HDB Mortgage SLAVES

[theDoors]

Another forummer "Skeptical" shared that "my wife and I don't club, don't drink, don't smoke, don't drive, hardly shop and I have paid off about $60,000 of loan after five years. I am a month away from 31 years old and I don't even have $10,000 of savings to my name".

He also wrote that after graduation, he had to pay off study loans, spent an additional $22,000 on an MBA and purchased an HDB flat in 2007 at the height of the property market.

He concluded, "I too would like to save up one third of my salary but it really isn't too realistic if you would like to have your own place and your parents are too poor to help you with the down payment."

The true state of affairs of the Singaporean newly weds.

After 5 years of working, 31 year old graduate doesn't even have $10k to his name.

 

[scroobal]

Sad but understandable.

The true state of affairs of the Singaporean newly weds.

After 5 years of working, 31 year old graduate doesn't even have $10k to his name.

 

[theDoors]

The, New, Sandwich, Class

http://us.asiancorrespondent.com/my-singapore-news/the-new-sandwich-class

The, New, Sandwich, Class

Many Singaporeans are celebrating their good fortunes for sitting on a property, especially HDB flats, with prices that are almost guaranteed to go up and up even if they are only on 99 year lease. I wonder how many millions will they fetch when the lease expires? But this is only the happy side of the story. There is a little corner with people that are very unhappy, very angry and feeling victimised.

A letter was written to the ST forum by a Yvon Lim questioning whether the $8,000 household income ceiling for eligibility to buy public flats is realistic. She belongs to the New Sandwich Class, highly educated professionals earning more than $4,000 monthly. Their sin is for earning too much vis a vis the average Singaporeans. Their second sin was to waste too much time studying and working and failing to find a mate before their income crosses the magical $4,000 pm mark. Her plight is very common among the young professionals whose starting salary is in the region of $3000 to $4000. And they are likely to find a mate that earns a similar income.

So? Well, their combined income will now exceed the $8,000 ceiling and they will not be eligible to buy public flats, (with market price subsidy) from the HDB. And if they buy from the resale market, they will not be entitled to any housing grant or rebates. The problem with this group of young professionals is that many would not have worked long enough to accumulate much savings to buy the flats which requires a big down payment that they could barely afford. Forget about privately developed flats which are even more costly unless they are prepared to bear with it by taking a huge mortgage and to pay for 30 years.

The New Sandwich Class should blame themselves for their own undoing, a bit too clever to earn more than $4,000 pm but a bit too slow to find a mate before their salaries go pass this level. Just too bad. Nobody knows that they exist. Perhaps one day when the number is bigger, or they cry a bit louder. Or someone will tell them to stop whining and count their blessing for being in the higher income group. They should thank their good fortune for not belonging to the HDB class.

 

[theDoors]

The New Sandwich Class should blame themselves for their own undoing, a bit too clever to earn more than $4,000 pm but a bit too slow to find a mate before their salaries go pass this level. Just too bad. Nobody knows that they exist. Perhaps one day when the number is bigger, or they cry a bit louder. Or someone will tell them to stop whining and count their blessing for being in the higher income group. They should thank their good fortune for not belonging to the HDB class.

Combined income of $8001 put you in a spot where you have to buy a HDB resale flat as a condo is still out of reach. You have to finance the purchase with a bank loan , as you not eligible for a HDB loan, nor are you entitled to $40k subsidy for buying a flat near your parents.

This segment of the newly weds have to compete with the PRs and pay ridiculous COV cash over valuation to secure their flat of choice.

 

[littlefish]

From the book 1984 by George Orwell

Freedom is Slavery: The argument behind "Freedom is Slavery" is a simple one. How can one man build a bridge, a skyscraper, or anything large on their own? The simple answer is that one alone cannot build these things without help. Thus the individual is powerless, and individual freedom weakens the individual by making it impossible to do anything grand. Therefore, to do anything grand, a person must join up with others and suppress their own will and personal freedoms. Otherwise, they achieve nothing, and destroy any attempt to achieve anything by doing so. The only true freedom a person has is the freedom to submit to a larger group and to influence that group by helping it. Therefore, freedom is slavery.

Nice. But who can explain this argument to the poor souls who got dragged to build the Great Wall of China or the Burma Railway unwillingly? I guess they should have looked at the bigger picture of freedom is slavery and died happy.

 

[theDoors]

I guess they should have looked at the bigger picture of freedom is slavery and died happy.

Indeed. Singaporeans should looked at the bigger picture.

They should be grateful; thank the government for building HDB flats, pay ridiculous prices for them and die happy paying for it.

