6/04/2013
Ramp-up in supply of new flats not sustainable: Khaw
What? Ramp up supply of new flats not sustainable? What about not building enough, sustainable? What about ramping up the population to 6.9m, sustainable? What about having more foreigners here?
What about rising property prices? Sustainable? What about ever higher salaries for the elite, sustainable? What about car prices and COEs, sustainable? Higher minimum sums in CPF sustainable? Higher hospital fees sustainable?
What is sustainable?
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27 comments:
I know one thing is sustainable. Keep building more properties to sell to foreigners. We have so much land and so many properties to sell. Sure sustainable.
And yes, yes, we can keep growing our population. This one no problem. Sure sustainable.
Is it sustainable for a political party to be voted to power only to turn around to threaten the people that voted them to power, and to squeeze their balls?
PAP remaining in power is sustainable as long as WP in its present state is sustainable as the best opposition.
This is the mother of all sustainables in Sinkieland.
Which country's best opposition leader said the following?
1. The ruling party is a competent government.
2. Although we are the only opposition which can win some seats, we are not ready to be government.
3. I have no ambition to be PM of the nation.
Sustainable or not, you say lah.
We need lots of rich foreigners so that $10 million condo prices are sustainable.
Let's be frank. How many Sinkies are ministers, top civil servants, CEOs and rich businessmen to be able to afford such prices?
Just like how many talented Sinkies can WP attract to make it as strong or even stronger than PAP?
But of course WP can be sustainable in its present state lah.
That's why cannot keep building HDB flats or else the price of private properties will also fall. You need HDB suckers to prop up the property markets to stay up there.
Definitely not in my most humble opinion.
BUT,
it is still good to have as many of them in
Parliament as possible. So long as they are doing a good job of checking on the Rulers.
RB: //"What is sustainable?"//
Former Singapore's PM Lee Kuan Yew had said in 1957, when Singapore was still a British colony, that a separate and independent Singapore was “ a political, economic and geographical absurdity.”
“Source: Colony of Singapore, Legislative Assembly Debates, Vol. 2, Mar 5, 1957, Col. 1471.”
Please use some COW SENSE.
How can there be overbuilt or underbuilt when population and land sizes are known factors and are control-able?
Which university or farm did the Cow comes from? No brain, use Cow sense. No brain, no Cow Sense, dont volunter to take on the job lah.
Pleassse!
I have to agree with the minister here. Ramping up the supply could wipe out the values of those already in hock to their eyeballs and those who are depending on rental income.
Good call, minister. You have earned your millions for the year. Nice job.
Now, if you can tell that Yaacoub fella that he's not doing his job properly, that would be another bonus for you.
There is this thing call peak collateral. Today even if PAP want to put Singaporeans into debt, all good collaterals are gone.
The PAP ability to crank up house price is in correlation with EDB to create good jobs, provide job securities...etc. Today, these factors are absence.
On an ecomoic crisis, people will get kick out of jobs and get foreclose. People will sleep on streets. Banks will deleverage on their fractional banking.
We will end up very badly.
The End will come soon, LIKE IT OR NOT.
If things that can be controlled and assessed, and the Minister sounded like he cannot cater accordingly, imagine a highly contagious killer disease hit us. I think they will panick and escape to avoid getting infected themselves.
Brace up for more experienced BUT getting to become more incompetent senior(age) senile ministers.
Is PAP sustainable?
khaw afraid there'll be a glut of flats. then rental yield will fall. then buyers cannot service their loans. then banks won't be happy. have to repossess property and sell at low price. pappies just worried for their friends in the banks. that's all. they don't give an f about ah tan, ahmad and arumugam.
OK, here is how I think it will play out.
Caveat: all predictions, even those based on present facts are probabilistic, at best...or I could be totally wrong!
