Leong Sze Hian wacks HDB hard at Hong Lim Park !!

[Avantas]

Watch Mr Leong Sze Hian's speech in 2 parts here:

http://singaporeenquirer.sg/?p=370

Excerpts from Mr Leong Sze Hian’s speech:

“Last month in Parliament, a question was asked ‘how many HDB flat holders cannot pay their housing loan ?’. The answer - 33,000, 8% of HDB concessionary loans are in arrears for more than 3 months.”

“At the height of the subprime crisis in U.S., according to a local newspaper, the deliquency rate over 90 days was only 5% and here in Singapore, for HDB loans, we have 8%. So is the subprime problem more serious here in Singapore than over in the U.S. ?”

“The HDB used to publish every year a statistic called ‘Financial assistance to HDB flat dwellers’. For this year and last year in the annual report, this statistic has disappeared !”

“Every time a question is asked in Parliament - “Are HDB flats still affordable ?”. The answer is always ‘yes’. Why ? Because the average Singaporean household pay not more than 25% of their annual income for the HDB flat, therefore it is affordable. This to me is like telling you the obvious. If you cannot afford the HDB flat, will you buy it or not ?”

 

[zhihau]

“Every time a question is asked in Parliament - “Are HDB flats still affordable ?”. The answer is always ‘yes’. Why ? Because the average Singaporean household pay not more than 25% of their annual income for the HDB flat, therefore it is affordable. This to me is like telling you the obvious. If you cannot afford the HDB flat, will you buy it or not ?”

and when the poor folks are hungry, they're expected to eat air?

 

[shelltox]

The sub prime was cause by the finiancial wizards of wall streets lending excessively to people who cant hold on to a decent jobs, and the american who got excessively greedy who remortgage their homes repeatedly just to cash in on the booming property market.
The subprime is a super con job of the 21st century. It will tarnish the already bad image of US and bcos of it , the US would lose it position as the financial powerhouse of the world. After these debacles , the US has lost it moral authority to lead the world.

In the last property boom of the 90s , a friend of mine bought a property for 3million and during the boomtime, the property was valued at 10millions. Everyone envied him and encourage to make use of the remortgage facilities at the banks and invest in properties.
He promptly did that, got 9 millions from the banks, drives around in a rolls royce,committed to buy 10 terrace houses and 10 appartments at 1 go.Where is he now, his building had been taken over buy the banks and auction off, his company went bankrupt and his faithful wife is running around trying to get things back. Always live within your means. If you can afford live in a 3room flat, stay in a 3 rm flat dont go for a executive flat.

 

[halsey02]

Watch Mr Leong Sze Hian's speech in 2 parts here:

http://singaporeenquirer.sg/?p=370

Excerpts from Mr Leong Sze Hian’s speech:

“Last month in Parliament, a question was asked ‘how many HDB flat holders cannot pay their housing loan ?’. The answer - 33,000, 8% of HDB concessionary loans are in arrears for more than 3 months.”

“At the height of the subprime crisis in U.S., according to a local newspaper, the deliquency rate over 90 days was only 5% and here in Singapore, for HDB loans, we have 8%. So is the subprime problem more serious here in Singapore than over in the U.S. ?”

“The HDB used to publish every year a statistic called ‘Financial assistance to HDB flat dwellers’. For this year and last year in the annual report, this statistic has disappeared !”

“Every time a question is asked in Parliament - “Are HDB flats still affordable ?”. The answer is always ‘yes’. Why ? Because the average Singaporean household pay not more than 25% of their annual income for the HDB flat, therefore it is affordable. This to me is like telling you the obvious. If you cannot afford the HDB flat, will you buy it or not ?”

Leong Sze Hian, going start a poll to gather 10,000 signatures to stand for Prezident?

