This guy says high HDB prices good woh!

[hockbeng]

With more people like this, the future generation is screwed!

Maybe this guy should also state if he has a significant stake in Spore's property market, or a beneficiary of high property prices.



Room for pragmatism

THE public reaction to rising prices of HDB flats appears to be largely prompted by young, middle class couples in the sandwich class, usually snagged by the $8,000 income ceiling.

They expect their first home to be first-rate, are unwilling to live in the new, outer suburbs, dislike lower floors and expect to get their flat immediately.

I hold a different view. Buyers who qualify to buy directly from the HDB should not take issue with the waiting period for build-to-order (BTO) flats. These flats are subsidised and not bought in the open market.

Buyers should also be open to buying flats in the outer suburbs.

It is not unusual for the price of inner-city housing to escalate as a city prospers. New buyers will just have to live farther away.

Successful buyers also reject flats on the lower floors during balloting for the sale of the balance flats. If they choose to do so, it is only fair that they queue up for the BTO scheme which means a longer waiting period.

Either that, or buy resale, which is dearer. Rather than complain about the high cash premiums, perhaps young couples should realise they must start saving from their first day of work if they wish to have their dream flat.

The Government should not be held accountable if a buyer wishes to have a more desirable flat but does not have enough Central Provident Fund savings.

It is also unreasonable to impose more restrictions on permanent residents (PRs) who buy resale flats. PRs already face more restrictions than citizens in buying public flats.

Allowing PRs to buy flats, and sell them after a regulated period in the open market, will give them a stake here and help Singapore grow.

The Government should come down hard on people who buy flats to rent them out illegally. Despite the rules, many flats are still wholly rented out via the loophole of a locked master bedroom. Perhaps the best way to stop this practice is to reward whistle-blowers.

Finally, as 86 per cent of the population are HDB flat owners, it is actually not a bad idea for the prices of HDB flats to appreciate.

Ng Kwong Yee

 

[Highfalutin]

Finally, as 86 per cent of the population are HDB flat owners, it is actually not a bad idea for the prices of HDB flats to appreciate.

I bet he can't substantiate his own statement.

 

[Leongsam]

I agree with him 100%. Nobody wants to be saddled with an asset that depreciates over time. Imagine a scenario where the homes were like cars..bought for a king's ransom only to depreciate 10% or more as the years went by. It would be a nightmare.

Rising home prices are a sure sign of a healthy and vibrant economy.

 

[hockbeng]

I agree with him 100%. Nobody wants to be saddled with an asset that depreciates over time. Imagine a scenario where the homes were like cars..bought for a king's ransom only to depreciate 10% or more as the years went by. It would be a nightmare.

Rising home prices are a sure sign of a healthy and vibrant economy.

There is a difference between price and value you twit.

Price = what you pay.

Value = what you get.

 

[Leongsam]

There is a difference between price and value you twit.

Price = what you pay.

Value = what you get.

"Value" is relative. For example, a couple may be willing to pay a higher price for an apartment close to their parents because they "value" the location and are willing to pay above prevailing market price to secure what they want.

Price is an absolute measurement and if the property market heads south, it spell bad news for everyone and is the major cause of bankruptcies.

 

[hockbeng]

Price is an absolute measurement and if the property market heads south, it spell bad news for everyone and is the major cause of bankruptcies.

Bankruptcies occur precisely because people couldn't differentiate between price and value.
Just because the last transacted price was $1 mil doesn't make it a bargain at $900k.
In a booming stock or property market, people's judgment gets clouded. They deserve to be bankrupt.

 

[Leongsam]

Bankruptcies occur precisely because people couldn't differentiate between price and value.
Just because the last transacted price was $1 mil doesn't make it a bargain at $900k.
In a booming stock or property market, people's judgment gets clouded. They deserve to be bankrupt.

I suggest you view the whole scenario from a better vantage point by taking a step back and not allowing emotion to cloud your judgment.

