7/09/2012
Property prices will soon be halved
Sinkies can look forward to lower property prices if the reasoning of some quarters can be implemented into govt policies. They have started with commercial properties by halving the length of the lease. And those needing to buy or rent such properties will now be so happy as the properties will now be so affordable, at half price. Sure what, 60 years to 30 year lease, everything goes half.
There are several ways to make property prices even cheaper substantially. One way of course is the size. If Sinkies are content to live in a 350 sq ft flat instead of a 700 sq ft flat, the price can be halved. Very affordable and within the reach of many not so rich Sinkies.
Another way to half the price is to half the lease. Instead of 99 years, make it 49 years. Sinkies will be in glee, and screaming, cheap, cheap, cheap. They will go crazy if the lease is shortened to 30 years and the price be reduced to 1/3. The Sinkies will be shocked into disbelief. What, a 5 rm flat now cost $200k instead of $600k? Unbelieveable, but good, good, very good. Cool man.
I think if the govt does this change, the Sinkies will be so grateful and will definitely re elect them in 2016. This is a new version of Ah Q mentality. It is Sinkie mentality and thinking process, thinking and seeing not further than the tip of the nose. They cannot count, cannot know the real difference. They only see the final figure and will be convinced that they are getting a good deal.
Actually if a 5 rm flat is shrunk from 1000 sq ft to 500 sq ft and the lease shortened to 30 years, it can even be sold at $100k. (600k/2 and divide by 1/3). Wow, so affordable! So good, so cheap. Govt so good. At such prices I think you can even build nursing homes or hospices beside them and they could move off the shelf before the hand is removed.
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32 comments:
Now .... why didn't KBW think of that ?
Be careful of what you wish for ... who lives till 999 years ?? Price crash across the board will occur and the real winners will be ah gong again.
Either way : Lose Win ; sinkies lose ah gong wins ... again...
Dream on lah. Singapore's land scarcity will ensure that property prices will tend to increase.
Sure there will be dips and crashes from time to time, but you have 5+ million on the tiny island and it'll grow (hopefully) to 9, then 15 million.
Even after a "downward correction", property prices will rise again to reflect the true value, given the scarcity of the resource.
Also, there is alot of money flowing into S'pore specifically to "park" in Singapore property. You want to live in Sentosa Cove? Good luck to you. Be prepared to bid UP the prices.
The majority of people's wealth is tied up in property in Singapore. Sure there are a few "sour grapes" who expect the world to change so that they can be happy. Better for them to shut the fuck up with their KPKB, get off their lazy motherfucking asses and work long and hard like the rest of us had to to achieve our financial goals. instead of crying like helpless babies to the government for "solutions".
The Chinese culture suffered a periodic cycle of violent revolution roughly every 300 years. The reasons are inequality impose by the rentier elites on the people, in the form of land rent.
The Chinese solve their inequality problems by killing all landed class and re-distribute land to poor peasants every 300 years.
The Chinese elites got their land not through hardwork, but most often, through forced eviction, usury or wealth accumulation through rent. These elites are government and well connected people.
In SG, the the Land Acquisition Act ushered the force eviction phase. The land of wealthy PAP's enemy are confiscated along with the poor farmers. The land of special class like peranankan district are not only left unmolested, but much infrastructure are built environ to add wealth to these useless bananas.
Places like Katong, Tang lin, Bukit Timah are examples. When you find large numbers of bananas as your neigbour, you are a bit safer But often PAP would still acquire your land but not your banana neighbours.
After PAP got all the land they wanted in early 1990s, land price are allowed to rise to infinity.
The next phase came to pass since early 1990s. Land price rose to infinity. While other east asia countries like Japan, Korea, Taiwan eat the bitter pills of low fertility rate due to exhorbitant rent seeking in property sector, crazy PAP make use of FT to infinity to crank up property ever higher.
Today a small house in Marine Parade are worth S$100 million. That would be able a person to live 100 generations idly without working.
Parasite cheers. Singaporeans need to take down PAP in the next election, and destroy the landlord class.
@above ,
Fat chance of PAP losing the next election ... may be the next next one ... even that ... depends on which muppet is put in placce ...
IMO, although universally hated all over, the PAP will still remain all-powerful, all-knowing, all-providing.
Why? Because the majority of Singaporean voters are property "owners". Singapore has the highest property ownership in the world. (HDB = owned property)
If their property drops in value, they shit bricks. All the would-be govt has to do is to "bluff people" that they, the govt can bring them "more wealth and prosperity".
And it works. Begrudgingly, pai seh pai seh pai seh...ah vote PAP lah.
