Ridiculous HDB Prices
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Some of the children of HDB owners even persuaded their parents to sell their HDB flats to buy a condo in Singapore, just because they think living in a condominium in Singapore is great...but they forget that they would actually create more debts for their parents or even make themselves in financial difficulties due to the fact that the economy of Singapore may be in great trouble which I see occur in every 4 or 5 years.
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The only way to bring down the HDB flat prices is to disallow HDB flat owners from using their HDB flats as collateral for bank loans to purchase new flats or buying private property, like in the past since HDB is a public housing scheme from the government and subsidize by the government. This HDB flat prices increases in the late 90s when the government allowed the banks to give loans to the HDB flat owners and using the HDB flat as collateral. HDB should go back to the basic again whereby they provide HDB loans to Singaporeans regardless whether they are first or second or third time…HDB flat buyers in the open market. This system would protect the HDB owners from creditors should they go bankrupt. I believe this too would actually bring down the private property market tremendously and reduces the numbers of bankrupt Singaporeans due to investment in the private property market or HDB resale market. Because of letting HDB flats to be use as collaterals and letting the banks to manipulate the property market in Singapore, many Singaporean families were homeless. Remember that HDB flats is only meant for Singaporeans and Singaporeans should refrain and be protected from the influence of buying and selling trends in the HDB resale market for fast profits gain….ended up many too became homeless. http://sgforums.com/forums/10/topics/461075?page=1#posts-10812106
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The way I see it, having a small HDB flat with plenty of money in your bank account is much better than having a condo or a big HDB flat but with huge great debts and no money in the bank.
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BANKRUPTS WILL FIND IT HARDER TO BUY HDB FLATS Those about to go broke, loan defaulters and people laid off are also in the same boat BANKRUPTS, those about to go broke and loan defaulters or those who have been retrenched will find it hard to buy a HDB home - until now considered a basic right of any Singaporean - unless they qualify for a concessionary loan from the Housing and Development Board. A bankrupt hoping to pay off some of his debts by downgrading from a five-room to three-room flat may also be unable to move because banks do not, as a rule, lend to bankrupts. Those who are retrenched and who want to downgrade their homes to reduce their instalment outlays may also be in a similar predicament because banks are unlikely to lend to those who have lost their jobs. Downgraders, under the new HDB rules for market rate loans which start on Jan 1 2003, have to take bank loans. Sum Foong Yee, HDB senior executive public relations officer, said that bankrupts are allowed to buy up to four-room HDB flats. However, if they wish to purchase bigger flats such as a five-room or executive flat, they are required to seek special approval from the Official Assignee's Office prior to the purchase. The Official Assignee's website notes that if a bankrupt wants to buy a larger flat he has to show both the means and the need for such a flat. Others who have to take bank loans include permanent residents, private property owners, those whose monthly household income exceed $8,000, home buyers who have already taken two concessionary loans, and second-time buyers who have enjoyed one concessionary loan but are buying a similar-sized or smaller HDB flat. It is expected that about 20,000 families a year will be borrowing from the banks to buy their HDB homes. Up to now, Singaporeans facing bankruptcy could always take comfort in knowing that there would be a safety net in the form of a HDB flat. It may also be disconcerting for white-collar and middle management employees to know that buying or selling and downgrading a HDB home may no longer be so easy. Tay Chin Seng, an analyst with ING, said: 'It's another whammy for the sandwich class.' It is not just bankrupts who will face a brick wall with bank loan applications; those who have consistently defaulted and discharged bankrupts will find it impossible to pass banks' strict credit checks. Banks generally require credit checks going back three years, at a minimum. Finance companies, traditionally the small man's lender, say they may lend to discharged bankrupts, but only after a period. PropNex chief Mohamed Ismail who handles about 35 per cent of HDB resale transactions said those without a good financial record may now find themselves out in the cold when it comes to bank loans. He worries especially about those who want to downgrade. He said it has always been that one could buy HDB regardless of one's financial commitments. http://www.stproperty.sg/articles-property/financial-guide/bankrupts-will-find-it-harder-to-buy-hdb-flats/a/58763
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Camp at changi beach lor.
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Woodlans Water Front oso can so far no campers that i can see
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Originally posted by Summer hill:
Camp at changi beach lor.
mata will catch.
