MM Lee: Young adults will never afford HDB!

[SneeringTree]

Mar 20, 2011
MM: Your HDB home value will never drop
By Goh Shi Ting, Multimedia Journalist, RazorTV

AS MOST Singaporeans live in HDB flats, Minister Mentor Lee Kuan Yew strives to make home ownership the most valuable possession for Singaporeans.

'85% of Singaporeans are living in HDB flats and we intend to keep the values of these homes up. It will never go down,' said MM Lee.

The MP for Tanjong Pagar said that home renewal and refurbishing programmes in Singapore ensure that the value of housing here will continue rising.

He was speaking at the launch of Tanjong Pagar GRC's 5-year Master Plan on Saturday.

 

[Conan the Barbarian]

Actually, for those who own 1 (normal) property or less, it does not
matter if the prices go up or down.

 

[ivebert]

Actually, for those who own 1 (normal) property or less, it does not
matter if the prices go up or down.

Why should everyone own homes?

HDB cause every peasant to take things for granted.

Should price HDB flats very high and make the peasants rent rooms instead. With a harder and tougher life, they will work harder and complain less!

 

[no_faith]

Should price HDB flats very high and make the peasants rent rooms instead...

local rent room. FT buy units. Local rent room from FT. kong simi lj.:oIo:

 

[ivebert]

local rent room. FT buy units. Local rent room from FT. kong simi lj.:oIo:

Time to change your loser thinking

Judge someone by his contribution
Not his nationality
Rich and smart FT are welcomed to replace loser Sinkies.

Pieces of shit graduating from Poly or ITE must rent rather than buy. Or else they will be a liability to the society.

 

[Devil Within]

Mar 20, 2011
'85% of Singaporeans are living in HDB flats and we intend to keep the values of these homes up. It will never go down,' said MM Lee.

Solid proof that the housing prices are manipulated by the PAP government.

 

[dysentry]

It goes back to the problem of how wages are going to rise further if China is so much cheaper.

I think we're headed for Japan-style stagnant economy.

PRCs in Singapore no longer feel that Singapore is competitive and many will be heading back in 5 years or upon completion of scholarship bond. Plenty of opportunities are opening up in Chinese cities, whereas Singapore is already stretched in land and infrastructure and these PRCs are made to feel inadequate speaking English.

 

[Coolsaint77]

Solid proof that the housing prices are manipulated by the PAP government.

Lots of revenue for the coffers... but less disposable income for owners especially the young. Those who believe SG has low tax rates just fail to see there are many more forms of "hidden tax".

No doubt those who own more than one property are happy with asset inflating policies since they could cash out, but i'm not sure how many % of Singaporeans hold more than one property?

The only true way to protect your citizens is like what the Aussies do. Foreigners are forbidden to buy from the resale market, and if they have a property, cannot sell to another foreigner. This is a sure way to keep your property prices at an affordable rate yet enjoy a healthy growth in line with economic growth. Singapore's inflated asset prices is largely fueled by foreign purchasers and this makes it a little more vulnerable.

 

[ivebert]

The only true way to protect your citizens is like what the Aussies do. Foreigners are forbidden to buy from the resale market, and if they have a property, cannot sell to another foreigner. This is a sure way to keep your property prices at an affordable rate yet enjoy a healthy growth in line with economic growth. Singapore's inflated asset prices is largely fueled by foreign purchasers and this makes it a little more vulnerable.

Why should you protect your own citizens in this way?
Providing them with opportunities is the key.
For losers who want to be protected and leech off the system, the government shouldn't hep them

 

[streetsmart73]

Solid proof that the housing prices are manipulated by the PAP government.

hi there


1. sheep here do not owe a home but some pigeon-holes in air.
2. it is pay and lease thing! not ownership.
3. when there is some mechanism pushing up land prices, naturally, such pigeon-holes are "artificially" inflated too!
4. sheep are daft sheep here.
5. no wonder, it works wonder for some broken record!

