atans1

Queen Jos keeps on talking cock

In Economy on 05/12/2019 at 10:37 am

This time on job market.

Queen of sex in small spaces was recently reported as saying

Current downturn unlike previous crises, as job market still holding up

Constructive, nation-building MediaCorp’s freesheet.

The piece went on

The ongoing economic downturn is unlike previous crises that Singapore has gone through — the job market is not as badly affected and there are still good job opportunities in certain sectors, Manpower Minister Josephine Teo said.

Read more at https://www.todayonline.com/singapore/current-downturn-unlike-previous-crises-job-market-still-holding-josephine-teo?fbclid=IwAR1Aof8zcQG48EKdg6hozCRnIxVGv_N9aYRS9-B6A34Oe0M13G5LUb0gDRE

Problem with her comments is that under the headline

Singapore property market faces risks from unsold units, uncertain economy: MAS

the equally constructive, nation-building CNA reported

“Ongoing uncertainties in the economic outlook and a softening labour market could negatively affect households’ incomes and their demand for property,” MAS wrote.

Already, hiring sentiment has turned cautious amid the growth slowdown, with fewer job vacancies than unemployed persons. It also noted that the number of workers placed on short work-week or temporary layoff has trended upwards, even as retrenchments remained low.

“Amid the possibility of an extended period of sluggish GDP growth, wage increases are expected to ease, which could weaken households’ debt servicing ability,” MAS said.

Sounds like the central bank disagrees with Queen Jos.

And there’s even worse news for those mortgaged up to their eyeballs fearful of losing their jobs or suffering pay cuts: falling property prices and negative equity

There is also further housing supply coming on stream, even as the stock of launched but unsold units builds up.

Figures from the report showed unsold units from launched projects, excluding executive condominiums, doubled to 4,377 units in the third quarter. This compares with 2,172 units the same period a year ago.

This increase is likely be exacerbated in the medium term, MAS said, as developers redevelop and launch projects on the flurry of en bloc sites sold between 2017 and 2018.

The central bank warned that having more unsold inventory “could place downward pressure on prices in the medium term, if unaccompanied by a corresponding rise in demand”.

Read more at https://www.channelnewsasia.com/news/business/mas-financial-stability-review-property-risks-unsold-homes-12133586

But as I said in TRE cybernuts and central bank singing from the same song sheet the solution is simple:

 [J]ust remove Additional Buyer’s Stamp Duty (ABSD) and prices will cheong.

Vote wisely. But the problem is

“Is a coalition that includes Mad Dog, Lim Tean and Meng Seng a better alternative to the 4G?”

Look at Lim Tean’s record. Still no jobs rally after collecting money in 2017 for rally, and no picture, no sound after collecting money to sue CPF yrs ago: Finally Lim Tean called to account on a “broken promise”. To be fair, he did deliver on defamation video two years late. But it was BS.).

Is there really a better alternative to PAP 4G?

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