tag:blogger.com,1999:blog-4405345292513335071.post8023300467619874136..comments2024-03-01T15:11:54.107+08:00Comments on Little Stories: How To Understand Information in the Age of Lots of InformationGilbert Koh aka Mr Wanghttp://www.blogger.com/profile/01027678080233274309noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-4405345292513335071.post-10084397057112178512009-08-21T12:13:30.580+08:002009-08-21T12:13:30.580+08:00Last week, I went to a property preview presentati...Last week, I went to a property preview presentation. The agent presenting was trying to scare the people that there might not be enough private housing although govt said that there are sufficient units for the next few years. The agent presented data showing that after deducting the figures for landed housing, there isn't much left for condo etc etc. He also denied that bubble was forming. In short he encouraged the audience to submmit the blank cheque as soon as possible otherwise they might missed the chance of grabbing the unit. Guess what??...the unit cost about $1000psf for a 99 years leasehold. I walked out of the presentation immediate when it ended. I am a cool headed person!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-62715366332638623162009-08-04T11:18:35.470+08:002009-08-04T11:18:35.470+08:00Lucky
Mr Wang already told u. Income divide is wi...Lucky<br /><br />Mr Wang already told u. Income divide is widening.<br /><br />The condo market is targeting at the top 10% where the income is growing.<br /><br />The rich guys in the top 1% can afford 4th or 5th. And in fact there is a lot of foreign money parking in SG. <br /><br />And GDP figure is only relevant to minister's pay. the only thing that matters is income.<br /><br />Having said that, that a quick look at URA website for sub-sales to decide for urself if it is speculation or real demand.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-20547008454352345642009-08-04T10:36:36.724+08:002009-08-04T10:36:36.724+08:00Maybe if just only 10-20% of households has >$...Maybe if just only 10-20% of households has >$10K pm income, there will be more than enough buyers who can afford $800K-1M condos. If more high talent high pay FTs let in, even better.<br /><br />So maybe Govt really knows how many can really afford based on the "market price". They will also then adjust HDB prices "accordingly".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-54367855470272928862009-08-03T21:50:53.928+08:002009-08-03T21:50:53.928+08:00mr wang, when 99-yr mass market condos are now sel...mr wang, when 99-yr mass market condos are now selling at 3 mth ago prime district pricing level, the widening income divide cannot be the main reason. I would put my money on blind speculation aided by reckless bank lending.<br /><br />I checked around, none of my friends are getting any pay rise. Those running businesses are also not getting any better income. Only people that are having a better time nowadays are stock brokers and property agents.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-37139811058470986922009-08-03T21:16:59.129+08:002009-08-03T21:16:59.129+08:00Mr Wang,
You are right. Singapore's gini-coef...Mr Wang,<br /><br />You are right. Singapore's gini-coefficient has been rising (from 0.49 in 2000 to 0.52 in 2005). This means income disparity is growing. <br /><br />This is more common amongst those above the age of 45. During colonial days, not many have opportunities for higher level of education. <br /><br />Our new economy needs skilled labour and a good percentage of foreign talents and graduates are skilled labour, who are paid the higher income.<br /><br />Look at your close relatives in that category and speak to them. Many are asked to take much lower pay or switch to jobs in tourism. <br /><br />Doubt many could participate in the private property boom.<br /><br />Whatever data or information from the media, read it, tear it apart and look at the what-ifs... Try to develop your own insights.<br /><br />Anything that is in demand would be speculative for a while, not just properties. Oil, stocks, Palm oil, I-Phone, durians, etc. <br /><br />This is common in capitalism. And so is adverising and propaganda from companies. Its called 'Marketing'.Anti-Chronic Singaporehttp://sites.google.com/site/antichronicforspore/vitamin-anoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-62313460629216254122009-08-03T19:03:07.985+08:002009-08-03T19:03:07.985+08:00Mr. Wang,
Some validity in what you said. Given t...Mr. Wang,<br /><br />Some validity in what you said. Given that our median household income is $4.6K while average household income is $6.4K. Totally skewed....the man-in-the-middle is not doing so well. <br /><br />However, after the rich guy buys his 3rd home. can he buy his fourth? Even when we look at total GDP, it is not growing as fast as property price. No matter how the money is distributed, there isn't enough to sustain this type of rise in the long run.Lucky Tanhttps://www.blogger.com/profile/04966909243143681126noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-26231084337531648972009-08-03T18:43:03.106+08:002009-08-03T18:43:03.106+08:00Ah, Lucky. The other way to look at it is that the...Ah, Lucky. The other way to look at it is that the income divide is growing. <br /><br />Some rich Singaporeans are growing richer and richer, and some poor Singaporeans are growing poorer and poorer. <br /><br />So while the average income of Singaporeans looks more or less unchanged, there is a segment of the population which is genuinely able to afford to put their money into all these expensive properties.Gilbert Koh aka Mr Wanghttps://www.blogger.com/profile/01027678080233274309noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-18118157119563046342009-08-03T18:11:24.803+08:002009-08-03T18:11:24.803+08:00Bubble