 

[tonychat]

The sub prime was cause by the finiancial wizards of wall streets lending excessively to people who cant hold on to a decent jobs, and the american who got excessively greedy who remortgage their homes repeatedly just to cash in on the booming property market.
The subprime is a super con job of the 21st century. It will tarnish the already bad image of US and bcos of it , the US would lose it position as the financial powerhouse of the world. After these debacles , the US has lost it moral authority to lead the world.

In the last property boom of the 90s , a friend of mine bought a property for 3million and during the boomtime, the property was valued at 10millions. Everyone envied him and encourage to make use of the remortgage facilities at the banks and invest in properties.
He promptly did that, got 9 millions from the banks, drives around in a rolls royce,committed to buy 10 terrace houses and 10 appartments at 1 go.Where is he now, his building had been taken over buy the banks and auction off, his company went bankrupt and his faithful wife is running around trying to get things back. Always live within your means. If you can afford live in a 3room flat, stay in a 3 rm flat dont go for a executive flat.

CPF is the thing that will buffer a citizen's expense in his life. Your PAP master is the one who raise up the price of HDB and remove the CPF of the citizen;s in one go when purchase the flat.

It is not the citizen fault who do not live within their means but your govt's failed attempt to try to meddle with the HDB flat buying policies to offset their incompetence in other areas.

If your govt made mistake , please do not blame the citizens for that. It is no wonder smart Singaporeans choose to stay oversea than living in such ugly hole.

 

[PJ Boy]

In the last property boom of the 90s , a friend of mine bought a property for 3million and during the boomtime, the property was valued at 10millions. Everyone envied him and encourage to make use of the remortgage facilities at the banks and invest in properties.
He promptly did that, got 9 millions from the banks, drives around in a rolls royce,committed to buy 10 terrace houses and 10 appartments at 1 go.Where is he now, his building had been taken over buy the banks and auction off, his company went bankrupt and his faithful wife is running around trying to get things back. Always live within your means. If you can afford live in a 3room flat, stay in a 3 rm flat dont go for a executive flat.

I don't see why this example is relevant. We are talking about people defaulting HDB loans. HDB flats are the cheapest form of housing available. If we have this many defaulters, this shows that HDB flats are priced out of range.

 

[ArtBoon]

I think property is too expensive now...

 

[wallace]

Is Mr Leong Sze Hian planning to contest in next election

 

[Hope]

Watch Mr Leong Sze Hian's speech in 2 parts here:

http://singaporeenquirer.sg/?p=370

Excerpts from Mr Leong Sze Hian’s speech:

“Last month in Parliament, a question was asked ‘how many HDB flat holders cannot pay their housing loan ?’. The answer - 33,000, 8% of HDB concessionary loans are in arrears for more than 3 months.”

“At the height of the subprime crisis in U.S., according to a local newspaper, the deliquency rate over 90 days was only 5% and here in Singapore, for HDB loans, we have 8%. So is the subprime problem more serious here in Singapore than over in the U.S. ?”

“The HDB used to publish every year a statistic called ‘Financial assistance to HDB flat dwellers’. For this year and last year in the annual report, this statistic has disappeared !”

“Every time a question is asked in Parliament - “Are HDB flats still affordable ?”. The answer is always ‘yes’. Why ? Because the average Singaporean household pay not more than 25% of their annual income for the HDB flat, therefore it is affordable. This to me is like telling you the obvious. If you cannot afford the HDB flat, will you buy it or not ?”

Dear Mr Leong,

The HDB flats are highklty subsidised,according to our MM Lee,so those w=owners actually did not pay market rate for their flats.

So if we apply the market rate housing problem in USA,then the equivalent default rate would not so 8% but probably 16% or higher,wow.

Wat the hell is going on with PAP?making so many potential residents going bankrupt?

 

[clinton666]

100% of Singaporeans find HDB flats very affordable. In fact, they find them so heavily dicsounted that there is always a rush for these very affordable properties. Demand usually outstripped supply 5 to 1 and balloting has to be carried out. *For those who are retarded: This means for every flat put up for sale, they are 5 people who wants to buy it*

If HDB flats are not cheap and greatly subsidised, would there be so many buyers.