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Stay at the cemetaries ground is more secure and better. Nobody will disturb you because they will think you are ghosts...lols.
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Originally posted by zulkifli mahmood:
Stay at the cemetaries ground is more secure and better. Nobody will disturb you because they will think you are ghosts…lols.
hmmm....you think the ghosts staying like foreign talents?
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Well, the foreign talents rent in one apartment and share the cost of living together which is quite affordable for them because their salaries are higher than most Singaporeans. They can even save and send money to their families back home. Whereas the Singaporean ghosts they are hungry ghosts..not enough hell bank money to sustain their families food, lodging, daily expenses and even their children education.
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Originally posted by zulkifli mahmood:
Well, the foreign talents rent in one apartment and share the cost of living together which is quite affordable for them because their salaries are higher than most Singaporeans. They can even save and send money to their families back home. Whereas the Singaporean ghosts they are hungry ghosts..not enough hell bank money to sustain their families food, lodging, daily expenses and even their children education.
in the cemetary ground you are the foreign talents....
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Originally posted by zulkifli mahmood:
Stay at the cemetaries ground is more secure and better. Nobody will disturb you because they will think you are ghosts…lols.
lol..but it has a scary feeling with it.
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Originally posted by Summer hill:
lol..but it has a scary feeling with it.
Yes.
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So scary :lol:
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Eeeee.
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Got cockcroach climb into your clothes how?
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Originally posted by sgdiehard: "99 yrs, 999 yrs and freehold lease are all british system, you have the right of land use for the tenure period. These land parcels are within the country, and is governed by the law of the country. HK was returned to China, as China recognized the original lease agreement, even when it is signed with canon pointing at their head. Whether one country two system works or not, it is China to decide." OT - Yeap, the British returned HK to China and the Portugese returned Macau to China. However, I doubt its up to China to decide for Taiwan to be return or reunited with mainland China again looking at the Hongkis unhappiness of one country two system policy. I'm very sure the Taiwanese will take that as a strong indication that it doesn't work very well for the Hongkis and presumably for Taiwanese either.
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I think for those 1st time HDB flat buyer, young couples who intend to get married or already married without children / with one or two children and looking for a BTO HDB Flat or HDB resale flat, the best thing to do right now is to seek for 3 rooms HDB flat in new estates or mature estates. You can upgrade later or sell it later or or downgrade later or don't sell it at all in the future...just go back to the basic of owning a HDB flat for right now and don't look at it as an investment right now.
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http://www.youtube.com/watch?v=GMMXmVyH8x0
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Huat ah.
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Originally posted by zulkifli mahmood:
Originally posted by sgdiehard:
“99 yrs, 999 yrs and freehold lease are all british system, you have the right of land use for the tenure period. These land parcels are within the country, and is governed by the law of the country.
HK was returned to China, as China recognized the original lease agreement, even when it is signed with canon pointing at their head. Whether one country two system works or not, it is China to decide.”OT – Yeap, the British returned HK to China and the Portugese returned Macau to China. However, I doubt its up to China to decide for Taiwan to be return or reunited with mainland China again looking at the Hongkis unhappiness of one country two system policy. I’m very sure the Taiwanese will take that as a strong indication that it doesn’t work very well for the Hongkis and presumably for Taiwanese either.
It is still up to China to decide on how they want to be reunited with mainland China, with consideration for the differences between Taiwan and China, if they decide to do it the hard way, by force, then it is tough for the people of Taiwan, and won't benefit China well either, a lose lose situation which the mainland Chinese decision makers are smart enough to see. Hong Kong Chinese (it is rude to call them Hongkis, ask any Hong Konger) not happy ? they did when their economy was saved by mainland tourists, when they don't have to worry about water supplies...they have their problem and the blessing of having a big market just above them. If we don't know, don't presume.
anyway, this got nothing to do with ridiculous HDB prices. I stop here.
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If you see any of these guys at HBD flat knocking on your neighbour's door, don't be wary...its legal..their debt collectors get paid S$1800 + commission... http://www.jmsrogers.com.sg
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Let's wait for hdb flats to hit 2 million.
7 million population and they tell you not enough labour to build flats.
huat ah.
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Originally posted by zulkifli mahmood:
If you see any of these guys at HBD flat knocking on your neighbour’s door, don’t be wary…its legal..their debt collectors get paid S$1800 + commission…
Got commission.