We aren't in a recession, housing keep going up, yet so many F&B closing down ? I'm highly confused.

[niefeng80]

Quite a number of those high resale value 3rm,4rm,5rm are bought by new citizens/pr.

To them its a great value but to poor sinkies its unreachable.

Some newly MOP 3rm flats are already sold for $800k++. Understand they are pretty good location but it has only 2 bedrooms.

 

[dambio]

cheaper wages for bosses, better rental tenants & pty buyers for landlords/banks/developers, faster GDP growth for ministers and their GDP-linked bonuses.

I dun think ep is cheap. Just ytd I saw a jhb ask on social media. Ep easy to apply or not?

 

[hachi]

Quite a number of those high resale value 3rm,4rm,5rm are bought by new citizens/pr.

To them its a great value but to poor sinkies its unreachable.

Some newly MOP 3rm flats are already sold for $800k++. Understand they are pretty good location but it has only 2 bedrooms.

They enrich the original owner which is a Singaporean? No good?

 

[van123]

They didn’t get to benefit from CDC voucher

 

[spinning_quirK]

U need to follow the money to understand what's happening.

Property prices will continue to go up alot this and likely next year.
That's because stock and many companies had a bull run last year.

So the rich wiil start to take profit and sell.
They will also stop buying Tbills and bonds since the interests are lowering.

Since interest is dropping, they will then take the money and buy into stuff like assets like properties which are productive. Assets are finite resources.
So what happen when they buy over as a new owner is they will usually raise rent.

These rich people are not spending more on food and services, they are spending on buying over resources to squeeze from the people. So profit for companies will likely drop, recession can happen and many will uplorry which is not their business as long as they could rent out.
The govt will give out grants to support businesses, actually the ultimate benefiters are the asset owners as the the government helps the companies to sustain paying their increasing rent.
People always blame the SME but they don't see that the issue largely stamp from the rich fellows up there.

The vacancy rate in Singapore is very little, especially if you compare to other countries so buying assets in Singapore is generally very safe.

That's why cannot mollycoddle the rich who already know how to make their money work for them, percentage-based financial system also works in their favour.
Cannot give out too much welfare to the poor until nobody wants to work.
But nowadays every government tends to squeeze the middle classes.

I'm saying in terms of what a modern state's government should be doing pragmatically over a long term horizon (4 generations).
Of course as humans, even the best of us can't think beyond 1.5 generations.

 

[kingmaker888]

I tot median salary is so high ? Why are F&B closing down when we have record 6 million people?

They dun have to eat anymore ?

My personal take ? Ever since the JB customs become like MRT gentry everyone is going to JB to eat big ticket meals.

What chu all think ?

High property prices are killing f and b businesses it's simple

You cannot have it both ways

 

[lifeisinforashock]

Abnormal 4% gdp growth last yr.

 

[usarmy]

Those closed down f&b usually replaced with even more atas and expensive restaurant... Then the Q form up again. No recession in sg....


Sent from EDMWER!

 

[BoringStuff]

Wait till the marginal buyers finish you have property crash

 

[Fire Phoenix]

Cox we r all on board of Titanic now … everything appears good on the surface… if tat iceberg appears then good luck to the captain n all of us liao…

 

[okichin]

Money all go to mortgage payment, no money to eat out.

 

[Philipkee]

I think one issue is the margins are very low. And a lot of companies are teetering on collapse actually or just one bad month away from closing

 

[testerjp]

That's why cannot mollycoddle the rich who already know how to make their money work for them, percentage-based financial system also works in their favour.
Cannot give out too much welfare to the poor until nobody wants to work.
But nowadays every government tends to squeeze the middle classes.

I'm saying in terms of what a modern state's government should be doing pragmatically over a long term horizon (4 generations).
Of course as humans, even the best of us can't think beyond 1.5 generations.

The govt is spending more on welfare for the poor and middle class simply because they are squeezed by the resources being taken over by the very rich which led to the increase of prices on their basic necessities. It will only become worse and worse.

The govt's solution so far is to get more tax from the middle class to pay for the other poor folks of the same rank. Every year, you see there's a few new initiatives to generate more tax revenues. Those "cooling measures" did not bring down the prices, it only brought more taxes, especially from those buying HDB. From the start, I already said it will propel the prices instead.

Technically, the correct approach is to tax the rich, but the rich are also the ones appearing to be paying the most taxes and pouring the most "investments". They are the VVIP of the society. Many politicians are also likely owning a lot of properties, masked by buying under companies and being directors. The are part of the rich.

It's the same everywhere. USA is even worse now with two very rich guys running the show.

Another thing is when the RTS open, i suspect it will drive up the rental prices even more instead of the populist view that it would cool down anything. It is more likely to concentrate more JHK in JB and drive more JHK here than people going there since their immigration law don't allow foreigners to easily stay there for long term and it becomes a one way passage to Singapore instead.

 

[lampano]

Another things is when the RTS open, i suspect it will drive up the rental prices even more instead of the populist view that it would cool down anything. It is more likely to concentrate more JHK in JB and drive more JHK here than people going there since their immigration law don't allow foreigners to easily staying there for long term and it becomes a one way passage to Singapore instead.

this i thought so too.
I am not alone with this idea lol

 

[niefeng80]

They enrich the original owner which is a Singaporean? No good?

Good good ! BTO prices will also increase. 3rm flats starting from $500k++

 

[uponly]

They need to close down so that new mlxg, Chongqing huoguo, Scarlett, ygf, mixue, etc, can take over their storefronts.

 

[artncraft]

High rental and labour costs.

 

[vee4044]

I tot median salary is so high ? Why are F&B closing down when we have record 6 million people?

They dun have to eat anymore ?

My personal take ? Ever since the JB customs become like MRT gentry everyone is going to JB to eat big ticket meals.

What chu all think ?

Show that the foods here not Edibles , Price unreasonable not worth to support.

Also silently Boycott GST increased.....

Save up go travel like King.... Foods Good and Yummy. Pay less.

 

[hachi]

Good good ! BTO prices will also increase. 3rm flats starting from $500k++

The recent BTO got 316k 4 rm? No one wanted too cheap? All choose expensive one by choice?

 

[Milodrink]

because new citizens and PRs are high income and rich already. they come in push up median and average and bid up housing in central areas.

meanwhile wages of locals stagnate. that's why peasant areas stagnate and many F&B close down.

inequality worsening. the disparity is getting bigger.

there are really 2 Singapores.

Pritam said it best here: https://www.channelnewsasia.com/sin...p-opposition-leader-income-inequality-3295756

Meaning those report on High Salary Median is actually BOOSTED BY PR.


Makes sense thou.


Lol dragged down by Sinkies, many guai guai sheeps stay in one company money no increase.