For those who may have missed the programme, here is National Development minister, Mah Bow Tan, on the Talking Point programme where he defended HDB’s housing policies.
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//objectivity
//exactly, why was MS implemented? Because of 55yos splurging and spending the money //on mistresses many years back. Don’t you remember?
3 points:
1.Those mistresses were brought in by PAP liberal policies.
2. the amount spent by the people were nothing compared to losses made by TH/GIC
3. as if it is a great idea to punish the responsible ones with the problems of the few by stopping everyone from taking their monies out.
The raise of the MS is a scheme to lend monies to LHL at extremely cheap rate using the problems of the few to punish the responsible ones making them work longer and harder when they needn’t be.
//objectivity
// Of course everyone want high pay, at home kiao ka shake leg do nothing sleep eat job. If you
//want something, go get it. If you don’t want to sacrifice, then shut up.
If you want to deserve your pay by serving as a civil servant, go do your job properly.
Else shut up and leave. instead of wasting time here spreading crap about how great the govt is when they are not.
There will be good people working for Singaporeans.
//objectivity
//Of course everyone want high pay, at home kiao ka shake leg do nothing sleep eat job. If //you //want something, go get it. If you don’t want to sacrifice, then shut up.
This desire does not exonerate the responsibility of singapore govt to act fairly and in the interest of Singaporeans, instead of enriching themselves.
@objectivity
money can be invested in many ways. to say that the pathetic 2.5% is very important tells me that u can not be called an “investor”.
////objectivity
//exactly, why was MS implemented? Because of 55yos splurging and spending the money //on mistresses many years back. Don’t you remember?
if you are so scared, or the govt is so scare, why not start giving out small sums like 400 dollars a month from 55 onwards.
people can put back the money if they don’t need it.
“Dont come crawling back for welfare.”
Fair deal. Then do not prevent people from doing what they need (their own rules & ways) to do in order to survive. Social contract.
fpc
friend wa your writing is so powerful i like yr style especially this good shot IT JUST SHOW I HAVE HIGHER STANDARD THAN YOU this one kana vr chia luck and mice is nice also not bad keep it up i support u all the way .
objectivity
Mar 22, 2010 23:26
Would you care to comment on TH, GIC, GLC and ministerial pay & the whole affair of running our lives by the higher elites. This will make bigger sense on how we are this stage – very visible so-called growth indicators (modern buildings, good infrastructure, etc) and yet dissatisfaction and unhappiness from a lot of people.
“My parents are working 363 days a year 12 hrs a day fyi, and they don’t complain.”
Really ? I call you a bluff. A challenge for you. Name me their jobs and their age. I say it again. I call you a bluff.
If your parents are in such a category, it is extremely odd that you can so vigorously defend their policies. Unless, your family may have received assistance from them.
An open opportunity for you to open our eyes here and prove my assumptions wrong. Understanding quirk but plausible behavior has always been my hobby.
@Old People
As the Singapore population ages, there will be more of such cases. If you read Mr Mah’s statement in Parliament, he will only “show compassion” if the elderly person is abused. In other words, his policy is that he will wait until the elderly person is beaten up before he will consider renting a subsidised flat to the elderly person.
It utter nonsense.
Since when do the citizen own the home when they are on 99 years lease?
I support Nicholas…. MBT is crap
wow dumb and dumber, did he? Which point?
>> See below.
Objectivity: Next, your children would be eligible for cheap housing loans from HDB at the rate of 2.5%.
fpc: Please it is 2.6%.
Rule of thumb – get your facts right.
You want me to point out others?
//objectivity
//Oh yes, hongkong pigeon holes…. Oh wait, isnt even the “dragons” having the problems? Oh
//yes, and USA have the worst of them all
I suggest you should take a look at the housing of Taiwanese and SKoreans.
Yes, there are pigeon holes in HK. We have a slightly bigger pigeon hole than HKer in general.
Does that satisfy you?
You should take a look at the housing (newer ones) of Taiwanese.
It goes to show your low standards in accepting the status for proof of lack of imagination.
” I quoted that from another commentor. But why didnt u comment on the rest of the statement which makes sense.”
Yeah, attributable to another commentor. With no suggestive intention on your part ? You brought up the quote, didn’t you ?
The rest of the statement is limited in context and why should I be guided by it.
