Statistics can be interesting and fun. TOC’s Fang Shihan sat down with Mr Leong Sze Hian to talk about the main bread-and-butter issues of 2009. In this Part One of the interview, Mr Leong looks at one of the biggest issues this year – the prices of HDB flats and provides explanations and some insights into the issues of affordability and prices of flats..
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cpf (if not)…. is the largest bank if to be compared to the 3 local banks….. like co-operative funds that can be easily and readily provided…. however, being a trustee institution, till date, there is no annually audited figures published for the public for viewing.
interestingly, each and every time, cpf is tweaked with petite interest adjusted, is still unable to meet with the ever increased inflation cost.
for the younger generation, getting to be married before age 30 and a hugh housing loans for 25 – 30 years. By then, both in age 60 – so today cpf for the younger generation is to pay for your H igh D ebt B urdens. don even think that both cpf are sufficient for your gracfully retirement.
ThinkAll @”Debt becomes a social, economic and political control.”
LKY publicly said it is his intention to get singaporeans into debt (read: heavy debt) as a way for them to “have a stake in the system” and not “rock the boat”.
The unsuspecting usual singaporean may think nothing about this and might even agree with him, yes people need to be motivated to work and work towards the better good of singapore – but they only need to realize that this means the PAP government is literally imposing crippling indirect taxes on the people and subject them to a lower standard of living which they would otherwise have. (which could develop a viable domestic market – never quite understood the PAP argument that domestic market is based solely on population size. surely disposable income is a better gauge?)
To add insult to injury, the huge capital proceeds from land and property sales are funneled and redirected eventually to our GLCs Temasek, GIC…etc which suddenly owes no transparency or obligation, or for that matter, pay interest to the people of singapore whose money they used.
Not to mention singapore is a highly volatile economy with no social safety net. High debt exacerbates the financial and social stress on singaporeans which indirectly leads to low, almost non-existent birth rates, which leads to the PAP government having the excuse to import foreigners which further increases the social stress factor.
So perhaps singaporeans should stop and think about the symptoms of their lives and question the root causes of them.
35) Wahahaha! on December 30th, 2009 2.56 pm
I ask a simplest of all questions to you the so-called highly educated:
Q: Who knows how many would have voted for the PAP if there is no walkover?
A: ???
See if you can answer this question.
Does the DOS knows too?
Not be surprise if they can cooked up a story later and the whole nation would be a total walkover without anymore GE by just telling you more and more people are threatening the internal security of the nation, possible? yes of course!
It’s an absolute disgrace! Based on MBT’s shameless abuse of “statistics”, we can even conclude that Ferraris are afforable cause most Ferrari owners can afford them.
I saved and saved over many years with my meagre pay to pay and pay for a flat i hope to buy to get married.
Now , all have to be delayed. The price went up again just when i thought i was getting near. The goal post shifted , again, so to speak.
sigh.
i must stop this madness. I have decided. Its this time or no more chance. I dare not imagine my future.
Here is a new artcile regarding surge in HDB prices that I hope will be useful to you:
http://www.propertyguru.com.sg/news/2010/1/27071/hdb-resale-prices-surge-3-8-to-hit-record-high
prepare to move out of singapore if pap wins again. let the 66.6percent enjoy this country……
A 5 room HDB in the East was posted in Property Guru with an aksing price of $990,000! Total absudity!
tiredsingaporean on 3 January: Two quotes come to mind.
#1 “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
#2 “Think of the press as a great keyboard on which the government can play.”
Joseph Goebbels is not exactly the role model most of us would want for anything Singaporean…
Have we forgotten that some 38,000 HDB flats were left unsold for a few years sometime around 2001 .Then HDB started the “5 minutes” flat sales…where one can buy a flat in just a few minutes!
And it’s not hard to sell HDB flats anymore when our gates are wide open to so-called “Foreign Talents” .The influx of FTs has since artificially created demand for flats and its spiralling prices.
But the PAP’s quick-fix has overlooked the social costs and burden to Singaporeans…
Great article. Many foreign buyers is converting to PR and buying HDB with high cash that causes the market to go unstable and COV is peak all time