I am writing this blog post for a minority group in our society – the unfortunate owners of private homes. Their number is not small but their voices are not heard. You might say: But these people have money to buy private properties. Most of us can’t afford to live in condos. Some of us don’t even have an HDB flat under our name. Compared with us, their problems are not … [Read more...]
What did deflation of China’s property bubble tell us
Investors are holding their breath as the world witness the gigantic China property bubble deflate. Last week all eyes are on Evergrande to see whether China’s most indebted developer will default. The company is due to pay US$83.5 million in interest on September 23 and another US$47.5 million on September 29. It is nothing but a dead cat bounce A day before the … [Read more...]
Panic buying of homes out of FOMO
Panic buying in a perceivable crisis under the out-of-stock fear is real. Hideko Yamashita (山下秀å), the famous advocate of danshari (æ–æ¨é›¢), once handled an extreme case of hoarding. An elderly woman lived alone with over 200 rolls of toilet paper in her … [Read more...]
What rental viewings told me about the leasing market
My long-time friend was recently relocated to Singapore a second time. When her stay home notice ended, I tagged along with her to go for rental viewings. We shortlisted many one and two-bedroom units that met her budget and criteria. They were all in prime districts, from Newton, Orchard, River Valley, and all the way to Marina Bay. Since she is not driving, we decided … [Read more...]
Why we only buy when prices are high
The title of this blog post is not meant to be sarcastic. It is about human nature to follow the herd, especially the irrational urge to buy something when prices are high. A second-hand HDB home for over a million? Our local media have the tendency to report properties that were recently sold at an unbelievably high price. Or the purchase price had just set a new … [Read more...]