HDB for home stay?

[JohnTan]

the pricing in Chinkland is based on greed

Greed? And I thought chinkland was a commie country under Xi's doctrine.

Whatever, it still shows us that HDB flats are very affordable and the 99 year lease is very generous to sinkies.

 

[zhihau]

Greed? And I thought chinkland was a commie country under Xi's doctrine.

 

[nightsafari]

Deng Xiaoping came to stinkapore in 1978 and has 4 countries to learn from on how to squeeze your people dry. After much deliberation, it is concluded that stinkapore fits the bill perfectly. After all, it's more appropriately from one dictator to learn from another.
If you read Chinese, you can slowly digest the articles below.

http://cpc.people.com.cn/n1/2018/0828/c69113-30255620.html

https://opinion.huanqiu.com/article/9CaKrnJEyWu

holee shit. thx for the info.

unfortunately have to drag a friend to do it, my Chinese is next to non-existent.

 

[nightsafari]

chinkland sells their apartments for 70 year lease. In Beijing and Shanghai, 70 year lease apartments. Housing costs range from around S$900 to S$1800 psf in Shanghai.

In Singapore, HDB resale flats are selling for about S$550 psf.

Oppies still think housing prices in Singapore is unrealistically high?

john. back in the day when ah kong was in charge, HDB was a sensible thing given his nation building plans. Sure there were a few reservations here and there but the overall demeanour was benign as was most of his other actions. There are criticisms of social engineering and the such, but on the whole, HDB was very spacious and for govt housing a pretty good place to live.

It's not where we're at, but with current administration, the demeanour has changed. It is now, to borrow a stock operator phrase, a pump and dump. A lot of glitz, bells and whistles, but you have the financial noose pulled tighter. Unwise practices now have made sinkieland a harder place to live.

It's all relative of course. China is totally a fuckland in terms of looking after it's people so let's leave it out of the picture. I'm comparing sinkieland under Ah Kong to sinkieland under his successor. I know that I enjoyed my time despite some minor reservations when ah Kong made it happen. Now, it's a flashier place, but the financial burden is significantly higher.

 

[nightsafari]

You can always get the cheong version from AliExpress.

omg. just as pointless and probably a piece of garbage to boot. Useless boondoggle is bad enough, can park and look at it only. But useless garbage goes straight in the bin.

you know gotta wonder, who in their right mind would buy or make this?

 

[zhihau]

China is totally a fuckland in terms of looking after it's people so let's leave it out of the picture.

The Chinks are pumping up the housing prices everywhere, from Canada to Down Under

 

[nightsafari]

The Chinks are pumping up the housing prices everywhere, from Canada to Down Under

yes, I'm wondering when it will end? you got any real estate friends with an ear to the ground?

 

[zhihau]

yes, I'm wondering when it will end? you got any real estate friends with an ear to the ground?

only tiagong some chap managed to stay in Sentosa Cove for free and with plenty of money to spare after flipping in our market

 

[blackmondy]

omg. just as pointless and probably a piece of garbage to boot. Useless boondoggle is bad enough, can park and look at it only. But useless garbage goes straight in the bin.

you know gotta wonder, who in their right mind would buy or make this?

Dumb tiongs will buy it.

 

[SalahParking]

You dumbfucks still think the HDB flats will go to zero. Then your CPF balance will also go to zero. LOL

 

[winners]

There is no way to stop the housing prices from rising in the long term, especially in successful cities. Many factors will affect this: raw material costs, labor costs, inflation, etc. Even in Johor Bahru, a 2,000sq ft terrace house 10 years ago would have cost RM250k (or even at RM50k some 35 years ago) but today, it's RM500k at least. Major cities in the world have and will experience this, whether you like it or not? Ask yourself, can you still get the S$0.30 bowl of noodles during your grandfather's generation? Such prices will never return again. Face up to reality and stop kidding yourself. One should live for the future, not in the past.

Even when during a recession, housing prices would remain stagnant or fall a little, but once the economy recovers, it will skyrocket again. Even in Tokyo where it used to have a severe housing bubble and despite a declining population presently, prices are still rising during the last decade:

Source: https://www.globalpropertyguide.com/Asia/Japan/Price-History

 

[zhihau]

There is no way to stop the housing prices from rising in the long term, especially in successful cities.

No doubts the cost prices will increase, we are looking at a decent rate of increase, not at neck-breaking rates.

 

[winners]

No doubts the cost prices will increase, we are looking at a decent rate of increase, not at neck-breaking rates.

