Can someone pls educate $8 M'sian Cow on economics of supply & demand?

[Confuseous]

Khaw says it's unfair to blame PRs for higher COVs
He said that typically, PRs pay lower COVs.
Mon, Jan 16, 2012
AsiaOne

Permanent residents should not be blamed for the rising prices of resale flats, said National Development Minister Khaw Boon Wan in Parliament today.

Instead, he revealed that the buyers that up the stakes for the cash premium for flats are actually the local private property owners.

Mr Zaqy Mohamad, Member of Parliament for Choa Chu Kang GRC, had asked Mr Khaw if the Housing Board will consider limiting the sale of resale three-room and smaller flats to only lower-income Singaporeans.

Mr Zaqy said there is a 'common perception' that the increasing prices of resale flats, as well as the escalating amounts of cash premium paid to the sellers, more commonly known as the cash-over-valuation (COV), are due to PRs.

In August last year, C&H Properties real estate agent Daniel Tan told The Straits Times that sellers for four- to five-room resale flats in Woodlands, Ang Mo Kio and Bedok could command COV amounts ranging from $50,000 to $80,000. He said these sellers lowered their expectations to below $50,000 after HDB raised the income ceiling for new flats and housing subsidies.

In the third quarter of 2011, the median COV for three-room flats ranged from $27,900 to $34,000, according to the paper.

According to The Straits Times, Mr Khaw said: "The data (is) quite distinct. Typically, the PRs pay the lower COVs... among the groups, the higher COVs are often by private property owners, or former private property owners... especially the enbloc owners or residents, probably with a lot of cash and still need a roof... they are the ones who bid up the COV."

He added: "So let us don't unfairly blame a particular group for causing higher prices in the resale market."

Mr Khaw, who acknowledged that home prices have shot up in the last two to three years, said he has been working on the problem and asked for patience 'that the market will stabilise in due course'.

First bear with us. Now, please be patient. Where the fcuk is Affordable Mah?









[email protected]

 

[jw5]

Supply: Prompt heart surgery at a net cost of $8 after deducting all medical benefits and insurance claims, which ordinary citizens may not have.

Demand: The ministar needs it.

 

[Capano2121]

PAP ECONOMICS 101

PAP demands it, peasants supply it!

 

[Pervert]

I think he forget about simply equilibrium theory, must draw graph n show him.

 

[I_Hate_Pappies]

Hahaha! He's blaming Singaporeans for making HDB expensive hence causing his FTs expensive home. :oIo:

 

[zeddy]

A good education for this cheapskate Penang Cow is to Vote Him Out in 2016..

 

[BuiKia]

Why all my friends buying and selling HDB flats all feel otherwise but someone who had never stayed in HDB is so sure har?

Khaw says it's unfair to blame PRs for higher COVs
He said that typically, PRs pay lower COVs.
Mon, Jan 16, 2012
AsiaOne

Permanent residents should not be blamed for the rising prices of resale flats, said National Development Minister Khaw Boon Wan in Parliament today.

Instead, he revealed that the buyers that up the stakes for the cash premium for flats are actually the local private property owners.

Mr Zaqy Mohamad, Member of Parliament for Choa Chu Kang GRC, had asked Mr Khaw if the Housing Board will consider limiting the sale of resale three-room and smaller flats to only lower-income Singaporeans.

Mr Zaqy said there is a 'common perception' that the increasing prices of resale flats, as well as the escalating amounts of cash premium paid to the sellers, more commonly known as the cash-over-valuation (COV), are due to PRs.

In August last year, C&H Properties real estate agent Daniel Tan told The Straits Times that sellers for four- to five-room resale flats in Woodlands, Ang Mo Kio and Bedok could command COV amounts ranging from $50,000 to $80,000. He said these sellers lowered their expectations to below $50,000 after HDB raised the income ceiling for new flats and housing subsidies.

