | Oh dear ! Looking at the way the US economy is going, I am extremely worried for Singapore. I am wondering what will happen to the office spaces that have been booked by Merrill Lynch and Goldman Sachs as well as many other large US financial institutions at the new and upcoming Marina Bay area..What if they decide to cancel the lease ??
Seems like Singapore fate is tightly knitted to US fate. Like it or not, we have no where to run. |
Why you worry about them
who are u to them?
i think you should be worry whether can become rich in
the first place? |
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Guest
on 07 Mar 08 10:56 am
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| Anonymous wrote: | Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.
Singapore property market is doomed to fall/decline this year and next year. The main reasons are as follows:
(a) There are still a significant number of speculators (estimated at 30%) still holding to their existing properties with the hope of making quick bucks before TOP. Unfortunately, there will be 30-40 condo developments numbering up to 20,000 units which will go TOP this year or next year. Its real unfortunate that in 2008-2009, the global economy will not improve. There will be over-supply on top of the existing sales that we see on Classified Ads every Saturday...We shall also see pages and pages of auction sales or files for bankruptcies. As such, some desperate speculators will have no choice but sell their properties at the prices which they have bought in 2006/2007 to escape from bank actions. Banks will be more stricter on extending loans and this will make life more difficult for speculators.
(b) Rentals at present moment are still steady but unfortunately getting slower and slower in uptake rates. With more and more units coming on-stream in 2008/2009, tenants will be spoilt for choice. In addition, the bleak economic prospects in US and the global economy might mean a cutdown in factory productions which ultimately will increase unemployment. We will see lesser and lesser tenants in time to come but greater and greater number of landlords willing to bring down rents.
(c) The property price in Singapore cannot be supported by the local population. This is because in 2007, property prices increase by 40% or more, mainly due to the rampant acts of speculators or enbloc sellers in the market and not by genuine homeowners. In contrast, average salary increases just an average of 5-10%. This is not consistent. Corrections are bound to happen anytime soon.
(d) Now, it seems that speculators have gone with the end of deferred payment so as the number of enbloc sellers who probably have already relocated to suburban areas. With these 2 group of buyers gone, the only ones left are the local and foreign buyers. Unfortunately, both groups of buyers are extremely cautious now with the pessimistic economic outlook. These buyers have got burnt from stock investments as well as got stuck with existing properties.
(e) Singapore is in big trouble now. We can see this with the 'aggressive activities by our ministers to tap the Middle East market and investment...hoping to get more investors from these countries to come to Singapore.'. Unfortunately, this is not going to happen anytime soon. The Middle East consumers/investors are more attuned to Muslim markets like Malaysia, Indonesia and Turkey and not Singapore. We can witness the thousands of Middle East tourists that come to Malaysia compared to a mere hundreds that come here. And bear in mind that the Middle East millionaires are more proned to dumping their properties when they see no real values in retaining them due to their huge pockets.
(f) Its true that the markets of the future belong to those rich in commodities like Middle East countries and Malaysia which are rich in oil and natural resources. Unfortunately, Singapore does not have any of these qualities. Singapore is in many ways like a miniature US. We depend a lot on the existing local talents as well as investments from overseas. Our economy is export-based with the US being our biggest customer. We will be the worst-hit when the credit crisis reach our homeland anytime soon unlike the Middle East countries which have high-priced oil to back them up. Even Middle East will be affected soon when their oil price drops when demand goes down with the recession in the long term. No one is immuned to the US economy.
(g) Property transactions in Singapore is probably the lowest in a decade in February this year. I hardly see any transactions going on in some areas of Singapore. This is a very bad sign. When there are no buyers but many sellers...and many many more sellers by the end of 2008...and economy gets worst in end-2008, and we will see even fewer buyers..unless there is a major price correction, many sellers will get burnt and lose everything including their 20% deposit to buy the property. Banks will lower their property valuations when economy gets bad and sellers will be hard pressed to compete for buyers' money.