 

[theDoors]

Indeed. Singaporeans should looked at the bigger picture.

They should be grateful; thank the government for building HDB flats, pay ridiculous prices for them and die happy paying for it.

http://www.youtube.com/watch?v=Z7BuQFUhsRM

“You know, I know this steak doesn't exist. I know that when I put it in my mouth, the Matrix is telling my brain that it is juicy and delicious. After nine years, you know what I realize? [Takes a bite of steak]. Ignorance is bliss.”

 

[theDoors]

Indeed. Singaporeans should looked at the bigger picture.

They should be grateful; thank the government for building HDB flats, pay ridiculous prices for them and die happy paying for it.

Repeat to yourself:

HDB flats are affordable
HDB flats are affordable
HDB flats are affordable
HDB flats are affordable
HDB flats are affordable

If in doubt, repeat again...

 

[theDoors]

Repeat to yourself:

HDB flats are affordable
HDB flats are affordable
HDB flats are affordable
HDB flats are affordable
HDB flats are affordable

If in doubt, repeat again...

What is real?

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[theDoors]

Trust me they are afraid, very afraid.

You know how I can tell, they are tightening the screws even harder/increasing the HDB prices to ridiculous levels.

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People should not be afraid of their governments. Governments should be afraid of their people.

 

[theDoors]

Repeat to yourself:

HDB flats are affordable
HDB flats are affordable
HDB flats are affordable
HDB flats are affordable
HDB flats are affordable

If in doubt, repeat again...

Our frequent doses of "IRON" truth: HDB flats are AFFORDABLE

Sep 15, 2009
HDB flats still affordable
8 in 10 households qualify for grants; first-timers use less than 30% of household income to service loans

By Goh Chin Lian, Senior Political Correspondent

HDB flats still affordable, says Mah

8 in 10 households qualify for grants; first-timers use less than 30% of household income to service loans. -ST

Thu, Sep 17, 2009
The Straits Times

By Goh Chin Lian, Senior Political Correspondent

Flat prices will rise but still be affordable
December 14, 2009 Monday, 05:25 AM

SINGAPOREANS can expect the prices of HDB flats to keep on rising as long as the economy continues to grow, Minister Mentor Lee Kuan Yew said yesterday.

Housing prices set to rise, but govt committed to affordable homes
By Joanne Chan, Channel NewsAsia | Posted: 29 December 2009 2315 hrs

HDB flat supply will meet demand: Mah

Sat, Jan 16, 2010
The Straits Times
By Rachel Chang

This means they can comfortably buy any of the flats offered in the latest BTO projects this month, said Mr Mah.

 

[theDoors]

Dose of Truth on: HDB pricing

Jan 17, 2010
Are foreigners to blame?
By Jeremy Au Yong

The Law Minister's key message: It is unfair to cast foreigners as the villains driving up the prices of HDB flats.

The law minister is telling the truth. Foreigners are not the culprits.

Foreigners AND government are the culprits .

Our law minister is a honest man.

 

[theDoors]

Housing Debt Bonds

Mission:Sell 30 year bonds paying 2.6% interest by packaging cement and bricks as housing.

Current Architect:

 

[IR123]

Nice. But who can explain this argument to the poor souls who got dragged to build the Great Wall of China or the Burma Railway unwillingly? I guess they should have looked at the bigger picture of freedom is slavery and died happy.

You have misapplied the thoughts of Orwell.

 

[theDoors]

The Law Minister's key message: It is unfair to cast foreigners as the villains driving up the prices of HDB flats.

The government is very honest. They admit prices of HDB flats is being driven up.

The trick is how they try to CONvince you it's affordable.

 

[theDoors]

The government is very honest. They admit prices of HDB flats is being driven up.

The trick is how they try to CONvince you it's affordable.

Everyone repeat:

High prices is affordable

Polite fiction refers to a social scenario in which all participants are aware of a truth, but pretend to believe in some alternative version of events to avoid conflict or embarrassment. Polite fictions are closely related to euphemism, in which a word or phrase that might be impolite, disagreeable, or offensive is replaced by another word or phrase that both speaker and listener understand to have the same meaning. In scholarly usage, "polite fiction" can be traced to at least 1953.[1]

An example would be of a man who goes out drinking, but tells his family that he is merely going for an evening walk to enjoy the night air. Even though everyone knows he will only be walking as far as the bar and will come home drunk, they all pretend that he really is going out for a walk, and pretend not to notice his drunkenness when he returns. Another common example is a couple that has had an argument, after which one of them absents him or herself from a subsequent social gathering, with the other claiming that he or she is "ill".

