Ghost Writer: Anger at rising HDB prices misdirected

[makapaaa]

http://www.h88.com.sg/article/Anger+at+rising+HDB+prices+misdirected/

Anger at rising HDB prices misdirected

I have been monitoring the chatter on popular local forums lately, and of late, is the hot topic of rapidly increasing HDB prices. While some of the voices have legitimate issues, some are just blindly joining in the fray.


Let me explain:

• <LI hasbox="2">For those that are complaining about high Cash-Over-Valuation prices, it is either time to start saving or settle for a low floor unit.
  
  <LI hasbox="2">For those that want to stay in mature estates and yet want low prices, they need a reality check.
  
  <LI hasbox="2">For those that insist on staying near parents in mature estates, they can't complain of high prices in older estates.
  
  <LI hasbox="2">For those who insist on having a home before starting a family, it is a matter of choice.
  
• For those that complain about why your parent's flat cost $75,000 and yours cost $350,000, you need a time machine.

No, I am not a "HDB ghost writer". In fact, I've personally faced some of the issues above. No doubt I am unhappy about many things, but I came to realize the root cause of my problems is the failure to plan early and lack of success at 'bringing home more bread'.

But if there is an issue at hand that really needs to be addressed, a sudden massive influx of new residents is the one to look at. Especially if the report that "40% of recent HDB buyers are actually Permanent Residents" is accurate.

It is understandable that we should not let an extraordinary opportunity to rejuvenate our population and competitiveness pass by, but to not have foreseen and prepared for side effects - such as increased demand leading to an unhealthy sudden price upswing; was a big blunder, with punishment handed out to citizens.

It is hard to pin all the blame on a single organization like HDB, which is responsible for providing affordable quality homes to citizens. Perhaps, it is a simple case of multiple organizations not talking to each other - with one turning on the tap and the other shutting the drainage leading to a flood. However glazing over this issue and acting like it isn't happening is also not the right way forward.

Knee-jerk measures - such as making available thousands of new Build-To-Order flats and introducing anti-speculative measures in a bottom-up property rally should not have been the only "visible" solution. Perhaps managing policy could help - a reader of H88.com.sg, has candidly suggested on Facebook: "PR = Please Rent"

To the angry ones: Anger about the issue of rapidly increasing HDB prices is growing, but I feel it is misdirected. Banging on the wrong doors will only give you the wrong answers.

To the ones that can provide a solution: Come clean and solve this problem, or this issue will fester.

Caveat: The writer contributing his two cents worth is neither an economist, nor a partisan "Ghost Writer".

This article was contributed by one of our fans who prefer to stay anonymous. We appreciate your thoughts here.

Tags: HDB, GOVERNMENT, COV, RENT, EXPENSIVE, PR, IMMIGRATION, INFLUX, CITIZENS

 

[Internet Brigade]

Well articulated piece. Indeed, we all need a good reality check.

Spend within your means, and stop whining about what you dont have.

Rising prices are bad for buyers but good for sellers. Low prices are good for buyers but bad for sellers. and if prices keeping dropping, it will be bad for the buyers in the long rerun who after buying becone sellers.

So suck it up!

 

[po2wq]

typical arm-chair holier-than-thou critic ...

tellin ppl dey r wrong ... but cant even pinpoint ze root of ze prob ... much less offer a soln ...

 

[konglanjiaowei]

Konglanjiaowei!

Lower prices seller complain, prices high buyer complain. Who causes and allow this to happen in the first place?

 

[Watchman]

Let us not spend on any other thing but apartments and cars .

Let there be no other sector of growth except suffocation .

Let us push the price over to the limits .