(h) Even the IR, F1 Grand Prix, Youth Olympics etc will not do much to hype up the property market at a time of economic downturn. This is because F1 Grandprix is only held less than a week in a year so as the Youth Olympics. IR/Casinos are found not only in Singapore but also in Malaysia, Korea and US. When times are bad, no one will be gambling away their money at the casinos. In year 1996, Singapore property market experienced its most robust year, even better than 2007, where buyers pay people to queue up for units. At that time, our government even plans to have a bullet train to link to Malaysia, and are talking up plans to expand the Marina Bay area with their huge land reclaimation efforts. Government also has great plans for Tanjong Rhu area with a Marina and Marine Village planned. But the 1997 currency crisis came and every plans that we had go down buried in the grounds for 7 or more years....What makes you think that this wont happen again this year round ???
(i) Have you ever considered why Government corporations like Temasek and GIC are heavily investing in US/European banks to keep them afloat from the sub-prime crisis ?? It is because Singapore has so much stake to lose if these crisis goes uncontrolled....from the pattern, it seems that the damage is already done and cannot be undone despite the massive injections of funds from GICs and Sovereign Funds. The US economy is in debt to the tune of US$3 trillion or more....How to rectify these problems ???
And so, my friends, if you still think that the already overpriced property prices in Singapore will go up further, you are indeed dreaming. Wake up to reality ! |
Bravo ...!!! Very Informative indeed... |
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Guest
on 07 Mar 08 11:35 am
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It is so ashamed to see the ppl here are not confident in Singapore investment at all........
I suggest u ppl should migrate to somewhere else, no point staying
in your own country if you dun even believe in its growth .... |
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Guest
on 07 Mar 08 11:40 am
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Agree , if you look at HK property market , It is picking up at healthy rate..
HK ppl are different from this bunch of ppl in Singapore
Simply a bit fall , complain want to die liao , everything also depend on
Govt..... |
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Guest
on 07 Mar 08 11:55 am
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| Anonymous wrote: | Published March 6, 2008 BT
Jim Rogers is downbeat on investment banks
Also says he's not buying S'pore property for now for several reasons
By GENEVIEVE CUA
Email this article
Print article
Feedback
(SINGAPORE) Commodities bull Jim Rogers says he is taking long positions on commodities and going short on investment banks, which are likely to lose more money.
Mr Rogers: Thinks the bull market in commodities is probably about one-third of its way through the cycle
'It grieves me to see what Singapore is doing,' he said, referring to the investments that the Government of Singapore Investment Corp (GIC) and Temasek Holdings have made in banks.
GIC and Temasek have made significant investments in Citigroup, Merrill Lynch and UBS.
'(They) are going to lose money,' he said. Banks have been rocked by losses arising from exposure to sub-prime debt and some have seen their share prices go down - even though the shareholders may be sitting only on paper losses.
Mr Rogers was speaking to the press yesterday at a briefing on the impending launch of zero strike participation certificates (zero certs) linked to enhanced Rogers International Commodities Index (RICI) and related sector indexes.
Miles Ashton, ABN Amro head of sales and public distribution (Asia) for private investor products, said a listing date for the cert is yet to be finalised.
The bank has so far issued US$1-2 billion worth of products linked to RICI. The RICI Enhanced Index is an optimised version of RICI, and produced in partnership with Mr Rogers. So far, some US$250 million worth of products have been issued linked to the RICI Enhanced index. 'There is considerable interest,' he said.
The enhanced version seeks to overcome the underperformance that has been seen in commodities indexes in the last few months. Large inflows of capital into the indexes have caused a 'distortion' in the prices of one-month futures contracts, said Mr Ashton. Most indexes automatically invest in one- month futures contracts. The enhanced index seeks to vary the roll schedule, taking into consideration seasonality, liquidity and other factors.
So far, based on backtesting, the enhanced RICI would have generated a cumulative return of 519 per cent between 1998 and October 2007, had it existed since 1998.
It would have outperformed the RICI total return index's 411 per cent return, and the DJAIG index's 234 per cent.
Mr Rogers said the bull market in commodities is probably about one-third of its way through the cycle - which, based on history, could last between 15 and 23 years. He is particularly positive on agriculture.
'Inventory of food is at the lowest it has been for 40-50 years; we may face mass starvation. The world is in a precarious position. Commodities prices will go higher, no matter what the US dollar does,' he said.
Mr Rogers, who has moved to Singapore with his family, said he is not buying Singapore property for now for a number of reasons. 'I expect there to be a slowdown, if not a decline; it is happening already.'
