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beaverjuice

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Korea's baby boomer retirement casts shadow on housing market
« on: January 11, 2016, 03:52:41 pm »
http://news.asiaone.com/news/asia/koreas-baby-boomer-retirement-casts-shadow-housing-market

..... there are parallels between Korea and Singapore so those Singaporeans who are relying on property/rentals to fund their retirement lifestyle should think twice.

as our population demographic ages,  who are you renting your property to?  each other?

please support FT policy otherwise retirees will eat grass in future ......
"A man who has depths in his shame meets his destiny and his delicate decisions upon paths which few ever reach."

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nomnom

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Re: Korea's baby boomer retirement casts shadow on housing market
« Reply #1 on: January 11, 2016, 08:03:56 pm »
http://news.asiaone.com/news/asia/koreas-baby-boomer-retirement-casts-shadow-housing-market

..... there are parallels between Korea and Singapore so those Singaporeans who are relying on property/rentals to fund their retirement lifestyle should think twice.

as our population demographic ages,  who are you renting your property to?  each other?

please support FT policy otherwise retirees will eat grass in future ......

Korean housing market is a bit different from Singapore though.
Not many youngsters want to buy a flat because it makes more sense to rent a flat.
There are basically 2 types of renting system  in Korea. The 1st type is like Sg lidat whereby you pay rent every mth. The 2nd type is whereby you pay upfront a year's worth of  rent and 1 year later, when you decide not to rent anymore, the landlord will return you the whole year of rent. Hence, you might be asking that you are renting for free? In a way, the answer is yes. The landlord will use that 1yr of rent to collect interest, investment or watsoever.
I think young Koreans will only start to be more interested in buying a flat/house when the yearly rental scheme dies off.

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beaverjuice

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Re: Korea's baby boomer retirement casts shadow on housing market
« Reply #2 on: January 11, 2016, 08:48:15 pm »
That's assuming an ever growing supply of youngsters in korea to rent from you. Likewise in singapore - youngster singaporeans or FTs, both are whom in short supply ....

This is also compounded by the government to bring down the cost of living so that singapore remains an attractive place for companies to invest in .... where workers - both locals and FTs don't clamour for adjustments to wages to cover accommodation ...
« Last Edit: January 11, 2016, 08:52:35 pm by beaverjuice »
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nomnom

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Re: Korea's baby boomer retirement casts shadow on housing market
« Reply #3 on: January 11, 2016, 09:37:14 pm »
That's assuming an ever growing supply of youngsters in korea to rent from you. Likewise in singapore - youngster singaporeans or FTs, both are whom in short supply ....

This is also compounded by the government to bring down the cost of living so that singapore remains an attractive place for companies to invest in .... where workers - both locals and FTs don't clamour for adjustments to wages to cover accommodation ...

My married Korean frens are staying either with their parents or renting coz they don't see any value in buying the house. They told me that there aren't much resale value. Who knows? Things might change in the future.


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beaverjuice

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Re: Korea's baby boomer retirement casts shadow on housing market
« Reply #4 on: January 11, 2016, 10:01:13 pm »
My married Korean frens are staying either with their parents or renting coz they don't see any value in buying the house. They told me that there aren't much resale value. Who knows? Things might change in the future.

Singapore also many married couples staying with their parents and renting out their BTO/EC/condos ..... pocketing the difference to fund their lifestyles ..... until their loans or LTV covenants catches up with them .... :-X
"A man who has depths in his shame meets his destiny and his delicate decisions upon paths which few ever reach."

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beaverjuice

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Re: Korea's baby boomer retirement casts shadow on housing market
« Reply #5 on: January 12, 2016, 08:16:28 am »
speaking of "depopulation",  here is a blog that might be interesting.

http://econimica.blogspot.sg/

0 - 24 yrs age group has been declining worldwide.

demographic time-bomb.

*tick-tock-tick-tock*
"A man who has depths in his shame meets his destiny and his delicate decisions upon paths which few ever reach."

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