Then why are
the property professionals saying ‘what they would like to see from the
authorities is more data, such as the number of years needed for households to
pay off their flats, or the ratio of the flat’s price to household income
tracked over a period of time.’ What these professionals are saying is that
they don’t believe in what the govt and the minister said. And the reason is
simple, so simple. It depends on so many things that are so hazy and subjective
that anyone can claim anything they want by nitpicking on what they want to use
as the data.
Let me point
out a few misleading facts. The above comments about affordability, 80 percent
paying using CPF and not having to touch cash, therefore affordable? And another
number quoted is that ‘they are using a quarter of their monthly income on
average to repay their housing loans’. This is below the international
affordability benchmarks of 30 to 35 percent. Don’t forget, the CPF
contribution is 17 + 20 percent! Using a
$2000 monthly income, the total is $340 +$400 = $740 or 37 per cent if one is
using all his monthly CPF contribution. What about those having to top up with
cash? The bottom line is 37%. How did they get the number of 25 per cent or a
quarter of their income? Ok, maybe got to deduct for Medisave etc.
And income
is household income, not individual or one income. And the affordability is
about HDB flat at the bottom, 2rm or 3rm flats. What about bigger flats, what
about private properties, 3m, 30m, 50m? Should Singaporeans be happy and
contented that 2rm flats are affordable?
What about
retirement? How much is left for retirement after paying for affordable 2rm HDB
flats? What about the number of years to repay? If one needs 30 years to repay,
how many years left for one to save for retirement? In reality, many would be paying and paying
for their entire life as they are not stopping at the first HDB flat. This
means no time to save for retirement, nothing much left for retirement.
Can anyone
ask why until today, when everyone has been kpkbing about housing
affordability, there is still no agreement as to what is the acceptable formula
to measure affordability? Simple, because everyone wants to use data to suit
his agenda to tell the things he wants the people to know. In other words the
truth is selective truth, biased truth, distorted truth, nothing but the truth.
Some
analysts are suggesting using the mid range of the average Singaporeans with
$3k or $4k household income and the price of a 4 rm flat to be used as the
average data for the average Singaporean, not the data of the bottom feeders as
the national data. Or there could be different sets of data, for the 2rm, 3 and
4 rm, 5rm and above, private condos and landed properties to show the different
grades of affordability.
Using a
figure, those of the lowest income and with govt subsidies and grants, is not a
fair measure of affordability. Who is kidding who? Is this a case of statistics
lying or people lying?
Did anyone say honest men don't lie?
29 comments:
They said we subsidised two billions in grants.
Cost price at 10k sold at 100,000.00 then subsidy at 20k. Still make 70k. Afforable??
Somemore subsidy not to all.
Our time paid within five years for 5 room flat at 30 to 50k.
Afterwhich savings started for retirement account.
Can even have propertiea.in matland.
Yes! Yes! Yes!
Housing in this very very very crowded tiny city state is affordable!
Why? Why? Why?
Just look at the BTOs.
Looooooooong Qs and many many many times oversubscribed!
Must be affordable, right?
Cheers.
Affordable? Of course with a million salary per year, anything is affordable. What minister did not mentioned is that he refers to small HDB units in a far far away places. Loan is stretched to you-know-when. By the time you settled your loan payment, you have nothing for retirement unless you sell your flat and go for rent.
That's what they meant!
Ha ha... if people believe the BULLSHIT from the govt that on a wage of $2k pm you can "own" (another lie) an HDB in one of the most expensive cities in the world, then maybe they should also believe in fairies and goblins, and that there's an invisible sky-wizard who loves them unconditionally. ππ
Perhaps they don't believe in the sky-wizard, but they certainly do believe that the govt. ministers have 'magical powers" to make $2k per month salary "magically" expand its purchasing power so that the doe-eyed gullible motherfuckers aka "sheeple" are suddenly transformed into states of exultation akin to a religious experience. Ah....allahoo snack-bar!
Maybe the goddess Kwan Yin will bless Yew with a cheap home in the one of the world's most expensive cities so that your shitty $2000 per month makes you as economically potent as a multi millionaire. πΉππ©
Got magic? Got miracle? Is there a difference?
The era of property inflation is over and we are on track of a 50 years bear market. PAP has created property ponzi through FT ponzi. However, there is a few headwinds against PAP attempt to enrich landlord.
