How low will COE go?

[Wyfitms]

Spot on. Many colleagues are buying bigger cars than mine - at a younger age and lower income. I wonder how much they save up for retirement each month.

 

car is just a relatively small expense. Housing is worse.

 

Many ppl out there are technically bankrupt just by buying a house. Dun even need to talk abt car.

 

a typical HDB is around 500K. A typical couple will need to use all their CPF to finance the mortgage (sometimes still have to top with up cash).

 

Those that earn more than 10K will typically go for condo. Suburban now smelly smelly also $1m. Lagi worse.

 

I think in SG, retirement for most ppl (our generation) is to go and collect cardboard boxes. Even then, dunno whether got any buyers for these boxes or not..

[Cars08]

car is just a relatively small expense. Housing is worse.

 

Many ppl out there are technically bankrupt just by buying a house. Dun even need to talk abt car.

 

a typical HDB is around 500K. A typical couple will need to use all their CPF to finance the mortgage (sometimes still have to top with up cash).

 

Those that earn more than 10K will typically go for condo. Suburban now smelly smelly also $1m. Lagi worse.

 

I think in SG, retirement for most ppl (our generation) is to go and collect cardboard boxes. Even then, dunno whether got any buyers for these boxes or not..

 

I think this is a personal choice no right or wrong...some prefer to buy a smaller flat...n be happy about it that they can see the title deed...some maybe till the day they die will not get to see the title deed...it is ultimately a choice n whether you buy into the story that earning 10K/12k and above should go for pte housing... garment set the guide/rule, it is up to u whether u wanna take the bite...nobody is telling u confirm no problem...even when it is mentioned 2K can get u a house, wld u wan to do it? y do u wan to do it? can u see to the end of it? is this what we meant by prudent? it is really how much story u wanna take in n believe in it... I prefer to hv my own tots...what the garment says, take it w a pinch of salt...

 

 

[Leepee]

This is what was drummed into my head.

Housing is appreciating asset.

By Retirement age, can do a reverse mortgage to cash out the property value.

 

[Kangadrool]

This is what was drummed into my head.

Housing is appreciating asset.

By Retirement age, can do a reverse mortgage to cash out the property value.

 

Because of this, we need to import more foreigners to soak up housing supplies after one has been called home with the lord. Otherwise, everything collapse. 6.9million Huat arhhhhh.

[Duckduck]

This is what was drummed into my head.

Housing is appreciating asset.

By Retirement age, can do a reverse mortgage to cash out the property value.

 

Freehold yes leasehold good luck

[Wt_know]

isn't weekend newspaper got an article that "property" is not a sure win bet liao ....

[Wyfitms]

I think this is a personal choice no right or wrong...some prefer to buy a smaller flat...n be happy about it that they can see the title deed...some maybe till the day they die will not get to see the title deed...it is ultimately a choice n whether you buy into the story that earning 10K/12k and above should go for pte housing... garment set the guide/rule, it is up to u whether u wanna take the bite...nobody is telling u confirm no problem...even when it is mentioned 2K can get u a house, wld u wan to do it? y do u wan to do it? can u see to the end of it? is this what we meant by prudent? it is really how much story u wanna take in n believe in it... I prefer to hv my own tots...what the garment says, take it w a pinch of salt...

 

Yes, there are some prudent ppl like yourself. But that's minority. Buying a hse is very much herd instinct.

 

From young we have been told that pte > HDB.

 

So for a couple that makes 10K. They can either get a 5-rm resale at $600K + $50k COV. Or an EC that will cost abt $900K after all the grants etc.

 

Difference of 250K only and they get to enjoy pte facilities + new hse instead of a old resale flat.

 

Also, they may not have the cash to pay COV. So EC is another further attraction.

 

Can;t blame the majority from choosing pte, all thanks to HDB for allowing prices to escalate the way it did over last 5 yrs.

[Kiadaw]

isn't weekend newspaper got an article that "property" is not a sure win bet liao ....

If property market crush, I think our economy will go down the drain, as so many people are so reliance on properties. Maybe in desperate times, we will even pressure Goverment to bring in more immigrants to boost properties price!

[Shibadog]

yalor ... 10 years ago late 20s early 30s first car is civic, corolla, suzuki, mitsubishi

now first car smelly smelly golf gti, bmw 316/320, merc c180/c200, a1/a4

dun play play ... time has changed

 

 

perhaps newer generations are improving quality of life based on larger debt ratio?

