Last few days.... I have been going thru the company profiles of property counters and realised that there really is a too much projects half sold, un-sold or waiting to be launched.... Super Glut!Sorry to say.... But BB72 is right.... How long can the developers hold? How much losses can they endure.... Being highly geared in a recession is very dangerous. Using common sense will tell that recession loses jobs, recession loses businesses, recession brings down valuations. Property market Trend for 2009 is definately down. My banker and some agents tell me the same thing, which is valuation is going down and down. Apparently The Esta in katong has already hit 800psf