HDB High Prices & Influx of FT

[longbow]

That is why they need to inflate prices so that the old can do a reverse mortgage. If housing prices come down, reverse mortgage will bite doubly hard.

Their greatest fear is having to use $ from GIC/Temasek to help fund old aged poor. Hence the law for children to provide for the old, reverse mortgages, buying back of HDB leases.

 

[Goh Meng Seng]

the fact of the matter is that high property prices do not benefit everyone, just like high salaries means nothing if inflation is higher than high salaries.

anyway, I dun think selling HDB flats to PRs is a politically correct solution. It will create further uproar amongst the pple. Think HDB has to build more flats to meet demand and at the same time, maybe impose a moratorium on PRs buying flats unless they worked in Singapore for 3 years (for example). This should give HDB breathing space to build flats while deflating the bubble.

We really have to learn from PAP, no more "Highfalutin ideals", just money talk!

Asking HDB to sell new flats DIRECT to PRs at HIGH MARKET PRICE is not detrimental to Singaporeans at all. In fact, what I am suggesting is for HDB to earn profits from PRs and use this to subsidize Singaporeans. of course, HDB would have to increase its supply of new flats in the whole process.

Goh Meng Seng

 

[RK85]

GMS,

What about those who already bought at the current high prices?

If the gov. change the rules now & reduce the prices of new flats, the current owners will suddenly see a drop in their flats' value. Many ppl will not be happy. Those who want to sell & upgrade will end up paying more to the banks & HDB for their outstanding loans.

 

[Goh Meng Seng]

GMS,

What about those who already bought at the current high prices?

If the gov. change the rules now & reduce the prices of new flats, the current owners will suddenly see a drop in their flats' value. Many ppl will not be happy. Those who want to sell & upgrade will end up paying more to the banks & HDB for their outstanding loans.

There will indeed be short term pain resulting from such change in policy direction. This is to remind us that we should always keep PAP in check and not granting full monopoly of power else with such misguided and ill-conceived policies, every Singaporeans will suffer.

The most important thing we need to address and recognize is the RIGHT POLICY DIRECTION, not merely for our generation, but also for our children and future generations. If we continue to let PAP lead us through the nose by the present housing coupled with FT polices, we will face runaway inflation in housing. Your children may not be afford to buy their own houses while you couldn't let them inherit your house because you may end up in the reverse mortgage situation. Then where will we be?

I belong to a generation that have paid a heavy cost in housing due to PAP's mismanagement, its "assets enhancement scheme" has made everyone in my peer all poor, in fact, we are "negative asset holders" for many years. Yes, we should be happy that the recent property price hike could get us out of our negative asset situation but we got to think in longer term... what about our children? Our grandchildren? Besides, if we are to sell our flats, where could we possibly live in? Private property?

It is about time we as a people of this Nation take a longer term view of policy impact, instead of being manipulated by PAP's short term politically motivated policy decisions.

Goh Meng Seng

 

[shOUTloud]

GMS,

What about those who already bought at the current high prices?

If the gov. change the rules now & reduce the prices of new flats, the current owners will suddenly see a drop in their flats' value. Many ppl will not be happy. Those who want to sell & upgrade will end up paying more to the banks & HDB for their outstanding loans.

You have hitted upon the dilemma that was caused by the Goh Chok Tong's "good years" of asset inflation.

What is an ideal price for a HDB flat? Govt says leave to market forces but we know it is bullshit. The so-called market forces now is demand caused by an influx of PRs which is govt policy.

By reversing, they stand to cause who bought high to curse and swear but the fact of the matter is this.

According to HDB figures about a few thousand flats being transacted each year and up to 40% are PRs, there are still time to put a brake on it. Wait till a few more years passed and more pple got into this property trap, the govt will be in deep shit, much like the sub prime crisis in US where the pple cannot pay back their loans in the midst of negative equity.

 

[RK85]

I think it is not so easy to just change the rules now. I believe the gov. already knows the problem (although their press releases & HDB's replies seems to be in constant denial mode) but because of this dilemma, they can't as thousands will be affected & these will translate to unhappy votes.

 

[scroobal]

HDB will conitnue to be PAP's political instrument. When the first RCs began, no private estate wanted to form RC and they refused to meet up with PAp leaders who wanted to visit. This lasted nearly 15 years.

1) PAP offices
2) PAP kindergardens
3) Grassroot bases

This allows them to control 85% of the public.

Market price will never be allowed. If you control 85% of housing, its more or less a monopoly.

You have hitted upon the dilemma that was caused by the Goh Chok Tong's "good years" of asset inflation.

What is an ideal price for a HDB flat? Govt says leave to market forces but we know it is bullshit. The so-called market forces now is demand caused by an influx of PRs which is govt policy.

