As if bnm could expand money supply indefinitely like the fed.

Being able to borrow for a (or very low) down payment means unqualified borrowers are getting mortgages, a practice that led to the U.S. housing crash in 2007, according to Standard & Poor’s.

Low down payment lending to subprime borrowers, those with poor credit and limited cash, also contributed to the surge in foreclosures in the U.S.

“The less of the homeowner’s own money is put into the payment, the more likely he or she will default” when asset prices plunge, Centaline’s Zhang said. “The risk is brewing slowly.”


Either economists will be out of job or the herd will be over the cliff.

RM devaluation is expected?

You should walk your talk first. Are you going to buy physical or paper gold? How much are you buying?

This post has been edited by icemanfx: Nov 5 2014, 01:09 PM

If local banks are prudent, bankruptcy from cc, personal loan and car loan won't be at alarming rate. The test will come when those dibs, low dp, housing loan approved in the last few years start repayment.

If full cream dairy ice cream considered expensive means there is a low limit on your net worth.

This post has been edited by icemanfx: Nov 5 2014, 01:21 PM

Don't try to distract from your poor cash holding, buy gold first than talk.

Since you said gold sure profit 10x, property only 1x; what are you waiting for? Don't have cash to buy?

Bank is not a charity organization, they have shareholders and bnm to report to. Like cc, personal loan and car loan, banks will repossess property as quickly. From npl to foreclosure will take 12 to 18 months, don't expect drastic drop until 2016.

While subsale is asking for new launch price+100k, if developer could let go their 111 units at new launch price +50k or lower, subsale sellers will be in a fix especially those over stretched flippers.

Have you ask your billionaire client; what he thinks of current property frenzy?

Btw, what are you doing in property thread? you should be in Gold investment thread

This post has been edited by icemanfx: Nov 5 2014, 11:21 PM

As if developer puts rm 33 million+ revenue before subsale sellers. if developer is in subsale market, they will keep substantial numbers to be released after vp and they are not. developer is not as stupid as flippers; why developer need to compete with flippers? they will advertise at or higher than subsale asking price but give discount to genuine buyers. flippers are unlikely to find out. even if flippers find out, developers is selling vp units at launching price, what can flippers do?

unless conventional economic theory doesn't apply to kv property, dead chicken will be plentiful.

The longer and higher the bull run, the harder and lower it will fall, it is a matter of when not if.

Some people said;
- land is no longer made. price will rise indefinitely.
- property is about location, location, location. premier area price will never drop.
- high end property price will never drop.

But in reality;

Home prices on Sentosa have fallen about 40 percent since 2012, compared with a 28 percent drop in 2008, Cheong said.

Prices of some condominiums slumped as much as 45 percent from 2007, when they were first sold, at auctions earlier this year by banks that repossessed them, according to Maybank Kim Eng.

A bungalow on 11,280 square feet of land on Treasure Island in Sentosa Cove was sold for 53 percent below the peak this year, while a 7,341-square-foot property on Paradise Island was priced 39 percent below the record S$3,214 per square foot, URA data showed.

Apartment prices on Sentosa have dropped about 43 percent from two years ago, data compiled by real estate research firm StreetSine Pte showed. Two units at Turquoise, a high-end condominium on the south side of the island, changed hands at 45 percent discounts to their initial prices in the second quarter, as banks sold them off in auctions, Maybank Kim Eng said.

http://www.bloomberg.com/news/2014-11-05/b...erty-curbs.html

Opportunity to pick up some dead chicken in sentosa? anyone?

Yours is from re agents and flippers point of view. After the end of bull run, you will realize small fish is eaten by big fish, and who is the ultimate boss.

There is a sucker born every minute, if existing subsale sellers don't buy new projects, others will.

According to your earlier posting, there are 111 units worth over rm 33 million left over in oug parklane.

This post has been edited by icemanfx: Nov 6 2014, 12:44 PM

There are reasons why less than 1% of adults have over $1 million net worth and the rich is getting richer. As you have vested interest, can't blame you or probably you deserve for not able to view differently.

This post has been edited by icemanfx: Nov 6 2014, 01:38 PM

The miracle is more like kv property could defy economic theory.

Given uuu couldn't get out of their position, they only hope for miracle to happen.


This post has been edited by icemanfx: Nov 6 2014, 01:42 PM

Not sure praying is enough to save uuu. Believe if uuu donate 50% of their profit to charity will earn more karma than praying alone.

If people didn't donate to charity, won't be asking uuu to donate. When uuu face foreclosure, will have only themselves to blame and angry with.

This post has been edited by icemanfx: Nov 6 2014, 02:28 PM

Givers gain, the more one gives, the more he gains.

It is no wonder that fewer than 1% of flippers could join the apex in wealth.

This post has been edited by icemanfx: Nov 6 2014, 04:45 PM

Just means you either give little (if any) to charity, taken a lot more from others or both.

Let see at the end of bull run, whether you have enough karma to be in top 1% bracket, become mortgage prisoner or bankrupt.

This post has been edited by icemanfx: Nov 6 2014, 05:25 PM