The property market suddenly runs out of steam: Transaction volumes drop much lower. The private home for sale market is quiet. Condo rental deals also take much longer to close. Even property agents are taken by surprise. What is happening in the property market? How did it happen? Was it because of the 0.4 percent price fall in 2nd quarter flash estimate … [Read more...]
Cash is king now
We all heard of the saying “cash is king”. It is especially true at this point of time. To cope with rising inflation, the Monetary Authority of Singapore has gone ahead with three rounds of monetary tightening. Each round resulted in further reduction of money supply. Suddenly, cash becomes precious. Everywhere people are looking for cash now. The old trick of money … [Read more...]
When the housing market collapses
Remember the infamous Fannie Mae and Freddie Mac that kick-started the last financial crisis? Last month hedge fund Bayview Financial bundled their junk securities into $118 million new bonds. Fitch Rating immediately stamped it with A- for investment grade. Didn't they do the same for subprime mortgage bonds that were once top-rated AAA debts before the US housing … [Read more...]
Do’s and don’ts while waiting for housing loan approval
I came across this article from ActiveRain titled The Do's and Don'ts During a Home Loan Closing! and found it very insightful. Many home loan applicants are not aware of these unwritten rules and go on to do 'silly' things while waiting for the approval of their mortgage. Read the article, especially the six Don'ts. It can definitely save you from the shock and … [Read more...]
Getting the most out of housing loans
The following article is an excerpt from my book No B.S. Guide to Property Investment - currently No. 2 in Kinokuniya Monthly Bestsellers (Finance & Investment) and No. 10 in Times Bookstore Non-Fiction Weekly Bestsellers as of last week. Donald Trump has this to say about mortgages in his book Trump: Think Like a Billionaire: "Never accept a first offer, and always … [Read more...]