Who else is hoping for a jia lak recession with the 1997 kind of scale to come soon?

[jericho75]

They don't kacau us with boliao policies is considered help liao!

Meanwhile another train breakdown this morning.

Always thinking of ways to fix oppo parties instead of rectifying this persistant train breakdown issue once and for all.

I take metro trains in many China cities also don't have this type of nonsense. Even on some of the ageing lines on Shanghai metro the punctuality is stellar.

nowadays i dun take mrt so I dun have all these issues. remember 2011 time really is very dulan. mrt need to wait 2-3 trains of 5 mins eahc during peak in the morning then still need to squeeze in at the entrance with face sticking on the glass door.

 

[randyap]

Then see if papaya will save sinkies like they promised to do so during erection?

What if the magnitude of recession is 1920s level.

 

[jericho75]

"Don't ask what your country can do for you

Ask what your country can do to you"

dun saboh u is very heng liao. see now they dunno cause what until those medical shield plans hiked by 300%.

 

[jericho75]

People will still q at $5 chagee, life goes on....

because dun have any recession like the impact of 1997 yet for so long mah.

 

[jericho75]

What if the magnitude of recession is 1920s level.

if another 1997 one comes. i dun think many ppl will be able to tahan that. 1920s one then need to follow ramlee eat in temples liao.

 

[wwenze]

What if the magnitude of recession is 1920s level.

Did Singapore feel any recession in 1920?

No, coz we were still fishing village without HDB. PAP wansui!

 

[Wanderer123]

if another 1997 one comes. i dun think many ppl will be able to tahan that. 1920s one then need to follow ramlee eat in temples liao.

I tink generally most singkies have savings, impact wont be too bad, at least wont go hungry la, da most stay with folks, everyday hide in room n play online games lor. For those with alot of mortgage, prob bank auction sale. Most affected likely those staying in rented hdb from govt.

 

[BunnyPancake]

I only know SG has one of the highest debt to income ratio.... means a lot of sinkies got big debts. I remember many are literally living paycheck to paycheck.

If crash, you'll see a lot get affected until gaolat. Many of these folks are middle-class at best but they like to stroke their ego and think they belong to the rich class.

It's a big bubble... and I believe that's one of the reasons why govt don't want to take extreme measures to curb property prices...

 

[couch.potato]

I only know SG has one of the highest income to debt ratio.... means a lot of sinkies got big debts. I remember many are literally living paycheck to paycheck.

If crash, you'll see a lot get affected until gaolat.

It's a big bubble... and I believe that's the reason why govt don't want to take extreme measures to curb property prices...

Have meh? On EDMW, Reddit and my relatives always hear them say how much savings they have and how much they have in stocks… already pay off HDB mortgage and want to retire with 2m and renovate their house $2k nia unlike all the other idiots… where got highest debt to income ratio?

 

[couch.potato]

dun saboh u is very heng liao. see now they dunno cause what until those medical shield plans hiked by 300%.

GST raised liao then MediShield raised 300% I really catch no ball.

but Singaporeans are very rich don’t worry.

 

[JustKidding]

Waiting since 1997

 

[Wanderer123]

Have meh? On EDMW, Reddit and my relatives always hear them say how much savings they have and how much they have in stocks… already pay off HDB mortgage and want to retire with 2m and renovate their house $2k nia unlike all the other idiots… where got highest debt to income ratio?

Prob gen y n z most affected, pioneer gen n gen x not too much.

 

[touchring1]

Prob gen y n z most affected, pioneer gen n gen x not too much.

Singapore gen x not the same as the angmo one. A few years earlier. Those late 1970s should be considered gen y.

 

[BunnyPancake]

Have meh? On EDMW, Reddit and my relatives always hear them say how much savings they have and how much they have in stocks… already pay off HDB mortgage and want to retire with 2m and renovate their house $2k nia unlike all the other idiots… where got highest debt to income ratio?

But that's the scary thing... we are always getting different data and it swings a lot one.

Example, they said prior to 2020, the ratio was 1.3.

But the latest article I can find says as of 2024 it is now at 1.2:
https://www.straitstimes.com/busine...ow-as-high-interest-rates-deter-borrowing-mas

But when you look around, you notice it should be way worse. Like HDB now easily millions, car price and COE kept going up, cost of living kept going up... but ratio improved to 1.2? Where they got those numbers from lol

 

[jericho75]

I tink generally most singkies have savings, impact wont be too bad, at least wont go hungry la, da most stay with folks, everyday hide in room n play online games lor. For those with alot of mortgage, prob bank auction sale. Most affected likely those staying in rented hdb from govt.

that is current market. actually those that have went through 1997 will know that credit freeze and companies go burst. dun even have much jobs hiring people. even my ex classmate father doing renovation also go to drive taxi because nobody is buying houses so no renovations.

 

[jericho75]

GST raised liao then MediShield raised 300% I really catch no ball.

but Singaporeans are very rich don’t worry.

rich then news says many wanna downgrade plans liao. this oyk got do work or not? how can insurance hiked up by 300%?

 

[couch.potato]

Prob gen y n z most affected, pioneer gen n gen x not too much.

Got one EDMW korkor say
Why we worry about their gen z kids? They will have their own BTO, his (kid’s parents) bto, and his insurance payouts when he dies… said EDMWer is still here.

they won’t be affected lah we being silly

 

[couch.potato]

But that's the scary thing... we are always getting different data and it swings a lot one.

Example, they said prior to 2020, the ratio was 1.3.

But the latest article I can find says as of 2024 it is now at 1.2:
https://www.straitstimes.com/busine...ow-as-high-interest-rates-deter-borrowing-mas

But when you look around, you notice it should be way worse. Like HDB now easily millions, car price and COE kept going up, cost of living kept going up... but ratio improved to 1.2? Where they got those numbers from lol

But to be frank with you, with my millennial friends they do seem (at least on the outside) to be doing pretty ok. the million hdbs either got parents’ help or they already sold their first gold mine bto buy also possible.

Like the other EDMWer said, sinkies got savings culture. see dtf index, ish zhun one. Because in 1997 even coffeeshop index was abysmal.

 

[jericho75]

But that's the scary thing... we are always getting different data and it swings a lot one.

Example, they said prior to 2020, the ratio was 1.3.

But the latest article I can find says as of 2024 it is now at 1.2:
https://www.straitstimes.com/busine...ow-as-high-interest-rates-deter-borrowing-mas

But when you look around, you notice it should be way worse. Like HDB now easily millions, car price and COE kept going up, cost of living kept going up... but ratio improved to 1.2? Where they got those numbers from lol

since after 2022, even bto hiked up prices like 60-80k within 2 years. but ppl just continued buying because can loan.

 

[couch.potato]

rich then news says many wanna downgrade plans liao. this oyk got do work or not? how can insurance hiked up by 300%?

But honestly none of the people around me talking about the MediShield price increase. Wonder why. Maybe all Medisave very rich.