Khaw: New flats still affordable

[Fook Seng]

It is you who don't get it sir. If its not afoordable, why so many people queuing to buy?

That is a fallacy in logic. Those people who queue need a roof above their head which was denied them from the previous minister. These are pent up demand. When 30 years ago you can buy a condo (not shoe box, larger than an executive apartment) on a 10-year loan even at 8% interest on a single salary and now you need a 30-year loan at 3.75% interest using two salaries for a 4-room HDB flat. How can you call that affordable now? The irony is this is after a $60k "subsidy". There is every danger that that loan can go into default and many actually did. Any wonder why Singapore's domestic economy cannot be driven up without resorting to casinos? Too much of our money has gone into housing.

 

[Kinana]

That is a fallacy in logic. Those people who queue need a roof above their head which was denied them from the previous minister. These are pent up demand. When 30 years ago you can buy a condo (not shoe box, larger than an executive apartment) on a 10-year loan even at 8% interest on a single salary and now you need a 30-year loan at 3.75% interest using two salaries for a 4-room HDB flat. How can you call that affordable now? The irony is this is after a $60k "subsidy". There is every danger that that loan can go into default and many actually did. Any wonder why Singapore's domestic economy cannot be driven up without resorting to casinos? Too much of our money has gone into housing.

If they cannot afford it, why waste time queuing??
Do they get a free flat by queuing?
Who isn't getting the point here?

 

[po2wq]

... Who isn't getting the point here?

nobody interested in getting ur points here ...

 

[Kinana]

nobody interested in getting ur points here ...

you not interested then why you bother?

 

[po2wq]

you not interested then why you bother?

sumbody haf 2 do ze dirty job in letting u noe ...

 

[Kinana]

sumbody haf 2 do ze dirty job in letting u noe ...

thats right, you are dirty. ahahahahahaha......................

 

[po2wq]

thats right, you are dirty. ahahahahahaha......................

job was dirty ... dirt cums from u ...

 

[hylambobat]

What affordable? Try it on my salary :(

 

[Missile]

The irony is this is after a $60k "subsidy".

Too much of our money has gone into housing.

A $800 pay can buy you a flat? What's going on?

 

[Char_Azn]

What affordable? Try it on my salary :(

http://esales.hdb.gov.sg/hdbvsf/eampu11p.nsf/0/12NOVBTO_page_8931/$file/12NOVBTO_about0.htm



Quick calculation

Average couple earning 2K each. Paktor 3 years wait for BTO 3 years. CPF will have about $65K(2K * 2 person * 6years * 23%)

Assuming buy BTO 3 Rm at Compassvale $151K(not including grant) - $65K = $86K

$86K @ 10yr loan @ current CPF interst rates 2.6% = Total interest $12K

Monthly Installment $800+

Should be able to use CPF pay in full. Finish paying at 40

I don't think that's too bad

 

[Fook Seng]

If they cannot afford it, why waste time queuing??
Do they get a free flat by queuing?
Who isn't getting the point here?

If you have no money do you still eat?

 

[LeMans2011]

http://esales.hdb.gov.sg/hdbvsf/eampu11p.nsf/0/12NOVBTO_page_8931/$file/12NOVBTO_about0.htm

View attachment 7843

Quick calculation
Average couple earning 2K each. Paktor 3 years wait for BTO 3 years. CPF will have about $65K(2K * 2 person * 6years * 23%)
Assuming buy BTO 3 Rm at Compassvale $151K(not including grant) - $65K = $86K
$86K @ 10yr loan @ current CPF interst rates 2.6% = Total interest $12K
Monthly Installment $800+
Should be able to use CPF pay in full. Finish paying at 40
I don't think that's too bad

Once again you have proven to be a PAP porlumpar.
Firstly your 12k interest calculation is wrong => maths fail.
Secondly expecting a couple to live in 3 rm flat till 40 years old is ridiculous.
For goodness sake, this is a 3 RM HDB, it should be paid off with spare change and not till 40 years old.