Slower growth, for one, may cause a drop in the number of foreigners here, which could dampen home prices, he said |
If a billionaire like Jim Rogers can actually said that he prefers to wait rather than buy property now in Singapore, what about people like us who are not even close to being multi-millionaires ??
What Jim Rogers said really make me feel that its best to wait and enjoy lower prices later. Price is definitely going to drop. If not government will intervene if property market comes to a stall. In any way, we are in a win-win situation as of now.
Speculators I think are peeing in their pants now |
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Guest
on 07 Mar 08 7:38 pm
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how come you always like
to quote peeing in the pants one?
Why ?
It is because u having difficulty holding your urine?
and u often end up peeing into your own pants? |
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Guest
on 07 Mar 08 7:40 pm
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| Anonymous wrote: | | Anonymous wrote: | Published March 6, 2008 BT
Jim Rogers is downbeat on investment banks
Also says he's not buying S'pore property for now for several reasons
By GENEVIEVE CUA
Email this article
Print article
Feedback
(SINGAPORE) Commodities bull Jim Rogers says he is taking long positions on commodities and going short on investment banks, which are likely to lose more money.
Mr Rogers: Thinks the bull market in commodities is probably about one-third of its way through the cycle
'It grieves me to see what Singapore is doing,' he said, referring to the investments that the Government of Singapore Investment Corp (GIC) and Temasek Holdings have made in banks.
GIC and Temasek have made significant investments in Citigroup, Merrill Lynch and UBS.
'(They) are going to lose money,' he said. Banks have been rocked by losses arising from exposure to sub-prime debt and some have seen their share prices go down - even though the shareholders may be sitting only on paper losses.
Mr Rogers was speaking to the press yesterday at a briefing on the impending launch of zero strike participation certificates (zero certs) linked to enhanced Rogers International Commodities Index (RICI) and related sector indexes.
Miles Ashton, ABN Amro head of sales and public distribution (Asia) for private investor products, said a listing date for the cert is yet to be finalised.
The bank has so far issued US$1-2 billion worth of products linked to RICI. The RICI Enhanced Index is an optimised version of RICI, and produced in partnership with Mr Rogers. So far, some US$250 million worth of products have been issued linked to the RICI Enhanced index. 'There is considerable interest,' he said.
The enhanced version seeks to overcome the underperformance that has been seen in commodities indexes in the last few months. Large inflows of capital into the indexes have caused a 'distortion' in the prices of one-month futures contracts, said Mr Ashton. Most indexes automatically invest in one- month futures contracts. The enhanced index seeks to vary the roll schedule, taking into consideration seasonality, liquidity and other factors.
So far, based on backtesting, the enhanced RICI would have generated a cumulative return of 519 per cent between 1998 and October 2007, had it existed since 1998.
It would have outperformed the RICI total return index's 411 per cent return, and the DJAIG index's 234 per cent.
Mr Rogers said the bull market in commodities is probably about one-third of its way through the cycle - which, based on history, could last between 15 and 23 years. He is particularly positive on agriculture.
'Inventory of food is at the lowest it has been for 40-50 years; we may face mass starvation. The world is in a precarious position. Commodities prices will go higher, no matter what the US dollar does,' he said.
Mr Rogers, who has moved to Singapore with his family, said he is not buying Singapore property for now for a number of reasons. 'I expect there to be a slowdown, if not a decline; it is happening already.'
Slower growth, for one, may cause a drop in the number of foreigners here, which could dampen home prices, he said |
If a billionaire like Jim Rogers can actually said that he prefers to wait rather than buy property now in Singapore, what about people like us who are not even close to being multi-millionaires ??
What Jim Rogers said really make me feel that its best to wait and enjoy lower prices later. Price is definitely going to drop. If not government will intervene if property market comes to a stall. In any way, we are in a win-win situation as of now.
Speculators I think are peeing in their pants now |
Followers dun want Diva as their God now
They have make Jim Rogers as their God now
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Guest
on 07 Mar 08 7:54 pm
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The fact is the market is overpriced.
Only a fool will buy an overpriced market.
A fool & his money is soon parted. |
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Guest
on 07 Mar 08 7:58 pm
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| Anonymous wrote: | Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.
