This is why Sinkies have to play the speculation game on their HDB flats

[Papsmearer]

Unker don't live in HDB flat, never have. But the con was obvious to me years ago. Most of the gong cheebyes here don't understand it. Now a few of my friends have been coming to me with the same problem.

They have flats which are now 40 years old plus or minus a few years. Of course, they are old now and want to sell and take the money. On paper, the valuation on their flats is close to half million $. And some of them have big units. 5 room flats, in those days was quite big. Now comes the problem. When they list with the property agent, they have only low ball offers. The reason is because no banks will provide housing loan for such an old flat. HDB will also not provide financing of such an old flat even though its their own flat! So, the flat has to be bought with cash.

Of course, very few sinkies have $500K sitting in their bank account to pay cash. And its only the younger people who are even coming for the viewing. So now, they have to low ball my friends. In some cases, offering $200K below the asking price. Its not their fault, that is all the available cash they can come up with. But at the offer price from the buyer, my friends cannot sell. If they sell, then Every 4 years, they will spend almost $100K to rent not even a fancy or large place. They are estimating $2K a month for any decent rental. They calculate that if they take one of these $300K offers, in 10-12 years, this money they get for their flat will be used up renting a replacement home. Then how. If they are dead by then, no problem. If not, then big problem.

The irony is that if they had sold their flats 10-15 years earlier. they could have gotten more money for it because its still barely eligible for house loan. What the PAP say about your flat being an appreciating value is a lie. What they say about monetizing the flat is also another lie. U can't monetize your flat if its too old and no one can or wants to buy it.

So what to do? The only thing to do is to speculate on your flat. If you think the market is high, then sell it, whether u want to or not. There is no other way. If u wait to long, u ride it down the drain.

 

[laksaboy]

The can of worms was opened during the Goh Chok Tong era and the 'asset enhancement' experiment begun. HDB housing became a platform for speculation and business opportunities for cronies (construction, upgrading).

I have also noticed quite a number of HDB propaganda posters on digital ad boards since last year or so. This was unprecedented.

 

[millim6868]

Lol, erection day pap told sinkies without them hdb are worthless, now now they k ow, with or without them its worthless,lol, jinx even try to pacified by saying take it as paying advance rent,that old cunt, worse ones are tgr on buy EC n condo, lol, sinkies are dumb let it be,they deserved it,more to come,lol, this is very hard to rectified even opposition took over as pap already created a no turning back situation, those benefits from all these are Papigs, unless a person hv freehold ,landed,if not only one pigeon holes they are dead , even there kids can be a beggar in rental flat in future as it is not affordable, lol

 

[millim6868]

Think there are 60% gong cb around,lol,now pap also cone with standard, etc,types of flats ,lol, ask those gong cb to think,but I doubt they will know,fir me I kept quiet n let those gong cb to suffer ,then they will know wat s happening,no pain no understand,vote pap,lol

 

[congo9]

Hm.
It's time to get another house and rent out your HDB to Extract direct benefit.

 

[mojito]

Unker don't live in HDB flat, never have. But the con was obvious to me years ago. Most of the gong cheebyes here don't understand it. Now a few of my friends have been coming to me with the same problem.

They have flats which are now 40 years old plus or minus a few years. Of course, they are old now and want to sell and take the money. On paper, the valuation on their flats is close to half million $. And some of them have big units. 5 room flats, in those days was quite big. Now comes the problem. When they list with the property agent, they have only low ball offers. The reason is because no banks will provide housing loan for such an old flat. HDB will also not provide financing of such an old flat even though its their own flat! So, the flat has to be bought with cash.

Of course, very few sinkies have $500K sitting in their bank account to pay cash. And its only the younger people who are even coming for the viewing. So now, they have to low ball my friends. In some cases, offering $200K below the asking price. Its not their fault, that is all the available cash they can come up with. But at the offer price from the buyer, my friends cannot sell. If they sell, then Every 4 years, they will spend almost $100K to rent not even a fancy or large place. They are estimating $2K a month for any decent rental. They calculate that if they take one of these $300K offers, in 10-12 years, this money they get for their flat will be used up renting a replacement home. Then how. If they are dead by then, no problem. If not, then big problem.

The irony is that if they had sold their flats 10-15 years earlier. they could have gotten more money for it because its still barely eligible for house loan. What the PAP say about your flat being an appreciating value is a lie. What they say about monetizing the flat is also another lie. U can't monetize your flat if its too old and no one can or wants to buy it.

So what to do? The only thing to do is to speculate on your flat. If you think the market is high, then sell it, whether u want to or not. There is no other way. If u wait to long, u ride it down the train.

HDB is for u to sell after mop what they want hold until maturity?

 

[Papsmearer]

Think there are 60% gong cb around,lol,now pap also cone with standard, etc,types of flats ,lol, ask those gong cb to think,but I doubt they will know,fir me I kept quiet n let those gong cb to suffer ,then they will know wat s happening,no pain no understand,vote pap,lol

The problem is 60% gong cheebye drag us down too. Its easy to say leave them alone. But the other 40% woken have to suffer along with this bastards through no fault of ours.