or no bubble... Since these price rises occ...Bubble or no bubble... Since these price rises occurred without the corresponding rise in income....it simply means Singaporeans have less money for other things in life. <br /><br />For prices to stay up either incomes have to rise or more Singaporeans forgo other things in life for property....and this adjustment is permanent among Singaporeans otherwise property will go right back down. <br /><br />In the long run property has risen with income. There is a chart in my blog that shows this close correlation. If you look at the chart for recent months, clearly the prices have gone up too quickly. Either income catches up or based on past history the price of property will eventually come down.Lucky Tanhttps://www.blogger.com/profile/04966909243143681126noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-38875806101925411172009-08-03T16:12:49.866+08:002009-08-03T16:12:49.866+08:00'Affordability' is the least important wor...'Affordability' is the least important worry of those who speculate on properties. Their motive is selling out and making a profit even before the property is ready for occupation. <br /><br />'Affordability' only features into the plans of those who intend to stay in the house for the longer term.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-28018212796097392612009-08-03T15:25:53.867+08:002009-08-03T15:25:53.867+08:00Depending on how cynical one is you could either s...Depending on how cynical one is you could either say - there is no point asking an inmate in an asylum whether he is mad or that this is a Jedi mind trick. There is no property bubble.porcorossohttps://www.blogger.com/profile/09805698582130222329noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-55123869493275865582009-08-03T10:14:42.406+08:002009-08-03T10:14:42.406+08:00@anon 4:45
"Affordability"?
How is it r...@anon 4:45<br /><br />"Affordability"?<br />How is it related to speculative bubble?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-47261454503265125142009-08-01T16:45:23.518+08:002009-08-01T16:45:23.518+08:00mr wang, i would like to hear your comments about ...mr wang, i would like to hear your comments about the affordability of the average median household against the cost of the low-end condos as thor has highlighted. you've speculated on various reasons in your previous post about the possibility of potential demand but don't you think question of affordability would be the over-riding factor in the end?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-15285892096674390022009-08-01T12:43:35.859+08:002009-08-01T12:43:35.859+08:00It is in PAP govt's interest to help the devel...It is in PAP govt's interest to help the developers and big businesses. Once these developers have cleared their stock and the buyers are left to hold the babies, the govt will step in with measures to "cool the market". LOLAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-11556111908308448072009-08-01T11:32:45.518+08:002009-08-01T11:32:45.518+08:00Show me how (not how much) they are paid and I wil...Show me how (not how much) they are paid and I will show you how they behave.Parkahttps://www.blogger.com/profile/17581208018640652394noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-6544016819122096382009-07-31T23:22:40.034+08:002009-07-31T23:22:40.034+08:00reminds me of a book i read - Freakonomics. it had...reminds me of a book i read - Freakonomics. it had some unorthodox of experts using information against you. the only way to protect ourselves other than the govt is to obtain some information ourselves and observe the situation. through certain decisions whether right or wrong, we will learn and grow and through these experiences we will be better at interpreting these 'experts' advice.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-58017022406720442862009-07-31T18:24:51.827+08:002009-07-31T18:24:51.827+08:00Unfortunately, the government will also have its o...Unfortunately, the government will also have its own reasons for telling you what it tells you. Here is one <a href="http://mrwangsaysso.blogspot.com/2007/01/on-real-life-tv.html" rel="nofollow">example</a>.Gilbert Koh aka Mr Wanghttps://www.blogger.com/profile/01027678080233274309noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-68804997939698622752009-07-31T17:56:58.621+08:002009-07-31T17:56:58.621+08:00Physics, what you are asking for, is encompassed i...Physics, what you are asking for, is encompassed in "Role of Governments" through "protection of public spheres and interests".<br /><br />Let's see our gahmen keep that KPI.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-42592526236952659392009-07-31T16:53:58.266+08:002009-07-31T16:53:58.266+08:00If we do not trust the experts, i.e. people who ar...If we do not trust the experts, i.e. people who are knowledgeable and experienced in certain areas, who should we listen to?<br /><br />How do we know the real truth? How do we, as members of the public, protect ourselves from misinformation?Physics Wizardhttps://www.blogger.com/profile/05423192244953902544noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-76603053965938089942009-07-31T13:51:10.679+08:002009-07-31T13:51:10.679+08:00Dennis Ng from HousingLoanSg has come up with a ra...Dennis Ng from HousingLoanSg has come up with a rather quaint way of putting how long this rally can last. Looking at the average median household salary of 6k, and 4% ave interest rate, the max loan one should be comfortable with is about 500k(35% of salary). Given that most low end condos are already at 800/900k-1 mil+, either there are a lot of rich ppl around, or speculation is in the air.thorhttps://www.blogger.com/profile/02833156440017390783noreply@blogger.com