I was kidding with my students when I told them that White House in US is going for a song. Given the drastic contraction in housing demands, housing starts, housing prices, no. of foreclosures currently occuring in US, you may now be able to afford to buy the White House.
We were reminiscing on the Financial Crisis back in the late 1990s. I remembered a "party" I attended in KL then. A big boss of several listed companies in Malaysia was bragging away of the possibility of buying up assets in Thailand on the cheap given the collapsing baht.
A few months later, Malaysia's ringgit too went down the tube. Now in 2008, I hope the sub-prime tsunamis will be over soon.
Coming back to the title of this article - We opine that there is limited upside to Singapore property's price. Why?
Under asset allocation theory, hot monies will go to places where it can find value. Relatively speaking, the current US property market presents more opportunities. So does this explain why a middle east fund decides to drop the options (and thus dropped millions of dollars) to buy properties in Singapore?
No comments:
Post a Comment