My guess is 5% alot will be struggling.
No lah, will never break. Many buyers are couples who are both civil servants. Iron rice bowl.
(18-11-2022, 06:31 PM)Blasterlord2 Wrote: [ -> ]No lah, will never break. Many buyers are couples who are both civil servants. Iron rice bowl.
Seriously. I dun know anyone in my circle that are doing govt jobs. Haha
(18-11-2022, 07:02 PM)sogo Wrote: [ -> ]Seriously. I dun know anyone in my circle that are doing govt jobs. Haha
lol they just waiting for year end bonus as usual song song already took July mid year bonus
next year recession also got
(18-11-2022, 07:04 PM)[[ForeverAlone]] Wrote: [ -> ]lol they just waiting for year end bonus as usual song song already took July mid year bonus
next year recession also got
U sure everyone is civil servants meh?
(18-11-2022, 07:11 PM)sogo Wrote: [ -> ]U sure everyone is civil servants meh?
Many of them. I have many friends around me who are either public servants or have jobs that are close to iron rice bowl.
(18-11-2022, 08:47 PM)Blasterlord2 Wrote: [ -> ]Many of them. I have many friends around me who are either public servants or have jobs that are close to iron rice bowl.
Even civil servants now also contract jobs. Does not mean they will keep u hired forever like ur rsm era
During the 2008 financial crisis, many fall at 7.2% including biz tycoons.
hitting 5% soon... likely be dec 2022
(18-11-2022, 08:56 PM)sogo Wrote: [ -> ]Even civil servants now also contract jobs. Does not mean they will keep u hired forever like ur rsm era
Those are the newer jobs, but will also be converted to permanent after one or two years.
I was listening top gun talk
FD 4% for next 2 yrs at least
(18-11-2022, 09:12 PM)Blasterlord2 Wrote: [ -> ]Those are the newer jobs, but will also be converted to permanent after one or two years.
Those on contract cannot convert to permanent. They can only apply to any job opening within the organisation. He has to go through interviews and the whole selection process. Past few years many departments have their headcount freeze. They can only hire when there is someone resign.
The rental income is quite good now. As long as this is enough cover the mortgage repayment, the property market will not crash.
(18-11-2022, 09:25 PM)Clyde Wrote: [ -> ]Those on contract cannot convert to permanent. They can only apply to any job opening within the organisation. He has to go through interviews and the whole selection process. Past few years many departments have their headcount freeze. They can only hire when there is someone resign.
Not true lah. I know some who got converted to permanent. For example, this is advertised by HTX (home team):
"All new appointees will be appointed on a two-year contract in the first instance."
After the two-year period, after they deem that your work is up to standard, you will be converted to permanent.
(18-11-2022, 09:29 PM)Clyde Wrote: [ -> ]The rental income is quite good now. As long as this is enough cover the mortgage repayment, the property market will not crash.
That is when jobs are still plenty. Recession coming very soon.
(18-11-2022, 09:13 PM)Talent Wrote: [ -> ]I was listening top gun talk
FD 4% for next 2 yrs at least
4% only? I was expecting 5%
You be surprised that many mid 20 to early thirties are earning 8-10k above.
Many will be OK except the 2-3%
(18-11-2022, 09:41 PM)Blasterlord2 Wrote: [ -> ]Not true lah. I know some who got converted to permanent. For example, this is advertised by HTX (home team):
"All new appointees will be appointed on a two-year contract in the first instance."
After the two-year period, after they deem that your work is up to standard, you will be converted to permanent.
Home team has difficulty hiring people. They do many background checks including your past few generations. If you own more than one companies and your son is applying a job there, they want to know if you are doing something sinister. The salary there is only $1000 more than other ministries. Feel like losing all my privacy if my son works there. Your whole family would be monitored by them.
(18-11-2022, 10:12 PM)Clyde Wrote: [ -> ]Home team has difficulty hiring people. They do many background checks including your past few generations. If you own more than one companies and your son is applying a job there, they want to know if you are doing something sinister. The salary there is only $1000 more than other ministries. Feel like losing all my privacy if my son works there. Your whole family would be monitored by them.
