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Thread: Singapore is living on debt

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  2. #2

    Default Re: Singapore is living on debt

    Wait for the bubble to burst.. then buy property

  3. #3
    Moderator ed9119's Avatar
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    Default Re: Singapore is living on debt

    Saudi Arabia aside .... which country does not live in debt ?
    shaddap and just shoot .... up close
    Walkeast

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    Member 9V-Orion Images's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by ed9119 View Post
    Saudi Arabia aside .... which country does not live in debt ?
    Brunei?
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    Per aspera ad astra

  5. #5

    Default Re: Singapore is living on debt

    I think the point is property debt is not productive in a way..

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    Moderator diver-hloc's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by hanzohattori View Post
    I think the point is property debt is not productive in a way..

    If you have the abilities to pay everything in one lump sum... who's stopping you ??

    For mere mortals like the majority of us... loaning from Govt or Banks is the only way to go. Debt by itself isn't really a bad thing... its borrowing way beyond your ability and/or overspending that is the main problem.

    Example - Borrowing huge amount from bank to buy Condo for 'Investment'... with the hope that by renting out the condo, could cover part or all of the bank loan... but should the market crash, as some people hoped... this are the people that will most be affected, along with the Bank. See US Subprime Mortgage Crisis - https://en.wikipedia.org/wiki/Subprime_mortgage_crisis.

    My own example...

    No Car Loan (because I don't think I need a car nor afford one)
    No (extra) Housing Loan for investment
    No Credit Card Loan (thank god I could control my spending)
    No Credit Card Debt (saw real life example of how credit card debt destroy families... in the form of my father)

    HDB loan (currently, still owe $17+K, with $5+K in my CPF).. Again, no way I could afford my own place without taking up this debt.

    Scuba & Father... For Life

  7. #7

    Default Re: Singapore is living on debt

    Quote Originally Posted by diver-hloc View Post
    If you have the abilities to pay everything in one lump sum... who's stopping you ??

    For mere mortals like the majority of us... loaning from Govt or Banks is the only way to go. Debt by itself isn't really a bad thing... its borrowing way beyond your ability and/or overspending that is the main problem.

    Example - Borrowing huge amount from bank to buy Condo for 'Investment'... with the hope that by renting out the condo, could cover part or all of the bank loan... but should the market crash, as some people hoped... this are the people that will most be affected, along with the Bank. See US Subprime Mortgage Crisis - https://en.wikipedia.org/wiki/Subprime_mortgage_crisis.

    My own example...

    No Car Loan (because I don't think I need a car nor afford one)
    No (extra) Housing Loan for investment
    No Credit Card Loan (thank god I could control my spending)
    No Credit Card Debt (saw real life example of how credit card debt destroy families... in the form of my father)

    HDB loan (currently, still owe $17+K, with $5+K in my CPF).. Again, no way I could afford my own place without taking up this debt.
    yup. greed leads people to do things, as well as hopes of a "better life".

    as for me, i better start planning because when i hit 30 my mum will kick me out of the house

  8. #8

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    Quote Originally Posted by kei1309 View Post

    yup. greed leads people to do things, as well as hopes of a "better life".

    as for me, i better start planning because when i hit 30 my mum will kick me out of the house
    You can live in Starbucks outlet

  9. #9

    Default Re: Singapore is living on debt

    Quote Originally Posted by hanzohattori View Post
    I think the point is property debt is not productive in a way..
    it is good debt if your property can be rented out and have a positive cashflow when the rental exceeds bank installments.
    Then can take the positive cashflow and pay for another...and another...and another. Rich Dad Poor Dad style.
    宁愿遇见丢失幼崽的母熊,也不愿碰上做蠢事的愚人

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    Moderator diver-hloc's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by Shizuma View Post
    it is good debt if your property can be rented out and have a positive cashflow when the rental exceeds bank installments.
    Then can take the positive cashflow and pay for another...and another...and another. Rich Dad Poor Dad style.

    I believe Moody is warning about this issue... over borrowing to buy property...

    Scuba & Father... For Life

  11. #11

    Default Re: Singapore is living on debt

    That means too many ppl read Robert Kiyosaki.. lol

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    Member 9V-Orion Images's Avatar
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    Default Re: Singapore is living on debt

    It's OK, can always "print more money" and label the term "Quantitive Easing" for it.
    Last edited by 9V-Orion Images; 16th July 2013 at 03:30 PM.

  13. #13

    Default Re: Singapore is living on debt

    People nly find ways to get in but never consider how they can get out.

  14. #14
    Senior Member Big Kahuna's Avatar
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    Default

    When many people cannot affort a home or rented one.....that's when the problem arise....at this moment.....still hard to see that....thats why gov have so many cooling measures......but that's is only temporary. ...people with spare cash will buy property in neighbouring country.....so better start earlier if u can....ii missed out so many and I won't want to look back when I am 60 and say....I should have done this or dine that

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    Default Re: Singapore is living on debt

    Don't anyhow buy property overseas. It can be a snake pit.

    Don't anyhow buy local private property if you cannot afford it.

    Have met too many yaya people who boast and act like they can afford to buy various condos here and there.

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    Moderator daredevil123's Avatar
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    Default Re: Singapore is living on debt

    Quote Originally Posted by Shizuma View Post
    it is good debt if your property can be rented out and have a positive cashflow when the rental exceeds bank installments.
    Then can take the positive cashflow and pay for another...and another...and another. Rich Dad Poor Dad style.
    Do you want to know how Kiyosaki made his money?

    Personally, I think he is BS.

  17. #17

    Default Re: Singapore is living on debt

    Quote Originally Posted by daredevil123 View Post
    Do you want to know how Kiyosaki made his money?

    Personally, I think he is BS.
    rich people will never share much on how they got rich...

    but to get even richer they'll print books on "how to get rich" and people will snap them up quickly to learn how to get rich too.

    and that's how he got richer

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    Senior Member UncleFai's Avatar
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    Quote Originally Posted by kei1309 View Post

    rich people will never share much on how they got rich...

    but to get even richer they'll print books on "how to get rich" and people will snap them up quickly to learn how to get rich too.

    and that's how he got richer
    This guy? Scam lah...

    http://www.cbsnews.com/8301-505143_1...krupt-company/

  19. #19
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    Default Re: Singapore is living on debt

    Quote Originally Posted by daredevil123 View Post
    Do you want to know how Kiyosaki made his money?

    Personally, I think he is BS.
    Kiyosaki is a load of nonsense.

  20. #20

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    Quote Originally Posted by ricohflex View Post

    Kiyosaki is a load of nonsense.
    Have you read your own posts?

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