Quote:
"Anonymous has left a new comment on your post "How to become a millionaire now?!?":
if you continue to believe this Tiger crap and not understand why the market is behaving like it is now, how can you ever hope to profit from it?
besides, how can you derive rental return from your house you stay in, assuming you will be moving into your dream home.
market did not collapse in 1998 - it did that in 1997."
First of all, thank you so much for leaving me the first-ever comment in my blog (excluding those left in the cBox).
I'm truly honoured :)
No joke!
Anyway....
Correct me if I'm wrong, the property prices are hyped by the 'recovery' seen in the equity market, across Asia and probably the world; consumer confidence; more money flowing in the market & probably even low interest rates.
What I don't understand is how can the market be demanding for higher than prices asked in July / August 2008?
Mind you, that was almost the peak of the prices.
Don't be mistaken. I'm not referring to prime areas because I know that prices in these areas are still trying to resume their former glory.
I am referring to the prices of landed properties in less glorified outskirt areas such as D19 and D28.
Why?? Can you tell me why?
I'm frustrated because sellers are really asking for RIDICULOUS prices above bank valuation. Some as high as $300k above valuation.
Yeah I know property prices fell before 1998 but did you realise that prices in 1998 went down even further?
As much as I do not want to prescribe to this Tiger crap, I can't help but to wonder if it'd happen again.
But that doesn't mean that B & I will halt the search for our dream house now.
We will still do that.
Pertaining to your question about how are we going to derive rental income...I never said we'll be selling our flat after we bought our dream house.
In fact, the rental yield of this flat is much better than the rental yield of a private property, even those in the prime area.
Better still, I don't need to pay hundreds of dollars for the maintenance of facilities that I do not get to enjoy. Plus I don't have to pay for any loan interest because I didn't borrow a single cent to fund this place.
Sighs.
I can lament so much but I really can't do anything much.
I once had a friend who said I will be a millionaire one day based on my ziweidoushu reading.
I hope he didn't say it to comfort me.
Maybe he meant after I die. Bleah!
Okay okay, before one of you give me a blasting again...
I do not subscribe to the ziweidoushu crap.
But it made me feel good.
Heh.
"Anonymous has left a new comment on your post "How to become a millionaire now?!?":
if you continue to believe this Tiger crap and not understand why the market is behaving like it is now, how can you ever hope to profit from it?
besides, how can you derive rental return from your house you stay in, assuming you will be moving into your dream home.
market did not collapse in 1998 - it did that in 1997."
First of all, thank you so much for leaving me the first-ever comment in my blog (excluding those left in the cBox).
I'm truly honoured :)
No joke!
Anyway....
Correct me if I'm wrong, the property prices are hyped by the 'recovery' seen in the equity market, across Asia and probably the world; consumer confidence; more money flowing in the market & probably even low interest rates.
What I don't understand is how can the market be demanding for higher than prices asked in July / August 2008?
Mind you, that was almost the peak of the prices.
Don't be mistaken. I'm not referring to prime areas because I know that prices in these areas are still trying to resume their former glory.
I am referring to the prices of landed properties in less glorified outskirt areas such as D19 and D28.
Why?? Can you tell me why?
I'm frustrated because sellers are really asking for RIDICULOUS prices above bank valuation. Some as high as $300k above valuation.
Yeah I know property prices fell before 1998 but did you realise that prices in 1998 went down even further?
As much as I do not want to prescribe to this Tiger crap, I can't help but to wonder if it'd happen again.
But that doesn't mean that B & I will halt the search for our dream house now.
We will still do that.
Pertaining to your question about how are we going to derive rental income...I never said we'll be selling our flat after we bought our dream house.
In fact, the rental yield of this flat is much better than the rental yield of a private property, even those in the prime area.
Better still, I don't need to pay hundreds of dollars for the maintenance of facilities that I do not get to enjoy. Plus I don't have to pay for any loan interest because I didn't borrow a single cent to fund this place.
Sighs.
I can lament so much but I really can't do anything much.
I once had a friend who said I will be a millionaire one day based on my ziweidoushu reading.
I hope he didn't say it to comfort me.
Maybe he meant after I die. Bleah!
Okay okay, before one of you give me a blasting again...
I do not subscribe to the ziweidoushu crap.
But it made me feel good.
Heh.
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