Everyday there are letters written in the 154th about ppty prices being too high and unaffordable.
And everyday, we get a standard reply from HDB that its affordable.
We get calls to raise the income ceiling for 1st time flat buyers but HDB always has some excuse.
Reason?: Those above the income ceiling are FORCED to buy resale or private. This creates an artificial demand for resale or private ppty. This in turn raises the price of new flats and also justifies the increase in land prices all over the island.
It is a never ending cycle.
To all Sporeans, 2011 is our last chance before the damage becomes permanent. Those who already bought ppty years ago may be happy but think about your children's future. $1m HDB flat??
The massive inflation over the past few years have their roots in high ppty prices.
Inflation means: your CPF/savings get wiped out, your non-participating insurance policies get wiped out, your children's CDA account monies gets wiped out, anyone who still on pension schemes gets wiped out.
And everyday, we get a standard reply from HDB that its affordable.
We get calls to raise the income ceiling for 1st time flat buyers but HDB always has some excuse.
Reason?: Those above the income ceiling are FORCED to buy resale or private. This creates an artificial demand for resale or private ppty. This in turn raises the price of new flats and also justifies the increase in land prices all over the island.
It is a never ending cycle.
To all Sporeans, 2011 is our last chance before the damage becomes permanent. Those who already bought ppty years ago may be happy but think about your children's future. $1m HDB flat??
The massive inflation over the past few years have their roots in high ppty prices.
Inflation means: your CPF/savings get wiped out, your non-participating insurance policies get wiped out, your children's CDA account monies gets wiped out, anyone who still on pension schemes gets wiped out.
