Extreme HDB- beehive price will be a mother of all catastrophes! All Must read !

[Tiu Kwang Yew]

If you say HDB price go up and salary never go up---they use PAP pay to show you ! What can say ? Win votes is the chief thing !

70s and 80s flats , may be these leasers sell, can get some profits unless they sleep at the void decks or their married children’s houses but long term not possible right !

90s and recent HDB beehive 99-Yr leasers----most pay the lease loan for 30 years or 25 years by CPF vehicle…..and when these young generation paid up their HDB loan (assuming they never kena TOTO) , they oredi near 65 or 70 yr old….lau kok kok….no people want to employ…..PAP ask them to go upgrade….and upgraded oredi…happy with a cert but going to die oredi !
And these people after paid the HDB loan-----CPF no more money oredi….got some medisave but for show only !
That means no retirement funds ! This is the ground fact of these YG- HDB leasers.

You see why HDB skunk told you HDB flat can pawn right ! You see the CPF oredi fail when HDB price shoot to the roof !

Please take note that the recent lease- buying price , let say 250k…..finished HDB loan after 25 to 30 yrs….the actual value is at least 400K (plus interest )…..not to mention the conservancy fees, parking fees, property tax, etc.

25 to 30 years later…..can God guarantees the sporns sinkapore still got fairy tale economy ???? These people can pawn their house at 400k or with a little COV ….let say $500k ???? If don’t have, then these people would have wasted their lifetime paying for the HDB house lease right ! Their hey days are paid into HDB…..very tragic right !

Think about it, if you are one of them , hair grey and sit on the porch of some old folk homes, knowing the house you lease worth only a few thousand dollars….would you regret what you would have voted for at many GEs ???
What happen no buyer even at cheap cheap price….and then the lease is up ???

No one can tell what will happen the next 20 to 30 years…….HDB selling lease for HDB flats are way to high becos these houses will only worth a few thousand dollars in the future.

In other words, what you or your children pay for now , 30 years later, the rat race you all ran, are down to the PAP drain !
Like it or not, sinkapore must merge with mudland for long term survival….you see the point when we tok about ringgits right !

For those who got children , if your vote to PAP is a sure thing, tink again, pls spread the words……HDB policy will kill the poor local islanders and local middle income slowly and steadily ! FT Investors that rent may take back the lease money !

And see the resale HDB flats……..it’s showtime for the rich FTs ….they play COE , now they play COV…..50 to 100k is peanuts to them . They know the political price cannot last a lifetime…..another ten years may be…..and that’s it !
And you see many foreign rich are here for a dream come true for the next 10years ?

Sinkapore public- housing policy has oredi collapsed….the local voters will pay for the political price ….just stay fit and see the happening…….there is nothing PAP can do about it now….it is do or die ! Price up also die , price down also die !

you know the 70s HDB 3 room flat---cost of contractor was about 2k to 3k....HDB sold sold at 7.5k.....but now it is calling 300k......you think this is not PAP madness !

New -flats contractors all using cheap labor....some more raw materials are very cheap....ask the contractors---they shake heads to see PAP selling so high but they have to wayang together !!! You see how tragic !


Local voters are digging graves for their own kind ! New citizens and PRs have backdoors ! PAP people got A380 standby !

 

[tigerboy18]

bro, u are quite correct. Tat is why d govt will never divulge d actual cost of building d HDB flats. they chased away all d farmers in Punggol, Sengkang, Choa Chu Kang, etc n paid them peanuts for d acres of land. Then when u ask them to justify why d 4-room flat is selling at such a high price, they tell u land cost lah etc.

u see, construction costs they know they cant bluff very much bcos u can calculate. land cost? wat land cost? they only paid a few dollars for a square foot of land under d compulsory acquisitions law, n they then tell u land cost is very high. n dun forget 1 block of HDB flats got how many units of apartments?

today d prices of housing are reaching d sky. i m just wondering how d next generation is going to own a roof over their head when they finished their study n come out to work. As it is now, most of us are slaved to d HDB loan or to d banks for life. u started to buy a property at, say 30 yrs old n take a huge mortgage loan for 30 yrs repayment..... think abt it. by d time your hair turn grey, then u hv just managed to pay off your mortgage. it is abt time u say bye bye to tis world liao. sigh..... sad, very sad. :(

 

[Man in the streets]

Agree with tigerboy.

No wonder Hougang(wp) stays for 4 terms !

If HDB sells lease, land cost should be taken out, afterall, 99yrs after, the land goes back to Govt if PAP still around.

It is tragically true that because of political power lust, HDB policy becomes a deadly potential disaster. It may also cause a riot in future !

People will not know the actual construction cost, but even if they let know , contractors can collaborate with HDB too !

Whether new flats or resale flats, price is far too high to see what will happen in the near future, this is a scary thing ! It may worth a kings ransom now but may worth nothing when the playtime is up !

Property in singapore is a time bomb, especially the public housing ( now no more public ). The PR factor and rich new citizens just add salt to the wound !

Yes, 30 yrs later ...what can you expect ? HDB 3room at 500k ?
New citizens and PRs will have the say from that time...everything is singaporean but you only find local singaporeans at cultural cte raising funds for local kids or you find them in unifrom groups ,still dreaming dreams come true, flying their flags !

bro, u are quite correct. Tat is why d govt will never divulge d actual cost of building d HDB flats. they chased away all d farmers in Punggol, Sengkang, Choa Chu Kang, etc n paid them peanuts for d acres of land. Then when u ask them to justify why d 4-room flat is selling at such a high price, they tell u land cost lah etc.

u see, construction costs they know they cant bluff very much bcos u can calculate. land cost? wat land cost? they only paid a few dollars for a square foot of land under d compulsory acquisitions law, n they then tell u land cost is very high. n dun forget 1 block of HDB flats got how many units of apartments?

today d prices of housing are reaching d sky. i m just wondering how d next generation is going to own a roof over their head when they finished their study n come out to work. As it is now, most of us are slaved to d HDB loan or to d banks for life. u started to buy a property at, say 30 yrs old n take a huge mortgage loan for 30 yrs repayment..... think abt it. by d time your hair turn grey, then u hv just managed to pay off your mortgage. it is abt time u say bye bye to tis world liao. sigh..... sad, very sad. :(

 

[Subok]

can we all imagine all those old days farmers, kampongs etc were evicted by Govt gazette and were compensated peanuts? And later they felt so noble to have contribute to the building of a nation? of affordable housing?

