Overheating Property Market

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mrericlee
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Overheating Property Market

Post by mrericlee » Tue, 09 Jun 2009 5:00 pm

Hi,

IMHO, the recent stock mkt rally is way too high and property prices have adjusted upwards too fast.

Most D9 have gone up from 1100psf to 1500psf or higher.

I am thinking there will be a correction soon and prices will stabilize again.

Thoughts?

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sundaymorningstaple
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Post by sundaymorningstaple » Tue, 09 Jun 2009 5:10 pm

Been watching it for 26 years. Same - same. Up & down. Nothing new.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

nushk
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Re: Overheating Property Market

Post by nushk » Thu, 11 Jun 2009 8:43 pm

mrericlee wrote:Hi,

IMHO, the recent stock mkt rally is way too high and property prices have adjusted upwards too fast.

Most D9 have gone up from 1100psf to 1500psf or higher.

I am thinking there will be a correction soon and prices will stabilize again.

Thoughts?
oh no. I thought the property market was going down :(
damnit.

mrericlee
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Post by mrericlee » Sun, 14 Jun 2009 9:21 pm

I went to view units downtown today... the frenzy is over.

Developments are no longer swarming with buyers.

Expat's pal
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Post by Expat's pal » Thu, 25 Jun 2009 3:17 am

mrericlee wrote:I went to view units downtown today... the frenzy is over.

Developments are no longer swarming with buyers.

Am glad there are advice from veteran of 26 yrs' experience and one who personally goes down to developments to feel the market.

The recent pent-up sales volume is in the cheap mass market launch. As some economists and industry veterans commented recently 'since when in history did a success in one property segment indicate a success in all segments?'.

Apparently though, some subsale and resale sellers of higher end properties are taking this blurry image of sudden volume-up to price their way up to the ridiculous peak time 2007's level. Unlike 2007, this is a time of turbulent economic climate. Not a time of bliss and rapid growth. Buyers and investors who have been following closely are not myopic. It'll scare them off. So, there goes again... a correction.

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