Another irrefutable indication that HDB flats are very affordable: There are NO homeless people in Singapore. Our country is the only one in the world where Homeless people do not exist. The reason why there are No homeless people in Singapore is we have the most affordable property prices in the world. With such heavily subsidised HDB flats, everyone can afford to own a peice of property. Singapore is also the only country in the world where all her citizens own their own property.

**NOTE: TO ANYONE WHO DARE SAY THAT HEAVILY SUBSIDISED HDB FLATS ARE NOT AFFORDABLE, I WILL PERSONALLY HANG YOU BY YOUR BALLS.

 

[Patriot]

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[Patriot]

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[tonychat]

This guy is good. Hope more unsinkified pple like him around in Singapore.

 

[po2wq]

...
In the last property boom of the 90s , a friend of mine bought a property for 3million and during the boomtime, the property was valued at 10millions. Everyone envied him and encourage to make use of the remortgage facilities at the banks and invest in properties.
He promptly did that, got 9 millions from the banks, drives around in a rolls royce,committed to buy 10 terrace houses and 10 appartments at 1 go.Where is he now, his building had been taken over buy the banks and auction off, his company went bankrupt and his faithful wife is running around trying to get things back. ...

he mixes wif lousy ppl ...

:p

 

[kuntakinte]

Garden School Dropout with plastic chee-bye, you are still poking your fucking eyes to see *** STARS ***

Why HDB did not publish those statistic ? Did Mabok Tan give you a BUKKAKE ??

**CRAPS SNIPPED TO PREVENT BOREDOM**

 

[Ah Guan]

Thanks for posting the vids

I've never seen Mr Leong speak in public

And he's quite a good speaker

 

[Zeitgeist]

Is Mr Leong Sze Hian planning to contest in next election

Anyone willing to throw his hat into the ring is a cause for CELEBRATIONS!

 

[Papsmearer]

100% of Singaporeans find HDB flats very affordable. In fact, they find them so heavily dicsounted that there is always a rush for these very affordable properties. Demand usually outstripped supply 5 to 1 and balloting has to be carried out. *For those who are retarded: This means for every flat put up for sale, they are 5 people who wants to buy it*

If HDB flats are not cheap and greatly subsidised, would there be so many buyers.

Another irrefutable indication that HDB flats are very affordable: There are NO homeless people in Singapore. Our country is the only one in the world where Homeless people do not exist. The reason why there are No homeless people in Singapore is we have the most affordable property prices in the world. With such heavily subsidised HDB flats, everyone can afford to own a peice of property. Singapore is also the only country in the world where all her citizens own their own property.

**NOTE: TO ANYONE WHO DARE SAY THAT HEAVILY SUBSIDISED HDB FLATS ARE NOT AFFORDABLE, I WILL PERSONALLY HANG YOU BY YOUR BALLS.

U are such a fucking moron. NOBODY owns their flats in S`pore. Its called a 99 year LEASE. That means u are renting it on a long term basis. By paying the money for the flat, u are basically prepaying your rent for 99 years. After 99 year or less, u have to RETURN the flat to the HDB. Or at anytime, they can demand it back. Does that sound like u own it! If u lease a car, do u own it or do u return it at the end of the lease. Please read your HDB contract. If u live in a freehold condo, u own it. But HDB flats are leasehold. So, the fact is that S`pore has one of the lowest homeownership in the world. I am really dissappointed the MHA is hiring stupid retards like u these days.

 

[ahbengsong]

only do a quick calculations of what the average hdb buyer is paying for his so-called "subsidised public housing"... the number of years and the minimum payment per month and compare that to the income distribution...

the pap is not for the people but against the people... the above statistics will show the real picture...

 

[TeeKee]

If u lease a car, do u own it or do u return it at the end of the lease.

even if you buy a new car, you have to give it up after 10 years of using it, because you have to buy a new COE again!

owning cars and HDB flats are urban myths in tropical singakarpor!