Then after these ground of farmers and kampongs owners all die-ed in the grave they realized in the other side they actually aided PAP in doing evil to their descendants with the land PAP legally seized from them?! I hope they turn in their grave and come back haunt PAP!

 

[Tiu-leh-see-fart]

Well, it is utmost madness to tag a political price to the HDB flats which are public shelters !

However what rebates or discount the PAP is playing with, the end is still predictable .

HDB flats are supposed to be for local poor or low income families or middle income people but turns into a nightmare.

How can public housing metaphors into a big PAP political tool and yet the local voters take the bite .

In fact, four common walls are not even worth 50k at all, not to mention people live in air space .


Just imagine, three basketball court size could house 300 familes, what land cost you fuck talking ?

And they have the nerve and gut to drown themselves in YOG and NDP.....indeed very tragic for the island !

PAP juntas will see divine retribution ! Their voters have a price to pay !

 

[tigerboy18]

This bloody reasoning or concept of land cost is an abstract and bullshit thing. I remembered when i was still in the army, i had a buddy who lived in a farm at the Bukit Panjang area (now should be the Senja or Fajar area) and they hv lots n lots of durian trees. I used to go to his farm house to makan durian during the season. When the Govt acquired their land, they only paid them $3 per durian tree and $0.50 psf of the farm land! Can u imagine how cheap??

Another issue now, wat was the MP reply when she was asked how come d bus fare and mrt fare is so expensive after the change? They promised to be cheaper after the introduction of the concept of this distance fare. And the MP says, "dun worry, in the long run, u will find d fare cheaper and u will benefit from the new fare system". What fuck reasoning is that?? how can in d long run the fare will be cheaper when the fare has been increased??

Take another cue from d old man MM. Why suddenly he is saying that there shd be no retirement age for Singaporean? Of course he gave a very beautiful reason by using himself as an example. We all know it very well, n dun need him to remind us, tat we wud be better off if we stay occupied and well-engaged even when we reached 60. But the real reason is because d old man knows very well that today, about 70% to 80% of Singaporean cannot afford to retire at the age of 55 or 60. Everthing is money money money in Singapore! at 60 years old, many Singaporean still hv mortgage loan to pay! Like what some ordinary folks say, "Hand stop, Mouth stop"!

 

[Goh Meng Seng]

Very good posts here.

There is another thing i want to add, if you go for 30yr mortgage and your repayment period is beyond 55 yr old, you will be in trouble.

At 55 year old, all your CPF money will go into a newly created account called Retirement Account if you cannot meet the minimum sum requirement. And by then, the CPF contribution by employer will be reduced as well. It practically means that you will no longer be able to use your CPF to repay your mortgage, even if you are working.

This information was provided to me by a reader of my blog. He complained that he is now stuck because all his CPF money goes into Retirement Account and he could no longer use it to pay for his property.

Goh Meng Seng

 

[Ramseth]

Very good posts here.

There is another thing i want to add, if you go for 30yr mortgage and your repayment period is beyond 55 yr old, you will be in trouble.

At 55 year old, all your CPF money will go into a newly created account called Retirement Account. It practically means that you will no longer be able to use your CPF to repay your mortgage, even if you are working.

This information was provided to me by a reader of my blog. He complained that he is now stuck because all his CPF money goes into Retirement Account and he could no longer use it to pay for his property.

Goh Meng Seng

So you quickly sold your flat and run road first.

 

[aurvandil]

The recent "re-heating" of the property market suggests that the promise by PM Lee to add 100k FT is not something which will happen in the near future.

Rather it is something which they have been quietly doing in the past 2 to 3 months and a large proportion of the 100k FT are ALREADY HERE.

As long as we have a continuous non-stop flood of immigation into Singapore, the property market will be able to defy gravity and move upward in a straight line.

 

[batman1]

One simple solution for sinkees:VOTE OUT THE MIW !!!

 

[Cestbon]

If the repayment loan for HDB more than 20 year that the trigger alarm.
In 80s most HDB loan are 10~15 year max.
That why not most retired still have CPF money in the ordinary acc. And also last decade the employer CPF contribution is 20%. That also make a huge different.
Some HDB buyer still have to fork out cash pocket money for monthly HDB loan because not enough money in OA already empty.
As soon they out of jobs that make the matter worst.

 

[tigerboy18]

If the repayment loan for HDB more than 20 year that the trigger alarm.
In 80s most HDB loan are 10~15 year max.
That why not most retired still have CPF money in the ordinary acc. And also last decade the employer CPF contribution is 20%. That also make a huge different.
Some HDB buyer still have to fork out cash pocket money for monthly HDB loan because not enough money in OA already empty.
As soon they out of jobs that make the matter worst.

Tat is exactly why d old man is now telling us tat there shd not be retirement age for Singaporean! Tat old man knows very well tat in Singapore, d average citizen is poor, only d Govt is rich!

Let me thanks bro SIFU n another bro who did not leave his nick for upping my points. Thank u very much n will surely return such gd gesture when i hv d power to do so.