Ridiculous HDB Prices
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Originally posted by 4sg:
Angel, as I said, the population intake has nothing to do with our low fertility. If it was low fertility, the govt would have stopped the population inflow long time ago. We have crossed the population replacement mark long time ago. Instead, and as of now, we have become the densest place on earth. This is what Singaporeans gripping about and they all have valid points.
It is all about increasing our GDP of which our ministers pays, bonuses are tied with. GDP is one of the tools of measuring our country's performance BUT not the only measurement of our economic well being. (If you want to more go read books by Prof Joseph Stiglitz, a renowned Nobel prize winner, World Bank's chief economist, Clinton’s economic advisor, professor and writer.)
People to perk up a house? You must be joking. I only know woman’s twin peaks can be perked up. Use simple words lah, make up, you mean?
This is a juvenile reasoning. By this reasoning, we should all join USA or China than we can all make even more capital gain.
Our economic don’t thrive by stimulating domestic consumption thru local born or foreign born Singaporean consuming more goods and services.If you are talking about your bar – yes but we are talking about the country.
Domestic population is too small to soak up all of our industries output. To give you give an example and using the last US led recession, even if the govt increases our population from the 5 million to 6 million and beyond, the recession would still bite.
China can. As with the last USA’s export of global recession, China can withstand this onslaught by stimulating its own domestic market to soak up the excess industrial capacity.
Increase more people into a country without adequate supply of amenities, utilities and services results in ‘artificial’, unwanted inflationary pressure. Which Singaporeans are complaining now. Our economic depends on global demand.
Their future is to see that they remain as kingpin, kingmaker, and king with their packets lining with fats from the economy – simple as that.
Please, don’t call me dear. Wait people think I ever had some illicit affair with you, which I don’t. While, in realty, I don't know if you are some lassy or old haggy.Call you dear is a respect, in US, i call people darling, and life goes on as happy as ever. What so scare about calling you dear? We are not the PAP elites, so dun worry.
As i said, low fertility rates is one of the factor, there are many other factors that contribute to the decision of opening our gate to foreigner, and aging population is one of them, shortage of labour talent workforce is one of them, and I can also agree that by getting more people here, spending will increase and GDP will rise, but all in all, it is good for the country. Not that domestic consumption can increase GDP, but the low cost production help to leverage the export and manufacturing. Yet, with good services and foreigners friends and relatives visiting, our tourism and transportation industrial can also benefits from it.
Again, as I said, nobody like a stranger into his/her house, but if you take a long term view, you see the benefit of it, therefore instead of cursing and grumbling as always a typical sg uncle like you, why not take the advantages of the growing population, who come with wealth creation that you and me can tap on one way or the other.
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Alot of my relatvies very happy cos their house value increase.
But those who firstime buy house gt to pay for a long time to own the house.
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Originally posted by Positron:
Alot of my relatvies very happy cos their house value increase.
But those who firstime buy house gt to pay for a long time to own the house.
please remember, for HDB, you dun own the house or so called flat, you lease, even if you had paid finished, you are still under leasing. So, if you can get this straight, then you dun mind paying for a long time...afterall, you dun own it. -
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Everyone has a life to handle, it up to them, leave, stay or remain as complainer or loser, is all up to you. Everything has a light at the end of the tunnel, but didn't your teacher or some senior taught you that the light you see, might be the end of a cliff cave.
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Ahh.. best statement from angel.. This time I really really agree with you on this. Unlike some arrogant bast*rd and Bit*h in here..
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Praising can be poisoning, are you poisoning me??
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Don't worry about rising HDB prices.
Our median salary will reach $3,000 plus per month in the next 10 years or so.
The people at the top promised.
We will be able to finally afford that 3 room flat costing half a million dollars.
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Demand pull inflation.
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Originally posted by charlize:
Don't worry about rising HDB prices.
Our median salary will reach $3,000 plus per month in the next 10 years or so.
The people at the top promised.
We will be able to finally afford that 3 room flat costing half a million dollars.
Don't worry, in about 5 to 10 years time, that 3 room of your will worth a million. Just look at it from the perspective of that book value, and you will be a very very happy person, and then you can tell yourself, its worth my slaving for this govt
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Originally posted by βÎτά:
Demand pull inflation.
Supply pull deflation -
Originally posted by Positron:
Alot of my relatvies very happy cos their house value increase.
But those who firstime buy house gt to pay for a long time to own the house.
why go buy first time house?? rent and wait for parents to pass away lah -
Originally posted by charlize:
Don't worry about rising HDB prices.
