[sogo]

1 million loans for condos are very common meaning alot of ppl are in such debts. So how to survived? Eat sweet potatoes?

[sgh]

1 million loans for condos are very common meaning alot of ppl are in such debts. So how to survived? Eat sweet potatoes?

That is why now trend is boom for savers and doom for borrowers. Some ppl like to borrow cheap monies to earn more monies previously and this group also affected as their borrowing cost increase

Some balance need to be strike though becuz if all borrowers default we have a serious problem on hand and a recession maybe in the works

[mikotan]

Don't be naive, high interest rates will not stay for 30 years. At most 2 years from now, interests rates will go back to 1-2%.

[sgh]

Don't be naive, high interest rates will not stay for 30 years. At most 2 years from now, interests rates will go back to 1-2%.

The problem for some ppl is can tahan this 2 years or not? If can no issues but if cannot how? Bankruptcy is norm in recession

[grotesqueness]

nation wide ponzi scheme

[sogo]

That is why now trend is boom for savers and doom for borrowers. Some ppl like to borrow cheap monies to earn more monies previously and this group also affected as their borrowing cost increase

Some balance need to be strike though becuz if all borrowers default we have a serious problem on hand and a recession maybe in the works

Pap got control meh? When ppl complain housing prices out of control pap just brush it off

[sogo]

Don't be naive, high interest rates will not stay for 30 years. At most 2 years from now, interests rates will go back to 1-2%.

Powell saying next time normal rates is 3-4%. So era of low rates is no longer here. First sinkies can tahan this few years or not?

[sogo]

The problem for some ppl is can tahan this 2 years or not? If can no issues but if cannot how? Bankruptcy is norm in recession

Many ppl just borrow and spend one. Even if they earn alot might not have much savings.

Haven count if no new buyers then valuation will drop then what happens?

[Blasterlord2]

It's not a problem for many people, esp. couples who are working in the civil service.

Assuming that each one earns $6k, household income will be $12000. Paying $5700 a month is less than half that.

[sogo]

It's not a problem for many people, esp. couples who are working in the civil service.

Assuming that each one earns $6k, household income will be $12000. Paying $5700 a month is less than half that.

So everyone works in civil service? And everyone dun have other commitments?

[Blasterlord2]

So everyone works in civil service? And everyone dun have other commitments?

Many who buy work in civil service, or at least in iron rice bowl jobs. As what I've calculated, even if they have other commitments, there will be over $6k as disposable income. And I can say this is only a low estimate. Most earn much more.

[sgh]

Many who buy work in civil service, or at least in iron rice bowl jobs. As what I've calculated, even if they have other commitments, there will be over $6k as disposable income. And I can say this is only a low estimate. Most earn much more.

That is why for my era parents ask me to study hard get good grades try to enter civil service. I did join and left to taste the private sector. Now old want to go back but for IT they outsource to GovTech already

[sgh]

Pap got control meh? When ppl complain housing prices out of control pap just brush it off

Actually this is catch 22 for govt. There are alot of Sporean housing agents also they need to eat same as insurance agents. So if govt intervene too much this group of ppl no rice eat complain govt break their rice bowl how?

[sogo]

Many who buy work in civil service, or at least in iron rice bowl jobs. As what I've calculated, even if they have other commitments, there will be over $6k as disposable income. And I can say this is only a low estimate. Most earn much more.

so u are saying all the ppl that purchase condos are all civil servants? or u anyhow guess?


https://www.careers.gov.sg/who-we-are/th...ic-service


153k civil servants can snatched up all the condos? plus not all are high ranking civil servants. LOL

[sogo]

Actually this is catch 22 for govt. There are alot of Sporean housing agents also they need to eat same as insurance agents. So if govt intervene too much this group of ppl no rice eat complain govt break their rice bowl how?

they should create proper jobs for these ppl so they dun anyhow fry up properties.

[Blasterlord2]

so u are saying all the ppl that purchase condos are all civil servants? or u anyhow guess?


https://www.careers.gov.sg/who-we-are/th...ic-service

153k civil servants can snatched up all the condos? plus not all are high ranking civil servants. LOL

I did not say ALL. I said MANY. And even many of those who are not in civil service have close to iron rice bowls. Read properly.

