High price of flats, not affordability, is the issue

[makapaaa]

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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I REFER to last Thursday's reply by the Housing Board and Urban Redevelopment Authority (URA) on the affordability of flats, 'Income ceiling stays - buy resale if you can't afford private'.
In the 1970s, a typical three-room flat in Marine Parade, a choice location, cost about $9,500. Today, a typical flat can fetch as much as $300,000 in the new towns.
My view is that the URA did not release sufficient land to build HDB flats in a timely manner, causing pent-up demand and a sudden surge in prices.
The issue here is not whether Singaporeans can afford to buy flats, but why prices have escalated so astronomically.
James Tan

 

[scroobal]

Dear James

Elections serve the purpose of a signalling mechanism to the ruling and prospective governments on the needs of its constitutents. One primary reason for the loss of Anson at the by-elections was the mandatory take over of Low Hill Road and Blair Plain flats. People voted and things change.

Its in your hands. If the PAP has built a great country as they claim, an opposition gaining ground is not going to topple this country overnight as the PAP leds you to be believe.

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>High price of flats, not affordability, is the issue
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I REFER to last Thursday's reply by the Housing Board and Urban Redevelopment Authority (URA) on the affordability of flats, 'Income ceiling stays - buy resale if you can't afford private'.
In the 1970s, a typical three-room flat in Marine Parade, a choice location, cost about $9,500. Today, a typical flat can fetch as much as $300,000 in the new towns.
My view is that the URA did not release sufficient land to build HDB flats in a timely manner, causing pent-up demand and a sudden surge in prices.
The issue here is not whether Singaporeans can afford to buy flats, but why prices have escalated so astronomically.
James Tan

 

[lovesamleong]

My view is that the URA did not release sufficient land to build HDB flats in a timely manner, causing pent-up demand and a sudden surge in prices.

There may not be enough land to release in the first place.

The solution is to reduce Sporn population.

Our Pappie rulers think otherwise because they need the population to sustain a million dollar salary :(

 

[holyman]

one of the problems causing the high prices are the FTs...esp the china ones...they have apparently found a loophole...for example, a china man and a china girl are in a relationship (both studied at the tertiary level locally), they apply for citizenship, and once they get it, they will bring in their parents names to buy a HDB...imagine they buy 2 flats, stay in one room, and rent out the other 5 rooms, how much will they get in rental per month? they can still get bank loans and sell off the house in 2 years...

As you can see, they are not legally married in SG. So it becomes 2 houses for 2 individuals, and this is how the pigeon hole becomes expensive...we all have in mind who caused this problem...

 

[hockbeng]

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>High price of flats, not affordability, is the issue
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->I REFER to last Thursday's reply by the Housing Board and Urban Redevelopment Authority (URA) on the affordability of flats, 'Income ceiling stays - buy resale if you can't afford private'.
In the 1970s, a typical three-room flat in Marine Parade, a choice location, cost about $9,500. Today, a typical flat can fetch as much as $300,000 in the new towns.
My view is that the URA did not release sufficient land to build HDB flats in a timely manner, causing pent-up demand and a sudden surge in prices.
The issue here is not whether Singaporeans can afford to buy flats, but why prices have escalated so astronomically.
James Tan

Vote more opposition = lower hdb/ppty prices. Heed LKY's advice!