HDB/CPF transaction – Dead man is alive

I am wondering if this is a good analogy of the transaction involving the purchase of a HDB flat using CPF money. Many would believe that once the purchase is fully paid up, by cash or CPF money, the deal is done, the end of the story. In reality the purchase of a HDB flat using CPF money, even when fully paid, is like a man suffering from cancer. The ‘dead’ man may not be walking around, but inside him the cancerous cells are fully alive and kicking, non stop. Even if the man drops dead, the cancerous cells continues to multiply until the body is burnt or rotted away.

Many would thought they would have peace of mind once they have fully paid for the property even with CPF money. If it is cash, the transaction is done and everything ends. Once CPF money is involved, the whole deal is alive and kicking, because someone said the CPF money is not yours. There are two parts to this deal that will continue to be alive like the living dead. One part is the financial obligation owed to the HDB that could be changed over time. The second part is the interest owing to the CPF money which is rightly your money, but to some not your money.

In the case of the HDB part, when you sell the property, the HDB has the right to impose a levy on your capital gain. Who owns the property? And when you resell the HDB flat, you would have to pay up, to the HDB, a percentage of the sale price as levy. It is your property, you pay property taxes, but HDB is sitting there waiting to rob you of your capital gain as if it is a passive owner of your HDB flat. Clever or sneaky, up to you to call it. In the case of a really private property, you sell and get back whatever is the transacted price.

The CPF part is that though the money is yours, though the purchase is fully completed, the CPF is still counting the interest on the CPF money you used for the property. There is no such thing as a done deal. The CPF interest is forever kept alive, like cancerous cells. Some were so intrigue by this ridiculous thing of paying interest on using your savings to buy properties. When you sell the property, the interest would be computed, back dated to the day you buy the property with the CPF money. Clever or sneaky, say what you like.

It is as good as dead man alive. When one takes a bank loan to pay for a property, this transaction is fully closed. The part that is alive is the repayment of the loan taken from the bank. When using your CPF, you will still be owing interest to your own money you withdraw from the CPF. You borrow from yourself to pay for a property and you owe interest to your own money. If you die without selling the property, I dunno whether the CPF would insist on your beneficially to pay for the interest when they sell your property. Presumably they would not as you will be dead and gone.


Anonymous said...

If you want your CPF and your HDB flat to belong to you .... vote Opposition.

Is it true?
As long as PAP is the government;
Everything we own belongs to PAP because PAP treats us as slaves and not citizens.

Anonymous said...

It's called the accrued interest in CeePuiFxx monies as calculated to the first day when you buy the HDB flat using CeePuiFxx monies, it's now Ah Kong monies no more yours ( as wat a handicap Char Bor told in parliament few yr ago), this ah Kong monies changes goal posts or roti prata as it deems fit, yet there r 70 % Dafts think that ah Kong monies is theirs , stupidity has no cure ..

Anonymous said...

Knn, lucky I bought private property but when I was 55 and withdrawing my fund other than minimum sum, the cpf officer offered me to pledge my property so that I can withdraw more and kept only 50% in minimum sum. Lucky I smart and I told them other than the minimum sum Kena tangkat (caught) there I don't want to have anything to do with Cpf anymore. If not Knn, even the private property also won't be mine as cpf will have her hand in it.

Anonymous said...

Knn, lucky I bought private property ....
January 07, 2018 9:48 am

Do you think your private property is safe?

Private car owners thought so.
Until COE was introduced in the 1990's.

Is the above comment true?
Is it fair?

Anonymous said...

Vote smarter in GE 2019
Work harder for the rest of your life.

Anonymous said...

Anonymous January 07, 2018 9:54 am
//Private car owners thought so.
Until COE was introduced in the 1990's//

Anon 9.54am, to be more precise, COE was introduced in 1990, the year Laogoanomics superceded the wisdom of GKS as the de facto economics to run peesai economy (to the ground in the LR)?

The wisdom of GKS is about sustainability?

But Laogoanomics is all about steriod-pumped short term success with long term liabilities/ backlash/ side-effects?

Now all the downsides of laogoanomics are surfacing?

Too late le?

Almost 28 years of Laogoanomics steriod is too deep-rooted in every facet of peesai economy means any attempt to unwind it likely will induce cold turkey withdrawal pains too much to bear ...?

So everything has to be (kept) pushed up (& the can kicked further down the road) .....?

Chua Chin Leng aka redbean said...

My crystal ball says in the future all private properties will be changed to 99 year leases.

The reason, the new govt, mostly from HDB dwellers, would find private properties beyond their means. So to level up so that they too would be able to live in private properties, they would pass a new law that all properties would henceforth be 99 years, just like HDB.

The rich of today think they could control their wealth in properties till eternity. The more they do so, the more unreachable and prohibitive would private properties to change hands, and the more extreme would be the measures to level the playing field in the future to come.

The great inequality in China pre Communist day let to the rise of Communism and the redistribution of wealth from the ugly rich to the peasants. Communism may be dead, but legislation and the rule of law are not and the future leaders and generations would use legislation and the rule of law to right the wrong of this generation, to redistribute the wealth of the nation more equitably, by the rule of law.

Anonymous said...

"Clever or sneaky, say what you like." - RB

It is similar to the unscrupulous deeds and outright day-light robery done by the mafia with ulterior selfish hidden agenda, pretending to say it's for your own good. In other words, The deeds of wolves in sheep skin.

Anonymous said...

