S'pore home prices still falling

(26-08-2015, 12:02 PM)corydorus Wrote: Unlikely because we still have low jobless rate. In fact the managed effort to control down the housing price past years probably avoided a contingent bubble which maybe uncontrollable.

agreed and with the 50% deposit on vehicle purchase, we have been implemented a mindset to cut back and only spend on needs and not wants.

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(26-08-2015, 07:15 PM)Life is a game Wrote:

(26-08-2015, 12:02 PM)corydorus Wrote: Unlikely because we still have low jobless rate. In fact the managed effort to control down the housing price past years probably avoided a contingent bubble which maybe uncontrollable.

agreed and with the 50% deposit on vehicle purchase, we have been implemented a mindset to cut back and only spend on needs and not wants.

Sent from my SM-N9005 using Tapatalk

A lot of my 40s friends are retrenched and been looking for jobs. Some are underemployed.
Just a few years back, they were high flyers.

(26-06-2015, 04:49 PM)jjlim84 Wrote: I wonder at what price levels, ppl will start to find properties cheap and start buying again. Or when will the government support the price by reversing it's policy, and reignite interest in foreign investors

if compared among global cities such as Hong Kong, London, Tokyo etc, Singapore's house price to income ratio is still one of the lowest

Sorry, this may be a little bit late. Just wondering where did you get the data from,and what sort of income are you talking about?

Thank you

(15-06-2015, 10:54 PM)Big Toe Wrote: Just spoke to a buyer of an EC to be completed mid next year.
Buyer bought a large unit during its initial launch.

Developer is having a 3% + 3% + 2% discount for new buyers(why developers can't be more direct and just say 8? Instead of X+X+X?), in short it is about 100K cheaper for the same unit now. Must be a bad feeling to buy something that is yet to be completed and price keeps falling.

(18-08-2015, 06:43 PM)CY09 Wrote:

(13-12-2014, 10:19 PM)CY09 Wrote: Personal Opinions: The residential market will hold up for the time being. This is because many individuals who own second properties are on loan repayments of 70% to their income. So this is not too bad. The only time massive foreclosures will happen in our country is when individuals lose their jobs. From the 08/09 recession, it is observed the government is possibly aware of the linkage of work income to mortgage repayment. Attempts were made to ensure workers by introducing the jobs credit scheme in 2009. I will not be surprised if this scheme is reactivated when our economy experiences another recession. This will prevent the domino effects of no income-foreclosure of homes.

Office space- This area is of greater concern to me. With 1.1B sq metre of office space coming out by 2018, similar demand has to be met. Current demand for office space is 6.8B sq m. This means a 16% increase in demand has to be achieved in 3 yrs time. Is this possible? I seriously doubt EDB's capability to do so. Do note in Straits Time today, the money section mentioned the increase is 3.2B sq m by 2018. I do not which figure is true so I stuck to the URA's statistics.

Therefore with this scenario, it is likely office rentals will plummet in 2018. My own estimation is office rentals will be 10% lower than current. If there is a recession, it will be a lot worse. Secondly, some office complexes are held by REITs. Therefore, expect lower yields and possibility of share placements since valuations will fall. There are no "job credit schemes" to save office owners unless the government is creative; maybe pay 20% of their interest payments to banks?

Retail- is less of a concern since the strawberry generation is coming of age. I believe this generation spends more of their income in consumption than the 1965s generation and before. So yup retail demand will meet the retail supply of approx 16%. Retail vacancy rate may increase slightly but this will not be much of an issue.

Hi gg,

Agree with you the missing link is unemployment rates which will hurt housing prices. I believe our current batch of ministers and civil servants are aware of this missing link and thus do have safeguards in place. This is why there was a job credit scheme in 2009 where the government paid part of the wages of private sector employees; this scheme was not present during the AFC.

Given our reserves, it is possible again for our govt to draw down on reserves to keep Singaporeans in their jobs for a sustained period of time. I too am worried about the global outlook where Singapore is likely to suffer in the O&G industry as the integrated Tuas yard opened at the wrong end of the oil cycle, our financial services' growth is now limited because almost everyone, who does not have a strong financial knowledge, has bought whole-life/endowment insurance that benefits financial firms and a slowing real estate market on the back of slow population growth.

