Page 2 of 5 FirstFirst 1234 ... LastLast
Results 21 to 40 of 98

Thread: Singapore is living on debt

  1. #21
    Moderator daredevil123's Avatar
    Join Date
    Oct 2005
    Location
    lil red dot
    Posts
    21,627
    Blog Entries
    1

    Default Re: Singapore is living on debt

    Rich Dad Poor Dad became best seller only because he aligned himself with MLMs in the US. And most MLMs made it required reading for their members.

  2. #22
    Senior Member Big Kahuna's Avatar
    Join Date
    Dec 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    2,127

    Default

    They r so many suckers in newspapers ads to teach u how to get rich....one s3lf made a million dollar and then decided to just to come Singaoore to make you another millionaire, she work not because she wanted but because she can.....

  3. #23

    Default Re: Singapore is living on debt

    main stream media just declared that banks are strong ... so people can borrow more

    Quote Originally Posted by diver-hloc View Post
    I believe Moody is warning about this issue... over borrowing to buy property...

  4. #24

    Default

    Today ST paper so big wants to sell their mall into REIT (transfer risk to us), I think bank no more $ to borrow them already, so interest rate sure to go up soon.
    | 5Diii | 24 ii | 40 | 24-70 ii | 24-105 | 70-200 F4 IS | 270 ii | 600EX-RT |

  5. #25

    Default Re: Singapore is living on debt

    Quote Originally Posted by daredevil123 View Post
    Rich Dad Poor Dad became best seller only because he aligned himself with MLMs in the US. And most MLMs made it required reading for their members.
    oh that book! when it was out, everyone is talking abt it, as if if u don't read, u r condemned.. and now those friends of mine who read it, they are still on debts for their pigeon holes..

  6. #26
    Senior Member UncleFai's Avatar
    Join Date
    Mar 2010
    Location
    Singapore
    Posts
    4,429

    Default Re: Singapore is living on debt

    Quote Originally Posted by ahboy168 View Post
    Today ST paper so big wants to sell their mall into REIT (transfer risk to us), I think bank no more $ to borrow them already, so interest rate sure to go up soon.
    Already on the way up...

    Banks increase fixed-rates for home loans

  7. #27
    Moderator diver-hloc's Avatar
    Join Date
    Apr 2007
    Location
    Somewhere North
    Posts
    5,201

    Default Re: Singapore is living on debt

    Quote Originally Posted by keiser View Post
    main stream media just declared that banks are strong ... so people can borrow more

    The Bank is strong ... but is your ability of repayment just as strong ??


    Quote Originally Posted by sfoto100 View Post
    oh that book! when it was out, everyone is talking abt it, as if if u don't read, u r condemned.. and now those friends of mine who read it, they are still on debts for their pigeon holes..

    Never even heard of this book before... I must be beyond condemned....

    Scuba & Father... For Life

  8. #28

    Default

    Now you know why g wants COE to be so high. It acts as a "security deposit" for bank in cases u can't service the loan. Who owns the banks here ? Think ...
    | 5Diii | 24 ii | 40 | 24-70 ii | 24-105 | 70-200 F4 IS | 270 ii | 600EX-RT |

  9. #29
    Moderator diver-hloc's Avatar
    Join Date
    Apr 2007
    Location
    Somewhere North
    Posts
    5,201

    Default Re: Singapore is living on debt

    Quote Originally Posted by ahboy168 View Post
    Now you know why g wants COE to be so high. It acts as a "security deposit" for bank in cases u can't service the loan. Who owns the banks here ? Think ...

    Any prove ?? Or does conspiracy theory make it real ??

    Scuba & Father... For Life

  10. #30

    Default Re: Singapore is living on debt

    if borrowers repayment not strong ... then banks also not so strong right?

    Quote Originally Posted by diver-hloc View Post
    The Bank is strong ... but is your ability of repayment just as strong ??

  11. #31
    Moderator diver-hloc's Avatar
    Join Date
    Apr 2007
    Location
    Somewhere North
    Posts
    5,201

    Default Re: Singapore is living on debt

    Quote Originally Posted by keiser View Post
    if borrowers repayment not strong ... then banks also not so strong right?

