Think PAP is doing a good job of HDB? Think again.

[Voldermort]

If you go beyond the usual "no blame" attitude whenever PAP fails, this ST article states that 14,600 units were produced in 2019. However, demand was 38,500 units in 2018.

That is to say, that production is only 37% of the previous year's demand. PAP will of course, blame the pandemic for production numbers not keeping up with demand- but they have NO excuse for 2019.

This shows either a failure in planning, or an intentional tactic PAP is using to restrict supply in order to drive property prices up.

HDB is a shining example of a PAP institution that has lost its way.

https://shrtcô.de/b3s7ba

 

[eatshitndie]

manipulating supply side economics to boost demand and prices so every sinkie already with a flat can huat (ah)! no point building in a frenzy to sextisfy demand 100% every year. best is build only 36.9% per year so the wait becums worthwhile and more valuable mah as sinkies like to queue long long and jack up prices. higher the price more atas the flat.

 

[mojito]

HDB has been making heavy losses selling those flats. U trying to raid the reserves?

 

[Boliao]

HDB has been making heavy losses selling those flats. U trying to raid the reserves?

Bullshit.. cost of building a HDB flat is less than $100k. They are making heavy losses "from market price" not cost.

 

[bobby]

Public housing is not public housing if the public cannot afford it.....

 

[CPTMiller]

If you go beyond the usual "no blame" attitude whenever PAP fails, this ST article states that 14,600 units were produced in 2019. However, demand was 38,500 units in 2018.

That is to say, that production is only 37% of the previous year's demand. PAP will of course, blame the pandemic for production numbers not keeping up with demand- but they have NO excuse for 2019.

This shows either a failure in planning, or an intentional tactic PAP is using to restrict supply in order to drive property prices up.

HDB is a shining example of a PAP institution that has lost its way.

https://shrtcô.de/b3s7ba

How do Singapore maintain high property prices if HDB match the demand and supply??
This is their planning.
You just come Singapore yesterday?

 

[Boliao]

2021 HDB pricing index

HDB pricing index is at its highest. In 2021, they say it is more affordable then than 10 years ago but just playing with words. It is more affordable than 10 years ago but still unaffordable, it was just ridiculously unaffordable 10 years ago and at present.

 

[Filloz]

The logic for funding with properties for CPF-OA is like a scam.

If I leave my money with CPF, I get 2.5%pa. By selling expensive HDBs to you, you ended up transfering to YOUR OWN CPF-OA MONEY to pay for the loan and must pay back the 2.5%pa when you sell the property. You ended up paying interest to your CPF savings, instead of CPF board.

In addition, HDB makes 2.6%pa from you for any outstanding loan amount.

 

[borom]

If they do not make money, how are the ministers going to be paid the highest salaries in the world.? How about HC's salary ?
Paying the highest salary attract the wrong type to public service and unless we cut or untie that Gordian knot., just be prepared to suffer more
,

 

[laksaboy]

I have feeling those old vintage HDB flats will structurally last longer than those modern 40-storey ones, those with mandatory multi-storey carparks, roof gardens etc.

 

[Boliao]

I have feeling those old vintage HDB flats will structurally last longer than those modern 40-storey ones, those with mandatory multi-storey carparks, roof gardens etc.

Colonial era buildings are definitely better built. The irons, bricks and even cement are stronger than what is used today. The building materials we used today are far cheaper but of lesser quality. You can hardly find cracks/ leakage in old colonial era buildings but they can be easily found in newer buildings that are just 3-5 years old.

That said, we probably wouldn't see problems until much later as only those built in the last 20 years have raw material problem. By then, current PAP leaders will be up the lorry already; so not their problems anymore.

 

[covertbriar]

Don't expect much from a clown who calls a landslide a "slope failure".

 

[winnipegjets]

If sinkees are happy with the whole HDB scheme, all is fine. They don't need to see the light. The PAP will always look out for sinkees.

