Redefining affordability of homes

[piggo]

Housing is becoming more and more affordable. My banker told me with a 40 year loan, a house shouldn't be an issue

Hi Guys,

Just keep balloting lorr..

I managed to get mine after 7 try...
And My Q no. is like twice of supply but there is still a few low level units left so I just took them...

Resale price is crazy now..

We don't need high profile individuals to be president, first of all a president does not run the country the cabinet does, a president is just a custodian with a few powers so having so such high profile is really no meaning. If we need such high profile then tell me how ex-president SR Nathan who was a senior civil servant qualified in the first place? Before he became president did he handled major state affairs or handled muti-million mega projects? how did sr nathan qualify? If anybody thinks that the prime minister or cabinet has any lack of advisors that they need to consult the President on state matters just look at the army of administrators they have in the civil service.

The only person that I still see that is truly "neutral" is TJS by virtue of the fact that he contested in last election under SDP. No candidate can be 100% perfect but he is 100% neutral.

Ok.. so banking staff are also more interested in having their wealth in properties than stocks/bonds? .. Speaks volume to me.

They are more willing to give loans to buy properties than to buy stocks/equities.

That really speaks volumes.

[Musicwhiz]

Housing is becoming more and more affordable. My banker told me with a 40 year loan, a house shouldn't be an issue

With lifespans getting longer and quality of life improving for senior citizens, pretty soon you will hear of banks issuing 50-year loans!

[Ben]

Few days ago I spoke to a loan manager from one of the local bank in Spore on the quantum of loan that a bank will grant a borrower, thinking his answer would be about 35% to 40% of a person income. Well, guess what? He told me that his bank will approve loan up till 60% of a person income. That means as long as the monthly loan repayment is less than 60% of monthly income, the loan will likely get approved. I though Spore bank is quite prudent in giving out loan? Maybe not...

[piggo]

Yup, seems like these days 40% of income and payment till you're 70, is the new metric for affordability. Buy a house, mortgage insurance and dying young gives the best effort vs results ratio these days.