Monetisation of HDB flats - amended

I have been quite positive about monetisation of HDB flats...until the government amended the eligibility age to 65 on 17 Aug 2014. (please visit the HDB website)

Just before the ND Rally speech on 17 Aug 2014, the eligibility age was at 55.

I am positive of such a scheme because I thought the $20,000 bonus would see many people through from 55 to 65.

Zagy was still talking about sellers worrying about out-living the lease buy-back on 16 August 2014. Why would a dying 85-year-old worry on behalf of the government?

To add salt to injury, the "experts" are still talking today (19 Aug 2014) about out-living the 30-year lease retained because either they too have been blind-sided or are too lazy to update their spin-doctoring.

Strangely, the eligibility age for studio apartments still remains at 55. The Silver Housing Bonus for down-sizing too remains at 55.

How could the government make such a big change at the snap of a finger? Or some civil servant made a big mistake.

Edited: They have just updated the annex B to reflect 65 years for the SHB as at morning of 19 Aug 2014. LOL!

They change the rules like changing clothes. Do u realise that the pledging of property policy was changed twice.?

phouse3 said:

I have been quite positive about monetisation of HDB flats...until the government amended the eligibility age to 65 on 17 Aug 2014. (please visit the HDB website)

Just before the ND Rally speech on 17 Aug 2014, the eligibility age was at 55.

I am positive of such a scheme because I thought the $20,000 bonus would see many people through from 55 to 65.

Zagy was still talking about sellers worrying about out-living the lease buy-back on 16 August 2014. Why would a dying 85-year-old worry on behalf of the government?

To add salt to injury, the "experts" are still talking today (19 Aug 2014) about out-living the 30-year lease retained because either they too have been blind-sided or are too lazy to update their spin-doctoring.

Strangely, the eligibility age for studio apartments still remains at 55. The Silver Housing Bonus for down-sizing too remains at 55.

How could the government make such a big change at the snap of a finger? Or some civil servant made a big mistake.

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tanakow said:

They change the rules like changing clothes. Do u realise that the pledging of property policy was changed twice.?

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If they refuse to change, the PAP is accused of not listening the the people. What the hell do sinkies really want?

Vile pappies want sinkies to work non stop until old to pay for hdb pigeonhole.
After decades of slogging you finally pay off your 卖身栔.
Then when you can no longer work anymore they say you must pawn your only asset back to them for monthly allowance.
Pappies huat ah!

Leongsam said:

If they refuse to change, the PAP is accused of not listening the the people. What the hell do sinkies really want?

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according to the last GE results, 40% of Singaporeans want PAP out.

Leongsam said:

If they refuse to change, the PAP is accused of not listening the the people. What the hell do sinkies really want?

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PAP to change according to the dictates of the people. Isn't that how government should behave? Simple concept of democracy and the PAP can't even conform.

PAP put in changes for their benefit, not that of sinkees. See the problem?

Like this you also cannot understand?

The economic slut wants to make sure these balless Sinkie who owe the HDB Ah Long or bank Ah Long fully paid up their pigeon hole before thinking they can moni-tar-rise their hole to get some cash just to pull thru their pathetic lives.

Leongsam said:

If they refuse to change, the PAP is accused of not listening the the people. What the hell do sinkies really want?

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I doubt anyone asking for validity at age of 65.
Why can't the policy be remained at age of 55?

Monetisation of HDB truly benefits one party only, and that is the government.

Sell you house at a profit, then stay where? So in fact, most are not selling their flats. As LHL just said, we monetise your flat, but don't sell it or you'll suffer in future. Then monetise for fuck?

Considering that they are now selling BTOs at such a high price that correlate with resale prices, who benefits more from the rise in prices?

PMPunk said:

phouse3 aka Dogtor Joseph Ong Chor Teck reveal his true PAP colours that's why he whack WP for so many years! LOL

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You wayang people like to repeat a lie.

Just go read Gerard Giam's blog. He cannot be taken seriously.

winnipegjets said:

PAP to change according to the dictates of the people.

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Democracy means you listen to the majority and 60.1% endorse them to the hilt.

Leongsam said:

Democracy means you listen to the majority and 60.1% endorse them to the hilt.

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60.1 percent in a fraudulent election!

winnipegjets said:

60.1 percent in a fraudulent election!

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It'll be 70% at the next election.

In the beginning, HDB flat was to provide a roof over our head and CPF was to for retirement.

The 90s brought asset enhancement and ballooning flat price. Everyone was elated. However, it came with a huge cost - high inflation.

Those who played the market by buying a second property benefited because property price increases faster than inflation. Those who held on to their only property find their effective CPF saving being eroded by inflation. Those who sold their cheap flat and upgrade to a new expensive one are saddled with insufficient CPF for retirement. But at least they still got to enjoy the cash made when they sold their flat. However, they actually didn't make any money. It is just a form of early withdrawal of their CPF because what they have pocketed is replaced by a loan of same amount and in most cases even bigger. The young ones are the worst off because their first flat is already expensive.

Looking back, it may be wiser if there is no assets enhancement. Let HDB flat be solely a roof over the head and CPF be for retirement. We will then not have problem of people having not enough for retirement and ever increasing minimum sum. We will not have to move out of the home we are so use to, or remortgage our flat, just to generate money for retirement. Sadly, the clock can't be turned back as our reserve is hinged on the value of the property. It is not a nice situation to be in.

If the white scums were to disallow the CPF to be use for their HDB pigeon hole buying , what do you think would happen?

The Sinkie would be homeless?

Or the Papies have less to line their own pockets with huge salaries?

Or none of the above? LoL

phouse3 said:

You wayang people like to repeat a lie.

Just go read Gerard Giam's blog. He cannot be taken seriously.

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LOL Dogtor Joseph, did u get to fuck the sister of the girl who complain against u??

I don't know if you guys realised that what PAP is trying to do here is to squeeze until you are dry and dead, take the HDB back, demolish it later, rebuild it and squeeze dry the next generation.
Smart way of covering up and reuse the land.

Getloud said:

I don't know if you guys realised that what PAP is trying to do here is to squeeze until you are dry and dead, take the HDB back, demolish it later, rebuild it and squeeze dry the next generation.
Smart way of covering up and reuse the land.

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I don't look at it that way at all. Nowhere else in the world can you get a roof over your head with all the modern amenities without any cash outlay whatsoever.

Singaporeans should consider themselves to be very lucky.

Getloud said:

I don't know if you guys realised that what PAP is trying to do here is to squeeze until you are dry and dead, take the HDB back, demolish it later, rebuild it and squeeze dry the next generation ...

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u tel sinkies tis problem now, dey wil rook @ u wif a blank face ... dey can oni c how much their flats haf increased in price now ... dey wil understand oni wen it hits dem hard in ze face personally, juz like cpf ... juz wait 4 time-bom 2 tick until ze 1st flats gets close 2 demolishing time ...