Shit Times reporter "Home Ownership a pipe dream for many in the US" LOL

Leongsam · Feb 10, 2015

xpo2015 said:
Owning a flat in SG is lumpsum prepaid rentals Lah. And there are many restrictions with what you want to do with it because the CB garmen wants to control every damn things.

Restrictions regarding what you can do with your own property exist the world over even for freehold property.

For example I own the home I currently live in but I am not allowed to build a fence around it higher than 2 metres, I can't cut down a native tree sitting in my front yard even though it's on my land, I can't paint it purple, I can't add another floor or another garage etc etc.

These sorts of restrictions are for the good of the overall community. The HDB is no different. If everyone could do what they wanted with their flats, there would be chaos.

frenchbriefs · Feb 10, 2015

whats the point of owning a home in US when their houses are worth shit and the property market at all time low?not to mention housing market in US since the 1950s has not appreciated much,merely kept in line with inflation.

and its not a pipe dream to own a home in US,the home market is oversaturated from the last housing bubble.u can easily get a almost brand new 1000sqft home for 100k.

sleaguepunter · Feb 10, 2015

Leongsam said:
In Singapore, because of the wonderful CPF scheme, no cash down payment is required. In fact, first time buyers are given an extremely generous grant of up to $40,000. The details of this scheme are at http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatAdditionalCPFHousingGrant?OpenDocument

As you can see from the facts above, Singaporeans are indeed blessed and this is all thanks to the government taking excellent care of its citizens and ensuring that everyone has an affordable roof over their heads when they start out in life.

I'm sure you can now understand why Singaporeans are envied by the rest of the world. It's because they are so well taken care of by their government.

Ah Leong, the $40k grant not easy to get as there are conditions to meet. <<Your average gross monthly household income for the 12 months period must not be more than $5,000.>> that $4800 per month with only AWS already cannot get this grant. surely a couple with diploma can get $2500 per each after few years working experience.

by the way, couples who income who can only get bank loan have to put up 5% of the property purchase price in CASH.

Leongsam · Feb 10, 2015

frenchbriefs said:
whats the point of owning a home in US when their houses are worth shit and the property market at all time low?not to mention housing market in US since the 1950s has not appreciated much,merely kept in line with inflation.

and its not a pipe dream to own a home in US,the home market is oversaturated from the last housing bubble.u can easily get a almost brand new home for 100k.

It is far better to own an HDB flat. It's value appreciates at an astronomical rate. Many Singaporeans have cashed out thanks to the PAP and now live a life of luxury.

frenchbriefs · Feb 10, 2015

Leongsam said:
It is far better to own an HDB flat. It's value appreciates at an astronomical rate. Many Singaporeans have cashed out thanks to the PAP and now live a life of luxury.

so whats the point of talking about home ownership of a country when u main purpose is to cash out and live a life of luxury elsewhere?

Leongsam · Feb 10, 2015

frenchbriefs said:
so whats the point of talking about home ownership of a country when u main purpose is to cash out and live a life of luxury elsewhere?

Isn't that what owning assets is all about??? You certainly have a warped idea of life.

eatshitndie · Feb 10, 2015

Papsmearer said:
Don't use your Palo Alto bullshit. Its one of the most expensive area in the US. Why don't you use other states? Some of my friends in S'pore bought a freehold apt on the golf course in Orlando for around USD$80,000. Another one bought several properties in Phoenix Arizona, some as cheap as $40K. All freehold. Why don't u use those examples instead?

who wants to live in those shit loser places such as orlando and phoenix where the average iq is below 100, jobs are minimum wage, no scenery, and terrain is flat. moreover to get to europe or the far east, it will require at least a stopover in newark and los angeles to hop on a transoceanic flight respectively. even going to latin america from these shit cities is troublesome. what's the point of living in these places when all one does is go to theme parks in orlando and hide at home with air-con on in phoenix all summer.

Leongsam · Feb 10, 2015

eatshitndie said:
who wants to live in those shit loser places such as orlando and phoenix where the average iq is below 100, jobs are minimum wage, no scenery, and terrain is flat. moreover to get to europe or the far east, it will require at least a stopover in newark and los angeles to hop on a transoceanic flight respectively. even going to latin america from these shit cities is troublesome. what's the point of living in these places when all one does is go to theme parks in orlando and hide at home with air-con on in phoenix all summer.

What Papsmearer does not understand is that high prices reflect the desirability of a location while low prices indicate an area where demand is low.

Prices in Singapore are high because it is such a wonderful place that everyone wants to live there. This, of course, is thanks to the PAP.

frenchbriefs · Feb 10, 2015

Leongsam said:
Isn't that what owning assets is all about??? You certainly have a warped idea of life.

U misunderstood me.we are talking about a country's population achieving full home ownership rates for all.isn't that meaningless if at the end of the day the governments only purpose is to create a unhealthy bubble of speculation and inflation and saddle their citizens with the highest housing debt in the world just to have a roof over their heads?there are bigger things than just money like national identity and culture and pride.I know u fancy urself as a international vagrant but at the end of the day u still chose new Zealand as ur home in good times or bad having resided there for nearly 20 years.

neddy · Feb 10, 2015

Leongsam said:
You're the one who's retarded. This issue was put to bed a long time ago. I won.

You can own leasehold property just as you own freehold property. If you didn't own and HDB flat, you wouldn't be allowed to sell it on the open market and pocket the profit.

