Serious New Test Balloon? Stop Sinkies From Using CPF To Buy Subsidized HDB Flats?

[frenchbriefs]

With CPF to be used for property purchases, real estate maket will crash in Singapore.

That's a good thing isn't it?cheaper property prices,

The plan goes like this.

Last time allow use CPF to buy HDB flat.

Now say at end of 99 year lease value $0.
Basically eat all CPF. Write off the debt to the sinkie. Say I owe you nothing. Your money gone.

Then now build new HDB flat say must use non CPF money. Why leh? Cos need the money for fresh injection of REAL money into the HDB coffers.


Damn smart. Only you sinkies dont get it.

The money in our cpf and real money got what difference?it's still money.

Actually using cpf money benefits the government more than sinkies using cash to pay for their hdb...using hdb monies to pay for hdb will reduce the amount of liabilities the government owe to citizens,using cpf money also helps push the hdb bubble even higher,which makes hdb even more expensive and people have to commit more of their cpf funds.remember the amount in ur CPF is alot,it's equivalent to 36 percent of ur income,how many people save 36 percent of their gross income every month?that's how sinkies are able to afford half a million dollars pigeon holes which is unheard of anywhere in the world.

Not only that ur CPF generates 3.5 percent interest,if u use ur CPF to pay for ur HDB not only does the government does not have to pay u 3.5 percent interest,u have to pay 2.6 percent for every dollar u "borrow" from cpf.

If government ban cpf from being used for hdb,there will be hundreds of thousands sitting in our cpf accounts generating interests which the government has to find a way to pay....there could possibly be close to a trillion dollars in CPf liabilities,assuming people save 2 to 300,000 if it wasn't siphoned off to pay for the hdb Ponzi.....where is government going to find ways to invest a trillion dollars?already gic investment returns have fallen from 6.5 percent to 5.1 percent....

People will also start demanding for earlier retirement.....because for once there is money in ur CPF...hundreds of thousands of dollars earning 3.5 percent interest a year....I suspect the average cpf balance could be half a million or more.....imagine the money saved from paying ur HDB mortgage over 30 years times 3.5 percent interest compounded.

Assuming $600 hdb mortgage per month,over 30 years at 3.5 percent interest...each person will have 394k in their cpf at the end of 30 years.