Housing and Property Reform - Rent don't Buy - Write Off Bubble

[tun_dr_m]

The Germans do so. Opposition must study this.

Rents are cheap and system of rental is very well managed in Germany. Only 42% of properties are privately owned. Most people live in affordable rental flats and move near to where they work. Further most people NEED NOT HAVE PROPERTY TO SECURE RETIREMENT in Germany.

http://news.xinhuanet.com/photo/2011-01/16/c_12986575.htm

德国人偏爱租房
2011年01月16日 20:19:16 　来源： 新华网
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1月16日，在德国首都柏林，一名男子经过一幢公租房。据统计，德国近六成的居民选择租房，房屋自有率仅为42%。德国人如此偏爱租房，除了人口流动性大，居民常因工作变动改换居住地的原因外，很大程度上归功于严格管理下的完备租房体系。德国政府、民间组织和企业大力支持公租房建设，保障低收入居民可以廉价租房。另外，德国房屋出租市场服务功能完善，立法保障租住房屋者权益，严格控制房屋租金。德国社会保险制度相对完善，居民也无须将买房做为自己未来的养老保障。新华社记者罗欢欢摄

1月16日，在德国首都柏林，一名女子走过租房广告栏。新华社记者罗欢欢摄

1月16日，一名德国男子在首都柏林阅读报纸上的租房信息。新华社记者罗欢欢摄

REFORM THE WHOLE HDB!

 

[Coolsaint77]

Even in OZ the rental are pretty stable and landlords are selective with tenants. Call it socialist you may but it does improve the overall well being of the majority of population.

We don't have to emulate the west but some control to prevent runaway asset inflation surely helps.

 

[longbow]

It really depends.

How is the retirement system in that country. What types of benefits does the G provide upon retirement. Can the G afford to provide this level of benefits 30 years from now; is there any problem with the system.

If the Gov has a rock solid, well financed retirement/healthcare system then go ahead and rent.

The individual must also have the discipline to put aside $ for their retirement. If they are not, they can spend away all their money during their youth travelling, buying nice cars, etc.

Good thing about buying property is it forced you to save and it is difficult to sell to get money out of property. Every month x% of you salary goes into mortgage payments. Also, overtime, property keeps up with rate of inflation.

 

[Dreamer1]

The Germans do so. Opposition must study this.

Rents are cheap and system of rental is very well managed in Germany. Only 42% of properties are privately owned. Most people live in affordable rental flats and move near to where they work. Further most people NEED NOT HAVE PROPERTY TO SECURE RETIREMENT in Germany.

http://news.xinhuanet.com/photo/2011-01/16/c_12986575.htm

德国人偏爱租房
2011年01月16日 20:19:16 　来源： 新华网
【字号 大 中 小】　【留言】　【打印】　【关闭】

【Email推荐： 】

1月16日，在德国首都柏林，一名男子经过一幢公租房。据统计，德国近六成的居民选择租房，房屋自有率仅为42%。德国人如此偏爱租房，除了人口流动性大，居民常因工作变动改换居住地的原因外，很大程度上归功于严格管理下的完备租房体系。德国政府、民间组织和企业大力支持公租房建设，保障低收入居民可以廉价租房。另外，德国房屋出租市场服务功能完善，立法保障租住房屋者权益，严格控制房屋租金。德国社会保险制度相对完善，居民也无须将买房做为自己未来的养老保障。新华社记者罗欢欢摄

1月16日，在德国首都柏林，一名女子走过租房广告栏。新华社记者罗欢欢摄

1月16日，一名德国男子在首都柏林阅读报纸上的租房信息。新华社记者罗欢欢摄

REFORM THE WHOLE HDB!

Read the economic history,Germany is one country which has avoided bubbles thro'out its economic development history.

That makes the difference.
It was really the work of Deutsche Bundesbank - In former years continental Europe's de facto central bank was affectionately known as the 'Buba', but most of its functions have now tranferred to the ECB

 

[longbow]

Do not blame them. They went through hyperinflation.

You do not need property for retirement if the state's retirement system is well financed and strong.

DO not know about Germany property prices. But if it is like most countries, property tends to do better than inflation.

I also wonder if the numbers are skewed as a result of unification. The East Germans were provided with cheap rental housing and maybe clinging onto these benefits. After all they are still not doing as well as their West German counterparts and that legacy benefit helps put a roof over their head.

Read the economic history,Germany is one country which has avoided bubbles thro'out its economic development history.

That makes the difference.
It was really the work of Deutsche Bundesbank - In former years continental Europe's de facto central bank was affectionately known as the 'Buba', but most of its functions have now tranferred to the ECB

 

[Dreamer1]

Do not blame them. They went through hyperinflation.

You do not need property for retirement if the state's retirement system is well financed and strong.

DO not know about Germany property prices. But if it is like most countries, property tends to do better than inflation.

I also wonder if the numbers are skewed as a result of unification. The East Germans were provided with cheap rental housing and maybe clinging onto these benefits. After all they are still not doing as well as their West German counterparts and that legacy benefit helps put a roof over their head.

