Kelvin Seet's Letter on HDB prices

[silverfox@]

hdb flat also liability leh.. so my comparison is valid..

When people buy a HDB flat, they have a chance to sell higher
When people buy a car and sell it 2nd hand, there is no chance they can sell it higher because it depreciates the moment you buy it.

 

[silverfox@]

She has high hope. That is the problem with the young generation. They
want to be better than their parents. Because I stayed in a condo. Buying a 3 or 4 rooms isn't the problem. At least a condo HDB type. Thats where our Gahmen knows their weaknesses.

You should start telling her your story on how you progress from HDB.

Anyway, if she knows how to hop, from sales exec, can become regional sales consultant. Then the pay also will leapfrog. :p

 

[SIFU]

When people buy a HDB flat, they have a chance to sell higher
When people buy a car and sell it 2nd hand, there is no chance they can sell it higher because it depreciates the moment you buy it.

your reasoning here is kinda weak.. but i'll leave it at here..

 

[silverfox@]

your reasoning here is kinda week.. but i'll leave it at here..

that thai pimp face is at the ATM $750 thread :p

 

[SIFU]

that thai pimp face is at the ATM $750 thread :p

i know.. been fucking him there liao..

 

[oli9]

What happens next will be flat dwellers all start to cry why their homes got no price and no value and they are making losses. Already like what you all said its 99 year pigeon lease and yet now its losing more money.

Bro
A HDB is for living purposes, not for speculation. They make losses if they sell. If they dont its just paper losses.
If the prices are more reflective of the construction costs, anything upwards is already a profit. The problem here lies with HDB appointed valuers who give "HIGH VALUATION" over nothing. has anyone heard of any valuers that gives a lower valuation than the purchase price yet? NOPE.

 

[0939]

That is another problem. Valuers have guidelines to follow. As HDB prices increased
slowly so will be the resale flats. As long as there is supply and demand. The only different
will be cash over valuation. This component is the yardstick for the increase value of the resale and new flats.

 

[silverfox@]

Bro
A HDB is for living purposes, not for speculation. They make losses if they sell. If they dont its just paper losses.
If the prices are more reflective of the construction costs, anything upwards is already a profit. The problem here lies with HDB appointed valuers who give "HIGH VALUATION" over nothing. has anyone heard of any valuers that gives a lower valuation than the purchase price yet? NOPE.

Last time before HDB "regulated" these valuers, those valuers pump up valuation prices even more to con money out from CPF.

Actually i heard from one of my relative, they requested for higher valuation when valuer came over, but valuer said they cannot do this. Even the agent said so. If valuation too high, might involved investigation from authorities.

As for your last sentence, valuers that give a lower valuation than the purchase price, I don't quite get this sentence. What do you mean?
Do you mean lower valuation than previous transacted prices? If it is, valuation also depends on the type of reno and condition of the house is in.

 

[2lanu]

This HDB inflation scheme is like what the Ponzi system by ex-Nasdaq chief. But take a longer time to burst.

Earlier in the 60s, things was easier when salary kept pace with housing price. But now housing prices is artifically ran up by the invisible hand. And when the housing prices is not affordable, all will crashed!

Another scenario will be since local cannot afford the house, white scums invite foreigners into here to buy. And led to another more social issues again...

 

[silverfox@]

***********************


As a 60-year old educated Senior Citizen, I surf the Internet regularly to gauge the true concerns of young Singaporeans, who are mostly hesitant to speak up openly.

__________________
www.kelvinseet.com

kelvinseet.blogspot.com

Actually, I find it very amusing, why does Kelvin Seet want to emphasis on him being a 60 year old EDUCATED senior citizen before making his statement? Does it matter to others when they read his letter on whether he is 25, 35, 40, 60 or even if he is educated or non-educated?

 

[jesus]

The HDB has went down on this slippery road because of GREED ! There is no way of turning back now.

It can be turned back. All the profits ultimately flows into the reserves. The flow can be reversed.

The question is are the reserves still there? And the refusal of the PAP govt to drop the 'asset enhancement' scam.

 

[sleaguepunter]

Thats her first job for the past six months right after her poly. She is only 20

huh? fresh poly grad can get $3k sale exc job?? wow, what she sell?? I tot poly fresh grad get ard less than $2k only??? Times must be good...

 

[chupacabra]

Pappies have fucked sinkeetown once again. Although this issue is not new, we are or rather the world is begining to see through pappies bullshit on HDB prices.

The world wide recession is a blessing in disguise. While mansions in USA are worth 500k now compared to 1m a year ago( as reported on msn), pappies and the retards at HDB still selling exec flat for more than 500k???