By reversing, they stand to cause who bought high to curse and swear but the fact of the matter is this.

According to HDB figures about a few thousand flats being transacted each year and up to 40% are PRs, there are still time to put a brake on it. Wait till a few more years passed and more pple got into this property trap, the govt will be in deep shit, much like the sub prime crisis in US where the pple cannot pay back their loans in the midst of negative equity.

 

[Goh Meng Seng]

I think it is not so easy to just change the rules now. I believe the gov. already knows the problem (although their press releases & HDB's replies seems to be in constant denial mode) but because of this dilemma, they can't as thousands will be affected & these will translate to unhappy votes.

This problem will snowball in time to come. They will only be delaying the impact of such ill-conceived policy from happening.

Frankly speaking, the so call "asset enhancement scheme" is just a "feel good" policy myth. Most Singaporeans who bought their HDB flats would hardly "benefit" anything in real terms even if the prices of the flats sky rocketed. Very few Singaporeans would sell their flats for speculative purpose. Neither would any Singaporeans cry if the price dropped unless they became the victims of HDB another ill-conceived policy of asking Singaporeans to get their HDB housing finance from the banks.

Of course, it may cost PAP some votes. But we must realize that if PAP continues to try to brush this problem aside just because they don't want to lose votes, Singaporeans would be the ones who will pay hefty price for such selfish political scheming.

Goh Meng Seng

 

[ChaoPappyPoodle]

We really have to learn from PAP, no more "Highfalutin ideals", just money talk!

Asking HDB to sell new flats DIRECT to PRs at HIGH MARKET PRICE is not detrimental to Singaporeans at all. In fact, what I am suggesting is for HDB to earn profits from PRs and use this to subsidize Singaporeans. of course, HDB would have to increase its supply of new flats in the whole process.

Goh Meng Seng

So you agree with their FT policies? THe FT polcies are wrong for many reasons and they encompass both short term and pong term problems for Singaporeans.

The high housing problem is a separate problem altogether although they are entwined they should not be looked at as though it is a single problem.

You are confused between cause and effect or failing to see the root of the problems at hand.

 

[ChaoPappyPoodle]

I think it is not so easy to just change the rules now. I believe the gov. already knows the problem (although their press releases & HDB's replies seems to be in constant denial mode) but because of this dilemma, they can't as thousands will be affected & these will translate to unhappy votes.

It is the government that created the problem. This is a fact. The only question is whether they did so and continue to do so deliberately. YOu only have to look at their actions collectively to know what type of a government the pappies are and you will have your answer. Or make it easier for you - do you think the pappies put the majority of Singaporeans first on their agenda?

 

[Goh Meng Seng]

So you agree with their FT policies? THe FT polcies are wrong for many reasons and they encompass both short term and pong term problems for Singaporeans.

The high housing problem is a separate problem altogether although they are entwined they should not be looked at as though it is a single problem.

You are confused between cause and effect or failing to see the root of the problems at hand.

There are always Pros and Cons in every policy, FT policy included.

While I do not agree with their liberal FT policy in which jobs are being substituted by cheaper foreigners, but I have to acknowledge that we will need foreign labor input in this economy. The question is how many of them do we need and what kinds of foreign labor do we want. This alone, will be a BIG DEBATE and I do not intend to go into this in this article. In fact, FT policy will involve our education policy as well and you are right, most of the policies are interwined.

Whether we have more or less FT, they will still affect the housing price one way or another. Thus, the structure of the policy must be set in the right direction to address the problems arise from the present setting.

Goh Meng Seng

 

[shOUTloud]

http://www.thepetitionsite.com/1/lo...-more-affordable-hdb-housing-for-singaporeans

Sorry for multiple postings. Please make reasonable comments in the petition. Do not use vulgar languages or expletives to dilute the effects of the petition.

 

[ChaoPappyPoodle]

There are always Pros and Cons in every policy, FT policy included.

While I do not agree with their liberal FT policy in which jobs are being substituted by cheaper foreigners, but I have to acknowledge that we will need foreign labor input in this economy. The question is how many of them do we need and what kinds of foreign labor do we want. This alone, will be a BIG DEBATE and I do not intend to go into this in this article. In fact, FT policy will involve our education policy as well and you are right, most of the policies are interwined.

Whether we have more or less FT, they will still affect the housing price one way or another. Thus, the structure of the policy must be set in the right direction to address the problems arise from the present setting.

Goh Meng Seng

The pappies' FT policy is bad, it cannot be said that it is good and bad because that is saying nothing of substance. If a polcy is bad for a lot of people not to mention the majority of Singaporeans then it is a bad policy regardless of the other good things that it may also embody.

It is a poor policy. It is as simple as that.

