Sinkies buy 4-5rm flat, cos'' they are getting richer?

[coolguy]

Read in the papers that the application for 4-5 rm BTO flats are 2 to 3 times higher than the total number of flat units that are available.
whereas application for 2 and 3 room flats are lower than the available units. This shows sinkies are getting richer and richer. So all are applying bigger flats.
Well, is that so?
Recently my cousin and his wife applying for a BTO flat on the internet.
They are thinking of applying for a 3room unit. But after filling in their particulars and click on submit.
The systems says they is not allowed to apply for the 3room unit because he and his spouse total income has exceeded $3K.
WTF?
So this is how the system works.
And the MIW propaganda has the cheek that?
Are sinkies FORCED to buy a bigger flat because of income exceeding limit or
are they buying the bigger flats willingly?

 

[Char_Azn]

Read in the papers that the application for 4-5 rm BTO flats are 2 to 3 times higher than the total number of flat units that are available.
whereas application for 2 and 3 room flats are lower than the available units. This shows sinkies are getting richer and richer. So all are applying bigger flats.
Well, is that so?
Recently my cousin and his wife applying for a BTO flat on the internet.
They are thinking of applying for a 3room unit. But after filling in their particulars and click on submit.
The systems says they is not allowed to apply for the 3room unit because he and his spouse total income has exceeded $3K.
WTF?
So this is how the system works.
And the MIW propaganda has the cheek that?
Are sinkies FORCED to buy a bigger flat because of income exceeding limit or
are they buying the bigger flats willingly?

3 rms flats are reserved for the not so well off. Whether U like it or not, the fact that they are forced to buy a bigger flat means that they are well off enough to not qualify for buying a 3rm flat and yes it means that the income level is probably getting higher

However it cannot be used as an indicator to say that life today is better cause
1)the rules are probably setup long ago and might not as relevant today(I can't remember HDB refreshing the rule)
2)inflation not taken into account
3)does not mean a 4-5rm flat is affordable to your cousin since it is subjected to market fluctuation

 

[coolguy]

For a couple whose combined income is 3K, you call that well off?
And you haven't factor in the interest rate for the loan.

 

[LonewolfAlfa]

3 rms flats are reserved for the not so well off.

i disagree and take offense at that generalizing. I'm staying in a 3rm hdb flat in town which is paid in full.

but i have 1200sqft condo which is rented out, i have a conti car and a jap sports car.

 

[0939]

He is talking about new 3 rm flat not resale. For $3000 income to buy a 4 rm. Imagine how would they have to pay using CPF which is not enough but to top up cash. So that leave us to no saving at all. This is very sad. Didnt they say buy what you can aford.

 

[Char_Azn]

i disagree and take offense at that generalizing. I'm staying in a 3rm hdb flat in town which is paid in full.

but i have 1200sqft condo which is rented out, i have a conti car and a jap sports car.

This was what I meant

He is talking about new 3 rm flat not resale. For $3000 income to buy a 4 rm. Imagine how would they have to pay using CPF which is not enough but to top up cash. So that leave us to no saving at all. This is very sad. Didnt they say buy what you can aford.

 

[coolguy]

i disagree and take offense at that generalizing. I'm staying in a 3rm hdb flat in town which is paid in full.

but i have 1200sqft condo which is rented out, i have a conti car and a jap sports car.

When you buy your 3rm flat?
People should be allowed to use their own discretion to buy.
couple may buy a smaller one due to finanical reason and if no kids,
will find it not necesssary to buy a bigger one.
They will naturally upgrade when they want to.
Instead with the BTO plan, HDB planned the allocation of how many 3,4 and 5rm flats to build. And set the income bar to tell you what you should buy.
Once out of job, god luck
Really is you die, your own business.

 

[Cestbon]

HDB forcing peasant to buy 4 room or 5 room due to income level. Many if giving a choice will choose 3 room flat for new couple.
HDB should change/readjust the income level for my ideas maybe increase at least 1K due to the inflation.

 

[Soul_Reaper]

3 rms flats are reserved for the not so well off. Whether U like it or not, the fact that they are forced to buy a bigger flat means that they are well off enough to not qualify for buying a 3rm flat and yes it means that the income level is probably getting higher

Use some imagination and planning and can circumvent the rules like what my malaysian PR cousin & his wife did. :p

My cousin is a PR married to a local girl. Both of them were NUS graduates and had been working a few years when they decided to buy a 3-rm HDB as they do not intend to stay here longterm. But both combined salaries are above 10K and not qualify for HDB. So the wife took unpaid leave to do her MBA. My cousin got his company to sent him for training course in Japan where they only paid him an allowance and no salary. So now their combined income is drop to just below 2K when they submitted their application for 3-rm HDB.