 

[scroobal]

"But for the moment, I think I would regard the achievement that we have been able to bring about, this cost increase of just 12 per cent versus the 34 per cent increase, as quite an achievement. I think not enough credit has been given to my ministry," Mr Khaw said.

I found the above statement a shocker!!
- the word "achievement" appears twice to bring about a 12 % increase
- tells me that cooling measures are not working
- they have come to stage of trying to make a negative a positive.

 

[LeMans2011]

People need to have enough sense to understand it is not just about MBT or KBW.
It is the whole fucking machinery's co-ordinated policy to sell the country to the foreign rich and exterminate the poor.
Really. If you are too poor, you cannot afford to have kids and your descendants will eventually disappear.

Some idiots just dont realise the importance of voting against them but prefer to stir up chaos among opposition.

 

[SecurityGUARD]

Forget it lah, flats can never be affordable when wages get hit by inflation yearly.

 

[WHITEWOLF]

Flat price is manipulated by the artificial land price.

 

[Char_Azn]

Once again you have proven to be a PAP porlumpar.
Firstly your 12k interest calculation is wrong => maths fail.
Secondly expecting a couple to live in 3 rm flat till 40 years old is ridiculous.
For goodness sake, this is a 3 RM HDB, it should be paid off with spare change and not till 40 years old.

Yes U are right, it's $11,756 I rounded off so that it's easier to post(calculator link below)
http://www.cpf.gov.sg/cpfhsg/Hsg_totInt_calc.asp

I am using the example of a lower middle in come family. So they buy smaller flat. Nothing stopping them from upgrading if they want to when they make more money later in life. And there is nothing shameful about living in a 3 Rm flat. I have many friends who grew up in 3 Rm flats. It's a matter of choice. U can buy a smaller flat and have more cash for retirement or U go with a bigger flat. Someone claims the flat is not affordable and everyone has to pay 30yrs for it. My post is just a simple example of how untrue that statement is.

 

[sirus]

I found the above statement a shocker!!

- they have come to stage of trying to make a negative a positive.

Very simple Negative and Negative give you Positive rite?

 

[Cestbon]

Yes U are right, it's $11,756 I rounded off so that it's easier to post(calculator link below)
http://www.cpf.gov.sg/cpfhsg/Hsg_totInt_calc.asp

I am using the example of a lower middle in come family. So they buy smaller flat. Nothing stopping them from upgrading if they want to when they make more money later in life. And there is nothing shameful about living in a 3 Rm flat. I have many friends who grew up in 3 Rm flats. It's a matter of choice. U can buy a smaller flat and have more cash for retirement or U go with a bigger flat. Someone claims the flat is not affordable and everyone has to pay 30yrs for it. My post is just a simple example of how untrue that statement is.

Agree. Nothing wrong living in 3 room.
If small family or less than 4 person. Is ok.
Flat less than $200k is affordable to all after grant only about $150k.
Family income of $3k will no need to pay cash.
There are those want to buy $400k flat that feel that very expensive but they have choice.

 

[Loofydralb]

Actually is not Mr. Khaw fault. Is chee bye MBT fault for 2 term(10 year) in charge of HDB only built less than 30k unit of HDB.
Mr. Khaw now cleaning the mess leave by MBT.
At least KBW built at least 20k~30k unit/year. Just maintain 25k unit/year for the next 10 year will bring down the price to 2009.

Just like SMRT breakdown all SHIT is cause by previous minister and management. Now current minister and management will have to clean up.

Thats a big lie. KBW is just as culpable as MBT in the continued screwing of housing policies.

The lack of building new housing precipitated the rise and inaffordability, but subsequently, KBW did not put in measures to mitigate the price escalation while he builds.

In a way he purposely allowed the rise, even with the benefit of MBT's hindsight.


That alone detrmines his performance is worse than MBT.

I doubt anyone can do.worse than KBW. Until today he has not come out with a new policy direction to take us into the next few decades, taking in view of new realities.

What we are relying on are policies crafted in the 60s to take us forward.

Wake up KBW, admit it that youre just not cut out for the job and is absolutely clueless and has run out of ideas.

Arent you shameless taking that million dollar salary?