"STI dives nearly 3% to 23-month low"

[Beavis]

Check out the ST today (page B31).  I couldn't find the article online, but it's a good read!

Stuff like: "One big concern is the drying up of petro-dollars which had been propelling luxurious condos to sky-high levels, and fueling the almost insatiable demand for collective sales last year."

There's quite an obvious connection there (as well as surplus cash from China) that hasn't been mentioned here as I remember it, except by bulls, but now we see that it works the other way as well.

[Tell us]

What is the connection then?

[quite simply]

The world is facing its greatest economic crisis since the great depression. This could be much worse and much longer. Everyone is moving to a cash position which is causing a massive contraction of capital out of Asia in particular as the western markets shore up their capital reserves.

The connection is we are now moving to a worse case senario and expect a much greater property market correction than the estimated 20-30%.

[Beavis]

Sorry if I wasn't clear.  I was referring to the pools of excess cash sloshing around the world financial system, looking for a home -- mainly petrodollars and Chinese foreign reserves.  Some of that got invested in Singapore real estate.  With diving oil prices and slowing Chinese exports, there will be less of that money, and those investors will also become more careful about how they invest it and keep it closer to home.  This means less investment demand for Singapore real estate.

[It's hell]

of a deep and comfortable hole we bears have dug ourselves into. I hope no one shovel the sand on top of us..

[beavis]

Comfortable indeed!  My ultrashorts (SDS and SKF) were up 6 and 8% in one day yesterday!

[More drops ahead]

Please la.

All this crisis talk since last year.

DOW not even 20% from its top.

You will get to see more of these sharp drop happening very often in the next few months.

[Go ahead]

Comfortable indeed!  My ultrashorts (SDS and SKF) were up 6 and 8% in one day yesterday!

short some more..

[Bulls' Talk]

of a deep and comfortable hole we bears have dug ourselves into. I hope no one shovel the sand on top of us..

Tsk.., pass to me your shovel, I can see "The Futures" now and will personally shovel the sand into the hole..

[The future seems]

bleak. Property prices for sure will come off.

[Bull is back]

bleak. Property prices for sure will come off.

in your dreams. the big bull will be back by year end.In fact it is back right now. See below.

SC Global Receives Strong Response at Martin No. 38

First phase fully sold in private previews
Singapore, 8 September 2008 – SGX listed SC Global Developments Limited, a
leading developer of exclusive high-end luxury residences, is pleased to announce
that it has received strong response to its private previews for its latest original
creation, Martin No. 38. SC Global revealed the unique concept and details for this
latest project in a press release dated 12 August 2008.
SC Global has released 30 units in the first phase of marketing and all 30 units have
already been sold. The average price achieved has been $2130 per sq ft (psf) which
is above its expected pricing of close to $2000 psf as announced in its press release
on August 12th. Prices for the units sold have ranged from $1881 psf to $2494 psf.
“We are naturally very pleased with the response and how well received the project
has been with the buyers,” said Simon Cheong, Chairman and CEO of SC Global
Developments. “We believe this is very much a reflection on both the product and
the strength of our brand. We have always held the view that there is demand for
the right product and with Martin No. 38, there are clearly discerning buyers who
want the best and willing to invest in a premium brand. We had been planning to
only officially debut this project in late September and therefore this take up and
response has exceeded our expectations.”
There are a total of 91 units in this freehold development with units comprised of
mainly one-plus-one bedroom and two-bedroom apartments ranging from 969 to
1130 square feet. The development will also include a limited number of larger twoplus-
one and three bedroom apartments, ranging from 1335 to 1485 square feet.
The 15 storey development will also include four penthouses with private pools.

[30 little calves are back]

they may think they could grow to bulls, but in truth, the big bad bears will swallow them whole.  As I type, the bears have already clawed back half the initial rally S&P 500

[Well]

bleak. Property prices for sure will come off.

in your dreams. the big bull will be back by year end.In fact it is back right now. See below.

SC Global Receives Strong Response at Martin No. 38

First phase fully sold in private previews
Singapore, 8 September 2008 – SGX listed SC Global Developments Limited, a
leading developer of exclusive high-end luxury residences, is pleased to announce
that it has received strong response to its private previews for its latest original
creation, Martin No. 38. SC Global revealed the unique concept and details for this
latest project in a press release dated 12 August 2008.
SC Global has released 30 units in the first phase of marketing and all 30 units have
already been sold. The average price achieved has been $2130 per sq ft (psf) which
is above its expected pricing of close to $2000 psf as announced in its press release
on August 12th. Prices for the units sold have ranged from $1881 psf to $2494 psf.
“We are naturally very pleased with the response and how well received the project
has been with the buyers,” said Simon Cheong, Chairman and CEO of SC Global
Developments. “We believe this is very much a reflection on both the product and
the strength of our brand. We have always held the view that there is demand for
the right product and with Martin No. 38, there are clearly discerning buyers who
want the best and willing to invest in a premium brand. We had been planning to
only officially debut this project in late September and therefore this take up and
response has exceeded our expectations.”
There are a total of 91 units in this freehold development with units comprised of
mainly one-plus-one bedroom and two-bedroom apartments ranging from 969 to
1130 square feet. The development will also include a limited number of larger twoplus-
one and three bedroom apartments, ranging from 1335 to 1485 square feet.
The 15 storey development will also include four penthouses with private pools.

What's a few million dollars to these buyers (billionaires and people with loads of cash). Yeah, the bears will say that they can't hold on, must sell, need to rent out, blah, blah.

[Assuming]

that the real thing (property prices) is flat (conservative assertion), then SG property stocks are very underpriced..