Day 1 – Fall in private home prices

So today I officially open this blog and start off with my first actual post.

Current Affairs

Private home prices fall for first time in nearly 2 years

http://www.channelnewsasia.com/news/singapore/private-home-prices-fall/966242.html

Reason for reduction in private home prices is mortgage curbs implemented by the government. Mortgage refers to a legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor’s property, with the condition that the conveyance of title becomes void upon the payment of the debt. So basically with stricter regulation, there is fewer lending by banks to potential owners and therefore, lower demand for private houses resulting in the fall.

Nicholas Mak, executive director of SLP International Property Consultants, said: “We could also see the phenomenon of flight to quality. That means as you have more projects that are going to be completed, tenants will have more choices, and as rents come under pressure, some of these tenants may be moving from suburban areas to city fringe areas, while those that can afford higher budgets may be moving from city fringe areas to the prime districts.

“So on the whole, property in the prime districts will probably see stronger rental demand.”

Thus, the trend expected in future as more houses are being built in Singapore to support an exponentially increasing population is people moving over to high-end areas. I’m starting to think that Singapore’s a great place for expats who would usually occupy such prime districts but not so for Singaporeans. I recalled from a friend how Singaporeans are generally poor and it is the foreigners that are largely fuelling our small & export-driven economy.

Self

I don’t recall any particularly interesting revelations about myself but mm. Ok, I recently realized that I should start investing more into myself regardless as I owe it to myself to live my life the way I want it to be. Then I questioned why it took me so long to be responsible for my own life and decisions. (No I’m not saying that I have been irresponsible all this while. I just haven’t fully taken charge of my life.) I brought myself to a few conclusions; parenting & socialization. Parenting to a certain extent does affect how an individual turns out. Afterall, we learn more from home when we were young and our parents were largely influential figures then. I recall for every mistake I made/ anything I did that deviated from the norm, I was reprimanded for it & when I asked for reasons or rationale behind it, I wasn’t given an answer or the answer simply states that it just has to be that way. This reminds me of the point about creativity in “I’m not proud to be a Singaporean” vid but no, I am not commenting on that. Anyway, so I grew up in this authoritarian culture where I have no say or was not trained to think through things pragmatically and rather just follow the authority blindly. So I turned out to be passive which people don’t like honestly. Even me when I’m faced with someone who just follows any Tom, Dick Harry etc. without reason. So this brings us to socialization. Knowing how people your age functions or the responsibilities they undertake allow you to compare that with yourself and in a sense shows you where you stand. So I believe people who interacted more with more people can learn a lot about being proactive and putting yourself out there. This is definitely an essential life skill especially considering that how valuable we are is how we market ourselves to be. So investing in self would be the first step. Hope I’m not too late realizing this now.

So it’s 3:01am noww. I’m out.

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