Difficulty hiring not because of the background checks but because the probation period is two years. Most sinkies dun really bother about the checks unless you have things to hide.
interest rate is only one of factors affecting demand.
like china now trying to create demand so they squeeze demand by lowering deposit requirements etc.
but really if the expectations is fear of price dropping further and non delivery of house etc , it will be a difficult task to squeeze out demand. if they have do some thing that will give all an impression that supply will be limited until current stock is cleared then some demand will appear. in fact if there is a common expectations that prices will raise that will create lot of demand.
(18-11-2022, 09:56 PM)sogo Wrote: [ -> ]4% only? I was expecting 5%
means mortgage capped at 5%
(18-11-2022, 10:37 PM)Talent Wrote: [ -> ]means mortgage capped at 5%
No lah mortgage will be 6%
(18-11-2022, 09:57 PM)Niubee Wrote: [ -> ]You be surprised that many mid 20 to early thirties are earning 8-10k above.
Many will be OK except the 2-3%
Can earn is earn but doesn't mean can keep jobs during recession
(18-11-2022, 10:41 PM)sogo Wrote: [ -> ]No lah mortgage will be 6%
(18-11-2022, 10:41 PM)sogo Wrote: [ -> ]Can earn is earn but doesn't mean can keep jobs during recession
Mortgage at 6% is about right, cos FD for banks is around 4% and banks needs to make a profit. Also during a recession, there is no guarantee that one can keep their job....
(18-11-2022, 10:16 PM)Blasterlord2 Wrote: [ -> ]Difficulty hiring not because of the background checks but because the probation period is two years. Most sinkies dun really bother about the checks unless you have things to hide.
Wasn't told there is a 2 years probation. After went through many rounds of interviews, iq and psychology tests, he turned down the offer.
Anyway this 2 years probation is different from those 9 months or one year contract work. The directors who conducted the interview make it very clear when the contract ends, his job ends there.
(18-11-2022, 10:54 PM)Clyde Wrote: [ -> ]Wasn't told there is a 2 years probation. After went through many rounds of interviews, iq and psychology tests, he turned down the offer.
Anyway this 2 years probation is different from those 9 months or one year contract work. The directors who conducted the interview make it very clear when the contract ends, his job ends there.
These days many jobs are on a contract basis, and depending on one's performance, he/she can be considered as permanent staff......
(18-11-2022, 06:31 PM)Blasterlord2 Wrote: [ -> ]
No lah, will never break. Many buyers are couples who are both civil servants. Iron rice bowl.
You are right.
More and more civil servants drive car and buy bigger HDB flat, EA or EC
If both couple are working as civil servant, and each gets $6k and above monthly
Pay revision and promotion are more frequently than previous govt Many PG and MG are hardly have a car. Those days hardly have many govt subsidises.
(18-11-2022, 10:59 PM)debono Wrote: [ -> ]These days many jobs are on a contract basis, and depending on one's performance, he/she can be considered as permanent staff......
He needs to wait for job opening and go through the application process. And many other temp staff are also waiting. If you have good performance record will help.you land the job.
(18-11-2022, 10:51 PM)debono Wrote: [ -> ]Mortgage at 6% is about right, cos FD for banks is around 4% and banks needs to make a profit. Also during a recession, there is no guarantee that one can keep their job....
I think fd will reach 4.5-5%. borrowing will be 6%. Seen so many earning alot but living paycheck to paycheck. They wanna enjoy life. Iphone driving etc.
(18-11-2022, 08:56 PM)sogo Wrote: [ -> ]Even civil servants now also contract jobs. Does not mean they will keep u hired forever like ur rsm era
As long as no major mistake, you can be employed till 70 years old for division 2 and below.
The first 2 years you are on probation,
later absorb into permanent scheme, so called iron rice ball provided your performance is average or above average.