Everyone knows that FTs can be a positive boon. The questions are how many, in which sectors, for how long and how to stem the tide for those sectors that don't really need FTs in the long term. You are talking about a country here and not some small kampung. There are ample resources including time to educate and train both the current and future workforce.

The fact that we have reached this stage is already a clear indication of the pappies' poorly constructutred and administered policies hitherto.

Take notice all of you, the FTs will continue to come in droves. As soon as one leaves, there is another maybe more waiting to come in. YOu are all getting older by the day but the FTs are coming at a young age.

It is like playing footabakll against a team that has unlimited substitutions, ll fresh and hungry. Singaporeans are no match against any team given the lobsided game play that the pappies have created.





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[Goh Meng Seng]

Seriously speaking, blocking all FT is not in the interests of Singaporeans. Singaporeans should not be totally shielded from competition from Foreigners. Singaporeans would not be in tune on what capabilities and how other foreigners would compete in the world. This is after all, a globalized world.

Of course, the question still remains, how much competition and how many foreigners are desired? This is a debatable subject. My baseline is, no matter what, Singaporeans' rice bowls should not be adversely affected.

Goh Meng Seng

The pappies' FT policy is bad, it cannot be said that it is good and bad because that is saying nothing of substance. If a polcy is bad for a lot of people not to mention the majority of Singaporeans then it is a bad policy regardless of the other good things that it may also embody.

It is a poor policy. It is as simple as that.

Everyone knows that FTs can be a positive boon. The questions are how many, in which sectors, for how long and how to stem the tide for those sectors that don't really need FTs in the long term. You are talking about a country here and not some small kampung. There are ample resources including time to educate and train both the current and future workforce.

The fact that we have reached this stage is already a clear indication of the pappies' poorly constructutred and administered policies hitherto.

Take notice all of you, the FTs will continue to come in droves. As soon as one leaves, there is another maybe more waiting to come in. YOu are all getting older by the day but the FTs are coming at a young age.

It is like playing footabakll against a team that has unlimited substitutions, ll fresh and hungry. Singaporeans are no match against any team given the lobsided game play that the pappies have created.





.

 

[Goh Meng Seng]

I think it is not so easy to just change the rules now. I believe the gov. already knows the problem (although their press releases & HDB's replies seems to be in constant denial mode) but because of this dilemma, they can't as thousands will be affected & these will translate to unhappy votes.

If they don't change the rules now, millions will be affected..future generations of Singaporeans.

Goh Meng Seng

 

[makapaaa]

>>> Most Singaporeans who bought their HDB flats would hardly "benefit" anything in real terms even if the prices of the flats sky rocketed.<<

Unless u sell out and emigrate. Which of course they are more than happy since u can't vote against them either.

 

[makapaaa]

Don't be naive! If you ask around, many Sporns are deprived of opportunities to develop their skills in schools and workplaces cos of severe FTrashisation in the first place. Do Daiwan, HK and Japan need FTrashisation to be where they are now? FTrashisation pisses off the citizens while allowing FTrash to step on them for greener pasture. Long-term solution to a functional nation is always to rely on your own people!

Re: HDB High Prices & Influx of FT
<HR style="BACKGROUND-COLOR: #989898; COLOR: #989898" SIZE=1><!-- / icon and title --><!-- message -->Seriously speaking, blocking all FT is not in the interests of Singaporeans. Singaporeans should not be totally shielded from competition from Foreigners. Singaporeans would not be in tune on what capabilities and how other foreigners would compete in the world. This is after all, a globalized world.

Of course, the question still remains, how much competition and how many foreigners are desired? This is a debatable subject. My baseline is, no matter what, Singaporeans' rice bowls should not be adversely affected.

Goh Meng Seng

 

[vincenttan]

By the time Singapore have 6 million population, a normal 5 room HDB flat will cost $1 million. Demand will drive up the prices

 

[coolguy]

[/B]

By the time Singapore have 6 million population, a normal 5 room HDB flat will cost $1 million. Demand will drive up the prices

Well....in that case.
Huat AH!
Whahahahahaha
FT breed, sinkies bleed, pappies sucks

 

[londontrader]

If they don't change the rules now, millions will be affected..future generations of Singaporeans.

Goh Meng Seng

Mr Goh

Just a comment and a question:

1. The influx of foreigners only partially explains the high price of public housing. There was a large overhang of HDB flats (because of the govt's sloppy demand projections) that depressed prices for years. They have since worked through this glut of flats and the new direction is BTO = the setting for higher prices.

2. I have a suggestion that addresses this compulsive desire to link flats with resale prices. The HDB subsidy could be expressed as a fraction of the total price paid for housing eg. the govt pays 30%? Instead of the currect situation with a lump sum which doesn't keep pace with rapidly rising prices. The subsidy (fraction) can be adjusted/capped for flat type, whether new or resale etc.....

Any Comments?