How much is your outstanding housing loan?

[Ho2786]

going to be out of job soon

will government pay my housing loan ?

[Angcheek]

13 minutes ago, steveluv said:

I don’t own any property as I rent 

 

i also rent from ah long 😁

[Showster]

1 hour ago, Angcheek said:

 

I think only Fed or IMF can offer free money . anyway , they produce money out of thin air ....... MAGIC ! 😂 I wish I can do that too. 

This time is waste than 08 some said ... US now is waste off than the Great Depression.  

  

 

 

Fed prints money from new debts. SG Govt produces money from savings to support jobs (25-75% direct subsidy; more than double the 500m for wage increases). 

Pay below 1.5% interest rate very shiok le (mine currently even lower than that). Overall has been about 1.6-1.7% for the last 8 years. Don’t need to be so greedy bah.

 

[Throttle2]

Have a friend who made a lot of money since 2010 becos he bought many bonds and the FI market just continue going up in the last ten years.

he started to think that its so easy to make money by using loans to buy bonds.  So he doubled up and for the last 10 yrs i hv been telling him not to overdo it. 

Even if something is super good and delicious, overeating it will cause you serious problems. Choke, vomit, etc....

Unfortunately he didnt listen, and didnt get out.

Now he is facing a complete loss of his entire portfolio worth about $80mil with  his originally profitable business likely to see losses in the weeks and months to come weighing down on him further.  

I asked him to thin out early March. Keep his profits, can fight again.  Sure i lost a few fingers myself, but he has lost all his limbs by now.  I feel sorry for him but on the other hand, someone has to pay for greed and complacency.

sigh..........

 

[Volvobrick]

Leveraging..... Doubling your returns, or bankrupting you! 

Just invest with cash, especially cash you can afford to lose without affecting your lifestyle and family. 

[Showster]

1 hour ago, Throttle2 said:

Have a friend who made a lot of money since 2010 becos he bought many bonds and the FI market just continue going up in the last ten years.

he started to think that its so easy to make money by using loans to buy bonds.  So he doubled up and for the last 10 yrs i hv been telling him not to overdo it. 

Even if something is super good and delicious, overeating it will cause you serious problems. Choke, vomit, etc....

Unfortunately he didnt listen, and didnt get out.

Now he is facing a complete loss of his entire portfolio worth about $80mil with  his originally profitable business likely to see losses in the weeks and months to come weighing down on him further.  

I asked him to thin out early March. Keep his profits, can fight again.  Sure i lost a few fingers myself, but he has lost all his limbs by now.  I feel sorry for him but on the other hand, someone has to pay for greed and complacency.

sigh..........

 

Me too. Only a tiny handful believed my proposition for the interest rate direction and investment property. I projected interest rate of 2% for the long haul and I was told I needed to factor it in as 4% or more. By the time we really reach 4%, I would have either redeemed all my mortgages or returned IC.

Even those who bought private, a vast majority did it through upgrading (so not effectively investment). But those tiny minority who did and braved through, it’s really the best time ever for us now.

Just continue to watch the confusion unfolding all around for the next two years!

[Showster]

Between investments in bonds, equities and real estate, I feel that those in real estate work the hardest, but are also the most stably rewarded (only for SG market).

[Angcheek]

I think US property market may go thru another round of turmoil 

[Davidklt]

Like what T2 said, paying off housing loans is not  just a numbers and interest game.

It is also a signal to your family that you are taking care of them. In the event that there are any turmoil or you would not be around, they have a roof over their heads and housing loans would be the least of their and your worries.

Even if you have excess cash to pay off the housing loan should any mishap happens to you, would your family members  be able to use the excess cash prudently ?

Seen many cases of families straddled down with housing loan interests after the main breadwinners lost their jobs and it created a lot of strain and pressure in the family and in some cases, leading to the family breaking up.

The other scenario I saw was some families being not able resist or able to manage cash at hand when the main bread winner passes away. Instead of securing housing and paying off loans, there are always temptations to use the money for something else.

[Showster]

 

24 minutes ago, Davidklt said:

Like what T2 said, paying off housing loans is not  just a numbers and interest game.

