Greatest wealth transfer in Singapore history

[Thick Face Black Heart]

Foreigners come here push up prices of flats, sell for a fat profit, then leave Singaporeans with a huge debt burden (mortgage debt).

The PAP has initiated the grandest wealth transfer program in Singapore history - transfer to wealth from Singaporeans to foreigners:

(a) invest Singaporean assets (reserves) in foreign banks -> wealth transferred from Singapore citizens to G7 nations.

(b) allow foreigners to buy & sell flats with impunity -> wealth transfer from Singaporeans to foreign property investors

(c) spend money to groom foreign sport atheletes, give free no-bond scholarship to foreigners -> wealth transfer from Singapore tax payer dollars to foreigners

 

[leetahbah]

Yes, agree on this foreigner wealth transfer.

But the greatest tranfer is the transfer of tax payers money to the pockets of the PAP ministers, pretty soon the millions transfered will turn into billions.

 

[longbow]

BUT to get in the game to later sell for profit, FT need to buy the resale units from Singaporeans. Isn't this a transfer of wealth to Singaporeans?? FT cannot get in at the ground level so no big deal.

In a way, Singaporeans get pre IPO price, FT can only buy from the open market after IPO. Singaporeans also get that first bite of the apple.

FT pushing up prices benefit locals, since majority of HDb flats are owned by Singaporeans. So it greatly benefits Singaporeans.

Foreigners come here push up prices of flats, sell for a fat profit, then leave Singaporeans with a huge debt burden (mortgage debt).

 

[scroobal]

The first time someone suggested this is Viswa in his maiden speech and suggested that it was wealth leaking but his other remarks for which the old man came swinging.

Foreigners come here push up prices of flats, sell for a fat profit, then leave Singaporeans with a huge debt burden (mortgage debt).

The PAP has initiated the grandest wealth transfer program in Singapore history - transfer to wealth from Singaporeans to foreigners:

(a) invest Singaporean assets (reserves) in foreign banks -> wealth transferred from Singapore citizens to G7 nations.

(b) allow foreigners to buy & sell flats with impunity -> wealth transfer from Singaporeans to foreign property investors

(c) spend money to groom foreign sport atheletes, give free no-bond scholarship to foreigners -> wealth transfer from Singapore tax payer dollars to foreigners

 

[manokie]

Foreigners come here push up prices of flats, sell for a fat profit, then leave Singaporeans with a huge debt burden (mortgage debt).

The PAP has initiated the grandest wealth transfer program in Singapore history - transfer to wealth from Singaporeans to foreigners:

(a) invest Singaporean assets (reserves) in foreign banks -> wealth transferred from Singapore citizens to G7 nations.

(b) allow foreigners to buy & sell flats with impunity -> wealth transfer from Singaporeans to foreign property investors

(c) spend money to groom foreign sport atheletes, give free no-bond scholarship to foreigners -> wealth transfer from Singapore tax payer dollars to foreigners

a) when you invest $ in foreign banks, you own a piece of them don't you? plus you can sell you shares off to get back your original sum +- some amount. hence it is not a transfer but an investment with some risk

b) hello, when flats are sold to foreigners, they are also paid for by their foreign $ or rarely, they can get loans with low rates. so win for sg. it's not as if sg are subsidizing their purchases. singaporeans should be glad that foreigners are willing to purchase their small flats. for the same sum, i can get a pretty new house in US. however if singaporeans are selling to migrate then it's a personal thing already. can't really blame it on PAP.

c) agreed.

 

[eatshitndie]

the property situation in sg is like a big global party with invites for dumbfucks from all over the world to come join in the mass cool aid suicide, which is about to happen when the party implodes. sell when speculation is stricken with shit stirring.

 

[manokie]

the property situation in sg is like a big global party with invites for dumbfucks from all over the world to come join in the mass cool aid suicide, which is about to happen when the party implodes. sell when speculation is stricken with shit stirring.

not really. the singapore property market is kept alive by the increasing population and demand. the govt is also involved 80% of all housing and can control the supply. you have to agree that for the same $, you can get a big house in another country but then the same thing goes for hong kong. people still want to buy high-priced but small apartments in hong kong.

 

[eatshitndie]

not really. the singapore property market is kept alive by the increasing population and demand. the govt is also involved 80% of all housing and can control the supply. you have to agree that for the same $, you can get a big house in another country but then the same thing goes for hong kong. people still want to buy high-priced but small apartments in hong kong.

nothing goes on forever. there is a limit to land and space in sg. hk's property market crashed not too long ago, but was saved lately by prudence and the frenzy of china's economy. it will crash again, and again it will be closely connected to the china factor. when the market crashes in sg, she will come back at a future date. it's cyclic. when it crashes, mark this page. come back here and eat crow.

 

[manokie]

nothing goes on forever. there is a limit to land and space in sg. hk's property market crashed not too long ago, but was saved lately by prudence and the frenzy of china's economy. it will crash again, and again it will be closely connected to the china factor. when the market crashes in sg, she will come back at a future date. it's cyclic. when it crashes, mark this page. come back here and eat crow.

technically it will crash in sg but hopefully it will always be for a soft landing. i read recently that over 10,000 condos are still unsold. that's already a sign of what's going to happen when you leave it to private developers. in sg, the mood of the property market will not be like hongkong's. afterall, pap has absolute control over the media and 80% of the housing supply.

