Sinkie woman sold her 4rm HDB flat made $200k, spent all in 2 yrs
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Am sure there were many others who put their $$$$$ to good use. For example, sending their kids overseas for education etc etc. Report should be objective by reporting on the positives too.
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SINGAPORE — A “worrisome trend” has emerged in the public rental flat scene, with a greater proportion of applicants being former home owners who have had to sell their flats for various reasons.
This group makes up 59 per cent of public rental applicants, up from 52 per cent five years ago, Dr Mohamad Maliki Osman, Minister of State (National Development), told Parliament yesterday.
In a rising property market, or when one is financially strapped, the temptation to sell is very real, he said during the Ministry of National Development’s (MND) Committee of Supply debate.
“But my advice (is) resist the temptation and don’t cash out. Keep your home, protect your nest egg. Life may be harder in the short run, but it will work out,” Dr Maliki added.
In response to calls by several Members of Parliament (MPs) for a relook at the rental housing policy to ensure low-income families and single parents can have a roof over their heads, Dr Maliki said the MND is ramping up supply of rental flats.
However, he added, the ministry would continue to take a “judicious” approach in allocating these highly subsidised rental flats to ensure it “targets help where it is most needed”.
“Will our society support giving them more housing grants than what other families, including lower-income families, receive — if the reason they need more help is because they have used proceeds from the sale of their previous HDB flats unwisely or even irresponsibly?” he asked.
Dr Maliki noted that the public rental policy is meant as an interim “safety net” for those who cannot own a home immediately and have no family support.
The changes the MPs are asking for may result in a “moral hazard”, he cautioned.
“With better outreach and community engagement, we hope home owners will make more informed choices and not be easily taken in by the promise of short-term gains, without realising the serious long-term implications,” Dr Maliki said.
This group makes up 59 per cent of public rental applicants, up from 52 per cent five years ago, Dr Mohamad Maliki Osman, Minister of State (National Development), told Parliament yesterday.
In a rising property market, or when one is financially strapped, the temptation to sell is very real, he said during the Ministry of National Development’s (MND) Committee of Supply debate.
“But my advice (is) resist the temptation and don’t cash out. Keep your home, protect your nest egg. Life may be harder in the short run, but it will work out,” Dr Maliki added.
In response to calls by several Members of Parliament (MPs) for a relook at the rental housing policy to ensure low-income families and single parents can have a roof over their heads, Dr Maliki said the MND is ramping up supply of rental flats.
However, he added, the ministry would continue to take a “judicious” approach in allocating these highly subsidised rental flats to ensure it “targets help where it is most needed”.
“Will our society support giving them more housing grants than what other families, including lower-income families, receive — if the reason they need more help is because they have used proceeds from the sale of their previous HDB flats unwisely or even irresponsibly?” he asked.
Dr Maliki noted that the public rental policy is meant as an interim “safety net” for those who cannot own a home immediately and have no family support.
The changes the MPs are asking for may result in a “moral hazard”, he cautioned.
“With better outreach and community engagement, we hope home owners will make more informed choices and not be easily taken in by the promise of short-term gains, without realising the serious long-term implications,” Dr Maliki said.
The family didn't blow the money on excessive luxuries. They bought a used car. In many countries you can buy an affordable brand new car without ending up in the poor house
They also invested in a business which turned out to be a scam. Why not look into why the PAP has such lax laws that allow such scams in Spore
The husband also got seriously ill. Most of us know that it is better to die, then to get sick in Spore:(
They also invested in a business which turned out to be a scam. Why not look into why the PAP has such lax laws that allow such scams in Spore
The husband also got seriously ill. Most of us know that it is better to die, then to get sick in Spore:(
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The family didn't blow the money on excessive luxuries. They bought a used car. In many countries you can buy an affordable brand new car without ending up in the poor house
They also invested in a business which turned out to be a scam. Why not look into why the PAP has such lax laws that allow such scams in Spore
The husband also got seriously ill. Most of us know that it is better to die, then to get sick in Spore:(
Ok sorry, it's PAP fault
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Let's see....
Has 4 children that is above national average.
Sell HDB because cannot paid mortgage loan.
Got little money quickly go buy weekend car and rent private apartment.
Stupid enough to invest in quick rich scam.
Ended up sleeping in beach.
Then go and see Mat MP.
Ask for rental flat on compassionate ground.
Guess their race?
Has 4 children that is above national average.
Sell HDB because cannot paid mortgage loan.
Got little money quickly go buy weekend car and rent private apartment.
Stupid enough to invest in quick rich scam.
Ended up sleeping in beach.
Then go and see Mat MP.
Ask for rental flat on compassionate ground.
Guess their race?
Ok sorry, it's PAP fault
Of course it is the PAP's fault. Their policies on car ownership has made Spore the most expensive place in the world to own & operate a car.
The same can be said of the Spores medical system.
It's no secret that you can get your prescriptions filled in JB cheaper than in Spore.
no need to look further.
just look at panadol.
both panadol in Singapore and Malaysia are made in Malaysia
why panadol in Singapore is 3 times more expensive that Malaysia Panadol?
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This is obviously justification to increase the minimum sum even further to prevent families from withdrawing the profit they make from the sale of their flats.
It is pretty obvious that a large proportion of sinkies cannot manage money and they need the government to take care of their funds for them.
It is pretty obvious that a large proportion of sinkies cannot manage money and they need the government to take care of their funds for them.
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The family didn't blow the money on excessive luxuries. They bought a used car. In many countries you can buy an affordable brand new car without ending up in the poor house
They also invested in a business which turned out to be a scam. Why not look into why the PAP has such lax laws that allow such scams in Spore
The husband also got seriously ill. Most of us know that it is better to die, then to get sick in Spore:(
They got con all the way.....from the MIW...the scam thing is just an excuse, even if they still have $198,000, the AFFORDABLE medical bills would have "killed" the husband anyway...it is going to cost 3 times that amount, after subsidy & they still have to sleep at the Void deck...
Guess the Race?? Madam A....not difficult to guess!....
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Wah, so sensational.......but where is the proof?
I tell you a true story, which is my own......I got all my CPF out as a consequence of my inability to work anymore. With whatever little I got, I took huge calculated bets on the stock market and the rest at turf club. Within one year I made 10 times my initial capital. I rinsed and repeat and it is now 10 years later and I humbly declare I'm a multi-millionaire already and is still comprehensively invested. All thanks to CPF releasing all my CPF money, which rightful belongs to me anyway.
I tell you a true story, which is my own......I got all my CPF out as a consequence of my inability to work anymore. With whatever little I got, I took huge calculated bets on the stock market and the rest at turf club. Within one year I made 10 times my initial capital. I rinsed and repeat and it is now 10 years later and I humbly declare I'm a multi-millionaire already and is still comprehensively invested. All thanks to CPF releasing all my CPF money, which rightful belongs to me anyway.
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sold 200K profit for 4 room flat? Who else ripped off from her?
SG Garmen? Or go to that IT IS NOT YOUR MONEY CPF ACCOUNT? Puki Malu!
Anecdotes are not accurate because there are always extremes in a bell curve. Even at 98% confidence, there will still be extremes like this. I reckon this to be an exception rather than the norm, like the oily man story told in the past.
3x considered very good oredi. u noe diff between the 2 pm's salary?
btw i read some where can buy generic at unity for almost jb price.
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