Tan Chuan Jin tells you how couples earning $1,000 can afford HDB flats

[Scrooball (clone)]

http://www.facebook.com/notes/tan-chuan-jin/providing-a-housebuilding-a-home/373138819395566

Are you convinced?

 

[looneytan]

Very convinced

 

[Simbian]

So in their old age they will have nothing to look forward to. Congratulations, TCJ. You have now joined Tharman in the PAP School of Awkward Statistics.

 

[Jlokta]

So in their old age they will have nothing to look forward to. Congratulations, TCJ. You have now joined Tharman in the PAP School of Awkward Statistics.

TCJ is hoping that this illustration will convince sinkies that HDB is indeed affortable.

Fact is HDB remains affortable to most, not all. And a bulk of his calculation relies on monthly repayment with CPF.

You will only have CPF when you work, so once you're out of a job then you're fucked.

My question is, why the fark is HDB flats so bleeding expensive when it is supposed to be public housing?

 

[soIsee]

http://www.facebook.com/notes/tan-chuan-jin/providing-a-housebuilding-a-home/373138819395566

Are you convinced?

Convinced?

I am convinced that this so called couple earning S$1000 per monh would earn S$1200 or so for the next 22 years.

But their cost of living and payment back to HDB will cost them S$3000 per month by then, so where to find the other S$1800?

Of course by then Maj Tan would have been coolly paid many millions and still harp the same tune that this couple was not 'productive' to see themselves thru the rest of the other 22 years.

 

[keling is shit]

the amount that i calculate do not tally with this pap crook.

i use the hdb loan calculator from hdb website. default interest is 2.6% based on hdb.

for 2 room : tan cj is right.

for 3 room say the couple earn $2500 like in his example, cpf contribution to ordinary account would be $525. monthly instalment based on the selling price minus whatever grant is $636. so shortfall of $100+.

for 4 room say the couple earn $4500 like in his example, cpf contribution to ordinary account would be $945. monthly instalment based on the selling price minus whatever grant is $1225. so shortfall of $300. not the $50 or $60 he said.

for 5 room say the couple earn $6000 like in his example, cpf contribution to ordinary account would be $1260. monthly instalment based on the selling price minus whatever grant is $1588. so shortfall of $300+. again not the $50 or $60 he claimed.

is he lying or what. typical of MIW.

 

[keling is shit]

i think i know where the discrepancy lies already.

tan cj's calculation for the instalments is taking in account selling price - whatever deposit (10%?) you need to pay upfront. his loan amount is based on the selling price minus deposit.

he expects the purchasers to save up enough cpf in their OA for the deposit 1st.

so for 2 rooms, the couple earning 1k needs 48 mths to reach the 10k deposit.

for 3 rooms, couple earning 2.5k needs 33 months to reach 17k deposit.

for 4 rooms, couple earning 4.5k needs 30 months to reach 28k deposit.

for 5 rooms, couple earning 6k needs 28 months to reach 35k deposit.

 

[streetsmart73]

hi there


1. daft sheep easily assume everything is constant.
2. no illness or what.
3. no inflation or thing.
4. the dafter believer has no other commitment!
5. ageless leasees & cpf rates are constant!
6. btw,my middle finger is always constantly poking too.
7. just some textbook concept!

 

[hokkien]

Talk is easy,everyone knows

 

[sleaguepunter]

er.. his calculation also salah as he didnt factor in the reduction in contribution into OA once flat leasee reach 35yo/50yo55yo. i dont have the figure at the back of my hand but at 35yo, i think it 1% less to OA and into SA/MS. but once reach 50yo, the different can be huge as employer contribution will be much less..

so if the leasee took a 25yo loan at 30yo, his/her last 5 yrs of repayments will be tough. As a cleaner earning $1k, i dont see how much more a cleaner can get in 25yrs taking into account of the amount of FT is flooding in each year. who know technologies so advance and a machine will replay a human cleaner. he/she will be jobless while hdb repocess the flat.

 

[Jlokta]

er.. his calculation also salah as he didnt factor in the reduction in contribution into OA once flat leasee reach 35yo/50yo55yo. i dont have the figure at the back of my hand but at 35yo, i think it 1% less to OA and into SA/MS. but once reach 50yo, the different can be huge as employer contribution will be much less..

so if the leasee took a 25yo loan at 30yo, his/her last 5 yrs of repayments will be tough. As a cleaner earning $1k, i dont see how much more a cleaner can get in 25yrs taking into account of the amount of FT is flooding in each year. who know technologies so advance and a machine will replay a human cleaner. he/she will be jobless while hdb repocess the flat.

this TCJ fella like the rest of his 超级白 FB still thinks that citizens now are the same gullible bunch as those 50 years ago; that we will just take all off their bullshit wholesale without putting any thoughts into it.

fact is the world has progressed, only time in the ivory tower stayed still all these while.

 

[looneytan]

Talk is easy

Talk cock is even easier

 

[Narong Wongwan]

You all still bothered to calculate?

1k income dun say buy anything....i think eat also got problem.

Any sinkie living in sinkieland will know this is a fact.....maybe kindergarten kids with no concept of money might not not.