HDB flats will never go to ZERO.

[nayr69sg]

Yes, u are right about that. I am not canadian. But based on what I have been told and what you have been saying about housing prices rising in Toronto and Vancouver, it seems to me that you have to get in the game any which way u can. If this thing called RRSP can help you do it, even if its $25K (can it be double that if you have a spouse?), then why the hell wouldn't you use it?

The RRSP is not a mandatory contribution scheme. Voluntary.

The main advantage of with RRSP is if you have extra cash you contribute to the RRSP (up to max determined by your income) that amount contributed in the tax year allows you to save on income tax. Eg say you earned 100k. And you contributed 10k then your taxable income that year is 90k. You saved on the tax eg say 25% of 10k. Ie $2500.

So your RRSP now has 10k in it. You invest it. Tax deferral. Later on when you withdraw from RRSP that withdrawal contributes to your taxable income in that tax year you withdrew it.

25k or even 50k is small amount these days. If in the first place people got 25k lying around to contribute to RRSP they might as well just use it as downpayment.

RRSP is best used when you are at the top income tax bracket. It is a tax deferral scheme where you defer income tax paid and invest that sum. Then later on pay youraelf from the RRSP smaller annual amounts so you incur less tax.

RRSPs and TFSAs are best suited for stocks.

I think those people who have to resort to borrowing from their RRSP to pay for downpayment of their principal residence (RRSP cannot be used for rental propeties) likely never plan what they want to do properly in the first place.

 

[nayr69sg]

One of the crowd I used to run with, the father is a somebody and well known in S'pore. He left for Toronto almost 20+ years ago. I think he said he bought his first house in missisauga for $200k or something like that. Its close to $2 million today

Thats 10x increase! Not triple lah.

Yeah the prices have really jumped a lot.

Kind of similar to sg property too if you bought in late 1980s. 10x today

But late 1980s I not even old enough to drive. Lol.

 

[nayr69sg]

U really need to come back to singapore, u are talking shit about matters u don't know. U think banks are so stupid? They will not amortize the housing loan for a longer period then what is left on the lease. eg. if there is 20 years left on the lease, u think the bank will give u a 30 year housing loan? At the worse, the banks will match the amortization of the housing loan to the what's left on the 99 year lease. So that at the end of the lease, the housing loan is fully paid to the bank. SO, bank gets their interest and capital fully returned. The HDB will then take over the flat as per the lease agreement. They can tear the block down and redevelop. The only loser is the flat dweller who has nothing now.

It is a very bad deal for those families then.

You really dont think there will be any ripple effects at all?

Thousands of families who used to have an asset worth several hundred thousand now gone to $0? And not only that they have to find a new home. No ripple effect?

 

[SalahParking]

Condos are designed to last forever, However, the determinant of how long they can actually last is not based on the design. Things like quality of construction, construction method, and land factors all play a part in that. In NYC for example, condos build 50 -60 years are still good. They are anchored on bedrock which I think is granite. In singapore, u are on top of an extinct volcano, and with the hot and humid weather, and thinks like concrete rot and rebar rust etc, I don't expect them to last as long.

What fucking stupid shit. condos last forever. You have cock for brains.

 

[batman1]

It is a very bad deal for those families then.

You really dont think there will be any ripple effects at all?

Thousands of families who used to have an asset worth several hundred thousand now gone to $0? And not only that they have to find a new home. No ripple effect?

The party in power will have to think seriously of the ripple effect.

 

[kaninabuchaojibye]

hdb asset become zero
pte ppty asset got value and pass on next gen
poor families got poorer
rich families get richer
natural aristocracy
haaaa

 

[SalahParking]

The party in power will have to think seriously of the ripple effect.

This idea of HDB going to zero after 99 yr was perpetuated by those property developers, property agents, property analysts, bankers, over the decades. The garmen kept quiet as the elites were milking the private property boom. I was shocked my cousins GCB can go up to $75 mil.

 

[nayr69sg]

This idea of HDB going to zero after 99 yr was perpetuated by those property developers, property agents, property analysts, bankers, over the decades. The garmen kept quiet as the elites were milking the private property boom. I was shocked my cousins GCB can go up to $75 mil.

In many cases people who owned landed property saw increases in their property values earning so much money that they acknowledged is more than they would ever earn in a lifetime.

 

[nayr69sg]

hdb asset become zero
pte ppty asset got value and pass on next gen
poor families got poorer
rich families get richer
natural aristocracy
haaaa

This one not just poorer

But from being "homeowner" able to rent out flat or rooms in flat become truly homeless!

Many ripple effects. Some will benefit. Rental market will shoot up for sure. Likely propert market will go up with increased demand and reduction in supply.

 

[SalahParking]

This one not just poorer

But from being "homeowner" able to rent out flat or rooms in flat become truly homeless!

Many ripple effects. Some will benefit. Rental market will shoot up for sure. Likely propert market will go up with increased demand and reduction in supply.

There will never be homeless after 99 yrs . Scare tactics by developers to move their projects, construction towkays also in on the scam. In china, no such thing as freehold. max 70 years lease, many due in 9 years time. Most if not all will rollover into new lease. Imagine riots of 1.2 billion happening. not gonna happen.

