Leong Sze Hian so blur about HDB prices, why do papers entertain his warped logic

[besotted]

Leong Sze Hian keeps writing to the press about high HDB prices as if this trend is bad

I wonder why the press is so idiotic to print his useless letters that have no logic - perhaps thats why they are ranked 144th

If you own HDB property like 80% of the population, of course you want your investment to increase in value

if you are old and bought the flat a long time ago, you have a lot of equity in the flat that can be monetised either when you downgrade or you can even rent out a few rooms

The only people who are hit by high property prices are youngsters who are about to get married

Most of Singapore's youngsters are soft. If prices are too low, they pay off the flat quickly and get lazy. Hence in order to keep them economically productive, HDB flats must be priced so that they have to work for next 30 to 35 years to pay off the mortgage

For the older people, high HDB prices are great

 

[Leongsam]

Rising HDB prices do nothing for the owner occupier who does not have the option of cashing out. Where would they stay if they sold the only roof over their heads? Sleeping on the streets with a hundred thousand in the bank is not everyone's idea of a Swiss standard of living.

However, emigrants who can take profit and get the hell out of sinkiepoor will be delighted.

 

[eatshitndie]

Rising HDB prices do nothing for the owner occupier who does not have the option of cashing out. Where would they stay if they sold the only roof over their heads? Sleeping on the streets with a hundred thousand in the bank is not everyone's idea of a Swiss standard of living.

However, emigrants who can take profit and get the hell out of sinkiepoor will be delighted.

if sinkies are gutsy and smart, they should take advantage of the following immediately:

1. find another country which they wish to emigrate to and can obtain pr.
2. cash out on their over-valued hdb hellholes.
3. obtain naturalization, renounce sg citizenship and cash out on their cpf if much of their hdb equity is tied to cpf. (optional)
4. invest the money wisely on other opportunities for better returns.
5. return to sg occasionally or regularly for the cheap food and entertainment with extra wealth on hand and live like a true 'foreign talent'.

in other words, make your own destiny by seizing the opportunities presented, rather than be led by one's own inaction.

 

[kiwibird7]

The rising value of HDB flats is nothing more than a BUBBLE or MIRAGE. Sam is 100% correct that only S'pore emigrants are the only ones who would reap the profits when they cash out. Stayers won't benefit 1 iota at all.

What is the real value of a HDB flat? All the bricks and cement and cheap FT labour used isn't worth that much-hundreds of thousands $. There is NO LAND VALUE as HDB flats occupy a space in the sky. If the entire HDB block were to collapse or burn down(gas explosions affecting structural integrity), how much $$ would your so called HDB 'title deeds' be worth then. At least for landed properties, there is the tangible land that is physically present that had real value.

The HDB property and rental bubble will burst suddenly with a vengeance should the FT all suddenly go home and a sub-prime like crisis would occur with many jumping off HDB blocks or landing on MRT tracks.

Benefitting in terms of getting some CASH by downgrading is a myth. Moving from an executive apartment to a 3 room HDB is lowering one's standard of living. For the 'STAYERS', the so called extra cash would depreciate in value very quickly given S'pore's high cost of living, very low interest rates for term deposits which are below the rate of inflation etc. Only S'pore emigrants who cash out with the sale of their executive HDB apartments can truly upgrade to a 3 or 4 bedroom Landed property-'bungalow' in foreign lands like NZ.

Those baby boomer generation living now in executive flats, 5 room HDB etc hoping to downgrade in future to 3 room HDB flats to get a cash windfall are in for the shock of their lives. If the huge baby boomer generation all downgrade and young couples also go into the market for their first 3 room HDB flat at the same time. Won't the price of 3 room HDB flats escalate upwards while executive flats/5 room HDB prices crash as their supply(Sale) exceeds DEMAND(buyers)? Where would the CASH profit come about? And for those HDB AH Peks and Ah Sohs, the backbone supporters of the PAP living currently in lowest and smallest category of HDB flats, can they downgrade any further should they suddenly need the CASH to survive?

The problem is SINGAPOREANS always fail to think DEEPLY and believe every yarn the govt tells them. Hook, Line and Sinker! Because the REALITY is VERY SCARY! Think about it.

 

[xebay11]

Sam, everyone knows that the gains can only be gotten when HDB owners cash out and emigrate, problem is where to find a country like SG so willing to take in foreigners so easily with open arms?

 

[Boliao]

Leong Sze Hian keeps writing to the press about high HDB prices as if this trend is bad

I wonder why the press is so idiotic to print his useless letters that have no logic - perhaps thats why they are ranked 144th

If you own HDB property like 80% of the population, of course you want your investment to increase in value

if you are old and bought the flat a long time ago, you have a lot of equity in the flat that can be monetised either when you downgrade or you can even rent out a few rooms

The only people who are hit by high property prices are youngsters who are about to get married

Most of Singapore's youngsters are soft. If prices are too low, they pay off the flat quickly and get lazy. Hence in order to keep them economically productive, HDB flats must be priced so that they have to work for next 30 to 35 years to pay off the mortgage

For the older people, high HDB prices are great

Shhh!! You've just showed the world how stupid you are. Remember the rule, nobody will know you are stupid until you open your mouth.

 

[cooleo]

if you are old and bought the flat a long time ago, you have a lot of equity in the flat that can be monetised either when you downgrade or you can even rent out a few rooms

The only people who are hit by high property prices are youngsters who are about to get married

When u sell, u still need a place to stay right? Then when u buy, u mean prices will automatically drop for u?

Unless u intend to buy for investment and stay with parents, then makes sense. Otherwise sell at high prices, buy also at high prices.

 

[myfoot123]

Rising HDB prices do nothing for the owner occupier who does not have the option of cashing out. Where would they stay if they sold the only roof over their heads? Sleeping on the streets with a hundred thousand in the bank is not everyone's idea of a Swiss standard of living.

However, emigrants who can take profit and get the hell out of sinkiepoor will be delighted.

That is the main reason we complained about PR having more priviledges than Singaporeans. PR can cash out their HDB flat and profit from selling it to Singaporeans, withdraw their CPF and than retired gracefully in their homeland with more than 2 cheap landed properties and enjoy a lifetime of passive income thru rental. As for Singaporeans, we do not have such priviledge of being rich thru selling and withdrawing our assets like the PR.

This is never fair to many Singaporeans unless PAP is voted out!

 

[cooleo]

trouble comes when HDB prices are far far apart from wages...

then your children will suffer..

Looks like i have to repeat myself again...

In Sinkapore, U DIE YOUR BIZ, GAHMEN LIFE GOES ON!