I know where u guys r coming from. I share the same point of view. BUT not until ppl start losing thier jobs they will take this seriously.

This shit if it blows it's going to blow it big. In meantime, nobody knows when's it gonna blow. They r using the qe every time to prevent it from blowing.

Who knows when will it happen? Might be tmr or might be in 20 yrs. So what's ur game plan? Calculate the risk and game on. Or probably just hope it will bust very soon. Either way, it's all up to ur game plan.

The last one who jumps in will die first that's for sure.

Singapore PM warns about risk of second global recession[SIZE=7]


SINGAPORE: Singapore Prime Minister Lee Hsien Loong says the global economy is deeply troubled and in the short-term, there is a risk of relapsing into a second global recession.

He said the economic problems in the United States and in the European Union would take years to resolve, even assuming they muster the political will and consensus needed.

"Singapore is vulnerable to these external problems, so we should be prepared for turbulence ahead. Fortunately, Singapore is in a good position. We have a vibrant economy, a capable and hard-working people and substantial reserves built up prudently over many decades.

"These give us the resilience and the resources to see us through the worst storms," he said in his speech at the swearing-in ceremony of the republic's seventh President Dr Tony Tan Keng Yam at the Istana last night.

On Dr Tan's responsibility, Lee said: "You are taking office at a critical point in Singapore's economic and socio-political development."

"Indeed, protecting our Past Reserves was a major reason for creating the institution of the Elected Presidency.

"Our Past Reserves are our rainy day funds, which are not just for today's Singaporeans, but also for our future generations, our children today and their children tomorrow," he said.

Lee said the president holds the second key and must agree before the government can draw upon Past Reserves.

He said drawing on "our reserves should only be an absolutely last resort. Our first strategy is to ensure a resilient and dynamic economy."

"But our reserves give us confidence that we can weather any crisis, however severe it may be. My Government will continue to be prudent and build up our reserves year-by-year," Lee said.

He said there will surely be future occasions when the government will have to seek the president's approval to draw on our hard-earned Past Reserves again.

"It could conceivably happen within your term as president, if the dangers facing the world economy escalate and precipitate a major crisis.

"In such an eventuality the government will work with you, Mr President, to handle the request and decision deliberately, systematically, and in the best interests of Singaporeans," Lee added. - BERNAMA

This post has been edited by keithcky: Sep 2 2011, 12:38 PM

based on my experience, i forced to sign a letter to confirm own stay/business everytime i take a bank loan, maybe gov report is not reflect the true situation.

and most chinese buy prop is for rental income and suprisingly many the tenant are Malays or foreigner (be expatriate or labour)
for my case, i rented an apartment to a Malays at RM1700 pm and i dun understand why he dun buy his own??
also i rented an apartment to a group of pakistan at RM1400 pm and they can afford. (just share the rent)
not mentioned my rent to students (about 1000 pm), expatriates (>5000 pm), low income earner (600-700 pm) etc which is quite common nowaday.
also same to shop lot, why they pay few thousands for rental and not buying their own???

i think many has the same experience as me..
so KL prop for rental income is sustainable. unless our econ do badly and no more job, no more foreign workers, nomore malays from small cities to rent, no more exptriate for projects, no more bizman to rent shops, no money for parent to send children to study in KL...

p/s: pls remember we have more than 2mil foreign worker in KL...how many mil migrants from small town, kampong?

sounds serious...

Remember 2008/2009 when they gave the first warning on global economy, Mys gomen so slow in response, in denial saying every ok here blah-blah. Few made a fortunate from the first dip when properties in selected area went for lelong.

When Sg gomen speaks, better listen. When Mys Conment speaks, you can consider BS in the toilet and laugh your hearts out.

http://www.starproperty.my/PropertyGuide/Living/13756/0/0

By Annie Ooi | August 3, 2011
Photographs by Kevin Tan

Multi-million-dollar view

Oh Yes, I do remember it.

At that time I was like.... o.O? Who are they trying to con?

hmmm...our big enemy is inflation.

economy down or not. new properties price are still at higher side.

you only can buy those subsale maybe with some little discounts only, with exemption of those really need cash in urgent / lelong sales.

developers will not launch any properties in the down turn time mostly, the just want to clear exisitng stocks they have. Or else, maybe very limited units.

so if you dun mind, just prepare yourself for subsale but not new properties from developers. and be prepared pay for high legal fees and stamp duty and bla bla bla. hehehe...remember, it is always NOT cheap to buy Property.

