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1.6m to a high earner is " affordable " .
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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(02-04-2013, 05:11 PM)Musicwhiz Wrote: (02-04-2013, 04:58 PM)egghead Wrote: What I find scary is the loan of $1.6m - never taken such a big loan in my life.
I personally cannot imagine any loan greater than $500,000. Then again, that's just me.
Must admit not many has the capacity to qualify or service this sizable loan. But it is definitely peanut to our beloved ministers, they don't even need to take such small loan.
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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There will still have this absd for pple wanting to buy second property notwithstanding loan for first property is fully paid.
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there are 2 sides now, long on low interest rates, or short.
If ur long on low interest rates, u WILL loan as much as you can, as long as you can pay the interests repayments...
that's why UOB was clever to start the now defun, 50 yrs home loan...
If ur short... well.. ACCUMULATE cash for firesales!
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!