1 Million EC

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

1 Million EC

Postby Sniper Angel » Wed Aug 25, 2010 11:04 pm

If i have the time to waste, i will go to meet the MP and ask him/her..
Is the gov couraging family with household income not more than 10k per
month to buy the 1 million EC?

Anyone, up for this Canopy?

http://www.propertyguru.com.sg/property ... rch_btn=Go

Sniper Angel
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Postby kysha » Thu Aug 26, 2010 12:40 am

I wonder how the couple will have to slog for the next 30 years to repay their home loan...even with the 30k grant...if they were to buy a 1.38 million EC...
If i have a 1.38 million , will definately not buy an EC . Could easily buy a beautiful freehold condo ...
I feel that property prices are gettting ridiculously high...I worry for my next generation , if they could even afford a three room Hdb in the future...

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Postby vicki » Thu Aug 26, 2010 1:01 am

I feel that the property pxs are simply just too ridiculous now!! Just wait awhile more -- im sure a mini crash would come soon!!

I remembered looking at the property mkt in 1997 (when i was still stardeeing) and wondering how on earth i was ever going to afford a hse. Then came the crash and when i actually bot my hse (HDB lah - just started working so confirm no $$ buy pte) in 2003 at a "low" (Darn - if i had cash then - would have bot another investment unit) and was lamating to my dh how we would have to slog our lives to pay for the hse

Now on hindsight - my hse was soo "cheap"! Already "doubled" in value liao! :wink:

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Postby verykiasu2010 » Thu Aug 26, 2010 3:33 am

vicki wrote:I feel that the property pxs are simply just too ridiculous now!! Just wait awhile more -- im sure a mini crash would come soon!!

I remembered looking at the property mkt in 1997 (when i was still stardeeing) and wondering how on earth i was ever going to afford a hse. Then came the crash and when i actually bot my hse (HDB lah - just started working so confirm no $$ buy pte) in 2003 at a "low" (Darn - if i had cash then - would have bot another investment unit) and was lamating to my dh how we would have to slog our lives to pay for the hse

Now on hindsight - my hse was soo "cheap"! Already "doubled" in value liao! :wink:


prices will never go back to 2003 level of SARS. Even with the H1N1 last year, people already know what to do and there was no crisis

and there won't be another crash like 2007/2008 : look at Euro zone, they learnt from the US' meltdown of 2008 and all EU gov'ts came together to solve the problem and thus no meltdown in Euro zone in 2010 even though the PIGS countries are near bankrupt (Portugal, Italy, Greece & Spain)

don't bet another crisis of the same magnitude of SARS or financial system meltdown. all the governments learnt the lessons and ready credit are on standby
verykiasu2010
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Postby LKVM » Thu Aug 26, 2010 11:29 am

So why not salary incrementing as the property prices increasing :stupid:

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Postby Guest » Thu Aug 26, 2010 11:34 am

verykiasu2010 wrote:prices will never go back to 2003 level of SARS. Even with the H1N1 last year, people already know what to do and there was no crisis

and there won't be another crash like 2007/2008 : look at Euro zone, they learnt from the US' meltdown of 2008 and all EU gov'ts came together to solve the problem and thus no meltdown in Euro zone in 2010 even though the PIGS countries are near bankrupt (Portugal, Italy, Greece & Spain)

don't bet another crisis of the same magnitude of SARS or financial system meltdown. all the governments learnt the lessons and ready credit are on standby


Well, we can never play God... God knows when is the next crisis and how bad but we don't....so never say never... :wink:
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Postby mrswongtuition » Thu Aug 26, 2010 12:22 pm

I think I better start planning with hubby to purchase a freehold unit/property. Just in case property prices go beyond our children's reach, at least he has a roof over his head.

Will we become like US - where most people actually RENT rather than OWN the property?

Another thought: Whatever happened to 'subsidized' housing?

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Postby verykiasu2010 » Thu Aug 26, 2010 12:23 pm

ksi wrote:Well, we can never play God... God knows when is the next crisis and how bad but we don't....so never say never... :wink:


agreed. never says never

but history won't repeat so soon, and the structure of the SG economy is markedly different from the last 20 years, and it won't revert to the old economy any more

having said that, if u have ready cash, keep them ready to grab any opportunity that may come along

I know many people have missed the bus, and hoping that it will return sooner than expected
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Postby titank » Thu Aug 26, 2010 1:04 pm

Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.

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Postby toddles » Thu Aug 26, 2010 1:38 pm

titank wrote:Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.


answer is never.

just like how our parents had full pensions, full healthcare cover (even including spouse)... those days, like policemen wearing shorts, will never come back again.

but I believe that a housing price correction will come soon. it might not be a large crash, but this rate of growth cannot be sustained. with the influx of hdb flats dd will not be so high, and hopefully the market will regain some sanity.

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