“Exactly, why was MS implemented? Because of 55yos splurging and spending the money on mistresses many years back.”
One swallow does not make a summer. You did not answer my question but merely going into a regurgitation of why CPF (or MS as in mandatory saving ?) should be there.
” Can we trust them with personally financial planning.”
I can’t say for others. For myself, I can say that I do not need their trust as far as my own personal financial planning is concerned.
Score to date: fpc 100 and objectivity -100.
“….working 363 days a year 12 hrs a day fyi, and they don’t complain.”
Hope Singaporeans don’t end up behaving like buffaloes and horses.
Instead of PM Lee fretting over how “to fix the opposition” in future, PM Lee should “fix his own ministers and parliamentary secretaries” now.
Read how Mah Bow Tan tried to get his Tampines constituents to move to Woodlands if they can’t afford Tampines after en bloc sale:
http://singaporeenbloc.blogspot.com/2010/03/trilogy-part-b-they-said.html
Why? Probably it is because Woodlands is nearer to JB where Minister Mah’s colleague Khaw Boon Wan is offering “another option” of nursing homes as these constituents grow old, sick and therefore useless!
The Pariah
hey can some explain to me.. I understand tat we been given 3% for CPF- OA and when we take HDB loan we been paying 2.6% But when we sell our Flats in future, we have to pay accured intrest + CPF usage. Y do we have to pay back with accured intrest? is it same as 3%. I am puzzle about this steps. Thanks..
@Objectivity,
I dun quite know where you are coming from, but to my knowledge, HDB’s prices under his hand did shoot up rapidly. This seems to be a good sign for all flat owner like me myself who had recently bought my own unit. But… Singaporean…. Have you ever take this into consideration?
You buy a 4-Rooms flat at 350k. You stay for 10 years, you would have paid close to 60K of interest. So you would be paying 410k for your flat. Let’s just say…. You sold your flat at a whooping 550k at that time. How wonderful….. 140k profits. But think again, you sold your flat, do you need a new one? Of course unless you intend to migrate or move back to your parents’ place. If not you would be paying the equal amount of high price for your new flat.
Meaning….
2010: You bought $350k
2020: Accumulated interest plus initail value: $410k
2020: You sold @ $550k Profit: $140k
2020: Bought new flat @ $550k. Profit left: -$
We as a Singaporean, bought our flat to stay. Even if our flat’s valuation went up, how much would it affect us? We still need to buy another one. What we are more concern is the future of our next generation. Government are blaming the citizen for the low fertility rate. But at the rate the price of HDB is shooting, how many young couple can afford to settle down? Even so, aren’t you worried that your children will not be able to afford their own house in future? The policy to peg BTO and new flats price to that of the resale is so wrong. And this policy was a big big mistake commited. I sincerely hope MBT will be sacked for this but we all know it is impossible and the only way to get rid of him……….. Vote him out.
Yah 1 more point to Objectivity, you mentioned if we do not want to service a 30 years loan, we can saved up more for the downpayment so that interest will be lesser. This is complete nonsense!!!! At the rate the HDB price is going up compared to the rate we save, the longer we wait, the more we can’t afford. or the more we have to pay.
If me and my wife saved $1.5k a month. In a quarter, we will have saved $4.5k. Let’s look at the mean COV for HDB per quarter… It is around 15-20k. Let’s take 15k. In a period of 1.5 years. Prices of the flat will easily appreciate to +$90k if the mean COV remain consistent. While our saving will only increase to a mere …..$27k. So base on that…… Am I paying at least $63K more? So how would that reduce my interest.
1 more thing, He has been commenting that Singaporeans are being choosy…. But If you are going to live there for 30 years and more, you will definiely select carefully. Of cos we are not expectiong to get a flat in a matured estate at the price of a new estate. What majority of the Singaporean want is to be able to afford a house of thier own. At the rate it is going now……… It will 1 day be a dream ONLY for most Singaporean.
Oh yah, of course, when you get your new flats, and sold off your old one…. Do also take into consideration the misceleneous cost that you you will spent. Agent’s fees 3% of 550k. So do you still stand to gained?
//objectivity
//Just return my CPF as soon as possible. – and then become a burden to society?
why would taking back CPF monies make one a burden? Thousands have collected their CPF and they are functioning well.