Overpriced HDB pigeon holes have caused hardship !

[Qinhuang]

In the past, if you have let say, $ 40 k in your CPF ord savings.
The 4-room HDB flat you wanted to buy was 45,000.
You were allowed to pay a downpayment, let say 20 k which means you had another 25K in your CPF savings to pay instalments for the balance loan.

This system provided you a security when you became jobless or got retrenchemt. You need not worry about the instalment for many many months.

But now if you have 100K in your CPF savings and if you buy a HDB flat worth 200K, the HDB wipes clean the 100K in your CPF savings leaving nothing behind except your monthly contribution. If you lost your job or get retrenched, you have problem keeping up your monthly payment to the HDB. This system of wiping clean your CPF savings at confirmed sale brings hardship if you unable to pay.


You see why the PAP dogs are paying CPF contributions for the employers.
Anyway, the CPF money is still the PAP money after paying the HDB.

Lanpar parlan ! The HDB leaseholders will suffer if the recession carrying on for another 2 more years.

HDB collapses means death to PAP. Majority resale flats are bought by PRs to jack up the price causing a fake demand, without them, PAP and pariah dogs are doomed.

Mean while, merry with the mediacock's the little Nyonya frenzy. The pain will go away with the Nyonyas

 

[zhihau]

But now if you have 100K in your CPF savings and if you buy a HDB flat worth 200K, the HDB wipes clean the 100K in your CPF savings leaving nothing behind except your monthly contribution. If you lost your job or get retrenched, you have problem keeping up your monthly payment to the HDB. This system of wiping clean your CPF savings at confirmed sale brings hardship if you unable to pay.

bro,

you forgot to mention that after they are done paying the up-front rentals, the peasants do not have the minimum sum for retirement and therefore unable to retire, and they are to work and work and work into old age. last but not least, after 99 years, the HDB pigeon hole goes back to the HDB.

 

[DerekLeung]

The idea is to wipe off your $400,000.

Otherwise how PAP can force you to work till 80.

 

[hockbeng]

WORSE IS YET TO COME.

OVER-PRICED HOUSING IS SUBPRIME AND NOT SUSTAINABLE!

SINGAPORE: Singapore’s Finance Minister Tharman Shanmugaratnam says it will take more than a year for the global economic crisis to unravel.
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Speaking to Bloomberg Television on Thursday, Mr Tharman says the world has yet to see the worst of the downturn, as banks are still in contraction mode and focused on recapitalisation, rather than lending.

He said, "The foreign banks are still in the mode of contraction. I think every large global bank is still looking at building up its capital, much more than it’s looking at extending new loans. So we are still at that phase of the crisis where recapitalisation is still the priority and estimates of the extent of bad assets on their books are still on the upswing. So, we haven’t seen the worst yet."

Mr Tharman says that is why it is a good move for governments in the West to help these banks recapitalise and incentivise lending.

The minister also responded to criticism from some quarters that Singapore’s economic growth model makes the country vulnerable to swings in global demand.

Mr Tharman says the country’s future and fortunes are tied to global markets.

As for investments by Temasek Holdings and the Government of Singapore Investment Corp in overseas banks, Mr Tharman says they have so far been so good, performing credibly by international standards.

 

[Dogsquare]

a 4 room HDB was 45K, now 200K!! So sinkie work, work, work to pay debts, no time to play politics mah.
in this crisis, man on the street are very fed-up liao. If the so call resilient package do not resolve the unemployed's woes...., it would spell trouble for pap to gain much majority.

 

[popdod]

last but not least, after 99 years, the HDB pigeon hole goes back to the HDB.

Before the land lease ended, HDB will relocate you to another place.
So either you upgrade or downgrade your flat.

If you upgrade, you must pay the differences
perhaps another 10yrs of loan again.

If you downgrade, you find a smaller place to stay.


:p

 

[snrcitizen]

But now if you have 100K in your CPF savings and if you buy a HDB flat worth 200K, the HDB wipes clean the 100K in your CPF savings leaving nothing behind except your monthly contribution.

Doesn't everyone realise that this is the only way to minimise/eliminate the payback of cpf monies to retirees? For years everyone has raised the suspicion that cpf money has been syphoned off. So doesn't it add up that HDB has intentionally pushed up the prices to wipe clean, on paper, the money owed to contributers?

 

[ahbengsong]

sinkees are slow to learn the pap "you die your business" implied meaning...

 

[singveld]

pigeon hole too expensive
and a property bubble waiting to burst.
but pap control the land, control everything

maybe they may be able to prevent a property crash, but maybe estate will be full of empty house.


If it drop to an quarter, then i buy.

 

[DerekLeung]

Owning a HDB is more foolish than owning a private unit here in Singapore .

Most dumb Singaporeans are lead to believe that HDB is great .

 

[xebay11]

Owning a HDB is more foolish than owning a private unit here in Singapore .

Most dumb Singaporeans are lead to believe that HDB is great .

This one I cannot agree with you, many peasants simply cannot afford private property, so what choice have they got?

 

[zhihau]

This one I cannot agree with you, many peasants simply cannot afford private property, so what choice have they got?

imagine all of these folks decide to sleep in the streets...

 

[zhihau]

Before the land lease ended, HDB will relocate you to another place.
So either you upgrade or downgrade your flat.

If you upgrade, you must pay the differences
perhaps another 10yrs of loan again.

If you downgrade, you find a smaller place to stay.


:p

that's why i choose not to rent the pigeon hole

stay put at my folks' place until i fly off :p