(30-06-2013, 09:19 AM)cfa Wrote: [ -> ] (30-06-2013, 09:06 AM)CY09 Wrote: [ -> ]Hi.
The TDSR methodology only applies to property loans and not other types of loans, hence 60% is pegged to only all property loans.
Secondly, with regards to the Asian crisis of the late 90s, I did ask before in VB whether property owners had to top up their equity, and if I remembered correctly, many older forumers recounted how banks turned a blind eye as long as the applicant continued servicing his monthly mortgages.
One of my friends who owned 3 properties, banks called him up to top up, he told the bank he couldn't , banks told him as long as he didn't default the monthly repayment, it would be ok.
the bank did the right thing...i understand the bank can't do anything as long as monthly instalement continued to be paid...
something like a term loan...
(30-06-2013, 03:35 PM)cfa Wrote: [ -> ]If Gov is serious about curbing the property market, they do not have to come out with so many CMs and still not effective. The 9th wayang will be out in the near future. They are fully aware people enjoy watching wayangs .
Obviously, this TDSR is to close some loop holes that allowed people to bypass the previous CMs; and also getting the FIs to follow similar assessment criteria. When people work, you say people wayang; when people don't work, will you say they are sleeping? Please remember that there are many civil servants who are just ordinary citizen doing their job.
in a way, banks seem to converge to a same standards, like that quite tough for banks to differentiate and make money
Hard to stop the charge of lemmings.
(30-06-2013, 03:55 PM)egghead Wrote: [ -> ] (30-06-2013, 03:35 PM)cfa Wrote: [ -> ]If Gov is serious about curbing the property market, they do not have to come out with so many CMs and still not effective. The 9th wayang will be out in the near future. They are fully aware people enjoy watching wayangs .
Obviously, this TDSR is to close some loop holes that allowed people to bypass the previous CMs; and also getting the FIs to follow similar assessment criteria. When people work, you say people wayang; when people don't work, will you say they are sleeping? Please remember that there are many civil servants who are just ordinary citizen doing their job.
If they are serious at their work, there would not be so many ""loop holes "" after so many rounds of CMs. This tells all.
(30-06-2013, 04:22 PM)opmi Wrote: [ -> ]Hard to stop the charge of lemmings.
Tis' starting to look like lemmings.
The cleanest way is to increase housing supply, other deliberate actions are cosmetics. Period.
(30-06-2013, 04:51 PM)corydorus Wrote: [ -> ]The cleanest way is to increase housing supply, other deliberate actions are cosmetics. Period.
They are the biggest land owners and hope to sell them at high or lower price ?
Multi prong. Even supply need lead time to build. Delay copycat demand from tightening credit and taxes.
I think the govt did quite ok. When the supply TOP, gonna hear people KP about slow or bad property mkt.
Everyone always thinks they can do a better job, but the question is, are they really able too, making sure the fine balance between the requirements of all parties and ensuring no impact to the economy.