Who are they trying to fool? With this obvious lie, how many quality emigrants are willing to fork out this much money for the so called "public housing".

With the glut in private properties, no one in their right ming gonna buy one now also.

With very little job prospect for retrenched FTs in peesai in the coming months, a lot of HDB flats will be offloaded by these FTs as they move on and cash out.

 

[oli9]

As for your last sentence, valuers that give a lower valuation than the purchase price, I don't quite get this sentence. What do you mean?
Do you mean lower valuation than previous transacted prices? If it is, valuation also depends on the type of reno and condition of the house is in.

Example - Purchase price 5room in Punggol (2000) is $230K. In 2008, valuation of the same flat in Punggol is $350K. let's say, Spore has given the economic outlook going forward as bleak & expecting contraction, shouldnt the "going forward" valuation be lower than the current prices. I know its willing buyer, willing seller, but there's no mechanism to keep a reality check on HDB appointed valuers. here lies the problem - Will valuers lower the valuation of HDB, knowing that the world (Sinkypore included) is going into a Depression?
Theyre telling us , "no worries, your Punggol HDB price will be $350K now & even higher regardless of the economic gloom ahead"
Im talking about only the Valuation portion, COV is another story.

 

[2lanu]

Pappies have fucked sinkeetown once again. Although this issue is not new, we are or rather the world is begining to see through pappies bullshit on HDB prices.

Never say never in this case. The white scum will introduce some features to peg to these flats and justify its prices. The advantage the white scum had is the had the monopoly of the land here. To release or not, it's up to them.

The world wide recession is a blessing in disguise. While mansions in USA are worth 500k now compared to 1m a year ago( as reported on msn), pappies and the retards at HDB still selling exec flat for more than 500k???

Who are they trying to fool? With this obvious lie, how many quality emigrants are willing to fork out this much money for the so called "public housing".

With the glut in private properties, no one in their right ming gonna buy one now also.

You see it not long ago. Just in 2004-05, there are many ppl wanting to sell the house after kanna hooked for so long. But the fact is the system make it hard for them to.

In short, the white scum system is suck more $$$, whatever problems faced the peasants is not their problem.

With very little job prospect for retrenched FTs in peesai in the coming months, a lot of HDB flats will be offloaded by these FTs as they move on and cash out.

I think some private tier condo owners will let go their condo and live there. So the price will remain.

 

[chupacabra]

All I can say is that every fucked up pappy policy is gonna screw sinkees in the long run.

Do you know now it takes 3 weeks to make an appointment with an immigration agent?

Peesai is fuck man. Sinkees with degrees are leaving, sinkees with money are leaving, sinkees with children overseas are leaving to join them and now even FTs are leaving.

All those who are left behind are penniless sinkee and FT cleaners.

 

[0939]

huh? fresh poly grad can get $3k sale exc job?? wow, what she sell?? I tot poly fresh grad get ard less than $2k only??? Times must be good...

She is selling some sort of advertisements, basic $1800 with commissions of averaging a $1000 over, not inclusive of perks and allowances.

 

[chupacabra]

This HDB inflation scheme is like what the Ponzi system by ex-Nasdaq chief. But take a longer time to burst.



Another scenario will be since local cannot afford the house, white scums invite foreigners into here to buy. And led to another more social issues again...

Brother not so easy now to create jobs that could buy you sinkee pigeon hole.

My previous boss from Edinburgh Scotland was shock to find out about HDB prices when he came in 07.

He got his pr within 6 months here with his family. He said to me London was costly but peesai was not that far off.

He and his family have since moved back. He lost about 300k in peesai on basically two things, apartment rents and business rents .

Wages was not much of an issue to him as he knows good staffs are hard to find.

I do not see much hiring for the white collar sector for the next three years.

 

[0939]

Actually, I find it very amusing, why does Kelvin Seet want to emphasis on him being a 60 year old EDUCATED senior citizen before making his statement? Does it matter to others when they read his letter on whether he is 25, 35, 40, 60 or even if he is educated or non-educated?

Probably he had seen life and well aware of whats happening during his younger days until now. He is couple of years older than me, just like me, maybe we shared the same predicament.

 

[jw5]

Actually, I find it very amusing, why does Kelvin Seet want to emphasis on him being a 60 year old EDUCATED senior citizen before making his statement? Does it matter to others when they read his letter on whether he is 25, 35, 40, 60 or even if he is educated or non-educated?

It matters if he wants to buy a financial product from a financial institution.