I hope you read the news that residential
prices are finally coming down. For the record, in my blog, I repeatedly shared
with you that asset prices are due for a correction. I hope you took my advice
and lightened up on your property portfolio. I certainly did. I have been taking care of all my property
students for the last 4 to 5 years. In those few years, all they had to do was
to follow my forecast trend and all of them made money. Even though I only made
one forecast a year in the real estate market, that annual forecast has made my
students a lot of money. From premium condos to commercial property to Iskandar
land, a few of you have followed me steadfastly and I’m happy that you managed
to create all that wealth. If you think the fall is worrying, you should be
scared. The Federal Reserve will taper QE even more aggressively given the
latest numbers and the situation will get worse. Someone asked me if the
government rescinding cooling measures will perk things up and I told him a
definite NO! Why? Things are where it is due to a series of trends like China
tightening, QE and low costs of funds in Singapore. We are witnessing a
reversal of tides and you should be prepared.
I just bumped onto this gentleman after
church yesterday. By the way, I’m in church everyday at Saint Andrew’s
Cathedral as it is where I find peace and get inspiration. I was at the Tumi
store when he asked if I’m Andy Ong. I politely replied him yes and he
proceeded to ask me a barrage of property questions and most importantly he
wanted to attend my course. I told him that I don’t share anymore and wished
him a Happy New Year. I have so many requests to teach as my deals get
unwounded and the returns have astounded even market professionals. However, I
pay a price. It is tiring watching trends that I do. I must admit I enjoy it
but being responsible to those I share with is huge. I wake up every morning to
CNBC and Bloomberg TV. And everyday is endless scrutiny of numbers.
Whilst I’m happy to share what I’m
doing(I’m still doing deals), it is quite draining. I am about to move into my
new office and my team is looking forward to their new home. The business has
grown so substantially that I am glad that the people in charge has stepped up
and made things work. I am extremely proud of them. We now hire over 300 people
and the business is expanding at a pace that is quite scary to me. However,
growth also means opportunity and I’m proud that people like my ex-PA, Claire,
can now assume director level positions. I’m proud of them and hope to create
more opportunities for them in the future.
Till the next blog, take care and God
bless!
Your Friend
Andy Ong10/01/14