When I bought my first home in Sinkieland in 1980, I paid a $80,000 for a tiny rectangle of freehold land with a shitty house perched on top of it. Everyone thought I was crazy. "It's NOT WORTH IT" is what I was told by a countless number of Monday Morning Quarterbacks who were self proclaimed housing market experts.

I sold it for $2.3 million in 1995. Not a bad return over 15 years.

In the grand scheme of things, small fluctuations over the short term mean nothing and the price vs value debate is completely meaningless.

Anytime is a good time to buy. As long as a country is well run and the economy is healthy, property will make you wealthy. You just have to be in for the long haul.

 

[batman1]

Bankruptcies occur precisely because people couldn't differentiate between price and value.
Just because the last transacted price was $1 mil doesn't make it a bargain at $900k.
In a booming stock or property market, people's judgment gets clouded. They deserve to be bankrupt.

Everything in life in Singapore is about high HDB prices lah,en-bloc lah,upgrading lah, high rentals lah, high suicides lah,high divorce rates lah,high jobless rates lah, highest salaries in the planet lah,,,,,,,everything ...everything ... everything boils down to money $$$$$$$........no life at all ....everything only about $$$$$$$$$$$$$$$$$.
Singapore is a soulless corporation comprised mostly of greedy and coward digits.

 

[Highfalutin]

I suggest you view the whole scenario from a better vantage point by taking a step back and not allowing emotion to cloud your judgment.

When I bought my first home in Sinkieland in 1980, I paid a $80,000 for a tiny rectangle of freehold land with a shitty house perched on top of it. Everyone thought I was crazy. "It's NOT WORTH IT" is what I was told by a countless number of Monday Morning Quarterbacks who were self proclaimed housing market experts.

I sold it for $2.3 million in 1995. Not a bad return over 15 years.

I thought we were talking about fucking HDB apartments here? What HDB apartment can you buy with $80,000 today and in 15 years time have it appreciate in value to $2.5 millioin dollars? And then what? Buy another HDB apartment for $3.5 million dollars?

 

[kingrant]

Ah, Sam words of wisdom indeed. But these days, I have to concede that it is much more difficult to make that decision. Me too, at one time, I thought when I sold my apartment in 1976 for $475k and got a cap gain of $425K, I thot I have got a sucker. But now, it's asking for $1 million!

Prop prices shld appreciate gradually and steadily but must not run away with inflation.

I suggest you view the whole scenario from a better vantage point by taking a step back and not allowing emotion to cloud your judgment.

When I bought my first home in Sinkieland in 1980, I paid a $80,000 for a tiny rectangle of freehold land with a shitty house perched on top of it. Everyone thought I was crazy. "It's NOT WORTH IT" is what I was told by a countless number of Monday Morning Quarterbacks who were self proclaimed housing market experts.

I sold it for $2.3 million in 1995. Not a bad return over 15 years.

In the grand scheme of things, small fluctuations over the short term mean nothing and the price vs value debate is completely meaningless.

Anytime is a good time to buy. As long as a country is well run and the economy is healthy, property will make you wealthy. You just have to be in for the long haul.

 

[Leongsam]

I thought we were talking about fucking HDB apartments here? What HDB apartment can you buy with $80,000 today and in 15 years time have it appreciate in value to $2.5 millioin dollars? And then what? Buy another HDB apartment for $3.5 million dollars?

HDB apartments skyrocketed too. Homes bought for $30,000 were going for $500,000. When I was winging my way to Perth to settle in OZ , the guy sitting next to me on the plane was a heartlander (supervisor in SATS) who had just done the same thing I did. He had just cashed out and sold his Bishan 5 room apartment for an astronomical sum, bought landed property in Perth and couldn't wait to get his OZ passport so he could get his hands on his CPF money.

Rising property prices bring wonderful opportunites. Stop wasting time moaning and groaning and get on with improving your life by taking advantage of the opportunities that present themselves.