 

[nayr69sg]

There will never be homeless after 99 yrs . Scare tactics by developers to move their projects, construction towkays also in on the scam. In china, no such thing as freehold. max 70 years lease, many due in 9 years time. Most if not all will rollover into new lease. Imagine riots of 1.2 billion happening. not gonna happen.

If really 99 years becomes perpetual rollover into new 99 year leases it is same as freehold.

So then either HDB maintains cheap price of freehold flats this might cause a bit of drop with private condo pricing in the short term.

Or HDB could say they have to increase the price slighlty because of this "change" or revelation.

The more likely thing to happen is a bit of both.

 

[nayr69sg]

I have written this before way back in Delphiforum days back in 2004.

What I foresee to be the most likely scenario is that the PAP will use this 99 year issue as an election carrot stick.

Basically vote for PAP, and your block goes SERS. Vote opposition and no SERS. Or they will spin some "upgrading" scheme for their loyal voters.

So places like Hougang........if they continue to vote WP all the way until past the 99 year lease their flats will all be $0.

 

[eatshitndie]

This idea of HDB going to zero after 99 yr was perpetuated by those property developers, property agents, property analysts, bankers, over the decades. The garmen kept quiet as the elites were milking the private property boom. I was shocked my cousins GCB can go up to $75 mil.

that’s how the fellali lau kway bu becums 10 times wealthier. from $5m to $47m, and she pockets the difference with zero capital gains tax.

 

[nayr69sg]

that’s how the fellali lau kway bu becums 10 times wealthier. from $5m to $47m, and she pockets the difference with zero capital gains tax.

Actually in the case of Singapore, what did many of these people who made money in property really do?

Yes they took the risk and bought property. They had the financial clout to do the deal. Banks would loan them money.

But the property price appreciation.........that's all the government's doing. Manipulating HDB prices. Controlling sales of land and controlling price.

Many of these enbloc stories is just luck. I had a friend bought his condo after getting married. Few months later went enbloc. He was actually disappointed. But he took the money of course.

 

[Papsmearer]

If really 99 years becomes perpetual rollover into new 99 year leases it is same as freehold.

So then either HDB maintains cheap price of freehold flats this might cause a bit of drop with private condo pricing in the short term.

Or HDB could say they have to increase the price slighlty because of this "change" or revelation.

The more likely thing to happen is a bit of both.

don't listen to that salahparking stupid cunt. Its really pathetic u can't tell shit from fact. HDB flats will never roll over after their 99 years is up. Why? They can't last 99 years. They will be structurally defective long before then. To roll over after 99 years means the flats can last 198 years or over 100 years. To me, that is a fantasy. Once the flats are structurally unsafe to live in, HDB will come along and take the block back. They will offer u a new flat at a "discount" and ask you to move there. Of course, u will have to take on a new mortgage for this new place, because they don't give u shit for free. Hence the cycle starts over again.

 

[Papsmearer]

What fucking stupid shit. condos last forever. You have cock for brains.

obviously u can't read u stupid cunt.

 

[Papsmearer]

Actually in the case of Singapore, what did many of these people who made money in property really do?

Yes they took the risk and bought property. They had the financial clout to do the deal. Banks would loan them money.

But the property price appreciation.........that's all the government's doing. Manipulating HDB prices. Controlling sales of land and controlling price.

Many of these enbloc stories is just luck. I had a friend bought his condo after getting married. Few months later went enbloc. He was actually disappointed. But he took the money of course.

Stop talking shit from canada. U don't know what u are saying about the property market in singapore, and the morons here are reading it. In the 70s and 80s, people buying landed property was normal. My father bought his first bungalow in Changi in the 70s for $90K, and did it on a civil servant salary.He bought his second landed property for $125K a few years, still in the 1970s. And so on and so on. Simi Lancheow financial clout u talking about. Of course, later on when he really had financial clout, u don't just buy one property here and there anymore. I know one family that own over 100 landed properties, almost all bungalows and in mostly in prime districts. There was no risk to it. U can always rent it out. Expats like to live on landed on properties in those days with their family and their company foot the bill. Buying condos and speculating on en bloc is riskier as far as I can see. Even buying HDB flat is riskier.

 

[SalahParking]

don't listen to that salahparking stupid cunt. Its really pathetic u can't tell shit from fact. HDB flats will never roll over after their 99 years is up. Why? They can't last 99 years. They will be structurally defective long before then. To roll over after 99 years means the flats can last 198 years or over 100 years. To me, that is a fantasy. Once the flats are structurally unsafe to live in, HDB will come along and take the block back. They will offer u a new flat at a "discount" and ask you to move there. Of course, u will have to take on a new mortgage for this new place, because they don't give u shit for free. Hence the cycle starts over again.

You just choked sucking your own indian cock. Now you say that there is value near expiry and HDB will offer a new flat to move to physically. The status as a HDB owner rolled over to new flat probably for another 99 years. That is compensation. Fuck off lah you amateur.

 

[Papsmearer]

You just choked sucking your own indian cock. Now you say that there is value near expiry and HDB will offer a new flat to move to physically. The status as a HDB owner rolled over to new flat probably for another 99 years. That is compensation. Fuck off lah you amateur.

why are you such a stupid cunt? Such a basic think also u don't know? There is no such thing as a HDB owner, u miserable fucking retard. U cannot own a HDB flat. U are only a tenant. when u use the term HDB owner, i know confirm u are a mental retarded cunt.