HDB uses mystery benchmark to define affordability of HDB flats

[temasekreview]

The Housing and Development Board has written an official letter to the Straits Times Forum in response to a deluge of letters sent by Singaporeans questioning the affordability of HDB flats. Its reply differ little from earlier ones.

HDB’s deputy director Mr Ignatius Lourdesamy wrote that HDB flats remain affordable to eligible first-time households as they use between 21 to 25 per cent of their monthly income to service their loans on new and resale HDB flats which are well below the international affordability benchmark of 30 per cent. However, he failed to provide the source of the benchmark and neither is it known if the benchmark refers to private or public housing.

Read rest of article here:

http://temasekreview.com/?p=12673

 

[ChaoPappyPoodle]

30% for a 10, 15, 20 or 25-year mortgage?

30% for public housing or private development?

Which countries were used in the benchmark?

What criteria were used for teh benchmarks?

What type of homes?

Who developed the benchmark?

These people should not be allowed to walk away after giving less-than-warranted answers. Continue to probe until they either give up or until they continue to dig their own grave.

 

[scroobal]

You are really one blur sotong. 30% of income is indeed the industry norm for mortages around the world. Your question is analogus to asking why the Fire Engines use water and the source of the bench for using water to fight fire.

Why don't you write about the real issues with HDB like false subsidies, abuses and mismanagement of the HDB, shoddy workmanship, overpricing, housing for non-citizens. Flats given to PAP sponsored grassroots organisations.

The Housing and Development Board has written an official letter to the Straits Times Forum in response to a deluge of letters sent by Singaporeans questioning the affordability of HDB flats. Its reply differ little from earlier ones.

HDB’s deputy director Mr Ignatius Lourdesamy wrote that HDB flats remain affordable to eligible first-time households as they use between 21 to 25 per cent of their monthly income to service their loans on new and resale HDB flats which are well below the international affordability benchmark of 30 per cent. However, he failed to provide the source of the benchmark and neither is it known if the benchmark refers to private or public housing.

Read rest of article here:

http://temasekreview.com/?p=12673

 

[johnny333]

Japan's old leadership LDP were kicked out by a landslide loss

Many Japanese were unhappy with the way things were going: unemployment, poor economy,... or maybe change for the sake of change

PAP has been comming out with alot of lame reasons & excuses for its policies.
We will see whether Sporeans have accepted these "excuses" in the next elections. They will of course do alot of 'fixing' & Sporeans will probably be denied the oppurtunity to show how they really feel

 

[Watchman]

I like the word " mysterious benchmark "