Polite fictions can slip into denial. This is especially the case when the fiction is actually meant to fool some observers, such as outsiders or children judged too young to be told the truth. The truth then becomes "the elephant in the room"; no matter how obvious it is, the people most affected pretend to others and to themselves that it isn't so. Again, this can be used to humorous effect in comedy, where a character will seem bent on working overtime to make it possible to maintain the polite fiction.

In this case is political fiction.

 

[theDoors]

Fellow Singaporeans free your minds, it's time to deconstruct the MYTH that high prices is affordable.

Deconstruction is the name which was given by French philosopher Jacques Derrida to an approach (whether in philosophy, literary analysis, or in other fields) which rigorously pursues the meaning of a text to the point of undoing the oppositions on which it is apparently founded, and to the point of showing that those foundations are irreducibly complex, unstable or impossible. Deconstruction has close intellectual links to critical theory.

Deconstruction generally attempts to demonstrate that any text is not a discrete whole but contains several irreconcilable and contradictory meanings; that any text therefore has more than one interpretation; that the text itself links these interpretations inextricably; that the incompatibility of these interpretations is irreducible; and thus that an interpretative reading cannot go beyond a certain point. Derrida refers to this point as an aporia in the text, and terms deconstructive reading "aporetic." J. Hillis Miller has described deconstruction this way: “Deconstruction is not a dismantling of the structure of a text, but a demonstration that it has already dismantled itself. Its apparently-solid ground is no rock, but thin air."[1]

Deconstruction was highly controversial both in academia, where it was accused of being nihilistic, parasitic, and just plain silly, and in the popular press, where it was often seized upon as a sign that academia had become completely out of touch with reality. Despite this controversy, it remains a major force in contemporary continental (European) philosophy and literary criticism and theory.[2]

 

[theDoors]

Is theDoors only good for 1 liners?
yes...

Why does theDoors like to post videos?
reading walls of text is boring...

What does theDoors hope to achieve?
pull a fast mindjob...

 

[theDoors]

High demand for new HDB flats

One category of flats attracted 14 times more applications than homes available. -ST
Harsha Jethnani

Tue, Jan 19, 2010
The Straits Times

BUYERS have rushed to the HDB's first build-to-order (BTO) projects launched this year, with one category of flats attracting 14 times more applications than homes available.

The intense interest in the developments at Choa Chu Kang and Hougang mirrors the flood of applications for two similar BTO projects at Dawson in Queenstown just before the new year.

The new estates - both in well-established areas - had attracted a total of 6,848 applications for 1,291 units ranging from studios to four-room units by 5pm yesterday.

Why the need to trumpet the high demand for HDB flats.
To imply that prices are reasonable and it is affordable.

But how else are Singaporeans going to settle down and start a family if they don't buy the only available quasi public/semi corporate housing. Newly weds have resign to their fate, they will pay the cost and get on with life no matter ridiculous the price is.

 

[theDoors]

The great public housing debate
http://www.asiaone.com/print/Business/My+Money/Property/Story/A1Story20091017-174232.html

We examine the six most hotly debated issues among house-hunters today. -ST

Mon, Oct 19, 2009
The Straits Times

By Tan Hui Yee, Correspondent

THE financial gloom has barely lifted, and economic uncertainties still cloud the horizon, and yet prices of resale HDB flats have hit an all-time high.

Home-seekers priced out of resale flats have jammed queues for new flats, prompting the Housing Board to ramp up its supply of new flats for the coming months.

National Development Minister Mah Bow Tan has assured the public that there are enough affordable flats for everyone, but stressed that home-seekers have to manage their expectations about getting a home in a prime location.

The voices of discontent, however, refuse to go away. Critics have accused the HDB of profiting from the sale of flats and blamed the growing number of permanent residents for pushing up home prices.

Just how valid are these views? Insight scrutinises the statistics and asks the experts to weigh in on six of the most common complaints.

A panel of experts is readily available to "correct" your perception of the "IRON truth" if some how you differ from what is the accepted mantra.

Many a times the "expert opinion" is from HDB, others experts are being sidelined, ridicule or ignore.

What else can HDB say?

HDB can't possibly say they are profiteering from the sales, that it's flats are overpriced and it will leave the buyers with nothing much to retire with.

HDB's current corporate agenda concern is to SELL flats. Gone are those days in the 70s where social implications are weighted and considered.

It's primary concern now is how to exhaust the Singaporean husband and wife's accumulated CPF savings over 30 years of employment.