Thursday, November 13, 2008

think it is similar to 96-98 situation. Private prop dips after Asian Crisis outbreak. HDB prices remains firm. After jobs losses come, HDB prices also come off.I guess this time round, banks will be more 'ruthless' in credit collection/enforcement if they got the 1st charge over CPF. Unlike during Asian Crisis, bankrupt the borrowers , money still go back to CPF

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