 

[blackmondy]

Unker don't live in HDB flat, never have. But the con was obvious to me years ago. Most of the gong cheebyes here don't understand it. Now a few of my friends have been coming to me with the same problem.

They have flats which are now 40 years old plus or minus a few years. Of course, they are old now and want to sell and take the money. On paper, the valuation on their flats is close to half million $. And some of them have big units. 5 room flats, in those days was quite big. Now comes the problem. When they list with the property agent, they have only low ball offers. The reason is because no banks will provide housing loan for such an old flat. HDB will also not provide financing of such an old flat even though its their own flat! So, the flat has to be bought with cash.

Of course, very few sinkies have $500K sitting in their bank account to pay cash. And its only the younger people who are even coming for the viewing. So now, they have to low ball my friends. In some cases, offering $200K below the asking price. Its not their fault, that is all the available cash they can come up with. But at the offer price from the buyer, my friends cannot sell. If they sell, then Every 4 years, they will spend almost $100K to rent not even a fancy or large place. They are estimating $2K a month for any decent rental. They calculate that if they take one of these $300K offers, in 10-12 years, this money they get for their flat will be used up renting a replacement home. Then how. If they are dead by then, no problem. If not, then big problem.

The irony is that if they had sold their flats 10-15 years earlier. they could have gotten more money for it because its still barely eligible for house loan. What the PAP say about your flat being an appreciating value is a lie. What they say about monetizing the flat is also another lie. U can't monetize your flat if its too old and no one can or wants to buy it.

So what to do? The only thing to do is to speculate on your flat. If you think the market is high, then sell it, whether u want to or not. There is no other way. If u wait to long, u ride it down the drain.

Many dumb sinkies still believe that their HDB flat is an appreciation asset.

 

[Papsmearer]

Many dumb sinkies still believe that their HDB flat is an appreciation asset.

yes, problem is these dumb singaporeans are dragging down the smart ones too

 

[eatshitndie]

Hm.
It's time to get another house and rent out your HDB to Extract direct benefit.

many sinkie sextended families doing that already. father buys landed long time ago, mother decouples from father in title of landed property and buys a condo for 1 of 2 sons usually the unmarried one, 1st son buys bto with wife, after mop decouples from wife on bto and gets wife to buy condo with 99% to 1% ownership. couple rents out bto and moves to condo, earns rental incum for family. unmarried son moves in with parents in landed property and rents out condo. small family, 4 homes, 2 rental incum. father and mother buay song daughter in law has (almost) sole title to condo, thus “contributes” 1% ownership to have father’s name on title. he pays absd on only 1% while helping daughter in law (dil) to pay bsd on condo. dil borrows from bank but couple pays mortgage jointly after big deposit (gift) by parents to lessen the loan. rental yields are now so high they help pay off 2 homes that are rented. less financial stress on 2 sons and 1 dil thus these young punks spend their salaries on fancy cars - a reason why coe goes up too. 6 out of 9 sinkie families i know follow these steps - this is why pappies have solid >60% support. huat ah!

 

[JohnTan]

Many dumb sinkies still believe that their HDB flat is an appreciation asset.

Many sinkies bought their HDB flats for pennies on the dollar. Their HDB flats today are likely 50% to 200% higher than their purchase price.

 

[Papsmearer]

Many sinkies bought their HDB flats for pennies on the dollar. Their HDB flats today are likely 50% to 200% higher than their purchase price.

Whatever. U obviously have no concept of future value.

 

[Loofydralb]

Unker don't live in HDB flat, never have. But the con was obvious to me years ago. Most of the gong cheebyes here don't understand it. Now a few of my friends have been coming to me with the same problem.

They have flats which are now 40 years old plus or minus a few years. Of course, they are old now and want to sell and take the money. On paper, the valuation on their flats is close to half million $. And some of them have big units. 5 room flats, in those days was quite big. Now comes the problem. When they list with the property agent, they have only low ball offers. The reason is because no banks will provide housing loan for such an old flat. HDB will also not provide financing of such an old flat even though its their own flat! So, the flat has to be bought with cash.

Of course, very few sinkies have $500K sitting in their bank account to pay cash. And its only the younger people who are even coming for the viewing. So now, they have to low ball my friends. In some cases, offering $200K below the asking price. Its not their fault, that is all the available cash they can come up with. But at the offer price from the buyer, my friends cannot sell. If they sell, then Every 4 years, they will spend almost $100K to rent not even a fancy or large place. They are estimating $2K a month for any decent rental. They calculate that if they take one of these $300K offers, in 10-12 years, this money they get for their flat will be used up renting a replacement home. Then how. If they are dead by then, no problem. If not, then big problem.

The irony is that if they had sold their flats 10-15 years earlier. they could have gotten more money for it because its still barely eligible for house loan. What the PAP say about your flat being an appreciating value is a lie. What they say about monetizing the flat is also another lie. U can't monetize your flat if its too old and no one can or wants to buy it.

