Property prices, the $64k question

Anyone suggesting that property prices to come down or HDB to lower the sale price of its new flats is likely to be met with anger from all property owners. This is natural as many have sunk in a lot of money and falling property prices will affect a lot of people adversely.

On the contrary, property prices just cannot keep going up without killing the new buyers. The current suggestion that a $1000 pm income is enough to buy a 2 rm flat is quite enlightening. The govt is prepared to cough out a $60k grant leaving a net price of $40k for the flat which is a steal in today’s hot property market. It is even cheaper than rental, mind you. So why isn’t there a rush to buy such flats? There was a post by a divorcee with two kids and $60k cash in her savings. And she chose to rent a flat for fear of losing her $60k if she buys a flat. Why didn’t she be allowed to buy a $40k 2rm flat instead and free herself from the rental market and with a net gain of at least $100k should she sell her flat?

Anyway, that is another matter. What I am looking at is the opportunity for the govt to sell HDB flats to first time owners at substantially reduced price with a similar grant of $60k or $100k proportional to the size of flats without rocking the market prices. Make this an exclusive offer to Singapore citizens who have done their fair share of NS and are buying flats for the first time. Make this a privilege to be citizens, and ownership of a flat an entitlement for citizens who have pledged to defend this country with their lives. The new and young leaders have forgotten the importance of owning a roof over one’s head and how this policy was the pillar of our national building in the beginning of our nationhood. They prefer to force those who are earning a bit more, or fail to qualify under HDB rules, to lose all their money paying the private developers or end up with no homes. Citizens without a roof over their heads will take the next natural step, migrate. And their places will be filled by new ingrates. Is this a sound exchange?

By giving a substantial grant on a one time basis, the market price should not be shaken as theoretically the new buyer is still buying at the HDB list price. And by not offering to PRs, or to new citizens unless they have served NS and with a qualifying time period of say 5 years as a citizen, it will make a significant difference between citizens, new citizens and non citizens. And it is the biggest acknowledgement by the govt that this country believes in citizens first and the citizens have something worthy to defend and lay down their lives for. It will be very costly for new citizens who chose to avoid NS or to rubbish the contributions of NS men.

It is a win win situation as unwinding the prices of HDB flats is a no go and not unwinding is going to empty the savings of new flat buyers. It is a social contract and something very tangible that will benefit both citizens and the govt/state and not making the present owners feeling sore with falling property prices.

Would the govt seriously review the relationship between state and citizens and put the interests of its citizens and state above all other considerations? This is a major commitment by the govt, a statement of faith to the people, to its loyal citizens, instead of throwing money to still unknown new citizens and non citizens like scholarships that will incur more anger from the citizens. And to rub salt into the wound, they sell their HDB flats with a tidy profit and go on to seek greener pasture.
Why can’t the govt do something really beneficial to its own citizens for once? The lower income earners need help and so do the middle income earners. It is a serious matter to cough out a few hundred thousand bucks just to buy a roof over one’s head.

Believe me, the govt will win a lot of hearts and votes for such a pro citizen policy and will lose a lot of votes for pro new citizens and foreigner policies.


Anonymous said...

redbean says;
"Why can’t the govt do something really beneficial to its own citizens for once?"

The simple answer is that Sinkies are "daft".
Sinkies are die-hard PAP junkies.
Die, die must vote PAP.

Since the Sinkie's vote is guaranteed;
the "daft" Sinkie has no negotiating chip left with the rich & powerful.

Other than the pathetic whinings we see in all the blogs;
"Please lah, I'm a loyal Sinkie"
"Please lah, I have served NS"
"Please lah, I have 3 children to feed"
"Please lah, I just lost my job"

When you negotiate with the rich & powerful;
You must negotiate from a position of strength.
Not weakness.

Anonymous said...

Redbean, true or not, Singaporeans got no homes and foreigners got homes in Sin? Only $1000 income already can buy one.

What are Singaporeans defending when they got no homes in their own country?

Anonymous said...

" Find out just what people will submit to,
and you have found out the exact amount of injustice and wrong which will be imposed upon them; and these will continue until they are resisted with either words or blows, or both.
The limits of tyrants are prescribed by the endurance of those whom they oppress."
Frederick Douglass


Anonymous said...

The price of housing has to go up.

For those who earn a $1K, despair not, sell your 2 rm unit after five years for a tidy profit then buy a 4 rm. And if the You better yourselves with skill upgrades and earn more, move to bigger housing. When the price goes up again, make your pile and go for private property or property in oversea. Much opportunity is made for Sinkies to grab and improve, yet Sinkies are not taking advantage but just whine and whine!

