- Joined
- Dec 30, 2010
- Messages
- 12,730
- Points
- 113
The other issue of this affordability is the rubber band of time. To be stretched to 30 years, 50 years or 100 years to be affordable is a playing of rubber time. This kind of interpretation of affordability is treacherous and deceiving and can be adverse to the home buyers.
What about the type of housing, rental or bought, 30 year lease, 60 year or 99 year lease, or freehold? Comparing a 99 year lease with freehold and using the same yardstick of 30% household income surely would make the meaning quite different. When a 30% income is for the purchase of a freehold property, and applying it to a 99 year leasehold, it is like comparing apple with orange.
This flexible truth is now being waved daily to tell the Sinkies that housing is affordable. Is this kind of truth acceptable and responsible? What kind of credibility is the person spouting this kind of reasoning? Is his or her intent honest, sincere and well meaning?
http://mysingaporenews.blogspot.sg/...ign=Feed:+MySingaporeNews+(My+Singapore+News)
What about the type of housing, rental or bought, 30 year lease, 60 year or 99 year lease, or freehold? Comparing a 99 year lease with freehold and using the same yardstick of 30% household income surely would make the meaning quite different. When a 30% income is for the purchase of a freehold property, and applying it to a 99 year leasehold, it is like comparing apple with orange.
This flexible truth is now being waved daily to tell the Sinkies that housing is affordable. Is this kind of truth acceptable and responsible? What kind of credibility is the person spouting this kind of reasoning? Is his or her intent honest, sincere and well meaning?
http://mysingaporenews.blogspot.sg/...ign=Feed:+MySingaporeNews+(My+Singapore+News)