Same old shit. Different election.
The high land price is due to government's policy than market force. In China, the price of an appartment in cities often cost around 20 years of median income. China is a BIG country. The MSM in China keep on spreading lies that "land is scare".
Relatively small countries like Germany has the lowest cost of housing compared to income. When I worked in Berlin in 2003, an appartment near city center cost around S$160,000. (Now is almost double tax to FED who print monies to bail out banksters)
The fact that Germany has low housing cost is because its elites' mindset are shaped by events of 1930s economics downturn. It is very true that due to hatred against speculator who profit from hardworking folks, angry people voted for Nazi.
We need a Nazi govt that cares for the average guy more than making the rich richer at the expense of the average guy.
You are right to say that Nazi cares for the average guy. I studied for many years Nazi economics which is much maligned by all intellect, and I can generally conclude that Nazi economic 1933-1939 is a great miracle of socialism that every economist try to hide from us.
When Hitler came to power in 1933, during the greatest depth of great depression, Germany is in the deepest shit, than anyone else. By 1939, Germany is the strongest nation in Europe, 100% full employment, workers well fed. Not every Roosevelt is able to do that to USA until much later.
Today, Obama and gangs are useless in front of economic crisis not because there are no solutions. But because implementing such solution actually prevent the rich from stealing from the people.
How much "care" for the average guy is enough ?
The average guy here gets all sorts of rebates and subsidies (medical and housing and education), workfare and a big majority of average guy don't even pay any income tax . You can easily use the money saved from not paying income tax and get yourself KBW $8 Open heart.
The govt has nop business helping the avearge guy get rich. The rules are the same for everybody; if you wanna get rich, move your ass and stop kpkb.
Has PAP strike lottery? How come PAP has so much $$$ to subsidize us? You are really an idiot, whatever the government has is OUR $$$$.
I would think that the slave owners can argue that they even better in subsidizing they slave. The slaves are fed by their masters. Hence their food are "subsidize". Their masters build free house for them. Its really a cradle to death system.
And you are really a moron to think SG poor pay no tax while they are the highest taxed in the whole universe. CPF is a 36% tax on poor but effectively 0% tax for rich.
There are no capital gain tax no estate tax no wealth tax. Hence tax rate for rich is almost zero.
KPKB is not only the right thing to do, but I think a little more violent is warranted. The Chinese society however crooked is better than Indian because the peasants are willing to murder the clever handsome landlord.
No body other than PAP want to live in the Indian society where you stratify 6000 years under the shitty caste system. The rich exploit the poor and the poor believe they are fuck up, bad karma and deserve to be fuck around.
If you really "own" your HDB flat;
Why is it that your children cannot inherit your HDB flat?
- unless your children qualifies under HDB rules
We have one of the lowest home ownership rates in the world at around 10%.
And we pay our landlord, HDB, 99 years rent in advance.
The Sinkies not only pay their rent in advance, they also pay their medical bills in advance, sick or not, doesn't matter.
The amount they are paying is about $34k now and this will keep going up annually while many Sinkies don't even need it.
The sway sway Sinkies will be those that hold on to their flats till the lease expires.
Some people are educated but obviously thinks and talk like a phd retard. And it is really Permanent Head Damage, langgar the head. Don't assume others are idiots just because they have a different viewpoint. And you are ?
Tax is something you pay to govt and you dont get it back. Govt can use tax money for current expenditure (pay salaries) without setting aside a "reserve". CPF is YOUR money, you can use it in case you decide to change sex and pay your medical fees in hosp, or buy insurance. The day you leave, you can will your cpf to anybody. The govt needs to set the money aside for cpf, in resrves, back by bonds and gold.
The rich pays 20% income tax plus punitive property tax if they dabble in properties. The poor pays 0% tax and get various tax rebates like GST, such that their tax will still be ZERO, if they fall within the income.
Capital gains tax and estate duty tax applies to everybody, rich, middle or poor. Some tax is required to keep things in perspective eg car park and cars.
True, the govt 's money is citizens money, and therefore the more important it is to have a honest capable govt than to have a incapable govt. Better to have one that controls than one that waste it away.
Sinkies are no fools.
They know that this is the safest country in the World.
The Government is the least corrupt
and most efficient.
Facility and Amenity are top rated.
The Singapore Passport, Educational Certificate and Sing Dollar are most
recognized.
The Country is clean and green.
The Transport System is second to none.
The casinos are best in the World
and of course, we have the largest population of millionaires.
Ain't You proud for being Singaporean?
