26 Feb Foreclosure in Asia

Foreclosure in Singapore, surprise, surprise.

http://www.channelnewsasia.com/stories/singaporelocalnews/view/331177/1/.html

Story of a Singaporean facing foreclosure: Judy Mitchell, a single mom going to lose her home. Even prices of public housing in Singapore is getting unaffordable.

The story in Singapore is the opposite of US. Middleeast, US monies have been flooding the island country, buying all possible Real Estates, commercial, residential, etc. We see funds like Morgan Stanley Real Estate entangled in legal tussles with Singapore home owners.
Singapore/HK/Asia is where the Banks stash their cash, away from the prying eye of creditors in US.

The price of real estate in Singapore has overshoot those in prime Europe cities like Zurich, London.

In fact Citigroup was poking fun saying that the monies that buy a propety in Singapore next to its tallest hill of less than 100 m can buy a chalet next to Zermatt in Zwitzerland.

In the end, ordinary folks are facing skyrocketing rents, and prices, increasing 100% over a yr.

And meanwhile, there is no sign of retreat in prices.

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Gold retreating towards 927. Interim bottom formed at 927 now rebounding. If Gold retreats towards 900, a lot of retail would be disappointed. Most have been jumping on the wagon late trying to catch the historic 1000.

Now Gold make a sudden spike up towards 938, seemingly consolidation is over and begin another rally towards 980.

US treasury department approved of IMF Gold sales. hence causing the drop, in the face of a defiant Iran, and Turkish invasion into northern Iraq.

Euro retreated only to 1.4750 only, instead of my anticipated 1.4700. My target of 1.5000 remains.

All the world's monies is in Commodities now.

S&P seemingly broke through a downtrend channel yesterday, however lots of skeptics. 1380-1396 seems to be the top of the current rally.

Those who want my Call on Equities, write to me dollarproaragon@hotmail.com

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