Daft netizens misunderstood DPM Tharman again

[Rogue Trader]

Netizens in an uproar over minister's comments

Zenzen
inSing.com - 45 mins ago

Deputy Prime Minister Tharman Shanmugaratnam speaking in Parliament on Thursday. (Pic / Screencap)
An uproar has occurred online following Deputy Prime Minister Tharman Shanmugaratnam's comments in Parliament on Thursday.

He had said that it's possible for Singaporeans to buy a small HDB flat with a monthly income of $1,000.

DPM Tharman had said this in response to a speech that Non-Constituency Member of Parliament Gerald Giam made on Wednesday, 29 Feb.

According to The Straits Times, Mr Giam said in parliament that economic growth should go hand-in-hand with fairer distribution of wealth.

He also said that younger Singaporeans from low-income households continue to find it hard to afford a HDB flat.

In response, DPM Tharman told Mr Giam to "catch up" with the "major moves" the government had already made in the past five years.

He said, "A family with a $1,000 income can now, through our housing subsidies, purchase a small flat."

He continued, "Of course, if you have $1,200 or $1,500, you can purchase a medium size flat."

The government currently has schemes to help low income families, including a Additional Housing grant of up to $40,000 and a Special Housing Grant of up to $20,000.

A netizen, 'Chiong', agreed with DPM Tharman, pointing out that a two-room flat could be bought for about $100 a month on a 30-year loan, according to the HDB website.

But other netizens point out that even if one can afford a small flat with a $1,000-a-month salary, the person will still have a hard time with "electric bills, gas, water and furniture installments".

One netizen 'Marill' worked out the math.

In a scenario where a person earning $1,300 a month buys a "medium size" three-room flat, he would have to pay about $474 a month (according to the HDB website), for 30 years.

The person would be left with about $800 a month to survive , and have no money in his CPF account at the end of 30 years.

See a short clip of DPM Tharman's speech here:

[Cestbon]

$1k salary/month can afford to buy 2 room or 3 room flat!
Consider 2 room price $100k and 3 room price $150k.
After deduct $40k grant still need to pay $60k for 2 room and $110k for 3 room.
Actually $1000 pay can afford to buy 2 room without cash from pocket.
All installment will be from CPF ordinary account. But in the end when retired there will not be single cent in OA.

[po2wq]

... He said, "A family with a $1,000 income can now, through our housing subsidies, purchase a small flat."

He continued, "Of course, if you have $1,200 or $1,500, you can purchase a medium size flat." ...

... The person would be left with about $800 a month to survive , and have no money in his CPF account at the end of 30 years. ...

dat botakz correct la ...

he said buy flat oni wat! ... he never said u oso muz eat, muz haf moni in ur cpf after 30 yrs wat! ...

[chupacabra]

Rather than trying to fit the price of a HDB flat to low wage earners, it's better for these workers to earn a decent wage relative to the cost of living. What's the use living in a tiny hdb flat with ever increasing bills to pay and still stuck with a pay that was meant to live on in the 70s and 80s.

[Narong Wongwan]

dat botakz correct la ...

he said buy flat oni wat! ... he never said u oso muz eat, muz haf moni in ur cpf after 30 yrs wat! ...

"How much do you want? Do you want three meals in a hawker centre, food court or restaurant?....EVEN IF you can't afford to buy food, we will have meals delivered to you...

[bhoven]

"How much do you want? Do you want three meals in a hawker centre, food court or restaurant?....EVEN IF you can't afford to buy food, we will have meals delivered to you...

Its the eight dollar heart bypass operation again....

[Microsoft]

Small HDB flat of de future...dun b fool by de size...it gonna cost u 360k...cash n carry...oh when dey say carry...dey mean it...

[po2wq]

Small HDB flat of de future...dun b fool by de size...it gonna cost u 360k...cash n carry...oh when dey say carry...dey mean it...

u mean u can carry it n den park it @ east coast? ...

[Microsoft]

u mean u can carry it n den park it @ east coast? ...

Can...parking fees at East Coast n Orchard Load...bery different u noe...

Bery flexible sistem...got moni park orchard...lost ur job park lim chu kang...no nid 2 sell hse...

[djent]

An excerpt:

UPDATE: In a comment, a reader pointed out that he or she lives quite comfortably as a single for under $1000. So the sensible thing to do is not to climb Everest with one are tied behind your back by trying to start a family and own a home on an income of $1000 - its going to be a long hard painful struggle. Another commenter tried to read Tharman's mind and he did a good job. Tharman's claim is probably based on a combined grant of AHG + SHG [Link] that works out to be $60,000. But to qualify for these grants a man with low income of $1000 has to be married to a PR or citizen - this is an assumption because many low income workers have not been able to get PR for their foreign spouses who are granted only long term visit passes. Assuming he can find a 2-rm flat costing about $100,000 near his workplace for $1000 (it has to be near otherwise transport costs will drain his $1000 income), he will service a 30 yr loan of about $40K paying $160 from his CPF every month.. Assuming none of the numerous problems crop up during this 30 yrs and he lives a spartan lifestyle and don't have children(?), he owns the flat after working continuously for 3 decades. So what does he do the day he stops work? He probably has to reverse-mortgage his home back to the HDB because he has no money to retire. So what is the purpose of this whole exercise? ....To show that you can struggle for 30 yrs to own a flat that you have to give back when you finish paying....and prove Minister Tharman right! To perform this feat with no financial buffer serving as margin for error...many of these families will lose their home due to unemployment, illness, emergencies, inflation in cost of living etc. You try to make those low wages do wonders when you should be asking why wages are so low - no developed nation has workers who work full time earning $1000 a month except in Singapore. Minister Tharman in making his extraordinary claim simply expose the extraordinary income disparity the PAP system has created.

http://singaporemind.blogspot.com/20...e-can-own.html

[zhihau]

An excerpt:
Minister Tharman in making his extraordinary claim simply expose the extraordinary income disparity the PAP system has created.
http://singaporemind.blogspot.com/20...e-can-own.html

reminds me of me previous post on shrinking family size & shrinking living space having an impact on our social structure *sighs* these folks in the ivory tower 底做么?

[Fook Seng]

Instead of trying to find ways to improve the lot at the lowest strata, they are trying to justify that their condition is acceptable. These groups of people will not have their situation improved any time soon.

[zhihau]

These groups of people will not have their situation improved any time soon.

these group of folks would have to first help themselves. they can do so by voting in a caring Government

[lianbeng]

lianbeng noted gerald giam again kana tekan jialat jialat liao.
last time teo ch caught him off-guard with MX9 question now he kana tharmanized with 1K hdb flat.

[zhihau]

tharmanized with 1K hdb flat.

ahhhahahahah... ahahahaha

bro, my beehoon almost came through my nostrils!!!

[lianbeng]

Deputy Prime Minister Tharman Shanmugaratnam speaking in Parliament on Thursday. (Pic / Screencap)
[FONT=arial]

"u see my shiny botak head?"

[po2wq]

"u see my shiny botak head?"

it has made dat botak dawg hide his head in shame ...

[Sir_Fcuk]

Wow.... since when was Tharman DPM?

[Bigfuck]

Since so many citizens misunderstand the PAP, is it not time that the people elect someone who is clear in explanation and not easily misunderstood? Is it not the PAP misunderstanding the people? Can you imagine that when the people ask for more competitive taxes, the PAP raise taxes to 50%.No we cannot have that can we. Or perhaps a lower vote percentage will compel PAP to understand better?