HDB's Flawed Policy Direction

[poore]

while i agreed the flats value will go up in time, its going up too much!

now the govt stuck in a bobian situation, cannt allow the flat to crash in value(sia suay for them) so lanlan control the supply

i believe they can easily supply more,instead of 14 storeys,make them 20..

 

[Zombie]

many times the best intention is fraud with oversimplification. read up on "public housing" in america, and with good intention of catering to the underprivileged and poor, a new segmentation emerged, or perhaps, it's more like 'ghettofication'. learn lessons from others before changing the dynamic in sg that has worked for the majority of the sinkie population. the important word is "majority".

the reason why i said: build slum districts ie far from the rest..

 

[Zombie]

The ultimate question is, do you want to keep going on like this?

You don't prevent the "mistake" from continuing, by offering another "bigger mistake".

You don't correct a long term problem, by offering an instant noodle style short term crash (corrective) action.

You have not won the heart of the majority, you don't tell them to take chance with their monies.

Life is that simple.. dude

Be focus. Your issue is long-term affordability.

Longbow suggested "stabilising prices plus improving incomes", is a long-term workable solution.

Many other people also suggested something similar, with the effect of matching demand and supply.

If you stick to your plan, then do it in stages over many many years, so as to let the market absorbs the impact gradually.

 

[Goh Meng Seng]

Zombie,

I think you still cannot grasp the issue well.

Whether we implement my plan now or not, the future resale market will plunge. The reasoning is very simple

1) If we go by MBT's idea that older Singaporeans can sell off their flats or downgrade to monetize their flat for retirement financing, there will be MORE people selling than people buying. This is so due to the aging population; more elderly people than younger couples. Simple Economics of supply and demand.

2) With a lesser lease of 50 or 70 years (depending when you sell), the value of your flats will plunge. Who says property prices will always go up? This is a 99 lease HDB flat!

3) So what if the resale market price is so high now? Can you sell it now and live somewhere else? Nope.

4) Ultimately, I have explained so clearly, those who are restricted to buy resale HDB will not be able to switch to buying new flats from HDB. The impact of this plan is very limited to the resale market.

5) PAP has been stressing that don't put all the eggs in one basket. If you are going to use ALL your CPF (ordinary account) to "invest" in a 99 year lease hold HDB and hope that it could sell at higher price later to finance your retirement, you are betting on the risky thing.

6) First you must make sure that you will always have the same job with same or better pay for the whole 30 years.

7) Secondly, you must make sure there is enough PRs in future to buy your 70 or 50 lease HDB.

8) The more prudent strategy is to keep certain portion of your CPF as savings for retirement.

9) This can only be done by reducing the price of HDB flats.

10) For those who have bought at high price, blame PAP. But we cannot let this thing go on for our children.

Thus, the implementation of the sales at cost price is the best bet you can have for retirement financing for your future generations. You and me are screwed, so to speak.

Goh Meng Seng

You don't prevent the "mistake" from continuing, by offering another "bigger mistake".

You don't correct a long term problem, by offering an instant noodle style short term crash (corrective) action.

You have not won the heart of the majority, you don't tell them to take chance with their monies.

Life is that simple.. dude

Be focus. Your issue is long-term affordability.

Longbow suggested "stabilising prices plus improving incomes", is a long-term workable solution.

Many other people also suggested something similar, with the effect of matching demand and supply.

If you stick to your plan, then do it in stages over many many years, so as to let the market absorbs the impact gradually.

 

[poore]

hi gms, got a question, hope u can advise......

lets say i stay in this flat till the 99 yr lease is up,will there still be any value in the flat?

 

[aurvandil]

hi gms, got a question, hope u can advise......

lets say i stay in this flat till the 99 yr lease is up,will there still be any value in the flat?

That's what smart pple are doing to call the Govt's bluff on 99 year leases. Politically it will be suicide to evict those who stay till lease is up and can not afford to get a new flat. Hence long b/f you get to 99 years, they will most likely SERS your unit. The terms when they SERS your flat are usually more attractive than getting a fresh BTO.

Hence if you are young couple, this is the optimum solution

1) Wait for the market correction to come (definitely within the next 2 to 3years - same time as getting a new BTO flat !)

2) When the market has corrected to a level you are comfortable with, buy a very old resale HDB unit.

3) Move in, do a modest renovation and enjoy the benefits of living in a mature estate.

4) Wait patiently for SERS and get a brand new unit (with fresh 99 yr lease) in the mature estate of your choice.

Given what Mr Mah wants to charge you now, only really stupid people will join Mr Mah's BTO queue now.

 

[Zombie]

I think you still cannot grasp the issue well.
Whether we implement my plan now or not, the future resale market will plunge. The reasoning is very simple..........

no point regurgitate those points over and over again...
almost anyone who had been here long enough, can list them down effortlessly...
if you want tampines, go win the heart of the majority...
i can only sincerely wish you luck