Both of us had a sleepless night in Boston.
We were thinking about the next move. Is it prudent to go ahead to purchase that apartment? The price (COV) is
incredibly ridiculously (some say) high and with the gloomy economic situations now, with every piece of news we heard hardly encouraging, we are thrust into confusion, again.
And 90% of the people whom we sought for advice have asked us to WAIT. Only two, one being my dad, have commented that if we are okay with it, then go ahead. It’s hard to tell the times right now. During the 2008 economic crisis, it was anticipated that HDB prices would drop but they didn’t. They only escalated, thanks to our wealthier counterparts, either new citizens or those who downgraded from private property (among the few players), sending us into panic attacks.
What’s going to happen next? Will the same scenario surface or will the prices really go down – by how much and for how long?
It is said that prices will drop when there are more supplies than demand which will happen in 2-3 years time or a severe recession which will kill demand. But will the latter happen (honestly, I don’t want that to happen to my country).
We are clueless, frustrated and tired from a lack of proper rest.
What’s next? Should we wait? Is that the only solution?