Without_a_car Clutched January 1, 2012 Share January 1, 2012 Saturday December 31, 2011 Developers ↡ Advertisement Link to post Share on other sites More sharing options...
Twinturbo Neutral Newbie January 1, 2012 Share January 1, 2012 Developers got to start losing money for me to believe. For are they recession proof? Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 1, 2012 Share January 1, 2012 Saturday December 31, 2011 Developers Link to post Share on other sites More sharing options...
Without_a_car Clutched January 1, 2012 Author Share January 1, 2012 Well done for Happy New Year joke/entertainment. Keep it up. Most people can only afford public housing through their entire working career. Less than 5% managed to go into private housing. I believe only a fraction of the 5% in private housing are on landed properties. Of course we are aware there are homeless people loitering around, too. A local University graduate told me he calculated that along his entire working career, he may only afford to get a 2nd HDB 5-room. That is all. The way I read it, Siah seems to be implying that developers were consulted before. Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 1, 2012 Share January 1, 2012 Developers got to start losing money for me to believe. For are they recession proof? You may be aware that during the year 2000 recession, a few did went bust. Example: the one that developed Langston Ville (residents demand to shift temple recently). At this moment, yet to notice any such. Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 1, 2012 Share January 1, 2012 The way I read it, Siah seems to be implying that developers were consulted before. Mah used to be Developer's pet (almost joined one of them during GCT's term as PM). Link to post Share on other sites More sharing options...
Without_a_car Clutched January 1, 2012 Author Share January 1, 2012 Mah used to be Developer's pet (almost joined one of them during GCT's term as PM). You think he will join board of directors of one developers when he retires from politics? Link to post Share on other sites More sharing options...
Voodooman Supersonic January 1, 2012 Share January 1, 2012 If FT stops coming, recession deepens and oversupply worsens, some of the smaller developers may go bust like in past economic cycles.... not all have deep pockets like FE. If you looks at recent bidders, the old seasonal hands are not aggressive anymore.... Link to post Share on other sites More sharing options...
KARTer 2nd Gear January 1, 2012 Share January 1, 2012 (edited) If FT stops coming, recession deepens and oversupply worsens, some of the smaller developers may go bust like in past economic cycles.... not all have deep pockets like FE. If you looks at recent bidders, the old seasonal hands are not aggressive anymore.... There are a few big boys in the circle of developers (a few are even linked to GIC/Temasek). Take a look at the list of top 10-20 richest men in sgp, you will notice many of them make their money through real estate business as developers / landlords. These are the big guns that control the market and during MBT's time made obsecenly 'good' money. WHo paid for the condos/houses they build? Ans:- Locals and some foriegners (latter more for highend properties). It's almost a 'common' dream/aspiration of current HDB flat owners to buy a private property one day. But unfortunately the dream is getting more remote each year as these big boys developers corner / control the market and 'provide ideas' to ex-minister.. (my suspicion only, to be corrected), all for one purpose only: maximise profits ie keep the prices going up....... and big boys will continue laughing to the banks... buyers will have to face increasing mortgate for the rest of their life. How to avoid (hopefully 'stop') such 'control / influence' enjoyed by the big boys? Two ways may be considered:- 1. Buyers stop aspiring to own private condos/houses and be contented with HDB flats. If demands drop, big boys will have to be careful before increasing prices. 2. Minister in charge stops 'consulting' developers in advance of policy changes etc and does what's good for the people, not the big boys. MBT has screwed things up, its about that time someone like KBW picks up the pieces and make good (which, I believe, he's trying to do now). Edited January 1, 2012 by KARTer Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged January 1, 2012 Share January 1, 2012 Hope that KBW doesn't ask us to buy HDB flat in KB can already. Link to post Share on other sites More sharing options...
