Having suffered S$307M loss for the 1st financial quarter, my whole Monthly Variable Component (MVS) will be gone for the next 3 months, as per the agreement with the unions.
What happens after that will depend on the performance of each quarter.
*sigh* pay cut and the anomaly of peak HDB prices at a time when I'm looking for a HDB is not a good combination.
A friend SMS'ed me to ask if I need any help, and I just ask him to help pray we'll find a flat that we can afford in the area we're looking for - not far from where we're currently staying so that it's not far from the primary school for Snowylass next year.
Hope you find a flat you want. Tough times still ahead IMO. The property market and stock market are not behaving rationally.
ReplyDeleteSpeculations in stocks I can understand, there's margins one can play and one's leverage is limited to one's assets - but speculation in property is crazy.
ReplyDeleteThere're many sale/lease signs hung from balconies from developments near Holland V that's completing or just completed. Newspapers printed letters from public who went to property launches only to find the units sold out, and then the properties advertised for sale the next day.
The lecturer from a recent finance course I attended tried to show that with the projected population growth targetted by the government, along with the national birth rates, Singapore is still going to take in more skilled professionals/investor migrants who'll sustain the demand ... for a little while more ...
Tried a couple of units, a 4 room near Tiong Bahru asking for S$610K, and a jumbo at HV asking for S$700K. It'd make more sense getting a private property in the suburbs at those rates.
That sucks. =( I hope you get the property you want.
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