It is also a signal to your family that you are taking care of them. In the event that there are any turmoil or you would not be around, they have a roof over their heads and housing loans would be the least of their and your worries.

Even if you have excess cash to pay off the housing loan should any mishap happens to you, would your family members  be able to use the excess cash prudently ?

Seen many cases of families straddled down with housing loan interests after the main breadwinners lost their jobs and it created a lot of strain and pressure in the family and in some cases, leading to the family breaking up.

The other scenario I saw was some families being not able resist or able to manage cash at hand when the main bread winner passes away. Instead of securing housing and paying off loans, there are always temptations to use the money for something else.

The problems are the same whichever format of material goods you leave behind, if you did not leave the family a culture of sharing.

Are you suggesting to leave nothing behind?

In any case, there are many who have settled one housing loan in full. What then should they do? Get another loan if they can of course...

[Davidklt]

27 minutes ago, Showster said:

 

The problems are the same whichever format of material goods you leave behind, if you did not leave the family a culture of sharing.

Are you suggesting to leave nothing behind?

In any case, there are many who have settled one housing loan in full. What then should they do? Get another loan if they can of course...

What makes you think there would be nothing left behind after the housing loan is paid off ? A responsible head of the family would make sure that comes wind or thunder, minimally, a family would have a roof over their heads.

I know of a family, the main breadwinner lost his job. And his savings were dwindled by the housing interest monthly rather than food on the table. 

And of course, for people want to take another loan after the first one is paid off, dont go with this approach if they dont have the financial means for it would defeat the first loan pay off at the first place.

Edited March 30, 2020 by Davidklt

[Showster]

3 hours ago, Davidklt said:

What makes you think there would be nothing left behind after the housing loan is paid off ? A responsible head of the family would make sure that comes wind or thunder, minimally, a family would have a roof over their heads.

I know of a family, the main breadwinner lost his job. And his savings were dwindled by the housing interest monthly rather than food on the table. 

And of course, for people want to take another loan after the first one is paid off, dont go with this approach if they dont have the financial means for it would defeat the first loan pay off at the first place.

Just a bit confused what you are advocating.

1. If cannot full cash settle a house, don’t buy? 

2. Got spare cash, keep as pure cash?

[Volvobrick]

8 minutes ago, Showster said:

Just a bit confused what you are advocating.

1. If cannot full cash settle a house, don’t buy? 

2. Got spare cash, keep as pure cash?

I think he means Buy first property with full cash. Buy second property with full cash. And keep plenty of cash at all time for stormy days,

I support! 😂 

[Ho2786]

LOL

buy everything with cash ?

ok I wait until 55 collect cpf than buy

 

[celios]

On 2/6/2019 at 10:29 AM, Karoon said:

No point

lol

 

[Throttle2]

It just means dont bite off more than you can chew.

chew already swallow already can always bite some more.

dont be greedy.

Greedy sure will be punished, one day.

 

 

[Showster]

https://www.straitstimes.com/business/banking/covid-19-individuals-can-apply-to-defer-property-loan-insurance-premium-payments

Eh swee leh!

1. Pay down property loan at the lowest interest rate ever!

2. If cannot afford, can defer payments for 9 months!

 

[Longg8]

On 3/29/2020 at 4:12 PM, Throttle2 said:

Have a friend who made a lot of money since 2010 becos he bought many bonds and the FI market just continue going up in the last ten years.

he started to think that its so easy to make money by using loans to buy bonds.  So he doubled up and for the last 10 yrs i hv been telling him not to overdo it. 

Even if something is super good and delicious, overeating it will cause you serious problems. Choke, vomit, etc....

Unfortunately he didnt listen, and didnt get out.

Now he is facing a complete loss of his entire portfolio worth about $80mil with  his originally profitable business likely to see losses in the weeks and months to come weighing down on him further.  

I asked him to thin out early March. Keep his profits, can fight again.  Sure i lost a few fingers myself, but he has lost all his limbs by now.  I feel sorry for him but on the other hand, someone has to pay for greed and complacency.

sigh..........

 

probably leveraged on reits... PB favorite product....