The latest government measures to cool the property market hit us on 5 Oct 2012. I will analyse the impact another day but it really seemed that the government is trying its best to stop the property bubble from happening.
Let’s continue with part 5 of my story today where we travel back to 2007.
It was Feb 2007. HSBC just announced that it will have larger than anticipated losses from default of subprime mortgages. This was the first warning point and the start of the subprime crisis. I was watching the subprime situation closely.
Lesson Learnt – Be informed and always keep yourself updated to the things that are happening elsewhere in the world. Singapore is a small country with an open economy and will always be impacted by other crisis around the world.
The second warning …