 

even if it's a case where papa-mama help out with finance (think million $ EC), i am not sure if it bodes well for the future of this generation and those to come.

[Roh96]

Cannot keep comparing 10-20yrs ago time. We got to admit that these generation youngsters(born after 80s) mostly have 2 working parents. Naturally they can afford more for their children, help them in buying their first car, buying their first house, wedding etc.. Don't keep lamenting on this. We don't have such luxury doesn't mean others should not have. It is their money and their choice, and i trust most ppl have the basic knowledge of financial prudency. They are not stupid lah, why worry for them? More importantly, worry for ourselves.

[Caravan]

Because of this, we need to import more foreigners to soak up housing supplies after one has been called home with the lord. Otherwise, everything collapse. 6.9million Huat arhhhhh.

 

population ponzi scheme indeed.

[Shibadog]

population ponzi scheme indeed.

 

 

not only that. We also need more FTs to build the houses for the current 5+mil and the 2030 6.9mil target. Oops it's not a target, just a planning parameter.

 

sorry for OT.

[Orangewarning]

o.O Actually this new measure is quite good, it may be more effective than COE if you look at it.. This would stop those people who don't save up from buying a car. If you want to buy a car, save up. Not go a max out a 10 year loan and then finding yourself strapped of cash in the future.. Worse thing a car's value is depreciating. Its because of this type of people who don't have ability to buy car, then loan so easy get, of course so many people buy lah.. With so many taking loans to buy cars, the demand for COE goes up, and coe price increases.. Then what happens? People still kay kiang go and take loans to buy, in the end default loan payments.. With this loan nonsense controlled, less people will be able to afford cars, and mean less people will buy cars which means number of vehicles controlled. But then COE still keep lah, later dunno why ah, tommie goh or something suddenly want to donate cars to the poor or something, so COE is still important.. Whatever it is, COE better drop, Hoping Cat A go below 60K.. This loan curb is actually quite timely, don't you think? the march coe might hit 100K for Cat B if this curb is not introduced. But seriosly lah, those dealership why all bodoh one.. go and form alliance all bid $1000 or something lah, siao sia.. COE cat B 93K walao.. Confirm got alot idiots bid more thank 100k one.. COE DROP LOW LOW THE BEST.. I suggest government create new COE system.. no more packages from dealerships.. buy COE is TOTO style, other ppl play toto to win big bucks, you play toto to win coe.. Good right? Healthy gambling somemore, no temptation to win more, cause even if you win more, you might not afford the car anyway.. lol

[Chucky2007]

This is what was drummed into my head.

Housing is appreciating asset.

By Retirement age, can do a reverse mortgage to cash out the property value.

Can't do that if the property is a hdb flat..

[Chucky2007]

Freehold yes leasehold good luck

If u can rent out the leasehold for 50k a month... After 20 years it's 1mililion. Even if the leasehold property today cost $1mil and cost 500k 20years later bec left 50year lease left.. Still better than not buying anything. It's location location location for property in Singapore. Whether is it freehold or leasehold depends on individual budget. For rental purpose, I would rather buy leasehold at a better location, than to buy a freehold at another not so good location... Oops.. oT Liao.

[Chucky2007]

If property market crush, I think our economy will go down the drain, as so many people are so reliance on properties. Maybe in desperate times, we will even pressure Goverment to bring in more immigrants to boost properties price!

SG got 7 cooling measures in place.. They just take out the cooling measures and may resolve in faster time. This time, SG is much more prepared than 1997

[Christian10]

I really wonder how low COE goes after the first tender

[JJ_JJ]

i assume you are quite old but yet i find this post of yours super redundant and meaningless

 

everything (save for natural disasters and alien invasions) that happened is of course brought about by ourselves, even WWI, WWII etc...

[/quote

 

Agree with you, Inflation works like a 2 edged sword....it cuts both ways; more often than not, inflation could be manipulated and consumers/subjects are forced to accept it whether they like/want it or not.

 

e.g. Inflated economics affect all the different financial clusters of people; may them be "poor" or "rich".

 

None of us here like it anyway. Bighero, perhaps what you mean is we get to choose what to spend on and thus limit the Inflation impact on ourselve....but honestly speaking, who can Escape from it totally??