Abe-nomics: PM Abe of Japan (aka CEO of Japan Inc) and his mates at The Bank Of Japan (central bank) have printed massive amounts of money, effectively doubling the money supply
Abe has taken a sizable chunk of this "banana Yen" to pump prime by government spending -- like a drunken lottery winner stranded in Orchard Road.
Japan's debt to GDP is now 230+%, and Abe is enjoying massive support from the Nips. (The Sheeple wil always be Sheeple led to the eventual SLAUGHTER).
My prediction is that this bucket of smelly financial shit will start to unravel in 2015-2016, just in time for the Singapore (and US) elections, and you'll see Jap interest rates skyrocket to double digits, followed by a loud sucking sound as equities (now over valued thanks to global money printing) are being frantically sold off as their values turn useless.
Singapore will be hit hard. Fucking hard. People will be peng san. There might even be capital flight from Asia itself.
...and the PAP will save the day and capitalise on The Sheeple's fears -- making the even more scared...so they, the sheeple will just cave in, and once again kiasu kiasi...vote the PAP back into office.
Nahbeh jibai. More of the same.
Thank you central bankers. I hope your children murder you in your sleep.
If one can think further,Khaw is doing the right thing not to built too many flats.,and he should stop immediately.Why allow young couple stay on their own once they get married.They should continue to stay with their parent.We are teaching the wrong value .And we should allow flat value to go up up and up.Dun be daft.ﹰ
My gut feel is d ppty is not sustainable in near term though I hope it will not crash cos many people will mati ....include me n many many....
Strangely I havr a errly feeling things going for a hardlanding recently cos there r sign of slowdown already ...
Juz pray hard boon wan can sustain the prices etc ...else all mati
Agongkia, how big is your flat? Can take in brothers and sisters and grandchildren and maid?
Hahaha
It is or not sustainable, only the PAP can decide.
Just like whether it is affordable or not, only the PAP's stand is final.
Forget about reality. Just do the right thing (not read the right thing hor) in GE2016. That is the only sustainable and affordable thing that Singaporeans have left to make a difference to their lives.
I agree it is not substainable. The property market will crash when
1) ah kong dies and he is dying
2) pandemic hits this small island
3) ww3 starts
4) investors find it expensive here and start to withdraw investments, jobs etc
5) interest rate goes up.
But the most important factor not to build is it will hurt the property class who is earning big rental money from the working class.
Whatever the arguments and tinkering and wayanging, it looks like we are going back to square one.
You see, Khaw is just playing a game. One day he tells us ramping up is on the way and the next he tells us the opposite. How can those speculators be worried about the property bubble when the assurance comes from the cow's mouth. So, the rich are just going to continue to blow up the bubble without fear. Forget about the productivity shit when making money is just so easy. Huat ah!
@536:
>> Khaw is just playing a game
Actually he's taking a gamble. He wants to go long enough to ensure supply, but wants to hedge by going short in case there's a downturn -- which is more than likely.
Wah. This two million dollar minister (plus perks) -- ONE MAN, ONE LARGE BET -- can gamble on the entire Singapore property sector -- both private and public housing, I think the Wall Street hedge fund managers also blur, and envious.
Think some of the rich and powerful just checkmated Khaw and he has to stop what he wanted to do. How can he go and bring down the prices of properties and make the landlords lose money and cannot make huge profits?
Khaw is the richest person in this world. He controls at least one trillion dollars of assets and no need to pay tax. No wonder he volunteer for this job. Just imagine the amount of 'goodwill' he gets from the developers will be sufficient for his family not having to work for more than a thousands years.
Agongkia's idea is NOT ONLY NOT sustainable.
IT IS NOT WORKABLE AT ALL.
Well, at the end of the day, one just to have learn to understand how a crafty person behaves. Crafty folks are tongue twister, sweet talker, goes with the flow and lack conscience.
Such person will interpret the holy books to their liking and advantage.
The holy books and sutras have two sides and many angles for one to make uses of and argues.
So, the easiest way not to be manipulated and exploited by the sly is not to listen or believe them.
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