Saturday, February 9, 2008

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Smart Buyers Collection:Having a house which has a big loan is a liability at this global trouble time.

Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.

By: Anonymous
Posted: 30-12-2007

Government has already started to supply more HDBs and ECs to the market. They have also given more sites for private housing development. The price has gone too high and I am sure there are many who can't support the loan when their apartments are ready. The buyers are hearing more news and they now do their math before buying. The banks also do their assessment before they approve the loan. There are condos that have their TOP and units are still available. They Singaporean income has not changed much and the dreams of owning a private apartment will be put aside now that they have woken up. Many of the foreign companies will be laying off staffs next year especially the banking sector. Integrated resort might not be able to bring in the crowd and can become a liability rather then profitability. There are choices for a Casino in countries like Malaysia and Macau. Hong Kong Disneyland is also making a loss. Terrorism is back to the people thoughts and Terrorist in Pakistan can become more active because of the government there is distracted. US Sub prime is affecting the stock market and STI index follows US market. Many countries suffer inflation and that’s including Singapore. Next year, people will be more cautious of their spending. All these factors are real and it will continue to grow in people heads. It’s just a matter of how faster it moves downward. So far the market is still moving down slow due to the reason that many of the countries are injecting funds to buy part of the share of the banking market. The negative news continues to rise. The money is better leave in CPF and local banks to grow interests.

Having a house which has a big loan is a liability at this global trouble time. Unless you have a fully paid house then you are then safe. However, always remember to buy insurance as there different kind of disasters that many countries are facing, Particular Natural disaster like Earthquake (Singapore have tremour) and Flood or Terrorism. Singapore government is well aware and has done many exercises to get ready if it occurs.

The government has promised to make housing affordable so there is no need to fear and commit on your dream house at crazy price that might become your bad dreams later.

Just remember not to buy anything you can't afford.


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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)