Poor housing outlook not deterring land buyers

(22-02-2014, 10:39 AM)freedom Wrote:

(22-02-2014, 01:39 AM)corydorus Wrote: Housing is big ticket item which average folks take lifetime to service them .To know the developers can whine for not making 20% margin out of many people pocket is an insult. Even 10% i find is too much. We certainly need more competition to lower social cost.

Given 10% profit, will you start a property development project? If you will, why don't you start a property development company and add to the competition? We really need more businessmen like you to depress the price of properties.

If you are not willing to do it, you have no right to ask anyone or any profit-driven company to take the risk you feel not well compensated for.

Is already stated foreign developers who are willing to do it. If you want to Prove me wrong, instead of challenging me why not the local developers ? Let bring in more competitors and see CDL will quit instead.

Have you considered the risk that the foreign developers could just go away when there is not going to be enough profit and even the properties are just half way? Who is going to clean up the mess?

If I extend your thinking a bit further, subprime was the best economy model because the poor also could get a cheap loan and a house. Do you agree?

(22-02-2014, 10:56 AM)freedom Wrote: Have you considered the risk that the foreign developers could just go away when there is not going to be enough profit and even the properties are just half way? Who is going to clean up the mess?

If I extend your thinking a bit further, subprime was the best economy model because the poor also could get a cheap loan and a house. Do you agree?

Sub-prime finance was a "con-job" making use of the poors and everyone else by people in the financial industry-sanctioned indirectly/directly by Uncle Sam.
Never, never say it (something like that) will never happens again.

Not exactly. The poor have nothing in the beginning and have nothing in the end. They have lost almost nothing. What subprime really hurt are those who really have the means to buy a properties but paid a dear price because subprime created too much non-existing demand.

(22-02-2014, 10:56 AM)freedom Wrote: Have you considered the risk that the foreign developers could just go away when there is not going to be enough profit and even the properties are just half way? Who is going to clean up the mess?

This is my last post on this topic. I read that you rather pay 20% more on Housing in Singapore from a local developer. An item that many people takes a lifetime to pay and an amount which can be more than the total taxes we paid directly to our government for many people entire career.

(22-02-2014, 10:56 AM)freedom Wrote: Have you considered the risk that the foreign developers could just go away when there is not going to be enough profit and even the properties are just half way? Who is going to clean up the mess?

If I extend your thinking a bit further, subprime was the best economy model because the poor also could get a cheap loan and a house. Do you agree?

what happen to free market and competition? If they cannot compete and fail, so be it. No one should become too big to fail, and definitely get no bail out.

The issue here is the local developers starts to whine when they cannot sell as fast as they want.
Like crybaby.

Anyway Tharman already asked them to 'take a hike' in the budget statement.

(22-02-2014, 02:56 PM)kichialo Wrote:

(22-02-2014, 10:56 AM)freedom Wrote: Have you considered the risk that the foreign developers could just go away when there is not going to be enough profit and even the properties are just half way? Who is going to clean up the mess?

If I extend your thinking a bit further, subprime was the best economy model because the poor also could get a cheap loan and a house. Do you agree?

what happen to free market and competition? If they cannot compete and fail, so be it. No one should become too big to fail, and definitely get no bail out.

No one is saying anything about no free market or competition. Local market does have competition. And if you think the return is good enough, why don't you start a property development company and compete with existing players? No one has stopped you from doing it.

This is not about too big to fail, but orderly market. Being cheap does not necessarily make everything better. As I said earlier, subprime offered cheap credit, everybody knows what happened thereafter.

Or putting it in another way, are you enjoying the cheap labor the government has imported? Every coin has two sides.

(22-02-2014, 12:01 PM)corydorus Wrote:

(22-02-2014, 10:56 AM)freedom Wrote: Have you considered the risk that the foreign developers could just go away when there is not going to be enough profit and even the properties are just half way? Who is going to clean up the mess?

This is my last post on this topic. I read that you rather pay 20% more on Housing in Singapore from a local developer. An item that many people takes a lifetime to pay and an amount which can be more than the total taxes we paid directly to our government for many people entire career.

Not true. I pay what I believe is reasonable and is offered by the market. I weigh the benefit and the risk. I don't believe unbelievable benefit without risk. Every action does have its consequences. Ignoring it does no one any good.

If the market offers unreasonable high price, I choose to leave the market as most of rational buyers do instead of hoping that someone else is going to drive it to unsustainable price.

market is driven mostly by supply and demand. Artificial supply is as dangerous as artificial demand.

(22-02-2014, 03:22 PM)opmi Wrote: The issue here is the local developers starts to whine when they cannot sell as fast as they want.
Like crybaby.

Anyway Tharman already asked them to 'take a hike' in the budget statement.

Everyone whines when their benefit is damaged. You can choose not to listen to it, but you can't prevent people from whining. Everyone else has as much freedom as you do.