Comments on: Providing affordable housing – HDB should re-look policies

By: Causeway commuter

Causeway commuter — Wed, 15 Dec 2010 13:00:30 +0000

“No name” has an idea, to put family members permanently in more affordable accommodation in Johor, and himself (if he’s working) with his kids in S’pore (since they’re studying) in small flat. This is the way forward. No need need for maid and FWL. No need for foreign holidays. No need to eat in restaurants or go to Starbucks. Better to get rid of car or not renew COE when it expires. But if cannot resist, get the smallest car possible. Best to just take bus or taxi between Johor & S’pore. Save for future or that rainy day. Lead an international life instead of being parochial nationalist sitting at home reading ST and watching Mediacorp. Consider selling that small flat. If property prices ever do come down, then buy what you need at the time. Otherwise just get into cash and save. If everyone sells, and government releases more land, and people wake up to realise that not all FT are ‘talented’ but cheap unskilled labour that should be kept out, property prices should come down, hopefully without a crash. But till then, keep the immigration officers busy by crossing the frontier frequently and campaign for improved transportation links with Malaysia.

By: Thomas Heng

Thomas Heng — Sun, 24 Jan 2010 06:04:49 +0000

Being a Singaporean has its good and bad… Some good which I find is not so good anymore…. Security… Living in Sg is defintely safer and better that our neighbouring countries… but with ‘Foreign Talents’ comes global crimes… You see more murders, robberies, abuses… I managed to stay employed during the economic crisis in 2008 but you really slogged for the money… earning gross 3Kplus is no means now and 1/6plus of it goes to my housing…. Luckily my parents benefitted from selling our old flats in 1999 which they bought in the 70s for S$7k plus and sought for 142k but our current flat in Sengkang cost 237k and I will have to cleared the HDB loan in 5years times and that is if I maintain employed. I am one of those lucky few that has the support of parents who used to own a flat and I have no intention of selling…
But I am definitely wooried for my daughter who is only 17months. When she grows up will she be able to afford an abode of hers with her spouse or will she have to be like me depends on some form of assistance from me her parents???
Living within our means has somehow become some sort of luxury…I have stayed home at most times and the only form of luxury is having dinner sometimes at a food court near the Compass Point with my family.
I think as Singaporeans, besides being creative, you need lots of luck…to survive the competition comfortably…maybe strike lottery or live with your parents till they passed on and wait for your flat to en block and the vicious cycle continues until the end of time….

By: George

George — Tue, 15 Sep 2009 12:58:29 +0000

The sincerity of the PAP regime is in question.Are they truly willing to help those in the lower income group or do they use their position of power and authority to get their way and at the same time enrich themselves. We do not have rule of law anymore in SinKapore. I am afraid if the case goes to court, the verdict will be in the gahment’s favour. If the parties invovled is somebody else, may be the result could be difference. Lawlessness within the gahment had been the order of the day for a long time. She might elect to go to prison as she could not affort to return the $18K. We may not see the end of this saga anytime soon. Somebody please keep track. I am living too far away to do it myself. I voted with my feet some year ago after my NS. The next big event I will back in SinKapore is the state funeral for our founder. You bet you would’nt see me cry but a grin from one ear to the next. Can’t wait for it to happen. Oh God, please answer our prayer.

By: Ripped Off

Ripped Off — Mon, 06 Jul 2009 09:14:43 +0000

Reply to Mr Boombastic –

Hi! I had your exact same questions in my head when I was balloting for a HDB flat last year, and I came across this write-up that says that HDB prices its flats lower than the market value, which means lower than if you were to buy from the open market or resale in the same estate. If a subsidised rate is given based on the cost of building a flat, then the HDB price for the same size built at the same time should be the same, regardless of location. However, new flats in for example Woodlands are much cheaper than new flats in hot areas like Red Hill.

My own experience, I know of someone who bought a new flat recently in early 09 for $400+k. While I know it was $300+k back in early 08, because I also bought a unit in the same project but back in 08.

So… where is the subsidy?

By: no name

no name — Wed, 29 Apr 2009 16:02:01 +0000

ai yah….read all these very headache lah. Just follow my style lah. Bought big private double storey house ( 24×80 sq ft ) in JB for less than SG125K. Then it’s mine forever & will retire there soon. Kept my parent small flat so my children can live/study in SG. My housewife & old parent stays permanently in JB. Children & I spent certain nights in SG to avoid jams at causeway. Yes my only luxury that I can afford is medium sized SG car that came in handy for travelling.

Best thing is I don’t have to worry about this HDB housing bullshit & my savings in CPF is fattening. Some may question my loyalty….err…what loyalty? I don’t know what loyalty means if I need to sweat out for something that I eventually can’t own.

Cheers….juz my view.

By: Mummy

Mummy — Sun, 12 Apr 2009 20:24:20 +0000

One of the most saddest issue for Singaporean is public housing values via cpf let’s not say private property.

Just imagine the consequences for the next generation. So I think it’s better to be more practical to play safe than sorry “live within our means”. I guess the next next generation will need to inherit their ancestor property if better. So I assumed that our this generation aren’t that bad anyway if we do know how to overcome and play along with it…………………..

By: xtrocious

xtrocious — Tue, 24 Feb 2009 08:04:05 +0000

Or if you believe in conspiracy theories…

some say that the current scheme of using CPF to pay for our housing is to lock us into the system and also to book the “profits” to make their revenue look good…

By: Mr Bombastic

Mr Bombastic — Fri, 20 Feb 2009 03:33:49 +0000

simple question : cost of constructing 1 unit of HDB flat how much? lets say a 3 room one. How much ? How much leh ? how is subsidy determined? heavily subsidised? how is that proven?