Exactly

Germany went through its worst inflation in 1923. In 1922, the highest denomination was 50,000 Mark. By 1923, the highest denomination was 100,000,000,000,000 Mark. In December 1923 the exchange rate was 4,200,000,000,000 Marks to 1 US dollar.[20] In 1923, the rate of inflation hit 3.25 × 106 percent per month (prices double every two days). Beginning on 20 November 1923, 1,000,000,000,000 old Marks were exchanged for 1 Rentenmark so that 4.2 Rentenmarks were worth 1 US dollar, exactly the same rate the Mark had in 1914.[20]

The population of East germany was roughly 1/4 of the west,so that effect would not be so drastic as 58% of the total population of 81 million now are renting

 

[Ash007]

Even in OZ the rental are pretty stable and landlords are selective with tenants. Call it socialist you may but it does improve the overall well being of the majority of population.

We don't have to emulate the west but some control to prevent runaway asset inflation surely helps.

You haven't looked at Sydney rental property have you?

 

[Coolsaint77]

You haven't looked at Sydney rental property have you?

Inner cities are exception, but you do have a choice to stay a little further away. In SG even if you stay at CCK the rental is still pretty high by intl standards.

 

[Watchman]

So how much rental per month is workable for ?

Are you servicing the poor or the upmarket ?

 

[tun_dr_m]

So how much rental per month is workable for ?

Are you servicing the poor or the upmarket ?

Make it very affordable that lowest income workers need only to not more than a third of wages on rent each month for basic homes.

1st and fore most Singapore MUST NOT become AN ASSET DEPOT for foreigners to hold their wreath safely at the expense of Singaporeans. Which is precisely what PAP is mainly doing all these years.

 

[Ramseth]

HDB was incepted to provide affordable rental flats for Singaporeans who couldn't afford to buy landed properties or rent private apartments. It went parallel with CPF to provide for retirement funds for these people. However, somewhere down the line HDB flats for sale began to take over and along the line, rental flats were reduced to very few left. Have Singaporeans' real income increased so much as to justify that mass transition? I don't think so. The money that's sustaining it comes mostly from CPF.

The in-vogue message now is that you can't afford to retire if you don't save enough. But for lower-middle income groups, save from what? Everything's so expensive. If they faithfully complete a 30-year mortgage, they'd end up with a flat to retire in, yes, but not much cash left and no more income if they stop working. PUB, SCC etc. bills still have to be paid. They still need food, other necessities and amenities.

If they sell their flats and get lump sums in the hundreds of thousands, they won't qualify for whatever few rental flats left. They'd be asked to buy another one, in cash, since they have the cash and by retirement age, don't qualify for mortgage anymore.

 

[mentor_LEE]

Shut Up!

Who said there is RETIREMENT in Singapore?

No such thing!

It is iLEEgal!

Don't even dream!

If you dream of retirement then ISD will appear in your dream at once!

Shut up about retirement and work you slaves!

CCB!

HDB was incepted to provide affordable rental flats for Singaporeans who couldn't afford to buy landed properties or rent private apartments. It went parallel with CPF to provide for retirement funds for these people. However, somewhere down the line HDB flats for sale began to take over and along the line, rental flats were reduced to very few left. Have Singaporeans' real income increased so much as to justify that mass transition? I don't think so. The money that's sustaining it comes mostly from CPF.

The in-vogue message now is that you can't afford to retire if you don't save enough. But for lower-middle income groups, save from what? Everything's so expensive. If they faithfully complete a 30-year mortgage, they'd end up with a flat to retire in, yes, but not much cash left and no more income if they stop working. PUB, SCC etc. bills still have to be paid. They still need food, other necessities and amenities.

If they sell their flats and get lump sums in the hundreds of thousands, they won't qualify for whatever few rental flats left. They'd be asked to buy another one, in cash, since they have the cash and by retirement age, don't qualify for mortgage anymore.

 

[Ash007]

If they sell their flats and get lump sums in the hundreds of thousands, they won't qualify for whatever few rental flats left. They'd be asked to buy another one, in cash, since they have the cash and by retirement age, don't qualify for mortgage anymore.

Move to retirement village in JB?

 

[Forvendet]

If they sell their flats and get lump sums in the hundreds of thousands, they won't qualify for whatever few rental flats left. They'd be asked to buy another one, in cash, since they have the cash and by retirement age, don't qualify for mortgage anymore.

Move to retirement village in JB?

If they sell their flats and there's a retirement solution in Singapore, that's alright. Work till death or shipped abroad is certainly not alright. :(

 

[singveld]

you better read germany history carefully, the economic situation between ww1 and ww2, germany economic sink like a rock.

 

[nkfnkfnkf]

you better read germany history carefully, the economic situation between ww1 and ww2, germany economic sink like a rock.

Why worry? Property bubble will make everything 1000X worst. Especially in SGP. Imagine war in SG and buildings turned into Beirut styled. Where is your fucking bubble value then?


Every scene of Beirut fits Singapore:

This is your dream turned nightmare

This is your HDB block

This is your COE & PARF car

This is your mom's home

Bubble is a safeguard to NOTHING. Only risk! It is just Time Bomb.

 

[singveld]

that is photo of johor not singapore. if there is war.

 

[nkfnkfnkf]

that is photo of johor not singapore. if there is war.

Nope! Read again for the captions. 100% Red Dot!

 

[JI_Fled]

that is photo of johor not singapore. if there is war.

This is not a question of IF but just only a question of WHEN. War and destruction is a cyclic feature of this natural world inevitable.

 

[ElaineTan]

The pricing of house is so high now, i think Renting A House to stay is better.