First we are having an aging society, if PAP never open flood gate, our property would long have crash after 1997. This year is 2016, and the 1945 baby boomers are 71 years old. The baby boomers are those who create the property demand.
With the skyrocketing healthcare cost, many would be selling their properties to fund their retirement. Even if they are not selling properties, they could be living with their children, and that takes away a property buyer.
The population ponzi come to a halt not because PAP is kind but more because they have no choice. We are no longer that rich and places like China is no longer that poor. In fact, the GDP of Shenzhen Nanhua district is close to Singapore.
That is to say, we can no longer get quality migrant.
How about flooding us with low quality FT? Low quality FT will come with scam, crime and create useless low level low wage job, make us more crowded, and eventually the Jim Rogers type will start to flee.
Actually we are stripped mined by LHL. He has unlocked the potential of Singapore, so that his reign show growth. But the consequence is very damaging.
Whether HDB flat is "affordable" or not is my business.
Not the PAP government's business.
What is the cost of building a HDB flat?
What is the PAP government's profit from selling each HDB flat?
must be affordable mah.........
otherwise how to get 70% leh........
I forecast property market will drop 50% even with FT. To reverse property deflation, we should put our women to baby making. Actually PAP hate to tell you they are ambivalent about this. Reason is, putting our women to motherhood, actually takes out a workforce, reduces family income.
If every women are mother, family income will reduce by 50% and that is to say, property price will drop by 50%.
PAP is in dilenma and they are never never interested in making our women housewives. In fact, our women are conditioned into career women, and that hit birthrate, boost property at short term, but harm property at long term.
The root of problem is greed of elites. It is a lie that government cannot influence women to stay at home. There is a lot of policy leverage that this can be done. In fact, Singaporeans are among the most pro family in developed countries.
"Singaporeans are among the most pro family in developed countries."
January 04, 2016 9:53 am
And since our fertility rate is so low.
Can we conclude that PAP has failed Singaporeans and Singapore?
Can we also conclude that Singaporeans are daft since 70% of us still continue to vote for a failed PAP government?
You go to white man land, and you realize their women (especially the blacks) only want to fuck. So a black man can walk around with 10 childrens from 10 different women to the appall of east asian. Then they sit back fuck and fuck, survive on social security.
The USA high birthrate is because they are not pro-family but pro fucking.
Singaporeans simply want to start a family with 2-3 kids and remain married.
Technically this run into a lot of difficulty. The government can always screw you with properties, high college tuition, high risk of medical fee for congential dieseases.
So your women need to start working, to bail out landlord.
A pro family people will be easily manipulated into sterile.
A pro fucking people cannot be manipulated to this stage.
PAP is lucky that they lord over Singaporean Chinese. if they rule the blacks, Singapore will be another Haiti, a land of rape and mob killings. Despite of shithole, Haiti black will fuck and fuck and they will not have problem of aging.
Do you think PAPigs are "pro fucking" the daft Singaporeans?
Just like back in 1980 Japan has three generation property loan to make property affordable. I think at one stage one of our local banks also considered that but rejected by government. So property is affordable if u make it a 100 years loan plus double income. Knn anything can be explanued away!
The East Asian property bubble is due to greed of idle elites, who want to front run workers, and rent seek by doing nothing, by making property rise faster than wages.
Before, Japanese was fooled into thinking that Japan is so small, and her property wont drop. Right now, her property is down 70% and still no end in sight.
Japan elites must have ponder about FT policy but they balk at it. For 100 million of Japanese population, Japan need import at least 10 million each year to continue her ponzi and that is unthinkable. Import 10 million alien.
And right now, Ghost town and gentrified suburbs are popping out even in Tokyo and environs.
Actually the best solution is the elites need to forgive the debt of her citizen and do a reset on property price, make women stay home.
At least Japan women are staying home and Japanese elites have allow property to fall.
PAP never change.
"PAP never change."
January 04, 2016 11:31 am
PAP will change when Singaporeans change.
------------
"Domestic violence and abuse can happen to anyone, yet the problem is often overlooked, excused, or denied.
- This is especially true when the abuse is psychological, rather than physical.
- Noticing and acknowledging the signs of an abusive relationship is the first step to ending it. "
SOURCE:
http://www.helpguide.org/articles/abuse/domestic-violence-and-abuse.htm
Singaporeans, Japanese and all Asia societies in general are stupid.
Work hard to earn more money.
With more money, we chase the property prices higher.