Singapore property market is doomed to fall/decline this year and next year. The main reasons are as follows:
(a) There are still a significant number of speculators (estimated at 30%) still holding to their existing properties with the hope of making quick bucks before TOP. Unfortunately, there will be 30-40 condo developments numbering up to 20,000 units which will go TOP this year or next year. Its real unfortunate that in 2008-2009, the global economy will not improve. There will be over-supply on top of the existing sales that we see on Classified Ads every Saturday...We shall also see pages and pages of auction sales or files for bankruptcies. As such, some desperate speculators will have no choice but sell their properties at the prices which they have bought in 2006/2007 to escape from bank actions. Banks will be more stricter on extending loans and this will make life more difficult for speculators.
(b) Rentals at present moment are still steady but unfortunately getting slower and slower in uptake rates. With more and more units coming on-stream in 2008/2009, tenants will be spoilt for choice. In addition, the bleak economic prospects in US and the global economy might mean a cutdown in factory productions which ultimately will increase unemployment. We will see lesser and lesser tenants in time to come but greater and greater number of landlords willing to bring down rents.
(c) The property price in Singapore cannot be supported by the local population. This is because in 2007, property prices increase by 40% or more, mainly due to the rampant acts of speculators or enbloc sellers in the market and not by genuine homeowners. In contrast, average salary increases just an average of 5-10%. This is not consistent. Corrections are bound to happen anytime soon.
(d) Now, it seems that speculators have gone with the end of deferred payment so as the number of enbloc sellers who probably have already relocated to suburban areas. With these 2 group of buyers gone, the only ones left are the local and foreign buyers. Unfortunately, both groups of buyers are extremely cautious now with the pessimistic economic outlook. These buyers have got burnt from stock investments as well as got stuck with existing properties.
(e) Singapore is in big trouble now. We can see this with the 'aggressive activities by our ministers to tap the Middle East market and investment...hoping to get more investors from these countries to come to Singapore.'. Unfortunately, this is not going to happen anytime soon. The Middle East consumers/investors are more attuned to Muslim markets like Malaysia, Indonesia and Turkey and not Singapore. We can witness the thousands of Middle East tourists that come to Malaysia compared to a mere hundreds that come here. And bear in mind that the Middle East millionaires are more proned to dumping their properties when they see no real values in retaining them due to their huge pockets.
(f) Its true that the markets of the future belong to those rich in commodities like Middle East countries and Malaysia which are rich in oil and natural resources. Unfortunately, Singapore does not have any of these qualities. Singapore is in many ways like a miniature US. We depend a lot on the existing local talents as well as investments from overseas. Our economy is export-based with the US being our biggest customer. We will be the worst-hit when the credit crisis reach our homeland anytime soon unlike the Middle East countries which have high-priced oil to back them up. Even Middle East will be affected soon when their oil price drops when demand goes down with the recession in the long term. No one is immuned to the US economy.
(g) Property transactions in Singapore is probably the lowest in a decade in February this year. I hardly see any transactions going on in some areas of Singapore. This is a very bad sign. When there are no buyers but many sellers...and many many more sellers by the end of 2008...and economy gets worst in end-2008, and we will see even fewer buyers..unless there is a major price correction, many sellers will get burnt and lose everything including their 20% deposit to buy the property. Banks will lower their property valuations when economy gets bad and sellers will be hard pressed to compete for buyers' money.
(h) Even the IR, F1 Grand Prix, Youth Olympics etc will not do much to hype up the property market at a time of economic downturn. This is because F1 Grandprix is only held less than a week in a year so as the Youth Olympics. IR/Casinos are found not only in Singapore but also in Malaysia, Korea and US. When times are bad, no one will be gambling away their money at the casinos. In year 1996, Singapore property market experienced its most robust year, even better than 2007, where buyers pay people to queue up for units. At that time, our government even plans to have a bullet train to link to Malaysia, and are talking up plans to expand the Marina Bay area with their huge land reclaimation efforts. Government also has great plans for Tanjong Rhu area with a Marina and Marine Village planned. But the 1997 currency crisis came and every plans that we had go down buried in the grounds for 7 or more years....What makes you think that this wont happen again this year round ???
