Surge in coe prices due mainly to foreign buyers who take away sg jobs

[h=1]THE SURGE IN COE PRICES DUE MAINLY TO FOREIGN BUYERS?[/h]
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21 Aug 2014 - 8:23pm





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Dear TRS,
I refer to: Year-end bumper crop of COEs expected.
I would like to bring to everyone's attention on the above article which was published on ST on 20 Aug 14.

While it appears to be just another article that reports on the unabated surge of COE prices, upon closer scrutiny of the content and you'll read this remark by SIM Uni's transport expert :

SIM University urban transport management expert Park Byung Joon said prices are unlikely to return to the previous lows witnessed in 2006 and 2007, when they fell below $20,000.
It is rather easy to analyse Dr Park's points :

(1) Firstly, Singapore's birth rate has been on stagnate mode if not falling and the sudden drastic increase in population has been achieved by mass influx of foreigners on all scales.

(2) Secondly, Singapore's median income has also been stagnated for many years and if not, also on falling basis. So the argument that Singapore has "more money" to buy cars can be ruled out.

Hence, we can safely conclude that the unabated surge in COE prices is largely due to the exponential growth in foreigners' population, namely FTs who are fully employed and snapping up cars here.

If so, aren't the Foriegners driving out (pun intended) Singaporeans in their hope of owning a car ? Especially for Singaporean families with both young kids and senior parents living under the same roof? Having a car is such a necessity, and not a luxury, to ferry both children and old folks to school and hospitals for medical appointments etc.




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It is timely for us Singaporeans NOW to demand that our authorities review the COE allocation process and that PRIORITY should be granted to Singaporeans first.

NO Singaporean, that has contributed all his/her life to nation building, should have their Rights to own a car being reduced and relegated to a foreigner, just becoz the foreigner has been parachuted into an MNC that has relocated here to take advantage of both our low taxation and lax immigration system.

It is already bad enough for us Singaporeans to compete with foreigners for jobs, housing (limited hdb), education (school places), transport (crammed congested mrt, buses) and now, even to compete for COEs ??

A Super Frustrated Auntie
TRS Contributor

Gov will tell you, where got law say Singaporeans have priority to COE? Only N.S. privilege is reserved exclusively for Sinkies and there is no monthly quota.

Which is what I was saying all along, those jiu hu kias who snatched good jobs in SG are buying SG cars in large numbers to avoid paying VEP, check the causeway and Tuas link on any weekday and you will see huge numbers of SG registered cars crossing over, at least 90% are jiu hu kias.

Foreigners create jobs and drive up property prices to and this results in wealth creation for the whole country sinkies included.

Without foreigners, there would be less jobs for Singaporeans and property prices would stagnate.

Leongsam said:

Foreigners create jobs and drive up property prices to and this results in wealth creation for the whole country sinkies included.

Without foreigners, there would be less jobs for Singaporeans and property prices would stagnate.

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In case you are living in a cave, property prices have stagnated and even depressed recently, my wealth creation is affected.

It is better to be a token hireling in a large corporation than a key executive in a fledgling enterprise. This distaste for risk is shared amonst the people as well as the government. You can't blame the PAP for that.

mojito said:

It is better to be a token hireling in a large corporation than a key executive in a fledgling enterprise. This distaste for risk is shared amonst the people as well as the government. You can't blame the PAP for that.

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very insightful and insulting to sinkies but true. :o

xebay11 said:

In case you are living in a cave, property prices have stagnated and even depressed recently, my wealth creation is affected.

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Well said... Fuck the PAP for slowing down in bring in FTs... We need more FTs to create jobs and create wealth for me... Because they slow down in bring in FTs, I have to work in Penang...

xebay11 said:

In case you are living in a cave, property prices have stagnated and even depressed recently, my wealth creation is affected.

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That's because of a reduction in the influx of foreigners. However, don't worry because property always appreciates over time as long as the PAP in charge because all the pappies are property owners.

eatshitndie said:

very insightful and insulting to sinkies but true. :o

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Yes. People now blame highly paid ang moh expats and their new Malaysian, Thai, Burmese, Indonesian, Pinoy, Cambodian minions for snatching away their privilege of landing a good paying job and owning a car. I say the root cause is the national obsession over "good, well-paying jobs" in these companies. For whom does the bell toll? It tolls for thee. The loss of car ownership privileges is but a hidden cost the society pays for pursuing a policy of creating one good, well-paying job with 10 foreigners on our shores.

mojito said:

Yes. People now blame highly paid ang moh expats and their new Malaysian, Thai, Burmese, Indonesian, Pinoy, Cambodian minions for snatching away their privilege of landing a good paying job and owning a car. I say the root cause is the national obsession over "good, well-paying jobs" in these companies. For whom does the bell toll? It tolls for thee. The loss of car ownership privileges is but a hidden cost the society pays for pursuing a policy of creating one good, well-paying job with 10 foreigners on our shores.

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You are tell us we behave like PAP and Con Hee??? Blame everyone accept ownself???

foreign talents are the best, ang mo are the best, ah neh are the best...

krafty said:

foreign talents are the best, ang mo are the best, ah neh are the best...

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I like Craftsy http://www.craftsy.com/

now you are into women stuff like knitting besides seatless bicycle...

Leongsam said:

I like Craftsy http://www.craftsy.com/

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Yingge said:

You are tell us we behave like PAP and Con Hee??? Blame everyone accept ownself???

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My english too cheem for u?

Leongsam said:

Foreigners create jobs and drive up property prices to and this results in wealth creation for the whole country sinkies included.

Without foreigners, there would be less jobs for Singaporeans and property prices would stagnate.

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So then they should be charged more for COEs and create even more jobs.

With higher revenue from COEs, PAP can take higher salaries, buy more luxury goods and properties, build wider and better roads, the benefits are enormous.

xebay11 said:

In case you are living in a cave, property prices have stagnated and even depressed recently, my wealth creation is affected.

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U the one living in a cave! Property prices have quadrupled over the years and only recently slowed or declined a little bit.

enterprise2 said:

U the one living in a cave! Property prices have quadrupled over the years and only recently slowed or declined a little bit.

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You are a frog in the well, investors always look at performance of latest acquisitions, they don't care about past performance, only concerned with now and how much they will make from now. So WTF are you talking about?