By: Xiao liao lah

Xiao liao lah — Thu, 19 Feb 2009 18:17:23 +0000

HDB does not even help reasonably-off single unwedded mums (with 1 or 2 kids) to BUY hdb flat (aren’t allow to buy) so how can hdb help those who are married with so many more mouths to feed? What do you expect from individuals/organisations that have no true compassion?

By: ACACIA

ACACIA — Thu, 19 Feb 2009 16:25:03 +0000

Simple, the government policies are dropping like flies, I mean failing and who suffers, we the oridinary people.

By: angry_one

angry_one — Thu, 19 Feb 2009 09:51:13 +0000

It’s very sad that the outrageous prices of flats here has made us to accepting of these circumstances. The average $250000-400000 price of a shithole in Singapore can get you a big house, even in first world countries. And in those countries, your pay would be double or triple for sg pay!

Our parents wonder why we’re still buying small flats to make-do, just like them when they started out. Our standard of living has NOT improved from the 70s till now! Prices of flats have gone up ten times; but our salaries have gone up 3 times at most.

By: muppet babies

muppet babies — Wed, 18 Feb 2009 04:28:08 +0000

First, we need to define ‘Affordability’.
Also we need to define ‘Actual cost of construction’.

With these can we then have a meaningful discussion.

By: Hernandez Porlanpis kenna humptinised

Hernandez Porlanpis kenna humptinised — Wed, 18 Feb 2009 03:06:23 +0000

18) limsweetsay on February 18th, 2009 12.52 am
“Even if price reduced now, its not possible liao, imho.
why? many already paid and paid expensive flats.”

……………..

in fact, with so many foreigners living here, it is actually very stupid and very risky to buy homes here.
and yet, many is still buying. hohoho
=======================================

I think also the CPF is related to payment for HDB and while trying to make sgporeans more competitive for employers to earn more money, or just to survive, imho, uneducated analysis, this CPF may be a overhead for companies and this is too difficult to be removed EVEN if they decide to cut CPF or drop it altogether.

caught between a rock and hardplace?
i am not very sure if any of u agree with muah.

but i feel that we should move on and think positive.

By: nochoice

nochoice — Wed, 18 Feb 2009 02:13:46 +0000

aiyh, live within your means lah.worse scenerio, buy a tent and move around the perimeter of this island and hope you don’t gt caught.ha.

By: manKhan

manKhan — Wed, 18 Feb 2009 01:44:09 +0000

“The second HDB concessionary loan entitlement for those who have to downgrade, should be given as a matter of course, instead of on a case-by-case basis as has been the HDB’s practice.

What is the rationale for granting a second HDB loan only to those who upgrade to a bigger HDB flat?”

Exactly what i was thinking all along… why make it so hard for people if they want to be more careful with their financial planning?

Faced with this situation now… Considering whether to take a 400K HDB loan for an executive flat… or a 300K bank loan for a 5 room flat… anybody knows which makes more financial sense?

By: LL

LL — Tue, 17 Feb 2009 18:02:30 +0000

Great article!

“Just because one has owned two new HDB flats or private property previously does not mean that one will never be in financial difficulties in the future.”

One of the best lines!

Don’t know what those jokers in HDB were thinking… This is so obvious.

Singapore has NO safety net.

Either you are not lucky and gifted and ended up having to stay in a HDB rental flat or you better pray that you never fail financially because you cannot even end up in a rental flat.

The whole GOVT is run like an insurance company and the ministers just pronounce fantasy with no intention of realizing them.

One reasons why people are emigrating is:

if this is the best team to run Singapore and this is what they can achieve, then there really is no hope for Singapore.

The only solution is to put up another team to run Singapore. Then hope will be restored.

By: limsweetsay

limsweetsay — Tue, 17 Feb 2009 16:52:38 +0000

“Even if price reduced now, its not possible liao, imho.
why? many already paid and paid expensive flats.”

some people hor, neber used the brain wan. forgive them, they no not eonomy repercussion to reverse prices lah. that’s why, old man warn liao, don’t anyhow play play. wait your parents home and your home got zero value hor.

in fact, with so many foreigners living here, it is actually very stupid and very risky to buy homes here.
and yet, many is still buying. hohoho

By: Srilangytus

Srilangytus — Tue, 17 Feb 2009 15:56:11 +0000

5) I no money buy new on February 17th, 2009 3.24 pm
How much to build one 2 rm hdb?

============================

hey bro, when you have the answer , please let me know also.
could this be the most toughest question on earth?

my email is srilanytus_gangooli@gmail.com

By: Mui Lan Hoong

Mui Lan Hoong — Tue, 17 Feb 2009 15:29:06 +0000

Even if price reduced now, its not possible liao, imho.
why? many already paid and paid expensive flats.
if flat price drop, though ease load on new buyers,
i not sure what face the existing flat owners would show , especially those who bot at high.

JB got nice rooms with views not?

By: Singa the courtesy lion

Singa the courtesy lion — Tue, 17 Feb 2009 14:26:19 +0000

waaah. 100,000 households with per capita income of $340 is probably 250,000 persons who need help. Out of 2,000,000 Singaporean citizens(excluding PRs’ & new Citizens because they are highly unlikely to be in the economically-desperate group), that makes 12.5%?