China cancelling land sales as demand weakens

[property_assumptions]

There have been more and more incidents of local governments calling off land sales in china due to falling appetite from developers.

This seems like a very bad omen for all the people who has assumed their over leveraged bricks and mortar could only go up.

And if that can happen in China then why not Singapore?

[Sherlock Holmes]

When Greece leaves the Euro, the price of property in many European countries will fall 50-60% and this means the banks will be exposed to another sub-prime disaster as a direct consequence of their greed.
In fact they have known this and are busy stealing our savings directly and indirectly; remember their is no longer any interest on savings.
But who are the real beneficiaries? We know the banks hold the debt, but who holds the money? Developers?
And who are they?

[SH]

If it can happen in China, it can happen in Singapore and even worse, there are no resources of significant value that aren't merely on paper. I for one think people here are in for a big shocker but will not find out until it's too late.

[Vulcanl]

pp,

please clarify this statement:

"...there are no resources of significant value that aren't merely on paper..."

I can think of at least two:

*Singapore's ports
*Its massive Gold vault in Changi

[the gold vault?]

The vault itself is worth a lot?

The gold in it is owned by private UHNWI & are not Singapore's assets - I hope you are not suggesting that the state steals it from them.

[Vulcanl]

Indeed I was referring to the vault itself...

[oh stop]

V, when it falls here it will be hard. There really are not any resources here aside from the port which is based on other economies obviously.

Gold vault would be an asset if the government were to own it. Oh wait, they own or take everything else so why not?!

[wont happen]

it cant and wont happen.  Asia is sound.

[Asia following]

it cant and wont happen.  Asia is sound.

I notice there are a lot of people wishing and hoping nothing would happen. Over leveraged probably.

[Vulcanl]

oh stop,

"....V, when it falls here it will be hard...'

Please understand - I have been reading prognostications about Singapore's imminent demise here for years now.  It hasn't happened, and I don't think it will.  We live a World with eventual absolutes but much relativity within....compared to the West Singapore will continue to hum along

"...There really are not any resources here aside from the port which is based on other economies obviously..."

I disagree.  Here are more example of concrete resources:

*A solid reputation that continues to impress
*Rule of Law
*Sound fiscal management of Government's money

None of this will change any time soon (within the next 20 years or so).  To wager against Singapore would be a lousy bet

"...Gold vault would be an asset if the government were to own it. Oh wait, they own or take everything else so why not?!..."

And what exactly is wrong with this model for this size country??!?

[hypocrite]

Vulcanl, read your own messages. Stop bit ching about the west when in fact per capita they are in better shape than we are.

Please, you like it here so check into the real news.

[Vulcanl]

hypocrite,

We (The West) are looking at no less than the collapse of the economic/financial/monetary system we have known all our lives.  What comes after is impossible to see, and it could get REALLY ugly from here.  You should be thankful that you live in such a secure environment...the days when personal safety will be a daily issue to be reckoned with in the West are drawing near.

REAL wealth is declining in the West and increasing in Asia.  There is ample proof of this at this point - and I will add that I did 'tell you so' almost 3 years ago that this was going to happen!

[wont happen]

Agreed,

Asia is rock solid.   It is not going to go down.

The west on the other hand is looking decidedly more dodgy as each day passes.

I too have listened to the trolls droning on about how asia is finished etc etc for many years now and yet asia is leading the world financially.  Even the west want to borrow from China !!

[fair warnings]

hypocrite,

We (The West) are looking at no less than the collapse of the economic/financial/monetary system we have known all our lives.  What comes after is impossible to see, and it could get REALLY ugly from here.  You should be thankful that you live in such a secure environment...the days when personal safety will be a daily issue to be reckoned with in the West are drawing near.

REAL wealth is declining in the West and increasing in Asia.  There is ample proof of this at this point - and I will add that I did 'tell you so' almost 3 years ago that this was going to happen!

V, you spout so much rubbish about secure environment.. Are you personally ready to compensate financial losses that investors will accrue in near future if they listen to you now?

[Vulcanl]

fair warnings,

"...Are you personally ready to compensate financial losses that investors will accrue in near future if they listen to you now?..."

No, of course not...and why should I?  We are all adults here, debating topics of interest.  Only we as individuals can make proper decisions about our own financial situations...your posts stinks of the mindset in the West that espouses passing responsibility for one's actions on to someone else....it's like Westerners can't think for themselves anymore...sheesh