Shit Times reporter "Home Ownership a pipe dream for many in the US" LOL

[Papsmearer]

http://m.kbhome.com/new-homes-bay-area/the-towns-at-berryessa-crossing

town-homes and condos in this new community are still available starting in the high $500k for 2-bedroom condo and $700k for townhouse. for condos, there's no such thing in u.s. real estate language as "freehold" as the land condos sit on is shared community property with other condo owners. $ are in us dollars. the location is in one of the more affordable places in sj, and it's near the future berryessa bart station, perfect for first-time buyer couples trying to get into home ownership.

SInce you are proving to be very ignorant of real estate, let me plainly explain to you the workings of the condo IN YOUR OWN BAY AREA. A condo can be freehold and many them are also leasehold. As well, leasehold condos can also be converted to freehold if the owners buy out the land from the landowner/developer. In a freehold complex, The land and common areas that are within the condo complex is owned by the strata council. The council is the one that determines the HOA or maintenance fees every month. This example that you have given of a project in the Bay Area, you did not disclose whether its a freehold or a leasehold.

For readers who do not know what a Townhouse in the US is, it most approximate to a terrace house in Singapore. Lets say we say that your example above is not a Freehold condo, but a leasehold. So, what you are saying is that a 2 bedroom private leasehold on say 99 year lease can be bought for $500K? Well, you have me stumped. Because there is no way a similar size private condo can be bought for the same price. We are looking at over $1 million in SIngapore. As for the Townhouse for $700K, good luck. Any terraced home on even a leasehold land in singapore is well over the $1.5 million range. Why do you still claim that Bay Area is unaffordable compared to S'pore?

 

[eatshitndie]

So, what you are saying is that a 2 bedroom private leasehold on say 99 year lease can be bought for $500K? Well, you have me stumped. Because there is no way a similar size private condo can be bought for the same price. We are looking at over $1 million in SIngapore. As for the Townhouse for $700K, good luck. Any terraced home on even a leasehold land in singapore is well over the $1.5 million range. Why do you still claim that Bay Area is unaffordable compared to S'pore?

kong kah ah ne lo li lo so. didn't you ask for a leasehold example from the bay area to compare with a hdb flat? there's no hdb in the bay area. so the most affordable private condo example is used. unlike sg which offers her citizens a hdb option (sinkies don't always need to buy expensive private condos), there's no such option in the bay area. this is why sinkies are lucky to be able to afford a 99-year lease on a sizable home as compared to the bay area, thanks to the hdb and pap.

 

[eatshitndie]

Here is an article from you own SF Bay area news outlet specifically explaining what a Freehold property is and yet you persist in your lies that there is no such thing as "freehold" property in the US? U are such a fucking clown.

http://homeguides.sfgate.com/better-buy-freehold-leasehold-3240.html

of course there is freehold land for single family homes and townhomes, but i'm referring to condos. condo owners do not own their own parcels of land. you totally miss out my conditional phrase "for condos" in your citation. how sneaky and snaky.

 

[ginfreely]

kong kah ah ne lo li lo so. didn't you ask for a leasehold example from the bay area to compare with a hdb flat? there's no hdb in the bay area. so the most affordable private condo example is used. unlike sg which offers her citizens a hdb option (sinkies don't always need to buy expensive private condos), there's no such option in the bay area. this is why sinkies are lucky to be able to afford a 99-year lease on a sizable home as compared to the bay area, thanks to the hdb and pap.

Not true, Singaporean singles between the age of 21 to 35 do always need to buy expensive private condos, no other options in Spore. Of course, can rent a 3 room HDB too and pay 1.5k x 12 months x 15 years based on current rental.