In the third quarter of 2011, the median COV for three-room flats ranged from $27,900 to $34,000, according to the paper.

According to The Straits Times, Mr Khaw said: "The data (is) quite distinct. Typically, the PRs pay the lower COVs... among the groups, the higher COVs are often by private property owners, or former private property owners... especially the enbloc owners or residents, probably with a lot of cash and still need a roof... they are the ones who bid up the COV."

He added: "So let us don't unfairly blame a particular group for causing higher prices in the resale market."

Mr Khaw, who acknowledged that home prices have shot up in the last two to three years, said he has been working on the problem and asked for patience 'that the market will stabilise in due course'.

First bear with us. Now, please be patient. Where the fcuk is Affordable Mah?









[email protected]

 

[ChaoPappyPoodle]

1) Khaw says that the data is distinct and that it is locals who are pushing up the COV prices. Khaw should provide us with the requisite data. It is well-known that PRCs have consistently outbid locals in acquiring HDB cofeeshops. It is not difficult to imagine a similar scenario for HDB homes.

This Khaw is the same Khaw that declared to the entire world that he was STUPID for being hoodwinked by TT Durai. This Khaw is the same person that has almost single-handedly increased the cost of health care in SG.

2) Khaw acknowledges the past existence of HDB price/supply/demand problems. Take note that Khaw not only acknowledges the problems but has also accepted that he will not rectify the problem but only try to stabilize prices and to meet demand with adequate supply. In other words, Khaw is telling us, LPPL! Live with the past problems and accept that the problem will persist although the problems will be lessened. In other words, Khaw either has no idea of how to rectify past problems or he is not the least interested in the problem. His main goal is to ignore the problem and simply to stabilize prices. But prices have not stabilized and have continually crept up even after his varying measures put into place.

Khaw is a failure and a loser for admitting his stupidity in the NKF case and now for accepting that he either cannot or will not solve past problems of escalating prices and inadequate supply.

 

[Forvendet]

GMS should volunteer as KBW economics tutor.

 

[I_Hate_Pappies]

1) Khaw says that the data is distinct and that it is locals who are pushing up the COV prices. Khaw should provide us with the requisite data. It is well-known that PRCs have consistently outbid locals in acquiring HDB cofeeshops. It is not difficult to imagine a similar scenario for HDB homes.

This Khaw is the same Khaw that declared to the entire world that he was STUPID for being hoodwinked by TT Durai. This Khaw is the same person that has almost single-handedly increased the cost of health care in SG.

2) Khaw acknowledges the past existence of HDB price/supply/demand problems. Take note that Khaw not only acknowledges the problems but has also accepted that he will not rectify the problem but only try to stabilize prices and to meet demand with adequate supply. In other words, Khaw is telling us, LPPL! Live with the past problems and accept that the problem will persist although the problems will be lessened. In other words, Khaw either has no idea of how to rectify past problems or he is not the least interested in the problem. His main goal is to ignore the problem and simply to stabilize prices. But prices have not stabilized and have continually crept up even after his varying measures put into place.

Khaw is a failure and a loser for admitting his stupidity in the NKF case and now for accepting that he either cannot or will not solve past problems of escalating prices and inadequate supply.

In actual fact, not just PRC. The Pinoys, Indon and Indian PR are outbidding locals too. Ang Moh PR totally fuck one side. Used to be Malaysian PR.

 

[I_Hate_Pappies]

A good education for this cheapskate Penang Cow is to Vote Him Out in 2016..

Uphill task compared to MBT. Ask GMS, he knows it better than anybody

 

[halsey02]

Supply: Prompt heart surgery at a net cost of $8 after deducting all medical benefits and insurance claims, which ordinary citizens may not have.

Demand: The ministar needs it.

It is an inelastic demand & supply, that caters to a certain niche market.

 

[GoldenDragon]

GMS should volunteer as KBW economics tutor.

KBW rather suicide than hear GMS speak.