Property
Feeling Poor After Purchasing A Home
By Fatty Finance  •  August 29, 2020
The property market in Singapore is one of the hottest in Asia. Even COVID-19 could not dampen the property prices here. Housing sales rebounded sharply in June after circuit breaker (Singapore’s version of a lockdown) was partially lifted. I always find it amazing that people here in Singapore buy property like hotcakes. Most private homes cost millions, yet people are still buying them in droves. Even recently, government-subsidised housing (HDBs) had approached the million-dollar mark. It has become increasingly common to see HDBs being sold for a million. Just google ‘million dollar HDB’. Often, you hear the term ‘cash poor, asset rich’. Well, once you buy a property in Singapore, most of your net worth is from the value of the property – asset rich. And if you are not wealthy, most of your cash will be used to pay the house or service your housing loans, making you ‘cash poor’....
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By Fatty Finance
My aim is to simplify finance and make it palatable for everybody. I gather only the freshest financial trends and topics, mix them together with economics, health, business, science and other quality ingredients and stew them over long hours to serve you the simplest and most wholesome meals. As this is a fairly new blog, I will be focusing on writing investment topics for now. I intend to talk about all aspects of personal finance and will continue to expand each sections as the blog grows.
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