2009k Neutral Newbie January 1, 2012 Share January 1, 2012 REDAS was not consulted doesn't mean that big developers and top pets never get the wind hor... Nice little advertisement piece, for govt to get some brownie points? Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 1, 2012 Share January 1, 2012 (edited) You think he will join board of directors of one developers when he retires from politics? Read many years back, GCT asked him to decided if he wanted to be GM for Far East or continue as Minister of Nataional Development. He quited to remain as Minister (no need for me to think) Edited January 1, 2012 by Good-Carbuyer Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 1, 2012 Share January 1, 2012 If FT stops coming, recession deepens and oversupply worsens, some of the smaller developers may go bust like in past economic cycles.... not all have deep pockets like FE. If you looks at recent bidders, the old seasonal hands are not aggressive anymore.... I believe most of them over-invested till near to tight cashflow. Link to post Share on other sites More sharing options...
KARTer 2nd Gear January 1, 2012 Share January 1, 2012 (edited) I believe most of them over-invested till near to tight cashflow. actually i have little sympathy for developers..... they chose to be in this line of business knowing full well the risks involved..... govt shouldnt give them the privilage/benefit of being 'consulted' for every moves govt makes :angry: Edited January 1, 2012 by KARTer Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 1, 2012 Share January 1, 2012 There are a few big boys in the circle of developers (a few are even linked to GIC/Temasek). Take a look at the list of top 10-20 richest men in sgp, you will notice many of them make their money through real estate business as developers / landlords. These are the big guns that control the market and during MBT's time made obsecenly 'good' money. WHo paid for the condos/houses they build? Ans:- Locals and some foriegners (latter more for highend properties). It's almost a 'common' dream/aspiration of current HDB flat owners to buy a private property one day. But unfortunately the dream is getting more remote each year as these big boys developers corner / control the market and 'provide ideas' to ex-minister.. (my suspicion only, to be corrected), all for one purpose only: maximise profits ie keep the prices going up....... and big boys will continue laughing to the banks... buyers will have to face increasing mortgate for the rest of their life. How to avoid (hopefully 'stop') such 'control / influence' enjoyed by the big boys? Two ways may be considered:- 1. Buyers stop aspiring to own private condos/houses and be contented with HDB flats. If demands drop, big boys will have to be careful before increasing prices. 2. Minister in charge stops 'consulting' developers in advance of policy changes etc and does what's good for the people, not the big boys. MBT has screwed things up, its about that time someone like KBW picks up the pieces and make good (which, I believe, he's trying to do now). I am surprised if you really trust someone who just absconded from another ministry due to negligence or otherwise. The elderly nursing care he failed to managed, now trying something new due to the amount of money involved. He got the same look as Teh Cheng Wan You may be aware of his body language Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 1, 2012 Share January 1, 2012 REDAS was not consulted doesn't mean that big developers and top pets never get the wind hor... Nice little advertisement piece, for govt to get some brownie points? You got the point. Big developers likely to have MP malingering as Director in their organisation. Thats the reason for the government to pressure smaller industries to merge, in order to employ MP as Director. Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 1, 2012 Share January 1, 2012 (edited) actually i have little sympathy for developers..... they chose to be in this line of business knowing full well the risks involved..... govt shouldnt give them the privilage/benefit of being 'consulted' for every moves govt makes :angry: Are you cheering us up with some Happy New Year jokes? You may be aware that some MPs among their Directors The can I say poor sympathise with the rich? Edited January 1, 2012 by Good-Carbuyer Link to post Share on other sites More sharing options...
KARTer 2nd Gear January 1, 2012 Share January 1, 2012 I am surprised if you really trust someone who just absconded from another ministry due to negligence or otherwise. The elderly nursing care he failed to managed, now trying something new due to the amount of money involved. He got the same look as Teh Cheng Wan You may be aware of his body language Not too sure lah, at least he speeds up construction of HDB flats, put in rules to cool down the property market etc etc.... but maybe its still too early to judge. I am not familiar with public health issues, most likely he has unfinished business and he should have stayed on to fix them before moving on the MND.... ↡ Advertisement Link to post Share on other sites More sharing options...
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