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8/03/2009

Chok Tong's 10 challenges

Chok Tong has thrown 10 challenges to the new political leadership as we celebrate 44 years of dynamic progress and economic growth. What I feel is that Chok Tong is unduly worried. There is no cause for concern if one reads the comments in cyberspace, the home ground of dissent, dissatisfaction and cynicism. The criticism of the govt were all very superficial and lacks dept. Many were just simply kpkb, with no substance. How could one call it a genuine complaint or hardship when one needs to pay 20c more for a service or $10 more for goods? Fortunately these are met by the real and genuine responses from contented Singaporeans who are very grateful for what the govt has done. We have progressed in leaps and bounds. And many Singaporeans can be proud to tell the world how expensive are their houses/flats and cars. Their homes will appreciate in value every few years, maybe doubling in value every 5 to 10 years. With this kind of progress, even living in the same 1000 sq ft unit, no Singaporeans would mind. All they want to know is that their homes are getting more expensive and another sucker will be queuing up to buy from them. Then they themselves can upgrade to another 1000 sq ft unit and pay double the price for it. Another sign of progress, to be able to pay for ever more expensive housing or the same size or smaller. For those who have made enough, they could downgrade into a 1 rm rental flat and live happily ever after.

7 comments:

Wally Buffet said...

Come to think of it, the HDB creates wealth for Singaporeans. I bought my 3 room HDB 30 years ago for $6K+. I sold it to a new immigrant for 358K with a capital return of a whopping 60 times! Even my mentor, the great guru real McCoy, Buffet cannot beat this kind of investment returns. And also, I have stayed in it for 30 years, married, brought up children who now has children of their own. Where in the world can you find this kind of benevolent government? OK, Ok, maybe they paid themselves a bit more but look at the big picture. In fact, I am so happy that I wouldn't mind if when we come out from this current glitch that their take home be increased by another 30%. I think they earned it after having brought home the big fat bacon.

redbean said...

wait huh wally. let me take out my calculato first. by your numbers, $6k becomes $360k in 30 years, this means that a $300k unit will become $18m in 30 years or doubling in value every 5 years.

$300k - $600k in 5 yrs, $1.2m in 10 years, $2.4m in 15 years, $4.8m in 20 years, $9.6m in 25 years and slightly more than $18m in 30 years.

i am going going to be a multi millionaire man! in face all singaporeans will be multi millionaires in 30 years time.

Anonymous said...

Mr Wally maybe helpful to readers here by providing tips and guidances on how to get a beautiful mansion at the price he paid in Lijiang(Yunnan/China) or anywhere else out of SIN. We will be grateful !

patriot

Wally Buffet said...

Redbean,

By that time, one banana will cost you $1,000 Singgit.

Hehehaha.

Wally Buffet said...

Patriot,

One 3 room HDB fetching S$358K translates to RMB about 1.8 mil. Land in Lijiang, dirt cheap, say 800K RMB. Building cost another 800K. 200K for "incentives". With this kind of money, the mansion comes with gold (plated) taps in every ensuite.

Anonymous said...

Mr Wally

I envy You !

And Singaporeans can consider going over(to Lijiang). It is likely to end up as a wise decision.

patriot

redbean said...

eating bananas and paying banana currency : )