(i) Have you ever considered why Government corporations like Temasek and GIC are heavily investing in US/European banks to keep them afloat from the sub-prime crisis ?? It is because Singapore has so much stake to lose if these crisis goes uncontrolled....from the pattern, it seems that the damage is already done and cannot be undone despite the massive injections of funds from GICs and Sovereign Funds. The US economy is in debt to the tune of US$3 trillion or more....How to rectify these problems ???
And so, my friends, if you still think that the already overpriced property prices in Singapore will go up further, you are indeed dreaming. Wake up to reality ! |
Spot on...... |
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Guest
on 07 Mar 08 7:59 pm
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| Anonymous wrote: | The fact is the market is overpriced.
Only a fool will buy an overpriced market.
A fool & his money is soon parted. |
Yes when The Sail At Marina Bay TOP and speculators go up and see their units to find out that the view of the murky water bay is not as good as what they thought !
They probably will dump their units all at once.....I just wonder who will pay August 2007 price of S$1.5 million for a 614 sq.ft studio at The Sail when its TOP. Poor investor kena cheated ! |
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Guest
on 07 Mar 08 9:58 pm
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US loses 63,000 jobs in February
AFP - 23 minutes agoWASHINGTON (AFP) - - US employers slashed payrolls by 63,000 jobs in February, the government said Friday in a sign of more struggles for the world's biggest economy.
It was the second straight month of losses in nonfarm payrolls, seen as one of the best indicators of economic momentum. In January, revised data showed a loss of 22,000 positions.
February's loss was the biggest since March 2003, at the start of the war in Iraq.
The unemployment rate, which is based on a separate survey, fell to 4.8 percent from 4.9 percent a month earlier. |
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Guest
on 07 Mar 08 10:38 pm
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| Anonymous wrote: | The fact is the market is overpriced.
Only a fool will buy an overpriced market.
A fool & his money is soon parted. |
How a person can determine is overpriced??
He can't afford.. so to him is overpriced loh!! |
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Guest
on 07 Mar 08 11:40 pm
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| Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | | Anonymous wrote: | hi guys,
i feel that i have opened my eyes when i read this topic...thanks for such an interesting topic...
anyway, as a newbie, may i ask you guys how to find information about how to buy a condo, how to apply for bank loan etc ...?
i meant, i believe that the price is going to go up, so i think about buying 1 condo apartment but i don't have that much cash...
so i'd like to know about the process of applying for bank loan (get how many percent, how much is the installment per month/year, what is the best bank to apply for loan) ...
is there any website that i can find out those details?
thank you,
David |
you have make the right choice  If you going to rent for 2 years and 2 years later than you think of buying then it is too late.... The property price in two years time will be more EXPENSIVE !!! This is what happened to those foreigner two come in to singapore in 2005 and 2006... They find renting is cheap in singapore, never thought that renting can shoot up for more than 100%...
I even know of someone who has joined the singapore workforce in 2002, renting is dirt cheap during that time, renting from 2002 to dec 2007 and never think that rental can shot up so fast...... finally he brought his own apartment in the begining of 2008....... Just imagine renting for 5 GEAT YEARS.....than BUY.... !!! Thanks for this ppl supporting the singapore property market.... !!! Cheers for another year of grow in 2008 !!! |
RIGHT if you follow those MISS THE BOAT, FOLLOWERS, DUMP DUMP PPL ideas, that IS, rent first dun't buy, rent for 2 years then buy loh, WELL good luck to you.....!! |
GURU SINGH predicted singapore property market crash in dec 2007, had GONE MIA like our JI Head.... hidding somewhere in the "Long Kar" |
rent first also can, rent first and save some money then buy, more healthy for singapore property market.  |
To all BIG TIME FOLLOWERS, MISS the BOAT, those kena BURN in STOCKS Market always want singapore property market to crash....all these are LOW LEVEL thinking.....
et me tell you all, why they kena Burn in stock market ? why they are call MISS the biggest boat ? why they are call big time FOLLOWERS ? why they are call BEST in CUT and PASTE ? like some of the primary school kids.....
let me tell you, property market in singapore is starting to get warming up now....starting last week i am receiving quite a few calls from agents indicating that they have instance buyers to buy my unit... this is a true indication that buyers are coming back slowly....
forever FOLLOWER, MISS the BOAT will not understand what is behing the sense, everyday they plip alot of newspaper, magazine cut and paste forever... |
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