distressed properties = bad karma?

[myfs_77732]

dear sirs,

what is your opinion on repossessed properties, they are normally soldbelow market value.do such porperties have bad geomancy or is it perculiar to the previous owners only. by the way, what do you think of the warrenproject in choa chu kang?

[Cecil Lee]

Dear Stan,

Frankly, I believe many people would agree with me that we should use the words " It depends".

This is because, in Singapore, there are all sorts of "failures":

For example:

1. Some people are greedy and dabble into stocks and shares beyond their means. (Not all, but some)

2. Some Singaporeans, go into "silly" businesses or unimaginative business. For example: into bubble tea business or business that they think will work - but often, cannot.

3. Singapore is such a tiny country. With a small market share. And I believe there was some report that a large percentage of business failure in Singapore due in part to this small market and other factors e.g. high rental etc..

4. Many believe that many Singaporeans went thru a generation or more of "unimaginative" / non-creative education system. Many businessmen are also kiasu (or scared to die attitude)

5. The past few years of recession and this can happen to anyone.

6. Some people buy beyond their means with the hope that they can ride the storm and hopefully sell these homes at a hefty price. But, it looks like already made a paper (asset loss).

7. "Silly" people purchasing 99 year condos at $600 or more per sq feet. Nowadays, such condo prices and even new ones are selling at only $400 p.s.f. (depending on location).

8. In my opinion, many highly educated, or the more educated a Singaporean, the more, risk adverse they are. This is why, we often hear many polytechnic graduates instead achieve better as businessmen than say a graduate. Here, a poly graduate or even an O level or A level score person, could have felt that he/she has nothing to loose and go all out to do. While, many graduates, prefer a safer route working for others!

As one can see, one can easily list out more reasons as to why Singaporeans fail or cannot seem to keep their home.

So, personally, I feel that there is no ill karma - for many of the reasons.

Quote

what is your opinion on

repossessed properties, they

are normally soldbelow

Therefore, I personally feel that often there should not be a stigma attached to "repossession" especially if a review of the home found that it can still be an acceptable home.

Fortunately, you mentioned "REPOSSESSION" and not "POSSESSED" home! Or something terribly happened in a home e.g. a murder took place or other crime.

I would be more concerned with a "possessed" home or a hunted one!

Warmest Regards,
Cecil

Quote

On 4/21/2004 10:18:27 AM, Anonymous wrote:

dear sirs,

what is your opinion on

repossessed properties, they

are normally soldbelow

market value.do such

porperties have bad geomancy

or is it perculiar to the

previous owners only. by the

way, what do you think of the

warrenproject in choa

chu kang?