Good question. Is the govt controlling our money or wasting it away? Does anyone know? At the moment it is like your CPF, can only few happy with what they tell you.
The bad part, they did not tell you all you need to know. How much has been put in, how much taken out, how much invested, how much profit, how much losses?
All a secret except for a peep of what they want to say.
You dont get back your CPF. At last year rate of increase in minimum sum, the minimum sum will be $700,000 by 30 years time. And PAP is going to inflate away CPF using interest rate lower than inflation.
The rich do not earn their wealth through income, but through capital gain or inheritance. If you target income, you are targetting the poor. This is why Warren Buffet say he is taxed lower than anyone in his office.
The CHC believers are also no fools, like Sinkies, they know that they have the best church in the world, the most reserves, the best facilities, the biggest church, celebrity pastors, well known throughout the world.
They also know their leaders are not corrupt. Ain't they proud of being City Harvestors?
That is why CHC Members are all out to protect their religious leaders.
Sinkies should do likewise with their political leaders and make Sin grows ever stonger each day. Amen.
If Kong Hee and his talented and blessed pastors were to stand for elections and walk into parliament, Sinkieland will be saved.
Hallelujah.
Indeed!
May god makes it happens!
You can get back your CPF if you live old enough. Even if you don't, on the way there you can spend it all you want on your medical. Even if you dont, you still can wish it to whoever you want. So By this definition, CPF is YOUR money, NOT a TAX. And you do get back your CPF.
"And PAP is going to inflate away CPF using interest rate lower than inflation."
So is that a good thing or a bad thing ? In your opinion, should PAP inflate CPF ? And if yes, should it inflate more or inflate less than inflation rate ? I m getting confused here by what you think should be.
Here we go again with a deluded fool.
If you think cpf is YOUR money, try get every cent in your account out, whilst maintaining a your Singapore citizenship.
If you can prove that is possible-- whichmeans you truly OWN that money-- I will publicly cut off my cock and balls at noon in Raffles Place.
The cpf is a TAX disguised to appear to look like it's yours so you can continue your delusional existence in blissful ignorance, and waiting for the next handful of crumbs your PAP will throw at you just enough to make you feel "blessed".
Sweet dreams.
Hehe, come on Friend, on with MS.
You can be our greatest hero or You may not even worth MS's cock.
The Sinkies can get their get CPF monies back if they change the govt in 2016. This issue will get more vicious as more people retire and find that there just isn't much of their money to get back. There could be a rebellion of sort when too many people find it unjust and not right.
The people will vote for their own money. This is a powerful cause and will carry a lot of votes next to housing.
See above on my comments about Tax and CPF. Can you use Tax to make downpayment for a house? Can you use Tax to pay your medical bills? Can you withdraw Tax like Cash when you reach a certain age? Subtle differences in definition in Tax do exists; economic, legal or political definitions etc. No wish to be anyone's hero, it's not worth it here, but the usuage of cock bull swear words to inflate one'e ego just make the writer look puerish and reflects badly on himself.
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See above on my comments about Tax and CPF. Can you use Tax to make downpayment for a house? Can you use Tax to pay your medical bills? Can you withdraw Tax like Cash when you reach a certain age? Subtle differences in definition in Tax do exists; economic, legal or political definitions etc. No wish to be anyone's hero, it's not worth it here, but the usuage of cock bull swear words to inflate one'e ego just make the writer look puerish and reflects badly on himself.
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You still do not get it. You cannot see the point that the significant similarity between tax and CPF. By citing the ultra limited "products" CPF is able to purchase, you hope to prove it is "saving".
In Western Countries, "social security" is considered a form of tax euphemize as a form of "insurance". One purpose of Social security is to make aggregate payment to medical bills. So even in western countries, the "tax" buys you universal coverage as well.
And in elsewhere, the tax are "withdrawal" in terms of pension. And the amount is way more general than our CPF.
Our CPF does not even meet such standard. Its value is going to zero as PAP is inflating it off. So while every sickman get attended, every retiree receive their pension in Western Countries, your CPF value in 30 years time may goes down to zero. Not even enough to buy you toilet papers.
Yes, CPF in fact make you pay more for your house until you bankrupt. You cannot see the subtle financial engineering involve. Because PAP want to roost real estate red hot, so PAP mandated that 1/3 of your force savings cannot go elsewhere but property. By directing CPF into property, PAP create the biggest ponzi unseen in history of Singapore.
Probably that is the only way CPF can be considered as form of "funny money". But that kind of monies will bankrupt you until you lost your pants once property crash.
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Thanks for sharing the article.great post.
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