So what to do? The only thing to do is to speculate on your flat. If you think the market is high, then sell it, whether u want to or not. There is no other way. If u wait to long, u ride it down the drain.

Poor dumb Sinkies don't realise that it's a trap. They'll never be able to monetize their 'ass-et'.
But here is the kicker... PAP recently put in a new condition, on top of the one described above, just to seal your fate.
The next buyer of your flat must be able to live in it until they're 94 and within it's lease period. Otherwise they are not eligible to buy your flat even if they pay cash!
Now repeat after me....

BYE BYE CPF!!!

 

[JohnTan]

Whatever. U obviously have no concept of future value.

Sinkies bought BTO in 1983 for $50k. In 2023, same BTO flat is worth $500k despite 59 years left on the lease. Good future value.

 

[Loofydralb]

Whatever. U obviously have no concept of future value.

This idiot has no inkling that whatever you cannot turn into cash in your hands, isn't yours.
Just as idiotic as acknowledging his God shat! And his God wiped faeces from the butt haha

 

[Papsmearer]

Sinkies bought BTO in 1983 for $50k. In 2023, same BTO flat is worth $500k despite 59 years left on the lease. Good future value.

Don't talk cock lah. Your lying is so pathetic. In 1983, there was NO BTO. BTO flats were only introduced in 2001. In 1983, you can buy a 5 room flat for $100K. The most expensive unit sold by HDB was a maisonette in Bedok Reservoir for $125K. Today, 40 years later, that $100K flat u bought in 1983, u will be lucky to get $300K for it. That's because no bank will finance a 40 year old flat, so the buyer needs to pay cash. If you had invested $100k in 1983, its probably worth close to $500K today. SO your lousy flat is not even close to that.

 

[k1976]

Cannot be, many sinki claimed that they are very very rich De woh... They talk like machiam 1-2m ish not money like kopitiam, why hah?

Unker don't live in HDB flat, never have. But the con was obvious to me years ago. Most of the gong cheebyes here don't understand it. Now a few of my friends have been coming to me with the same problem.

They have flats which are now 40 years old plus or minus a few years. Of course, they are old now and want to sell and take the money. On paper, the valuation on their flats is close to half million $. And some of them have big units. 5 room flats, in those days was quite big. Now comes the problem. When they list with the property agent, they have only low ball offers. The reason is because no banks will provide housing loan for such an old flat. HDB will also not provide financing of such an old flat even though its their own flat! So, the flat has to be bought with cash.

Of course, very few sinkies have $500K sitting in their bank account to pay cash. And its only the younger people who are even coming for the viewing. So now, they have to low ball my friends. In some cases, offering $200K below the asking price. Its not their fault, that is all the available cash they can come up with. But at the offer price from the buyer, my friends cannot sell. If they sell, then Every 4 years, they will spend almost $100K to rent not even a fancy or large place. They are estimating $2K a month for any decent rental. They calculate that if they take one of these $300K offers, in 10-12 years, this money they get for their flat will be used up renting a replacement home. Then how. If they are dead by then, no problem. If not, then big problem.

The irony is that if they had sold their flats 10-15 years earlier. they could have gotten more money for it because its still barely eligible for house loan. What the PAP say about your flat being an appreciating value is a lie. What they say about monetizing the flat is also another lie. U can't monetize your flat if its too old and no one can or wants to buy it.

So what to do? The only thing to do is to speculate on your flat. If you think the market is high, then sell it, whether u want to or not. There is no other way. If u wait to long, u ride it down the drai

 

[k1976]

Don't talk cock lah. Your lying is so pathetic. In 1983, there was NO BTO. BTO flats were only introduced in 2001. In 1983, you can buy a 5 room flat for $100K. The most expensive unit sold by HDB was a maisonette in Bedok Reservoir for $125K. Today, 40 years later, that $100K flat u bought in 1983, u will be lucky to get $300K for it. That's because no bank will finance a 40 year old flat, so the buyer needs to pay cash. If you had invested $100k in 1983, its probably worth close to $500K today. SO your lousy flat is not even close to that.

Why many people dun believe in this? Many still try to sell their 40yrs old hdbee at 500k and above De woh

 

[sbfuncle]

Why bank doesn't want to issue loans for 40 years old flat ? 40 years still a long long way.
Bank can issue loans for car even just a few years left .
By right, approvals of loan should be tagged to the borrower's age and not the balance lease.

 

[JohnTan]

Don't talk cock lah. Your lying is so pathetic. In 1983, there was NO BTO. BTO flats were only introduced in 2001. In 1983, you can buy a 5 room flat for $100K. The most expensive unit sold by HDB was a maisonette in Bedok Reservoir for $125K. Today, 40 years later, that $100K flat u bought in 1983, u will be lucky to get $300K for it. That's because no bank will finance a 40 year old flat, so the buyer needs to pay cash. If you had invested $100k in 1983, its probably worth close to $500K today. SO your lousy flat is not even close to that.

BTO is just HDB flats. People who bought HDB flats mostly made money. Only retards can lose money on HDB flats.