Lower bank valuation nowaday is the biggest deterrent to buying subsales and this trend will continue with the owner calling for sky high prices and the bulk of the purchaser unable to finance the difference in valuation. As a property agent, I am seeing many buyers unable to top up the difference and going for new developments.

The real test will come early 2012 when the bulk of the 5/95 properties come online especially the soho,sofo,sovo etc which is enticing new purchase to buy for the sake of buying properties due to easy credit without taking into account the target end user

hmmm...hopefully those buyers are well-served with backup.

to be truth, if i got 100k or 1.o mil cash, i will still go for new developments instead of subsale in recent years coz 100k cash allowed me to buy 1.0 mil worth of properties / 1.0 mil cash allowed me to buy 10mil worth properties.

i believe a lot of people are really study of their affordability at current and future, hopefully.

buying properties as many as you can is not a problem as long as you got well back-up. So, know yourself better.

This post has been edited by kh8668: Sep 2 2011, 07:55 PM

what you said is very true...i could say you are really damn good and have a very good picture of the world economy...
n IMO, i think our Malaysia recent skyrocket property prices is to a certain extent due to loosen and open door goverment policy to sell land to replace goverment source of revenue...
b4 this, we rely on our "oil" (now we know our oil is depleted soon)
now we sell our land (balance finance budget)
sad..sad..sad
we sell our environment, our resources...(rare earth also wanna set up here)
when only Malaysia could like Singapore to "sell our brains"??
yeah..honestly we are very brain drain...


This post has been edited by sunzi69: Sep 2 2011, 08:06 PM

time to increase my rental...

as a property agent, or among your circle.
could you please advise what is the current state of subsales? which demographic of people and what kind of property still selling well?

any difference comparing to 2010?

if you need to do a study of transaction price (subsale) of a certain area in Klang Valley, just PM me the area address and I will compile for you FOC

This post has been edited by marcusho: Sep 2 2011, 09:28 PM

yeah..noted.

with LTV 70 and the latest news of US and Eurozone recession looming, there is a definite pull back effect and with the banks getting cautious with loans, I would say the horizon is looking gloomier. The rate of increase in property prices IMHO should not be as great as the last 2 years but having said that places like Setia Alam is still deemed affordable if compared to P.Jaya and if you are looking for landed, there is simply no choice but to stay further.

And Setia Alam subsale seems to be chugging along fine..for now

Lucky you ... that's true 2008, petrol highest jump & gold was rm95/97 per gram. Now currently waiting for another gold jump to increase my rents for 2012.

The problem is not the existing tenanted properties, the problem is the overbuilding we are having now, tour around KV and see how many tower cranes in the sky, see the huge numbers of projects that are under construction.

When those bulk inventory hit the market in the very near future, even a small 10% of inventory struggling to flip out and toast, it will drag down the whole industry in terms of price and sentiment, as most of the investors are following what others are doing...

In the last few years, we've seen 5/95 scheme, extremely easy credit from the banks, zero interest during construction, developers rebate 10-20% for downpayment etc (these are the recipe we have had seen in the west before their housing bubble bursts). It has sucked in many investors who believe property prices will never drop, they all want to make a few quick bucks and filp out the properties upon completion.

If they can't find tenants or buyers, how many of them can keep their empty properties for an extended period? They have to service their mortgages, sadly, the banks who enslave them will come and take every penny they got...

As some said the banks are starting to tighten credit, this is a leading indicator for house prices going forward, home loan size falls so does house prices.

If this bank tightening story is true, then the tide will turn in the very near future. Get prepared and good luck guys! again buy GOLD hahaha.

Inflation doesn't necessarily happen across the board.

I think we will see consumer price inflation (food, petrol, clothing etc), but asset price deflation (proeprty, stock, especially the government bonds which have had a 30 years bull run).

in this case, it is safe to buy prop in area whihc is not overbuild lor. i dun know which areas gave 5/95, DIBS, ZEC, rebate 10-20% etc but prop near my areas (setapak/wangsa/gombak/rampai, pj/kelana, KL centre/ampang etc) do not have this goodies so i think my areas are consider still very safe. new prop near my areas always selling very fast (almost sold out b4 launching) and some projects need insider connection to buy in advance to get better view/units. (especially commercial units). i also noticed once VP-ed, almost all units are tenanted and i strongly believed under contructions will be the same. for me, i still prefer to buy prop near populated area. (within 10km from KL , PJ)

maybe someone can highlight whihc areas hv offerred goodies so we all can avoid investing there? i recalled sp setia, sime did that , who else? but i dun know where is the areas. putrajaya/cyberjaya, shah alam? pls share