Tuesday, October 14, 2008

About this Blog

When the bubbles of capitalists' greed and fear burst, guess who suffer

Danny wrote this comment on the blog:
Dear SPB (Smart Buyer, the blogger),

I hate your blog! You are providing valuable information to people that would otherwise make foolish decisions. Clearly, I cannot profit from unmade foolish decisions. It is apparent that the pearls of wisdom you are spreading has already cautioned many a foolish buyer to instead exercise prudence!

How dare you undermine the efforts of sale "EXPERTS" who are hastening the crash by encouraging people to "buy-now-before-it-goes-even-higher". Just because these so called "EXPERTS" have been wrong in their predictions earlier this year by claiming that prices will continue to rise for the next 2 years when in fact the latest URA results proved that prices have peaked and are softening, thereby making the experts technically wrong, and you technically right, does not give you the authority to question them and make their life more difficult! Do you know how difficult it is for them to stand up to scrutiny!

Let me illustrate this point clearly with a personal example. A certain Mr. Wang of X property agency, has promised that HDB prices will continue to rise, even though its already $500 psf (at Dover) it will rise by another 15% to about $575 next year and will absolutely not be affected by private condo prices reclining. (eg. if a $650 psf condo falls 20% to $520) people will still pay more for the HDB even though it's older, with an inferior design. Do you realize the years of training to blatantly ignore reality and the gall it requires to make such statements? Mr. Wang has 2 children, a BMW and a rolex wearing habit to support. Blogs like yours are making it difficult for him to make a living.

From your blog postings, I know that you are concerned about the welfare of others over committing to property. Do have a heart for the suffering of Mr. Wang. I'm sure he will be devastated to down grade to a Toyota and a Tag Heuer.

I urge you, as a fellow prudent buyer that will profit from a property crash to shutdown your blog for good!

Smart Buyer replied:
Dear Danny (who hates my blog),

Last Sunday, I saw a TV documentary about how young Americans were driven to suicide by their mounting debts and how the working-class Americans would have no hope of ever becoming debt-free while the rich gets richer; I was choked with indignant.

When the bubbles of capitalists' greed and fear burst, guess who suffer?

Despite the daily verbal abuses I received from people like "Mr Wang", I cannot shutdown the blog.

Best wishes.

May also want to read:
History of Singapore Property 1960 to 2008
HDB Resale flats Price Index 1990-2008: Graph & Chart
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase


Anonymous said...

Guess some people just don't like to listen to the truth.

Jst one year ago, during the bull market. STI closing at record high everyday. No one will ever imagine one year later (which is now), their investment can shrink by 40%-50%. If one playing property the way he plays shares, it's jst matter of time....

Anonymous said...

Dear Smart Buyer

Dont worry about people like "Mr Wang". You have the support of the masses.

If only you blog is more accessible. Had forgotten to bookmark your blog and took me a while to google your blog.

Take care and best wishes.

Smart Buyer said...

Dear Anonymous,
Thank you for your encouragement.

Sorry that you lost me and good thing you found me again.

Hope to hear from you more often.

Best wishes whoever you are.

Anonymous said...

Your blog has provided a honest information on the local property scene.

Post a Comment

Dear visitors:
Your comments are most welcome!

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 :)