Our median salary will reach $3,000 plus per month in the next 10 years or so.
The people at the top promised.
We will be able to finally afford that 3 room flat costing half a million dollars.
no use, wages up will only get makan by e rising property prices.And the scholars still believe it can go up higher w/ projects like MRT. I'm more to think MRT will only become a commonised item, fetching no premium in time to come.
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Originally posted by sbst275:
no use, wages up will only get makan by e rising property prices.And the scholars still believe it can go up higher w/ projects like MRT. I'm more to think MRT will only become a commonised item, fetching no premium in time to come.
Uncle, to the nearest MRT station please. -
Originally posted by angel7030:
Uncle, to the nearest MRT station please.
with more and more MRT lines covering more parts of e island, wun it get more commonised instead?I'm more to think MRT will fetch no premium in time to come.
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Originally posted by sbst275:
with more and more MRT lines covering more parts of e island, wun it get more commonised instead?I'm more to think MRT will fetch no premium in time to come.
it will make our land basement hollow while blocking lots of water channelling and distribution leading to flash flood and so on. Once built, MRT become a low cost operation, just like Phone companies, once on air, they will takes as much customers as possible, the more the merrier. By and large, with the increase of population, car COEs, bus fare increases on longer road and taxis with all kinds of surcharge here and there,..I have a feeling that our govt, who is not only taking in lots of money from the land and road on the surface, they are also now looking at the underground profits -
Originally posted by angel7030:
1. Are you creating a monsterous govt out of your own individualistic kiasee and kiasu mentality? or
2. Is the Govt created and cultured you to be individualistic in a way that you complain alot and yet you are still the one buying car and lining up the Q for HDB flats?
Both....chicken and egg..... which came first?Kind Regards
Genie
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'Severe asset inflation'
By Melissa Tan
Aug 11, 2009
SINGAPORE risks 'severe asset inflation' during the economic recovery, a local economist has warned.
But this danger can be averted if the Government acts now to control the prices of HDB flats, said Mr Paul Yip, Nanyang Technological University (NTU) associate professor of economics.
Asset inflation - meaning a rise in price of assets such as stocks and property - is a possible consequence of the United States' current expansionary fiscal policy, Professor Yip said on Tuesday.
He was speaking at an NTU symposium - on exchange rate systems and Asian macroeconomic policies - which brought together 11 macroeconomists from institutions such as Stanford University and Delhi School of Economics.
'Many people say that the property market is rebounding, but I don't think so; we are still bottoming. Recovery will be slow ... and a few years later we might have severe asset inflation, much more than the rise today,' Prof Yip said.
'So if you are a stock investor or property investor, it's very easy. Just hold your stock and shares for another three or five years - the price will climb to be much higher. But if you lose money, don't blame me,' he quipped.
Prof Yip noted that the US government has lowered interest rates and expanded its money supply in a bid to avoid a repeat of the Great Depression.
But post-recession, the government may fail to shrink the money base back to pre-downturn levels, he said. In that case, excess US dollars would flood the market.
'For Singapore, there may be an inflow of money from the US, increasing the money base and therefore the money supply... When the recovery comes, there will be wage inflation and consumer price index inflation, and this will fuel asset inflation,' he told The Straits Times.
'Rents will rise and then people will be able to charge even higher rents, causing a vicious circle,' Prof Yip said.
Read the full report in Wednesday's edition of The Straits Times.
Copyright © 2007 Singapore Press Holdings -
Jul 25, 2010
'Imbalance' in resale HDB
By Melissa Kok
THERE is an 'imbalance' in the HDB resale market and it may take around a year or so before prices of resale flats will stabilise.
These comments were made by National Development Minister Mah Bow Tan on Sunday, who was addressing concerns about the prices of HDB resale flats, which have been consistently rising since 2008.
Speaking on the sidelines of a community event in Tampines, Mr Mah attributed the surge to strong economic growth and increased demand from first-time buyers and those looking to upgrade to bigger flats.
'I think at this point in time, there's still an imbalance. I hope that with HDB pushing out a record number of flats this year, this imbalance will be redressed over the medium-term... I would expect in another year or so we should be able to stabilise everything,' Mr Mah said.
Resale prices for HDB flats rose for the eighth straight quarter, surging 4.1 per cent between April and June from the previous January to March period. The median cash over valuation (COV) - the cash amount paid upfront by a buyer over a flat's valuation - also hit a record $30,000 in the second quarter of this year.