NS man cannot be given any concession in anything, THIS IS UNFAIR TO THE FEMALE CITIZENS.

Ⓜatilah $ingapura⚠️ said...

I agree. The grant will not affect the market price; not in the medium to long term anyway.

Do it and get on with it. This policy seems to be the best compromise in a seemingly non-win-win situation -- meaning, there'll be some winners at the expense of some losers.

Anonymous said...

" NS man cannot be given any concession in anything, THIS IS UNFAIR TO THE FEMALE CITIZENS. "
ANON: March 07, 2012 10:34 AM

I am a Singaporean female.
I think it's fair;
for concessions to be given to the NS man.

Just ask any Singaporean mother
or grandmother,
or sister
or daughter.

Anonymous said...

What they are doing is whole-heartedly for sinkies or preparing for more new citizens? Must check on the catch .

Anonymous said...

I think this stupid grant, will only benefit new citizens. I dun believe they are treating us so well. Just wait and see, all the PRC will q up to buy.

Ⓜatilah $ingapura⚠️ said...

I'd like to publicly acknowledge and thank all the wonderful Singapore gals I used to bang and who used to grind me until it hurt, during my NS days.

You ladies took the "edge" of this (and others I would imagine) forced commitment toward the defence of the nation-state. Many a time, we would feel see pay tulan as the training was very siong with route marches, intense physical activity, and the dreaded general recall which would fuck up the weekend.

Coming back from camp to cumm all over your gorgeous, loving faces kept us going when we were on the brink of giving up and surrendering to the Warrant Officer's cruel drills.

The memories of your pungent, salty woman-hood and the firmness of your breasts provided the vivid impetus for many late-night relief.

Yes, my dear women of Singapore. You served your nation well by providing for the warrior-conscripts who defend your honour, your children and your lives.

I know many of you are mothers and even grandmothers now. I am happy to know that your daughters and granddaughters are keeping the cultural tradition alive, and giving the present breed of National Service Conscripts the beautiful fucking and sucking these young men so dearly deserve.

Thank you. For your service. For your kindness. For your pussies, asses and titties. ;-)

Chua Chin Leng aka redbean said...

If you have used phrases like thank you for your tender loving care, your warm caress, your loving kindness etc etc it will make more pleasant reading: )

Anonymous said...

Sometimes I wonder if this guy is real. He kept boasting about his exploits and conquests. People who are good in their stuff would have enjoyed them privately and smiling to themselves. Why so how liang?

He could be neutered in real life.

Anonymous said...

Behaving like a bitch, kiss n tell.

Victor said...

I suggest having NS for women in the form of nursing, being preschool teachers and what not, make it a year or so

Anonymous said...

Face it. HDB success and desirability is because it is money making for homeowners. If one can buy direct, more money to you. Better still if you get a second helping or picking of new flat from HDB. From unborn child to foreigners, all want a piece of HDB. From divorcees to single gays, all want to own more than one HDB flat if possible(through fraudulent means))

HDB though succeeded in housing locals,and foreigners, is the most abused public institution.

Where the money is, you will understandably know why it shall be corrupted.

And I won't be surprised that public housing will one day screw us all up - politically and economically - if mismanaged.

Anonymous said...

Matilah, remember to do your homework before masturbating to Mary Poppin ok?

Anonymous said...

HDB is like an Ang Moh Kio based prostitute. Every man wants to fuck this cheap piece of babi at the cheapest rate.

Anonymous said...

And every woman is eager to spread their legs to a Cow.

Anonymous said...

Matilah, those duties the girls did as you describe are not NS jobs. Volunteered services are not conscripts' duties.
Those girls, including the very old, are the people who mostly wanted their men, son, boyfren, lover, brother and sibling not to go army. Reasons are simple, the ns soldiers bring lots of dirty uniforms for washing. Ask for extra cash to spend, out of sight and not around. They learn to smoke, drink and talk like matilah, not bad in the sense that they become 'more' manly, some say. And most of all, they learn fuck-all of anything useful in life during ns.

Agongkia could be right in some way, those homeless young rascals may like national service. Free lodging, free food, play with weapons, smoke and drink and look at girls at training grounds. Somemore look like hero and yaya during national day parade.

Anonymous said...

Some people talk like sipeh lau lan,like world class fucking king, chionh like spider....kana sai man.

Ⓜatilah $ingapura⚠️ said...

...and some people take themselves and their fucked-up, no-fun, shallow lives and insufferable existence...far too seriously.

Many of you motherfuckers need to chill out. No wonder Singapore is so stressed.

Chua Chin Leng aka redbean said...

hahaha : )

What's happening?