Be prudent and spend within your means

Khaw Boon Wan has again repeated the call to the people to spend within their means when buying a home, He even pointed out to the 50 year housing loan offered by the banks as a gimmick and discouraged people from taking it up. He also reiterated that he would continue to build more flats to cater for those who have been badly affected by the cock policies of his predecessor. Many have been caught without a flat caused by the curtailing of the building programmes and ended seeing their salaries exceeding the HDB ceilings and thus no longer qualify for public housing. This is the group that are being forced into the private market with income that appeared to be high but would be precariously stuck with a huge housing loans should they buy private. Was his predecessor concerned about being prudent and not spending beyond their means?

Now, would Boon Wan go all the way to undo the damages and harm that his predecessor had caused to the young home buyers and undo the wrongdoings by allowing those affected a chance to buy public housing? Forcing young people to buy their first home from the private sector is simply wicked and definitely contrary to what Boon Wan said about being prudent and spending within their means, not over extending themselves on a big mortgage to service for 30 long years.

Let’s see if Boon Wan would walk the talk and do the necessary to help the young people buy their first home after falling victims to his predecessor’s bad policies. Or would it be another case of ‘It happened, what to do?’


Anonymous said...

Who created the problem from the start? We now have the good guy but is he from the same party where past decisions were made?

Anonymous said...

Sinkieland did very well in public housing for 30 years until an idiot came along. The idiot inherited a very happy problem of more than 10,000 flats. He exaggerated it into a frightening crisis like situation, that billions were tied up in these flats and used it as an excuse to dispose them off quickly. Then he slowed down the building of new flats drastically.

What the idiot did not know, or pretended not to know, was that hundreds of thousands of foreigners were being let in and needing even more flats at the same time.

Now we have this serious problem of housing shortage, ridiculous pricing coz the idiot talked about market forces, market pricing and idiotic affordability. And many Sinkies are left without a flat while foreigners are buying up public housing.

Once in 50 years, an idiot of such monumental crass intellect will come along to cause hardship and havoc to the people. Good riddance.

Anonymous said...

If you don't have first class honour idiot, how to have first class superior shark fin?

Anonymous said...

Idiots probably don't understand that insult

Anonymous said...

Knn that sis all I can say

Anonymous said...

Paying millions for a real talent is cheap really. Can't imagine paying millions for an idiot. What do you think? cheap or expensive?

The said...

It is unbecoming of a Minister to dismiss private sector business as a gimmick. Can UOB sue him?

Matilah_Singapura said...

Buying in the private sector is a blessing in disguise. Those youngsters become independent and have no need to live in "hope" that their high paid minister is going to tell the truth or to deliver.

The less you depend on govt, at a younger age, the better off you are.

The plan for many people is to move into an HDB, work and save a few years, and then "upgrade" to a private condo. If you can buy straight away, you are one voter who has now broken a large part of the political carrot and stick machine used to manipulate you (HDB, CPF).

I have no idea why redbean is encouraging you to remain enslaved by a power-crazed government.

Chua Chin Leng aka redbean said...

Unless your father is a minister and can pay for your property, young people, like Boon Wan said, must be encouraged to be prudent, thrifty and careful with their money. They should be allowed to buy their first property from HDB.

Forcing them to cough out a million to buy private is criminal and only bastards would do that to the young, forcing them to go into big debt when they are just starting life as young adults.

Anonymous said...

No Pro Alien Millionaire wants to change the system.
If they wanted to change the system, they would be in the Opposition parties.

What about changing the party from within you ask?
Well former Millionaire-In-White George Yeo talked about transforming the Pro Alien Party.


So has anybody asked George Yeo for a status update on this transformation?
Hey George! How's the transforming working out for you?

I said it before, and I'll say it again;

Q. How many Millionaire Ministers does it take to change a light bulb?
A. None. They don't want a new light bulb. They want to keep the old light bulb and transform it from within.

Anonymous said...

If people were to spend within their means when buying a home, they wouldn't buy a home! Homes are far too expensive now!! In fact, they are unaffordable.

And if they did buy a home, they would not go beyond a 3-room HDB flat. You never know when you might get retrenched, or when and how much interest rates will rise, so you want to pay off your mortgage soonest. Anyway, how to afford anything bigger.

Unfortunate then that there are not many 3-roomers on the market or being built.

As people could once Really afford to buy a home, more bigger flats were built. That is, flats with 4 and 5 rooms.

Those flats were also bigger in real floor area, as void decks, window ledges and aircon ledges were not counted as part of floor area, which is the case now.

Has anyone compared the price Per Sq Ft of Real floor space over the years with Real floor space (no this and that ledges and void decks) now? It would be interesting to plot the rise and rise in price of the different-sized units viz, 3, 4, 5-room and EC.

Chua Chin Leng aka redbean said...

And they will tell you small is good. Live like dogs in kennels and multiply outside of the kennels like stray dogs.

Anonymous said...

I don't think Sinkies' live is anywhere near the dogs nowadays.

Matilah_Singapura said...

redbean, you really have a very low opinion of the ABILITIES of many young folks. You think that they are unable to earn their way to buy private property?

You are indeed a sad sick fuck. You know fuck all of what i going on in a demographic you're so embarrassingly CLUELESS about.

Goof luck in continuing to make an ass out of yourself ;-)

Chua Chin Leng aka redbean said...

You can continue to suck your banana and feel good about it. I know some youngsters are making good money only to see their disappearing in double quick time because of a home and a car.

Now fuck head, why do you think Boon Wan is telling the youngster to be prudent and spend within their means, and why are so many youngsters, including grads, buying 3 rm HDB flats? You think he is as mad as you?

Just because you know one or two youngsters who could buy private properties does not mean that all of them can. Use your head ok? Sorry, use your banana.

Anonymous said...

Well said RB. Only women put banana in their mouths. Give MS a banana.

Anonymous said...

M_S was spot on.
There are offsprings from the top 10% of Sinkies, top businessmen/women and Millionaire POLITICIANS. They(the offsprings) can afford anything.

Anonymous said...

MS is saying he is socialising with the top 10% but he is not the10%.

Matilah_Singapura said...

Anons please lah. Your posts are so confusing even Einstein will be blur.

Your comments are so cringe-worthy that if Lee Jr read them his asshole will clamp up so hard, the cancer will come back ;-)

We know that there are spoilt rich kids in Singapore - primarily used as "trophies" by their parents. Shamelessly displayed to the world, these silver spooners are constant, living "validations" of the incredible "greatness" of their parents.

But I'm not talking about these people. Redbean seems fixated on them, in a detectable envious fashion. Or worse still, he doesn't believe young Singaporeans are capable of business, professional and financial success.

I'm talking about the silent young "self starters"

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