Two years later when they collected the keys to the HDB, the wife returned to the workforce and my cousin got his promotion to management with big pay rise

They continue to stay in the 3-rm HDB although their combine income is now nearly 25K monthly. They use the extra cash to buy condos and rent them out...... and became millionares when they cashed out and moved to Los Angeles. They are US citizens now :p

Singkie gahmen $$$ very easy to earn. :p

 

[makapaaa]

How big are the 4-rm PHoles of today compared to the 2 and 3-room PHoles of yesteryears? What are the sizes of people today compared to the punies of yesteryears?

 

[coolguy]

Use some imagination and planning and can circumvent the rules like what my malaysian PR cousin & his wife did. :p

My cousin is a PR married to a local girl. Both of them were NUS graduates and had been working a few years when they decided to buy a 3-rm HDB as they do not intend to stay here longterm. But both combined salaries are above 10K and not qualify for HDB. So the wife took unpaid leave to do her MBA. My cousin got his company to sent him for training course in Japan where they only paid him an allowance and no salary. So now their combined income is drop to just below 2K when they submitted their application for 3-rm HDB.

Two years later when they collected the keys to the HDB, the wife returned to the workforce and my cousin got his promotion to management with big pay rise

They continue to stay in the 3-rm HDB although their combine income is now nearly 25K monthly. They use the extra cash to buy condos and rent them out...... and became millionares when they cashed out and moved to Los Angeles. They are US citizens now :p

Singkie gahmen $$$ very easy to earn. :p

That's a very rare case. If their combined income over 10K, they can afford
to take unpaid leave and go on courses. They have enough savings to make that sacrifices. Given their positions, they can take liberties for the sake of a better future.
Ordinary peasants can't afford to do that. can they?
A case of the rich getting richer, the poor getting poorer.

 

[Char_Azn]

Use some imagination and planning and can circumvent the rules like what my malaysian PR cousin & his wife did. :p

My cousin is a PR married to a local girl. Both of them were NUS graduates and had been working a few years when they decided to buy a 3-rm HDB as they do not intend to stay here longterm. But both combined salaries are above 10K and not qualify for HDB. So the wife took unpaid leave to do her MBA. My cousin got his company to sent him for training course in Japan where they only paid him an allowance and no salary. So now their combined income is drop to just below 2K when they submitted their application for 3-rm HDB.

Two years later when they collected the keys to the HDB, the wife returned to the workforce and my cousin got his promotion to management with big pay rise

They continue to stay in the 3-rm HDB although their combine income is now nearly 25K monthly. They use the extra cash to buy condos and rent them out...... and became millionares when they cashed out and moved to Los Angeles. They are US citizens now :p

Singkie gahmen $$$ very easy to earn. :p

I dun know about getting 3 rm flat, your case a bit extreme. But I know of a lot of cases where 1 from the couple(usually the one who earns less) will quit to buy HDB flat coz combine earning over 8K. It's actually quite common.

 

[coolguy]

I dun know about getting 3 rm flat, your case a bit extreme. But I know of a lot of cases where 1 from the couple(usually the one who earns less) will quit to buy HDB flat coz combine earning over 8K. It's actually quite common.

If one of them has to quit to get a HDB PH, then the policy has come to a very sad state.
It actually causes more harm than good.
*shaking my head*

 

[halsey02]

For a couple whose combined income is 3K, you call that well off?
And you haven't factor in the interest rate for the loan.

But Ah Bang & Minah can have 9 kids, have kidney problems and still have so many kids..., SINking poreans are well off, in the eues of the MIW's..you ask mabrokey!.. he once lived in a palace at Kim Keat Rd...

 

[Char_Azn]

If one of them has to quit to get a HDB PH, then the policy has come to a very sad state.
It actually causes more harm than good.
*shaking my head*

It's more like pple exploiting loopholes rather then the sad state of policy. The logic behind the policy is subsidized housing should be reserved for the poor. There is nothing wrong with that but there will always be pple taking advantage of the system, like how Soulreaper's cousin is trying to take advantage of the system. Its a lot like how pple in the US exploit their social security system

However the system itself is very old and should be reviewed IMO

 

[i_am_belle]

Two years later when they collected the keys to the HDB, the wife returned to the workforce and my cousin got his promotion to management with big pay rise

They continue to stay in the 3-rm HDB although their combine income is now nearly 25K monthly. They use the extra cash to buy condos and rent them out...... and became millionares when they cashed out and moved to Los Angeles. They are US citizens now :p

Singkie gahmen $$$ very easy to earn. :p

wow ... take off my hat to them * bows *