 

[Highfalutin]

HDB apartments skyrocketed too. Homes bought for $30,000 were going for $500,000. When I was winging my way to Perth to settle in OZ , the guy sitting next to me on the plane was a heartlander (supervisor in SATS) who had just done the same thing I did. He had just cashed out and sold his Bishan 5 room apartment for an astronomical sum, bought landed property in Perth and couldn't wait to get his OZ passport so he could get his hands on his CPF money.

Rising property prices bring wonderful opportunites. Stop wasting time moaning and groaning and get on with improving your life by taking advantage of the opportunities that present themselves.

I catch your drift but the majority of Singaporeans don't have the frontier spirit exemplified by yourself. So an appreciation in value of flats already own is just paper gain unless they cash out. How many have the qualifications to take up the emigrate option?

 

[cooleo]

I agree with him 100%. Nobody wants to be saddled with an asset that depreciates over time. Imagine a scenario where the homes were like cars..bought for a king's ransom only to depreciate 10% or more as the years went by. It would be a nightmare.

Rising home prices are a sure sign of a healthy and vibrant economy.

Can you list any country whereby after u buy a car, it will actually appreciate over the years?

Why compare houses to cars? Different nature altogether! I suggest that u stick to porn discussions which u are more adept at.

 

[mscitw]

Peasant Ng will do well in Imperial China, he certainly kowtows better than most peasants.

The pigeonholes contribute to the largest debt held by most peasants.

Banks and housing mafia earn interest income from the loans. A 22 year $300,000 loan will yield close to $200k interest income for a bank or housing mafia.

Peasant Ng is a disgrace to his ancestors, may he kowtow to the PAP in hades.

 

[Leongsam]

Can you list any country whereby after u buy a car, it will actually appreciate over the years?

Nowhere in my message did I even imply that cars appreciated you twit. You should go back to school to improve your comprehension skills.

 

[Stage 5]

So obvious this Ng fellow is a ghost writer...

 

[hockbeng]

HDB apartments skyrocketed too. Homes bought for $30,000 were going for $500,000. When I was winging my way to Perth to settle in OZ , the guy sitting next to me on the plane was a heartlander (supervisor in SATS) who had just done the same thing I did. He had just cashed out and sold his Bishan 5 room apartment for an astronomical sum, bought landed property in Perth and couldn't wait to get his OZ passport so he could get his hands on his CPF money.

Rising property prices bring wonderful opportunites. Stop wasting time moaning and groaning and get on with improving your life by taking advantage of the opportunities that present themselves.

Agreed!

We are all going to improve our lives come the next GE where we will vote oppostion!

 

[Leongsam]

It is a public housing scheme whose sole purpose is to provide affordable housing to its people.

Singaporeans have the opportunity to purchase brand new HDB 3 room apartments for less than $200,000. If that isn't a good deal, I don't know what is.

I can't think of many countries where young citizens can own their own homes at such low prices and with nary a dent to their monthly cashflow.

 

[Leongsam]

Agreed!

We are all going to improve our lives come the next GE where we will vote oppostion!

No you won't. :p I've heard that line since the early days of scs. The Pappies were going to be voted out in 1996. Then it was 2001. Guess what.. their popularity reached new heights. Then it was 2006.

Now it's 2010-11. No prizes for guessing what will happen.

 

[Leongsam]

I catch your drift but the majority of Singaporeans don't have the frontier spirit exemplified by yourself. So an appreciation in value of flats already own is just paper gain unless they cash out. How many have the qualifications to take up the emigrate option?

In the majority of cases, "Frontier spirit" is not something one is born with. It's an attitude... a state of mind that can be achieved simply by waking up one morning and saying "I want to make things better" and then setting out to do exactly that.

Emigrating does not require fancy qualifications. In most cases, trade skills are far more welcome than PhDs.