The lease holder are also referred to as tenant or lessees
Freeholder are landlords or lessors.

The lease holder has the landlord, HDB, permission to sell in the Open Market.

Similarly, don't mistaken a warrant for a share.

Leongsam · Feb 10, 2015

neddy said:
The lease holder are also referred to as tenant or lessees
Freeholder are landlords or lessors.

The lease holder has the landlord, HDB, permission to sell in the Open Market.

Similarly, don't mistaken a warrant for a share.

When you buy a leasehold unit, you own the lease be it 99 years, 999 years or 9999 years.

Bonds mature too but nobody suggests you aren't the owner of the bonds you purchase.

Same goes with COE. COEs last 10 years but if you bid successfully, you own that piece of paper.

frenchbriefs · Feb 10, 2015

Leongsam said:
When you buy a leasehold unit, you own the lease be it 99 years, 999 years or 9999 years.

Bonds mature too but nobody suggests you aren't the owner of the bonds you purchase.

Same goes with COE. COEs last 10 years but if you bid successfully, you own that piece of paper.

Lease and coe has a decay effect,bonds don't.amazing logic there bro.

Plus lease and coe only grants u permission to use that property for a certain number of years,nobody actually owns anything.

So in reality we are just trading pieces of paper around that has a depreciating value over time.

Leongsam · Feb 10, 2015

frenchbriefs said:
Lease and coe has a decay effect,bonds don't.amazing logic there bro.

Plus lease and coe only grants u permission to use that property for a certain number of years,nobody actually owns anything.

So in reality we are just trading pieces of paper around that has a depreciating value.

Bonds can become worthless too. :rolleyes:

frenchbriefs · Feb 10, 2015

Leongsam said:
Bonds can become worthless too.

Sure the world might end tomorrow too :/

Leongsam · Feb 10, 2015

frenchbriefs said:
Sure the world might end tomorrow too :/

My point exactly. At the end of the day it makes no difference whether a property is leasehold or freehold. As long as there is strong demand, property will appreciate leasehold property included. If a giant comet was headed towards earth to end life as we know it within months, all property would become worthless

In order for demand to be strong and for property to appreciate, there must be a perception of stability and the PAP provides that in spades.

That's why I always say PAP is the best!

Asterix · Feb 10, 2015

All these stone manors are brand new and cheap by Sinkie standards. We are talking about freehold landed properties baby. I was told that in order not to be a US person for tax purposes, besides not having a US passport or green card, one should take care never to spend more than 120 days in any calendar year in that vast and beautiful country. Bearing that in mind, I can put on my cowboy hat and pretend to be JR Ewing.

http://www.lennar.com/new-homes/texas/dallas-ft-worth

[video=youtube;Z9Qu-YUx3Y0]https://www.youtube.com/watch?v=Z9Qu-YUx3Y0[/video]

Tuayapeh · Feb 10, 2015

If you have an old habit of competing and comparing yourself with others, then you are still living your life like a sperm. GROW UP!!

eatshitndie · Feb 11, 2015

Leongsam said:
What Papsmearer does not understand is that high prices reflect the desirability of a location while low prices indicate an area where demand is low.

Prices in Singapore are high because it is such a wonderful place that everyone wants to live there. This, of course, is thanks to the PAP.

in terms of desirability of location, sg ranks up there with nyc and the sf bay area, yet young couples can still afford modern, build-to-order, multi-room homes at a small fraction of what the same units will cost in nyc and the sf bay area, thanks to the hdb and the pap.

ginfreely · Feb 11, 2015

Leongsam said:
In NZ, a $50,000 (20%) cash deposit is required before a housing loan can be granted for the purchase of a $250,000 house. Young families starting out in life don't have that sort of money so they end up being stuck in the rental market for many years and in some cases, forever.

In Singapore, because of the wonderful CPF scheme, no cash down payment is required. In fact, first time buyers are given an extremely generous grant of up to $40,000. The details of this scheme are at http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatAdditionalCPFHousingGrant?OpenDocument

As you can see from the facts above, Singaporeans are indeed blessed and this is all thanks to the government taking excellent care of its citizens and ensuring that everyone has an affordable roof over their heads when they start out in life.

I'm sure you can now understand why Singaporeans are envied by the rest of the world. It's because they are so well taken care of by their government.

Not true, they don't take care of everyone to have an affordable roof over their heads when they start out in life. Singles have to rent or live with parents until aged 35 and above. That is very old age and a long period of time to be without a roof over their heads.

Papsmearer · Feb 11, 2015

eatshitndie said:
who wants to live in those shit loser places such as orlando and phoenix where the average iq is below 100, jobs are minimum wage, no scenery, and terrain is flat. moreover to get to europe or the far east, it will require at least a stopover in newark and los angeles to hop on a transoceanic flight respectively. even going to latin america from these shit cities is troublesome. what's the point of living in these places when all one does is go to theme parks in orlando and hide at home with air-con on in phoenix all summer.

Don't change the subject. The thread title says that home ownership in the US is a pipe dream. You then posted an example of a Palo Alto fixer upper to prove the point. I refuted that by saying that there are many places in the US such as Orlando and Phoenix where home ownership is very affordable. You then come out with "who wants to live in these shit loser places". That is your opinion. I have been to both those places and I have no problems with those cities. rather then mixing with all the apunehs in silicon valley, I have no issues with those places. Stay on point here.

Shit Times reporter "Home Ownership a pipe dream for many in the US" LOL

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