To help relieve some of the pressure on the resale flat market, Mr Mah said HDB is building more flats, and assured that there was an ample supply for flats for first-time buyers. HDB has launched almost 9,000 new flats in the first half of the year, and it will launch another 7,200 in the second half to meet growing demand. Another 4,700 new flats under HDB's design, build and sell scheme (DBSS) and recently sold executive condo sites will also add to the supply. In the short-term, Mr Mah said it was hard to tell if prices would continue to rise.
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Today Online
Shorter waiting time and larger supply of flats, says Mah Bow Tan
05:55 AM Aug 31, 2010
by Ong Dai Lin
SINGAPORE - Three years - already a higher standard than in other cities - was the benchmark to beat. Yesterday, National Development Minister Mah Bow Tan made a new commitment: First-time home buyers will get the keys to their flats in two-and-a-half years.
To get this done for projects launched from the middle of next year onwards, the Housing and Development Board (HDB) will streamline internal processes, for instance, by awarding the tender sooner and speeding up the Build-to-Order (BTO) selection exercises, Mr Mah said.
The shorter waiting period and a record number of units next year for executive condominiums and the Design, Build and Sell Scheme, in addition to BTO flats, were among the key announcements on housing policies set out by Mr Mah.
These moves, analysts said, would have the widest bearing on the current supply-and-demand imbalance in public housing that Mr Mah had previously described. HDB resale flat prices could fall from their current record high, they said.
Asked if the new housing measures were a response to ground sentiment that housing will be a hot topic in an upcoming election, Mr Mah said: "If you ask me whether it has got anything to do with the elections, the answer is yes. Everything has got to do with the elections."
The waiting period is being shortened even though the selection exercise for BTOs is a "very time consuming process". Mr Mah explained that the HDB would check on the eligibility of every applicant.
Demand will also be met through 4,000 DBSS flats and 4,000 ECs, to be located across the island, including in Tampines, Yishun and Jurong West. This is on top of the 22,000 BTO flats HDB will offer next year and the 16,000 BTO flats this year.
Calling the numbers substantial, Mr Mah gave this analogy: "In two years, we're going to build, if the demand is there, a new Toa Payoh."
Prime Minister Lee Hsien Loong had flagged off the changes at the National Day Rally on Sunday, when he said the income ceiling for DBSS flats would be increased to $10,000 from $8,000 for the "sandwiched" group.
Analysts told MediaCorp the upgrading dreams of homeowners would be restored to some extent. They noted that a consequence of a rising price market would be the dampening of Singaporeans' "upgrading aspirations", as an analyst put it.Read the rest @ http://www.todayonline.com/Singapore...ys-Mah-Bow-Tan
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all blame foreigner lah.
they come in make COV very high and then get the flat. we singaporean will be jobless and flatless.
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Originally posted by Fire Cracker:
all blame foreigner lah.
they come in make COV very high and then get the flat. we singaporean will be jobless and flatless.
Was it the PM that said Singaporeans are dumb but reliable? Or sumthing similar.Jobless flatless nevermind lar.... so long reliable lol.
Kind Regards
Genie
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Originally posted by βÎτά:
A loan of $200,000 for 30 years at 4.5% interest, at the end of 30 years you would have paid $168,349 in interest.
True lar but also cannot like that say sometimes. With property... if you have the hindsight each year 100k++ capital gain is bery common. That's how I make $.
Kind Regards
Genie
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Originally posted by Genie99a:
Both....chicken and egg..... which came first?Kind Regards
Genie
both dun come first, the cockerel come first. -
http://theonlinecitizen.com/2010/09/hdb-flats-sporeans-come-first/
So sad.
One Singaporean trying to buy a HDB flat to stay in with his mum but is unable to.
Haiz.
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If you take out a $130,000 loan paying $500 a month, you would need at least 35 years to repay your loan.
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if you cannot loan, rent lah, afterall, singapore peoples work long hours, house is just for sleeping and cook maggie mee, so why need to buy. In some fast pace city, people are renting and living in cages or tubes just to sleep, wait up, share a common toilet and go to work till around midnight.
On the contrary, taking a loan of $130,000, to pay for a 230,000 flat, in 10 years time, the flat would had gone up to $400,000++, sell it off, pay off all the loan, and you still get perhap a $100,000 profit, rent a room and live happily everafter, $100,000 leh, some people work until die also dun have...so, invest now!