[sogo]

I did not say ALL. I said MANY. And even many of those who are not in civil service have close to iron rice bowls. Read properly.

Outside private sectors dun have iron rice bowl one. Actually average salaries are how much only. Not really 20k like those edmw ppl are saying.

[Blasterlord2]

Outside private sectors dun have iron rice bowl one. Actually average salaries are how much only. Not really 20k like those edmw ppl are saying.

Got many. Maybe you dunno, but I know 

[sgh]

Got many. Maybe you dunno, but I know 

Black and white private sector companies but the founder are former govt ppl come out setup then bid govt project. These kind of private sector companies also close to iron rice bowl as govt project every year got and give some let them do. I work in those too. Their customer base is almost 100% govt despite they claim they also bid non-govt project but all cannot get

[happy]

wondering whether we will see the same saving interest rate soon

https://www.nas.gov.sg/archivesonline/po...50568939ad

[debono]

Black and white private sector companies but the founder are former govt ppl come out setup then bid govt project. These kind of private sector companies also close to iron rice bowl as govt project every year got and give some let them do. I work in those too. Their customer base is almost 100% govt despite they claim they also bid non-govt project but all cannot get

You mean that those who had worked in the govt. service, resign and open a contracting company and bid for govt. project....?

[sgh]

You mean that those who had worked in the govt. service, resign and open a contracting company and bid for govt. project....?

Yes indeed. Some are 'forced' as last time govt encourage entrepreneurship and in return in the setup early years 'give' them project do. Along the way they can then bid for private projects as private company. Lofty ideas but in reality all these spun off still rely exclusively on govt project to survive. Ppl long time in govt come out setup shop hard to thrive as their mindset trapped in those way of doing. Ppl with short stint in govt will succeed much better when they come out setup shop

[webinarian]

Don't be naive, high interest rates will not stay for 30 years. At most 2 years from now, interests rates will go back to 1-2%.

In 1982, the interest rate hit peak of 20%.  

.

[Levin]

1 million loans for condos are very common meaning alot of ppl are in such debts. So how to survived? Eat sweet potatoes?

Normalizing mah. Interest rates from 2008 onwards are actually abnormally low for too long.

You can check out the interest rates in the 1980s and 1990s.

[happy]

In 1982, the interest rate hit peak of 20%.  

.

Wow, that was almost double the highest POSB saving interest rate that i can recall.
https://www.nas.gov.sg/archivesonline/po...50568939ad

[watchfirst9]

Powell saying next time normal rates is 3-4%. So era of low rates is no longer here. First sinkies can tahan this few years or not?

I do not think they unable to push much higher.  
but if the Fed cannot deleverage faster, they may try to hold 
More will raise white flags next few yrs.

[ArielCasper]

Don't be naive, high interest rates will not stay for 30 years. At most 2 years from now, interests rates will go back to 1-2%.

Then must have enough bullets to tahan 2 yrs at high interest rate. Quite a number will not be able to make it

[debono]

I do not think they unable to push much higher.  
but if the Fed cannot deleverage faster, they may try to hold 
More will raise white flags next few yrs.

Next few years, surrender........?

[[[ForeverAlone]]]

So everyone works in civil service? And everyone dun have other commitments?

In fact quite a lot work as civil servants , this is why create a " culture of One simple job which 5 person oversee ??? "

This is why my idol Elon Musk claim too. One simple coding need 10 person to do it , so he sack those " extra ones "
and Do note civil servants wages and bonus July mid year and Year end bonus are from Public funds.

Money don't drop from sky , this is why Govt keep squeezing to top up the public funds

[debono]

In fact quite a lot work as civil servants , this is why create a " culture of One simple job which 5 person oversee ??? "

This is why my idol Elon Musk claim too. One simple coding need 10 person to do it , so he sack those " extra ones "
and Do note civil servants wages and bonus July mid year and Year end bonus are from Public funds.

Money don't drop from sky , this is why Govt keep squeezing to top up the public funds

No wonder COE and FW levy and maid levy is so high. also GST is going to 9%......