As election is imminent, I hope parties will address these challenges and advise how we can sustain the jobs of employees on this island as part of their campaigning. Besides the usual job credit scheme of subsidizing employee's wages to ensure low unemployent

(26-08-2015, 07:15 PM)Life is a game Wrote:

(26-08-2015, 12:02 PM)corydorus Wrote: Unlikely because we still have low jobless rate. In fact the managed effort to control down the housing price past years probably avoided a contingent bubble which maybe uncontrollable.

agreed and with the 50% deposit on vehicle purchase, we have been implemented a mindset to cut back and only spend on needs and not wants.

Sent from my SM-N9005 using Tapatalk

(26-08-2015, 07:39 PM)opmi Wrote:

(26-08-2015, 07:15 PM)Life is a game Wrote:

(26-08-2015, 12:02 PM)corydorus Wrote: Unlikely because we still have low jobless rate. In fact the managed effort to control down the housing price past years probably avoided a contingent bubble which maybe uncontrollable.

agreed and with the 50% deposit on vehicle purchase, we have been implemented a mindset to cut back and only spend on needs and not wants.

Sent from my SM-N9005 using Tapatalk

A lot of my 40s friends are retrenched and been looking for jobs. Some are underemployed.
Just a few years back, they were high flyers.

hopefully they did not spend based on their future income expectations. I still try to spend based on the income when I started work after graduation.

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(26-08-2015, 07:39 PM)opmi Wrote: A lot of my 40s friends are retrenched and been looking for jobs. Some are underemployed.
Just a few years back, they were high flyers.

Just checking, are your friends high flyers but in the wrong or sunset industry?

(26-08-2015, 07:44 PM)natnavi Wrote:

(26-06-2015, 04:49 PM)jjlim84 Wrote: I wonder at what price levels, ppl will start to find properties cheap and start buying again. Or when will the government support the price by reversing it's policy, and reignite interest in foreign investors

if compared among global cities such as Hong Kong, London, Tokyo etc, Singapore's house price to income ratio is still one of the lowest

Sorry, this may be a little bit late. Just wondering where did you get the data from,and what sort of income are you talking about?

Thank you .


Forgotten which part of the report i have read    But it was by Demographia, you can try and google it. I believed it was based on household annual income, compared among selected 'superstar' cities like LA, Hongkong, Shanghai, Tokyo, London etc

(26-08-2015, 08:12 PM)Bibi Wrote:

(26-08-2015, 07:39 PM)opmi Wrote: A lot of my 40s friends are retrenched and been looking for jobs. Some are underemployed.
Just a few years back, they were high flyers.

Just checking, are your friends high flyers but in the wrong or sunset industry?

Cyclical. Oil and gas. Some finance.

The SOR-based mortgage loan isn't popular, IIRC

Three-month SOR jumps to 1.4%; level not seen since Jan 2009

http://www.theedgemarkets.com/sg/article...n-jan-2009

(26-08-2015, 07:39 PM)opmi Wrote:

(26-08-2015, 07:15 PM)Life is a game Wrote:

(26-08-2015, 12:02 PM)corydorus Wrote: Unlikely because we still have low jobless rate. In fact the managed effort to control down the housing price past years probably avoided a contingent bubble which maybe uncontrollable.

agreed and with the 50% deposit on vehicle purchase, we have been implemented a mindset to cut back and only spend on needs and not wants.

Sent from my SM-N9005 using Tapatalk

A lot of my 40s friends are retrenched and been looking for jobs. Some are underemployed.
Just a few years back, they were high flyers.


**If they have started investing in property which can create passive income which can cover their expense, retrenchment is not a big deal. it is an independence day where you are free to explore what you want to do in you life to achieve more. 

(03-09-2015, 11:59 AM)strongman93 Wrote:

(26-08-2015, 07:39 PM)opmi Wrote:

(26-08-2015, 07:15 PM)Life is a game Wrote:

(26-08-2015, 12:02 PM)corydorus Wrote: Unlikely because we still have low jobless rate. In fact the managed effort to control down the housing price past years probably avoided a contingent bubble which maybe uncontrollable.

agreed and with the 50% deposit on vehicle purchase, we have been implemented a mindset to cut back and only spend on needs and not wants.

Sent from my SM-N9005 using Tapatalk

A lot of my 40s friends are retrenched and been looking for jobs. Some are underemployed.
Just a few years back, they were high flyers.


**If they have started investing in property which can create passive income which can cover their expense, retrenchment is not a big deal. it is an independence day where you are free to explore what you want to do in you life to achieve more. 

personally, I dont believe in the 'passive' part of passive income. All investments will go 'chao sng' over time. Need to reallocate over time.