 

[eatshitndie]

if couples are willing to wait 6.9 years for a bto flat, it proves that demand in sg is still high and buyers are willing to pay the price (and time) for their homes. you can’t fault the market for jacking up the price if demand outstrips supply. compare this to sf and silicon valley where even a couple with a combined or household incum of us$369k pa can’t afford a decent home. they either rent a 3-bed at us$6.9k per month or put up with parents. a new 3-bed condo in silicon valley is at least over a million, a 3-bed townhome is at least us$1.5m (new is $1.9m), and a 3-bed single family home is at least us$2m. no pubic housing for families with household incums over us$69k. even if there is nobody sane wants it as it’s gangbanger ghetto meant for niggers. how is a couple with us$369k pa incum able to pay all cash for a $1m condo or $1.5m townhome? forget about single family homes. those are unattainable for young couples these days. all cash buys are the rage these days as mortgage rates are nearing 6.9%. and who have $2m all cash to spare bidding on a house with 69 other all cash bidders (thanks to tiongs laundering money out of prc)?

young sinkie couples are lucky they have pap in charge. a sg$699k hdb flat is a steal! huat ah!

 

[laksaboy]

Don't expect much from a clown who calls a landslide a "slope failure".

'Slope failure' is what I expect from an incompetent barber when he gives me a haircut.

 

[JohnTan]

HDB has been making heavy losses selling those flats. U trying to raid the reserves?

Don't be silly. Our reserves are intact. HDB losses are closely matched by revenue booked from the Singapore Land Authority as HDB buys all of its land at market price from Singapore Land Authority.

 

[birdie69]

If they do not make money, how are the ministers going to be paid the highest salaries in the world.? How about HC's salary ?
Paying the highest salary attract the wrong type to public service and unless we cut or untie that Gordian knot., just be prepared to suffer more
,

It was reported that HDB has been making losses of billions $ every year for building low price flats for Singaporeans

 

[Boliao]

It was reported that HDB has been making losses of billions $ every year for building low price flats for Singaporeans

Common sense tells you that is impossible when land belongs to the Gov. The only cost involved is building cost and there is no way HDB is making losses selling at these prices even if they heavily inflate all other indirect costs.

 

[Boliao]

compare this to sf and silicon valley where even a couple with a combined or household incum of us$369k pa can’t afford a decent home. they either rent a 3-bed at us$6.9k per month or put up with parents. a new 3-bed condo in silicon valley is at least over a million, a 3-bed townhome is at least us$1.5m (new is $1.9m), and a 3-bed single family home is at least us$2m. no pubic housing for families with household incums over us$69k.

young sinkie couples are lucky they have pap in charge. a sg$699k hdb flat is a steal! huat ah!

Bullshit

https://www.zillow.com/homedetails/251-Harold-Ave-San-Francisco-CA-94112/15188056_zpid/

https://www.zillow.com/homedetails/631-29th-Ave-San-Francisco-CA-94121/2096310008_zpid/

 

[eatshitndie]

Bullshit

View attachment 159723
https://www.zillow.com/homedetails/251-Harold-Ave-San-Francisco-CA-94112/15188056_zpid/

View attachment 159724
https://www.zillow.com/homedetails/631-29th-Ave-San-Francisco-CA-94121/2096310008_zpid/

so stupid. you believe zillow huh? zillow is in trouble because they fuck up their estimates. they had to pull out of their flipping biz because they lost billions of dollars flipping thousands of homes. vast majority of their flips sold at losses while every real estate agent in the cuntry made money selling homes in a sellers’ market. how fucked up can that be?

if you want to see real listing prices you need to check with real listing agents. they will list low to attract bidders, and the homes will typically be sold for 300k to 500k over asking. there will be some that sell for $1m over asking. the bidding war is still hot despite the rate increase. this 4 bedroom was listed at less than us$2.5m and sold for $3.5m.
https://www.sfgate.com/realestate/a...-sells-for-1-million-over-asking-16695641.php