    True only if 50%-60% of borrower unable to repay loan.... BUT, lets just say 99% of borrower has no problem repaying.... but you are in the 1% that have problem due to over extension/spending... The Bank is not in trouble... but you are in deep 'sheep'.

    Therefore... worry not is the bank having lots of bad debt... worry more if you are over extended on your loan.

    Scuba & Father... For Life

  12. #32

    Default

    If you can't pay the loan the bank will just repo your condo or House and sell it for much more profit then the interest it is going to generate. If its a HDB flat then the HDB will do the same to you and offer you a rental flat if you are qualify or lucky.
    Canon 30D, G11, 50 f1.8II, 10-22 f3.5-4.5, 24-70 f2.8L, 70-200 f2.8L IS, EX580II

  13. #33

    Default

    Quote Originally Posted by airfins View Post
    If you can't pay the loan the bank will just repo your condo or House and sell it for much more profit then the interest it is going to generate. If its a HDB flat then the HDB will do the same to you and offer you a rental flat if you are qualify or lucky.
    Except for car, which is a depreciation asset.
    Bank will loss money even they take you car away and try to resell it. Holding it is not an option as well.
    | 5Diii | 24 ii | 40 | 24-70 ii | 24-105 | 70-200 F4 IS | 270 ii | 600EX-RT |

  14. #34
    Member
    Join Date
    Oct 2008
    Location
    Singapore
    Posts
    106

    Default

    Quote Originally Posted by ahboy168 View Post

    Except for car, which is a depreciation asset.
    Bank will loss money even they take you car away and try to resell it. Holding it is not an option as well.
    Based on new car loan restrictions, banks are protected, the entire risk is shoved to buyer.

    My estimate is loan amount < unused COE value + refundable ARF/PARF/BARF/... , which is all guaranteed refund by govt if car is scrapped. Banks get their money back, buyer gets crap.
    D800 | N 50/1.8G | N 24-70/2.8G | T 150-600VC | S 35/1.4DG

  15. #35

    Default Re: Singapore is living on debt

    Quote Originally Posted by sfoto100 View Post
    oh that book! when it was out, everyone is talking abt it, as if if u don't read, u r condemned.. and now those friends of mine who read it, they are still on debts for their pigeon holes..
    actually, I thought almost everyone made money from property since it was going up the past few years....

  16. #36

    Default Re: Singapore is living on debt

    Quote Originally Posted by dniwkh View Post
    actually, I thought almost everyone made money from property since it was going up the past few years....
    but they still need to take a bank loan to finance their purchases anyway

  17. #37

    Default Re: Singapore is living on debt

    Quote Originally Posted by kei1309 View Post
    but they still need to take a bank loan to finance their purchases anyway
    yeah.. but that doesn't matter as long they're making money as the cat said earlier
    they have positive cash flow.. plus the asset inflation, driven by property bubble
    now its just a matter of soft landing (cooling measures).. or bubble burst

  18. #38

    Default Re: Singapore is living on debt

    Quote Originally Posted by airfins View Post
    If you can't pay the loan the bank will just repo your condo or House and sell it for much more profit then the interest it is going to generate. If its a HDB flat then the HDB will do the same to you and offer you a rental flat if you are qualify or lucky.
    if only you can't pay the loan, then bank can sell your house for profit. but if a lot can't pay, that means the economics is bad, bank can't get a good price for those houses they repo. banks will be in deep sheet, too.

  19. #39

    Default

    Quote Originally Posted by hanzohattori View Post

    yeah.. but that doesn't matter as long they're making money as the cat said earlier
    they have positive cash flow.. plus the asset inflation, driven by property bubble
    now its just a matter of soft landing (cooling measures).. or bubble burst
    I'm explaining that that's why there is too much debt. You make money, but the money loaned from the bank is a debt to them.

  20. #40

    Default Re: Singapore is living on debt

    just be careful.

    China Mainland is going to try avoiding hard landing. Too much credit, too loose procedures, hot $ seeking hot asset in Mainland, many expensive apts empty even though they are sold off to investors already. Shanghai had a huge shock just a few weeks back and the monetary authorities had to come out to calm things down.

    If Sg is living on debt, Mainland China is in danger of dying in it.
    宁愿遇见丢失幼崽的母熊,也不愿碰上做蠢事的愚人

Page 2 of 5 FirstFirst 1234 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •