$8 Msian Cow to Grads: Cannot Afford 5-Room HDB Flat is OK!

[makapaaa]

[h=2]Khaw Boon Wan warns Singaporeans: Be realistic about your financial means[/h]Posted by temasektimes on August 5, 2012


With life getting tougher for ordinary Singaporeans, National Development Minister Khaw Boon Wan has reminded Singaporeans again to be “prudent”, given the current economic uncertainties ahead.

Speaking at a National Day Observance Ceremony in Sembawang GRC on Sunday morning, Mr Khaw used the example of home purchases to advise Singaporeans to buy within their means.

“There’re now some gimmicks coming along, some banks offering 50 years’ (loan) so please don’t fall for that. It doesn’t make sense,” he said.

The prices of HDB flats have sky-rocketed in recent years, causing some banks to extend the loan tenure to enable first-time buyers to afford to buy them.

However, Mr Khaw wasn’t impressed and warned young Singaporeans to be realistic:

“If you want to immediately come out from school and get a five-room flat and think that a 50-year loan will help you achieve that, I don’t think that is very wise,” he added.

 

[besotted]

Yes, he is right. Youngsters these days want to live like kings but don't want to work.

The concept of hard work is alien to them, there is a strong sense of entitlement

They should wake up - at least the local grads, the Poly grads are relatively more down to earth

 

[chonburifc]

One hand want to stabilize HDB prices and make HDB affordable. Another hand very concern about young Sinkees stuck with a 50 year HDB loan wor?

Young sinkees, Song Boh? your ministar sipeh concern for you leh. What the FUCK? God also Cow, Ghost also Cow.

 

[chonburifc]

Yes, he is right. Youngsters these days want to live like kings but don't want to work.

The concept of hard work is alien to them, there is a strong sense of entitlement

They should wake up - at least the local grads, the Poly grads are relatively more down to earth

他妈的！你讲什么废话？HDB 价他妈的贵， 你叫youngsters 怎么down to earth??

 

[KopiO]

Yes, he is right. Youngsters these days want to live like kings but don't want to work.

The concept of hard work is alien to them, there is a strong sense of entitlement

They should wake up - at least the local grads, the Poly grads are relatively more down to earth

Totally agree with you. All they want is MORE pay AND less work.

5 room flat? Fresh grad? WTF!!!!

 

[Television]

Yes I agree, I have been observing this from my Generation(Gen Y), Many of my friends who are fresh out of Uni or have been only working for 1 or 2 years already ordering 5-room btos or currently living in 5 rooms and many of them are currently earning less then 3 k or have a combine salary with their Fiancee/wife of maybe 6k(No Child yet/child on the way).

Seems to me like many do not think about the duration of their debt or basically thinks that the market is going to keep going up and up and up.

 

[Scrooball (clone)]

“If you want to immediately come out from school and get a five-room flat and think that a 50-year loan will help you achieve that, I don’t think that is very wise,” he added.


For once, Malaysian Cow talking sense.

 

[Papsmearer]

Totally agree with you. All they want is MORE pay AND less work.

5 room flat? Fresh grad? WTF!!!!

Shut the fuck up, what do you know? What is the choice for a fresh grad if they don't buy? Rent? U know how high is rent now? The new grads are not stupid. What they have to pay in rent is almost the same as mortgage for a new flat. All these grads are also afraid that the price will keep going up. If they wait 5-10 years until they are established in their jobs, the prices for flats would probably be much more. Better try and buy now or face 6 figure price increase when they are ready. Dispite what Khaw has said, the prices have not come down at all. By the way, all these Poly and Uni grads did not get into their institution by having a sense of entitlement and lack of hard work. U dumb moron.