Recent Headlines--What Do They Mean?

US commercial property sales to fall 70%
(SEATTLE) The value of US commercial real estate sales this year will fall to US$142 billion, 70 per cent less than last year's record US$467 billion, as the economy slows and borrowing costs rise, according to Reis Inc, a New York-based real estate research firm
Occupancy costs fall in S'pore: CBRE
(SINGAPORE) The republic is still one of the most expensive places in the world to do business in, even though office occupancy costs here have dropped, the latest survey by CB Richard Ellis (CBRE) shows.
New York home prices see steep decline
(NEW YORK) The economic crisis is finally crashing New York's real estate party, forcing the city's residents to start sharing the rest of the country's pain.
HK's mortgage loans drop 40% in October
(HONG KONG) Hong Kong mortgage loans fell for a third month in October as banks tightened lending amid an economic slowdown and a freeze in global credit.
Frankfurt office property market seen softening
(FRANKFURT) The office property market in Frankfurt, Germany's banking capital, looks set to soften but is likely to hold up better than London, Europe's top financial centre, mainly because fewer bankers are losing their jobs.
Abu Dhabi moves to revive housing market
(ABU DHABI) Abu Dhabi deepened efforts to stave off economic damage from the credit crisis yesterday, launching a government- backed lender to revive the housing market as major Dubai developers were reported to halt sales.
Sellers slash asking prices for homes in UK
(LONDON) Increasingly desperate sellers slashed asking prices for homes in England and Wales by 2.9 per cent in November, pushing them 7.1 per cent below their level a year ago, a survey showed yesterday.
More steps to stimulate China market on the cards
(BEIJING) China is likely to roll out more measures before long to stimulate demand for housing, but recovery in the all-important property market is unlikely for another year.

The financial melt down that started as a ripple in the US has roared across the oceans to all parts. What does this mean? Are we near the bottom? How long will this last?

Meaning is very straight forward. We are all reaping a whirlwind of hurt that was the result of blind profit taking. The following analogy came to mind. Picture the Hoover Dam and several people at different parts of the dam. This Hoover Dam is not made of stone but is made of Gold. Each person there is picking at the dam with glee as large chunks come off. Even when water starts to come out the people just move to other areas. Well, you can guess what happens.

Now that the water is flooding and drowning some, everyone is complaining about what has occurred. Each person that was on the dam is blaming the guy with the biggest shovel---the US.

How long is this going to last? This is the Great Depression of our time. We may not experience long lines of people without jobs, waiting to get food but the younger generation will be talking about the devastation this melt down has caused. Just like my grandmother who lived through the depression, she never ate rice as an adult. Mainly because as a child she only had rice to eat so she hated it as an adult. We may see things turn around when people start to feel safe again. My guess is about 2 or more years. In some areas it could be longer.

Are we at the bottom? Is it much farther now? Not far now. We are closer to the bottom then we are to the top. I wonder how this will affect how we look at the world in 5 years or 10 years.
Lets say we are at the bottom now. Is that good? Does it take a severe problem for us to remember it longer than a few months. 9-11 is now a distant memory even as India is battle their own terrorist attack in Mumbai. I bet there is a sign of relief in the US that is not them but the wounds have scarred over from 9-11 and we soon put it behind us. If we manage to get out of this financial hole, do we soon forget as our refrigerator is filled and our car has a full tank of gas?

Human nature is a survival instinct.

Things I Love about Singapore

Whenever I go to a new city, I find you must live there for a while before you can actually say for certain you like it.  Visiting is totally different compared to living in a city.  I compare it to dating as opposed to living with each other.  When you are dating, there are sparks that blind you so you overlook the details.  It is not until you get that first place together that you magnifying glass comes out and you really see how things are going to be.

Singapore, up until January 2008, has been my date for the past several years.  I've made many visits but I did not stay longer than a month.  I had some good times and felt I was ready to make that next step.  So earlier this year, I made the move.  

I would like to say everything has been perfect but like any new relationship there has been the occasional bump and even all out brawl but I haven't left nor has Singapore.  My process here is to post my positives of Singapore because like my mother told me if you don't have anything positive to say keep it to yourself.  I will follow her advice for now but wait till she is not looking and I will post my list of things I don't particularly enjoy about Singapore later. So here they are in no particular order but how they came out of my head: 

1. Making Time to Eat: Singapore is awash with small stalls called "hawker centers" so you are never far from a small, fast cooked meal.  Most food is delivered within a few minutes of ordering.  It rivals fast food but it is freshly cooked most of the time.  
2. Family time: Singapore and its people are always busy doing something but no matter what time it is, the people here manage to see their families and eat a meal together.
3. Buses, MRT and Taxis:  Singapore has one of the best public systems for getting around.  There are bus stops everywhere and if your not taking a bus then take the Subway called the MRT.  When your in a hurry then a taxi is the next best thing.  It is a little more expensive then the first two but well worth the quickness and sometimes the conversation is better than a tour guide, therapist or financial consultant.
4. Green Green Green:  Singapore is by far one of the Greenest cities I have lived in.  I love to drive on the expressways because the trees form a natural tunnel that lets in patches of sky.  Some roads are so scenic that I could miss my turn if not for my GPS.
5. Driving on the Right Side:  At first I really disliked driving here but as time goes by I am getting the hang of it.  I think it is easier to use your mirrors while driving from the right.  Something about being right eyes dominate helps you see the side mirrors.
6. Shopping, Shopping:  Singapore has enough malls in such a small city/nation that I don't think I will ever run out of places to go on a hot, humid day.  Plus because all the major, high end brands are coveted here, you get exposed to a variety that you don't get in most cities.  If you get a chance to visit then check out Vivo City.  If you don't get lost, you will be able to tell others all about it.

This is a pretty short list but I will add more as time goes on.  I have only just begun the living together stage so I am sure there will be more epifanies in the future.  I just know that there is more to Singapore then just the Merlion and F1.