It all boils down to supply and demand. And in land scarce Singapore, what's more can you expect? There is already the 30% ABSD imposed on foreigners but yet it still would not deter those rich foreigners from buying properties in Singapore. It used to attract those rich Indonesian Chinese to buy condominiums (especially in the Orchard area) in Singapore. Also, landed properties are out of bounds for these people except for Sentosa Cove. Restrictive measures can only do so much but it's not a panacea to resist housing price increases.

 

[zhihau]

It all boils down to supply and demand. And in land scarce Singapore, what's more can you expect?

Read my first post in its entirety, things were going well till the early 90s, then the BTO pricing went awry at the turn of the century.

 

[winners]

Read my first post in its entirety, things were going well till the early 90s, then the BTO pricing went awry at the turn of the century.

You have to compare apple-to-apple. The very basic HDBs in the beginnings were basically nothing much but to house the people. As time goes on, people's expectation will rise. You used to have lift landings only on the 5th and 10th floors, but now you get lift landings on every floor. During that time, you also get a cheap and large open air carpark since the land was enormous, but now you can only have multi-storey carparks with built-in lift landings and all these will have added into the extra building costs. Now, in those newer towns, you even have very good landscaping and outdoor exercise facilities, some even comparable to those older condominiums. Seeing all these, nobody will ever want to go back to those days of plain HDB flats again, especially with the staircases only at the ends of the block like those still standing in Boon Lay today.

My wife's aunt who's family used to live in Clementi. They were glad for their SERS scheme. Yes, they had to top up to get a new unit in the same area, but they told us that the facilities and facade in their new flat are much better and worth every cent of it, not to mention that a new 99-year lease is also applicable.

 

[zhihau]

You have to compare apple-to-apple. The very basic HDBs in the beginnings were basically nothing much but to house the people.

The current job of HDB remains the same, just cut the frills.

 

[winners]

The current job of HDB remains the same, just cut the frills.

This is the alternative. But the onus is will the present generation of Sinkies accept the design of having staircases at both ends of the block? It will look so primitive. The people are spoiled and all of them will complain again for another different reason. There is now no turning back to the old days anymore. As I've said before, live for the future, not in the past.

Maybe if the world's population will be wiped out by 50% in the next 3 years due to Covid-19, would housing prices then be expected to fall.

 

[JohnTan]

john. back in the day when ah kong was in charge, HDB was a sensible thing given his nation building plans. Sure there were a few reservations here and there but the overall demeanour was benign as was most of his other actions. There are criticisms of social engineering and the such, but on the whole, HDB was very spacious and for govt housing a pretty good place to live.

It's not where we're at, but with current administration, the demeanour has changed. It is now, to borrow a stock operator phrase, a pump and dump. A lot of glitz, bells and whistles, but you have the financial noose pulled tighter. Unwise practices now have made sinkieland a harder place to live.

It's all relative of course. China is totally a fuckland in terms of looking after it's people so let's leave it out of the picture. I'm comparing sinkieland under Ah Kong to sinkieland under his successor. I know that I enjoyed my time despite some minor reservations when ah Kong made it happen. Now, it's a flashier place, but the financial burden is significantly higher.

I kinda get what you're saying.

Cost of living now and property prices are much higher than back in the 1970s, 80s or 90s. That's the price all developed cities pay, as they mature. It happened to London, Tokyo, HK too. I read about some UK prof who complained that his father, working as some blue collared job, could afford to buy a house in London back in the 1960s, while now, he on a professor salary, could only afford to rent.

PAP1 faced a different set of challenges as compared to PAP3 and PAP4. I believe that PAP4 is doing a good job currently in the big items like housing, security and jobs. Housing cost is usually pegged against annual income as a gauge to affordability. And we're still doing much better than places like HK, China or even KL, when compared to their respective local median income

I compared Singapore to foreign countries because oppies love to do that first. Too many oppies like to complain about the price imbalance between Singapore and johor, forgetting that most people do not have the luxury to earn in sing dollar and retire spending in ringgit.

 

[nightsafari]

No doubts the cost prices will increase, we are looking at a decent rate of increase, not at neck-breaking rates.

one word for you : China

actually make it 2 words : Chinese wealth.

Hell! Make it a whole sentence : Chinese from China desperately seeking safe repositories for their gains (ill-gotten/fair-gotten/otherwise).

 

[nightsafari]

The current job of HDB remains the same, just cut the frills.

this is in essence the prime raison d'existence for the HDB. winners always likes his apples to apples comparisons which are prime examples of straw man arguments facilitated by superficial observations. But the main point as you posited is the very valid criticism is that HDB is no longer fulfilling it's prime function.

It was meant to be a guarantee of safe, affordable housing for the mass populace. It has now become a bit of a speculative pony which it should never be. Elevators on every floor can go jump in a lake.