 

[cheekenpie]

Solid proof that the housing prices are manipulated by the PAP government.

Yar boy. HDB does the valuation so cannot drop ah?

 

[ivebert]

hi there


1. sheep here do not owe a home but some pigeon-holes in air.
2. it is pay and lease thing! not ownership.
3. when there is some mechanism pushing up land prices, naturally, such pigeon-holes are "artificially" inflated too!
4. sheep are daft sheep here.
5. no wonder, it works wonder for some broken record!

Then strive to be the top 20% and own a private property

Don't talk like some loser from the 80% and expect the government to give you a great place to live in without yourself working hard and proving you are a top earner.

 

[streetsmart73]

Then strive to be the top 20% and own a private property

Don't talk like some loser from the 80% and expect the government to give you a great place to live in without yourself working hard and proving you are a top earner.

hi there


1. bro, did you get up on the wrong side of the bed or having nothing from last nite or what?
2. yes, i do work hard enough to get myself a comfortable home.
3. you don't need to be some top 20% sheep or top earner to be yourself.
4. wake up and smell the coffee!

 

[bryanlim1972]

Then strive to be the top 20% and own a private property

Don't talk like some loser from the 80% and expect the government to give you a great place to live in without yourself working hard and proving you are a top earner.

the top 20% is already saturated with children of old money. undoubtedly, a small percentage of each cohort will move up to the top 20%, but over time, it will get harder.

for your party to stay in power, you need to expand the pie and (in future) allow 40% (arbitrary figure) of the people to enjoy what the current top 20% are enjoying (car,condo etc)

the alternative is to cycle the top 20% over each generation through high estate duties to prevent an over-concentration of old money

if your party can't deliver any of this, why should i vote for them? if the 80% believe they will never succeed in getting to top 20%, then your party is seriously fcuked.

and if the 20% don't believe you will protect their interests....

hard work and meritocracy are by-words of the oppression wrought on the middle class.

 

[zhihau]

'85% of Singaporeans are living in HDB flats and we intend to keep the values of these homes up. It will never go down,' said MM Lee.

:p:p:p HUAT AH :p:p:p

 

[borom]

AS MOST Singaporeans live in HDB flats.....Lee Kuan Yew strives to make home ownership the most valuable possession for Singaporeans.

'85% of Singaporeans are living in HDB flats and we intend to keep the values of these homes up. It will never go down,' said MM Lee.

.

This is suprisng ,esp coming from a lawyer.

A lease is a contract calling for the lessee (user) to pay the lessor (owner) for use of an asset.
All locals knows HDB flats are sold on 99 years lease-so HDB buyers are lessees,and the owner of all HDB flats is the HDB (the lessor).

So it is a fiction that 85% of locals (HDB dwellers) own their own homes .

We must be the only country in the world where the price of leasehold properties will never go down..

Is he saying that the price of the HDB flat will stay the same even when it is say 87 years old with only a 12 years lease left?
What kind of accounting/legal/financial principle is that-pray can someone from the ruling party or HDB please enlighten us .

 

[zhihau]

We must be the only country in the world where the price of leasehold properties will never go down.

that's UNIQUELY Singapore :p:p:p

 

[ivebert]

the top 20% is already saturated with children of old money. undoubtedly, a small percentage of each cohort will move up to the top 20%, but over time, it will get harder.

for your party to stay in power, you need to expand the pie and (in future) allow 40% (arbitrary figure) of the people to enjoy what the current top 20% are enjoying (car,condo etc)

That's an ideal situation but not possible in reality

Ask yourself how many workers you have per manager.

That will give you a rough sum about the earning income gap.

This is given the fact that SG is a very small country with no significant industries other than banking, some manufacturing & IT and mainly GLCs.

 

[zhihau]

Should price HDB flats very high and make the peasants rent rooms instead. With a harder and tougher life, they will work harder and complain less!

HDB has always been renting the pigeon holes to people on a 99 year lease. since when did anyone own it?

 

[zhihau]

4. sheep are daft sheep here.

am i daft???