 

[longbow]

Property is cyclical in nature (following economic cycles) BUT when you dramatically increase pop that is aside from the cycle.

Singapore is case in point. Big fat question is whether we can continue to have these jobs for the newly imported workers. If they leave then we will have glut of major proportions which is not part of any cycle.

 

[eatshitndie]

Property is cyclical in nature (following economic cycles) BUT when you dramatically increase pop that is aside from the cycle.

Singapore is case in point. Big fat question is whether we can continue to have these jobs for the newly imported workers. If they leave then we will have glut of major proportions which is not part of any cycle.

there are groups of astute and wealthy global speculators who are not anchored long term to a country and who are punters for real estate opportunities and gains. where ever and when ever the legal-financial framework of a juicy market becomes soft and open, and ready to be exploited and raped, they will strike for short term gains. and they are the first ones to sell and leave before the bursting of the bubble. locals are often losers who have to bear the consequences.

 

[longbow]

Agree about the part of foreign investor/speculators. But I was pointing to fact that Singapore also had a fundamental change in population numbers.

This is aside from the typical real estate cycle. If when you jam an additional 1M bodies into Singapore it fundamentally impacts the property prices.

 

[LonewolfAlfa]

BUT to get in the game to later sell for profit, FT need to buy the resale units from Singaporeans. Isn't this a transfer of wealth to Singaporeans?? FT cannot get in at the ground level so no big deal.

In a way, Singaporeans get pre IPO price, FT can only buy from the open market after IPO. Singaporeans also get that first bite of the apple.

FT pushing up prices benefit locals, since majority of HDb flats are owned by Singaporeans. So it greatly benefits Singaporeans.

that's true. however the xenophobics will never accept that.

 

[Orion]

that's true. however the xenophobics will never accept that.

Then can u explain why the poor are getting poorer and the rich, richer?

You are just another heartless fool that is so selfish and black hearted. Surely you feel so loyalty to Singapore and the welfare of the poor and the unfortunate.

 

[ivebert]

Then can u explain why the poor are getting poorer and the rich, richer?

You are just another heartless fool that is so selfish and black hearted. Surely you feel so loyalty to Singapore and the welfare of the poor and the unfortunate.

Another babbling cheebye loser Peasant

The poor are uneducated, that is why.
If they worked hard in their youth, they will have lots of $$$ now.

In addition, the Sinkie peasants waste their money on 4D and prostitutes.
That's why they are getting poorer!

 

[johnny333]

that's true. however the xenophobics will never accept that.

There's alot of negative vibes in Spore, I suspect it's a reaction to the PAP policies rather than xenophobia

What I see are the big boys, those with the connections to the elites who are profiting from the property bubble. Even an Indonesian company is involved in developing the area around Kim Seng Rd.

Gov't or rather PAP has never hesitated to use the "land acquisition act" to steal the property of "lesser mortals".

Instead of using "xenophobics", a better term might be to use the term "vicitms" of the PAP policy.

 

[†††††]

laolee will say u are daff to believe that

 

[ivebert]

There's alot of negative vibes in Spore, I suspect it's a reaction to the PAP policies rather than xenophobia

What I see are the big boys, those with the connections to the elites who are profiting from the property bubble. Even an Indonesian company is involved in developing the area around Kim Seng Rd.

Gov't or rather PAP has never hesitated to use the "land acquisition act" to steal the property of "lesser mortals".

Instead of using "xenophobics", a better term might be to use the term "vicitms" of the PAP policy.

All Chinese are xenophobics.

If you have been to HK, Shanghai or Taipei, you will know what I mean.

 

[LonewolfAlfa]

Then can u explain why the poor are getting poorer and the rich, richer?

You are just another heartless fool that is so selfish and black hearted. Surely you feel so loyalty to Singapore and the welfare of the poor and the unfortunate.

what has your statement got to do with longbow's statement which i am merely agreeing to???? it just proves what i said is correct. the xenos will never accept that -

BUT to get in the game to later sell for profit, FT need to buy the resale units from Singaporeans. Isn't this a transfer of wealth to Singaporeans?? FT cannot get in at the ground level so no big deal.

In a way, Singaporeans get pre IPO price, FT can only buy from the open market after IPO. Singaporeans also get that first bite of the apple.

FT pushing up prices benefit locals, since majority of HDb flats are owned by Singaporeans. So it greatly benefits Singaporeans.

 

[LonewolfAlfa]

Another babbling cheebye loser Peasant

The poor are uneducated, that is why.
If they worked hard in their youth, they will have lots of $$$ now.

In addition, the Sinkie peasants waste their money on 4D and prostitutes.
That's why they are getting poorer!

and in addition Sinkie peasants think that spending on the latest models of iphones, LED tvs, notebooks, gaming rigs, digital cams, home theater systems, korean cars and boozing at pubs are needs not wants...