Since property prices are higher,
We work ever harder to earn even more money.
And the cycle repeats itself.
..........
We all need slow down and relax.
Earn less, fuck more.
Fucking in a 3 bedroom HDB flat feels just as good as a million dollar landed property.
Maybe even better since there is no stress of a big mortgage to pay off.
They are all landlords and planning that their properties would provide enough for their grandchildren and great great grandchildren to live their lives without having to work and getting richer still.
So, you think they would let property prices to fall? They even removed estate duties of added good measures.
So, you think they would let property prices to fall? They even removed estate duties of added good measures.
January 04, 2016 12:02 pm
Why you blame landlords?
70% Singaporeans support rich landlords.
There would be no rich landlords if 70% of us are not so daft.
All schools are good schools.
Why you don't believe PAP?
All HDB flats are affordable flats.
Why you don't believe PAP?
Lelong lelong,
Shanghai shares halted for the day as 7% drop.
Tonite toto 2.2. Preapare for firesales.
HUAT AH!!!
Everything is affordable so long as someone can buy it, right? The bungalows around Bukit Timah and Tanglin are also affordable by the PAP's definition.
You cannot argue with them. What they say has to be taken as the truth. If one day they say black is white, just believe them (with buckets of salt, that is).
The best way to improve fertility is to import 100,000 blacks from Africa, and their women produce 7 kids each in their life time. You need to give them social security else they will cry Chinese discrimination.
Their kids will grow up to be criminals or school drop out.
Soon, gangs will start terrorizing Bukit Timah, raping elite women. The rich will move out.
Chinese society is the most manageable society in the world producing high calibre and high quality citizen.
Singapore is so good because Chinese here anchor good culture. Unfortunately due to the greed of elites by property inflation, Chinese are dying a slow death via infertility.
When Chinese drop to zero, the value of elites wealth will also go down shit hole.
One child policy or no children will mean the wealth will go to no one after one generation.
One child policy also mean one child inherit 2 house and there will be no buyer. Eventually there will be ghost town.
Only dumb people believe in politicians and their sponsored surveys or studies.
Singaporeans should be less money-minded and concentrate more on population growth. Good for the future of Singapore. The PAP government is currently encouraging marriage and starting family policies. Singaporeans should listen to the good PAP policies and help go the population for the next 25 years. Singapore needs a young workforce and at this moment in time the only way to solve the economic problems and to grow GDP is to use imported FTs. PAP's policy of encouraging white collar FTs from India, PRC and other surrounding countries is a good policy. FTs from Europe and the USA are mainly in Singapore to help Singapore with the managerial jobs. Singaporeans should learn from these latter FTs and upgrade themselves so that maybe one day in the future Singaporeans will not have to utilise these highly paid FTs.
So wake up Singaporeans. PAP is good for the country. Stop kpkb all the time.
Hungary gov will give a house free for family having 3 kids, can sg gov match that?
Eversince sg bring in more immigrants, sg ends up having more debt. The immigrants can run back to their home country, the country debt will still have to be serviced by the locals. Its a vicious debt trap all along the politicians have placed towards the people. Immigrants good is all along a bullshit propaganda created by bankers who get richer using debt traps.
"The best way to improve fertility is to import 100,000 blacks from Africa, and their women produce 7 kids each in their life time."
January 04, 2016 4:02 pm
Best way to improve fertility is to import 100,000 whites from Europe to fuck our Singapore women.
http://www.tnp.sg/entertainment/jamie-yeo-announces-separation-apologises-causing-divorce-former-hubby-glenn-ong
Lucky this ang mo gave us a baby before the Singapore mother loses her fertility.
Lucky, lucky, lucky.
"The best way to improve fertility is to import 100,000 blacks from Africa, and their women produce 7 kids each in their life time. You need to give them social security else they will cry Chinese discrimination.
Their kids will grow up to be criminals or school drop out.
Soon, gangs will start terrorizing Bukit Timah, raping elite women. The rich will move out.
Chinese society is the most manageable society in the world producing high calibre and high quality citizen.
Singapore is so good because Chinese here anchor good culture. Unfortunately due to the greed of elites by property inflation, Chinese are dying a slow death via infertility.
When Chinese drop to zero, the value of elites wealth will also go down shit hole."
Veritas is back to his racist self. This time against Africans. He has an unexplained dislike for dark skin and a strange love for yellow skin.
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