No Housing Bubble in Australia…is there?

It all has to do with supply and demand. Singapore is very high density for such a small place. With lots of people looking for a place to live, prices naturally go up. The ones who cannot take the 'pressure' in such a crucible invariably leave and look for better quality of life elsewhere. And this at least, is what I (and possibly many others) find in Australia. Better quality of life.

The people who leave Singapore are sometimes called 'quitters'. That's derogatory. In my opinion, it is the smarter people who decide what they want in life and do something about it, rather than staying put, being miserable and burning pitifully in the said crucible.

Hence, we 'quitters' shall be joyous, while the 'sitters' will continue to 'work with the system' and degenerate into a woeful existence, unhappy with their life but too afraid to do anything about it.

Somerset is probably close to what we'd call 'inner-city' in Singapore. Nevertheless, for $1.2mil, I'd rather be buying a nice house on a block of land over here. That's not to say I can afford a $1.2mil house of course…I'm a very small player here.

Interesting read, and judging by the comments, there's a lot of people out there waiting for the Australian property market to fail. It very well may, or it may not. One thing is for sure: the ones waiting for the crash have virtually nothing to lose and potentially a lot to gain if the bubble bursts. All they need to do is sit around and talk. It doesn't take guts (nor the smarts) to do that. Talk is nothing without action.

Those with money in the market are the ones who stand the chance of losing a lot. That said, I am betting my future and my entire portfolio that there is no bubble to burst. Sure, prices could fall but that doesn't fuss me. And I'm not anticipating price falls of 30, 40 or 50% either. I'll rather take my chances at a better financial future (at the risk of losing everything) rather than wait around, do nothing, and be screwed anyway, wallowing in self-pity and poverty in my golden years as inflation causes the death of a thousand cuts.

Well said

I doubt there will be a revolution in Singapore, considering 85% of Singaporeans live in public housing.

I should probably inform you that the majority of the residential housing developments in Singapore are publicly governed and developed and about 85% of Singaporeans live in such houses. Public housing in Singapore is currently managed by the Housing and Development Board (HBD). http://www.hdb.gov.sg/

More than 80% of Singapore's population live in HDB flats, with 95% of them owning their HDB flat. The remainder are rental flats reserved for those who are unable to afford to purchase the cheapest forms of public housing despite financial support.

Pricing of public housing flats are meant to be affordable, and are typically substantially cheaper than privately-built developments. For example, an HDB 4-room flat depending on age, environment and surrounding amenities can have a sale value of between S$200,000 to above S$300,000 and an HUDC Executive maisonette above S$500,000.

However, in contrast a privately developed condominium type housing can cost as much as S$1,000,000 and above.

http://en.wikipedia.org/wiki/Public_housing_in_Singapore

I totally agree with you on the note that many people will gain if the bubble bursts. I have the same feeling that prices won't fall by 30 – 50%. It could be 15 – 25 % at best.
 

nicolas_b, I remember going to a seminar where the headline presenter was introduced as a guy worth 25 million so I paid close attention.

A lot of what he said made no sense and I couldn’t believe his position of wealth.

I then discovered that he inherited 50 million 2 years prior.

I am sure though that your unencumbered property in Neutral Bay is totally self made.

At 33 thats a great achievement. Well done

DW, I like this: Please don't bother trying to tell us all how unaffordable everything is. The question you should be asking my friend is "what do fear mongerers have to gain" People who spruik the market "what do they have to gain?", people who spook the market, "what do they have to gain?". – Like everything it's a knowledge game – who's zooming who and why! <moderator: delete personal comment>

A mate of mine already is a billionaire between him and his pops.
(Comm prop) gets ragged on all the time.

Peeps forget his pops had difficulties in the 80’s and they learnt from it.
Remember the 80’s!

I agree, the answer, or, the ever elusive chalice, whatever, is – you get
what you put time into. Passion is the key.

You have obviously learnt your lessons well, or are a well learned scholar (lol)!

Henry Ford said – “Funny thing is, the harder I work, the luckier I get”

Carol Shelby said – “It’s not how fast you go, but how you go fast”

Never tire of hearing these, gives everyone hope I think.

Better off living on the lighter side of life if you can.

Do risk analysis but eventually, ONE side has to tip you over and here’s
the kicker, IMO , the due diligence IS the passion, and so IS the BS
(lol) that comes along with pulling the trigger.

Talk about dribble (mine), anyhow as you say (between the lines), forums
can be an interesting intermission –

LOL.

Yeah imagine if I was 'real' investor, I'd have to wear an ugly black suit, work 9-5 in a windowless office and have no personality.

Gotta love a stereotype.

D