HDB or not, is kind of question on own choice. In general, people buy hdb flat bcos of initial price is affordable to them. They can spare the extra money for kids foods and education. That is the selling point for hdb. Bear in mind flat is cheaper bcos it goes off at 99th year. Not a consideration to young couple when committing, who can predict tomorrow?
Buying a condo or landed has problem: size not usable for raising kids 2 or more. The monthly payment for swimming pool will pain the heart. No use at all.
That is the broad consideration. Hdb is available to citizen, who can also buy condo and landed.

The problem started when old fart kept harping voters for votes. He had said if voting for opposition, hdb price would plummet. Old fart has gone less than 2 years, hdb price is growing or declining? Many took old fart s words. Bought condo and sell hdb. Too many doing it will plummet hdb prices. Legally hdb owners must move to private and sell hdb. When they sell hdb, they thot they can get market less small cost, hdb charge them levy plus loans plus unknown subsidies they never signed for.
The sales proceeds will be cut from small to smaller.
To sum up, hdb flat is for staying, far from old fart s idea that hdb flat is for selling at high price to make money.

In fact, buy hdb flat means to stay. If buy hdb and buy condo, one can only have one choice.
If buying 2 condos, obviously one is for rental or sale.
So which group of buyers are we talking about?
Hdb s land price will not tell. Condo s developer land price can be traced, and one can know the price for first hand buyer on such condo.

If people are not happy with taxes, they cannot sue the govt. If people are not happy of levy on workers or maid, they cannot sue the govt. If people are not happy about levy on hdb flat sales, they cannot sue the govt. People must vote for opposition to reverse the levy. Will the reversal run down hdb flat prices, when selling s motive is to make money like old fart s motive, and buying hdb flat s motive is to make bigger margin from starting cheap? Opposition may not be able to sort out because the hdb prices have risen 200 to 300%.

One more point is buying hdb is buy signing with a sum not more than 5k. Can move in liao. So the loans must cut from cpf. That means interest start.
The hdb loans involve interest.
Paid up and sold the hdb flat, the proceeds will get cut interest owing to cpf. This point is very dangerous for young generation.

Hdb sales price might not be rosy forever. "What if" when sales proceeds is lower than the original purchase price? When this happen, selling hdb flat will make huge losses. Cpf takes back the interest can still be your money when needed at hospital. Levy big cut will make u broke without the flat and without much money.

Sinkieland is heading for that situation under loony. The properties are flooded with condos and landed. Hdb if can make big money at sales. A lots of selling will collapse the hdb market, and also condo market. U vote for loony, u pay for the price. Vote for opposition to change the population policy.

Sinkieland needs good jobs for citizens/NS men. Not good jobs for foreigners to buy condo here. If u make up your mind, u should choose opposition to cut off "good job for foreigners". Opposition will have to sort out the excess properties and convert them into industrial use to create good jobs for citizens. Remember u cannot sue govt for levy lah. U can vote for a new team to clear the mess. Pap s stuck on these problems and are not able to create jobs.

Anonymous said...

Do you think it's true?
Everything in Singapore belongs to the PAP government?
If it does not happen in this generation, it will happen in your son's generation?

Is it logical?
If you "own" private property in Singapore, your only long term protection is to vote Opposition?

Anonymous said...

Political Parody - This will never happen !!!

First they came for the members of the Opposition Parties (with law suits),
and I did not speak out because I was not an Opposition Party member.

Then they came for the outspoken Civil Servants,
and I did not speak out because I was not a Civil Servant.

Then they came for the private car owners (with the COE requirement),
And I did not speak out because I was not a private car owner.

Then they came for the HDB flat "owners" (by taking it back after 99 years),
and I did not speak out because I was not an HDB flat owner.

Then they came for the CPF monies (by extending the withdrawal age),
and I did not speak out because I was stupid.

Then they came for my bank savings (with many new taxes and tax increases)
and I did not speak out because I was stupid again.

Then they came for my private property
but by then, there was no one left to speak for me.

With apologies to Martin Niemöller

Any resemblance to real life is purely coincidental.

Anonymous said...

This CPF/HDB formula is a loony formula. Punt intended.

Virgo49 said...

Mr RB, In Penang, LGE try to have all leasehold properties converted to free hold and Sinkieland becomes No Hold even after leasehold.

When we brought our HDB units in the early 60s/70s, no such nonsensical what's Grants.

When we sell our units for bigger ones from the HDB, there is what's a Resale Levy amounting to hundred over K for bigger flats.

This also includes what's accrued interests as returned to CPF's Board and another chunk to be credited if your MS or Medisave is not enough.

A 50K payment of our own monies must be returned with Intersts accrued lost of nearly one hundred K after 30 to 40years.

We were penalized without even any so called bullshits subsidy and yet have to cough up these lost of interests on your own monies and capital gains.

Even you sell your HDB flats for private properties, still have to Top your MS and Medisave if insufficient.

Even for SERs flats may not repaid the levies but still have to minus interests lost and Top Up other revelent Schemes before you can have what's balance skeletal capital gains.

They made sure enough Medisave for your own Health Care Minimum Sum to sustain your balance years.

Rest, need for our million dollars salaries and Casino bettings.

Anonymous said...

U can vote for a new team to clear the mess.
10:45 am

U sure or not?

If the team, and by their own admission, is not even ready, united and strong to become govt, how to clear the mess?

Anonymous said...

The great inequality in China pre Communist day let to the rise of Communism and the redistribution of wealth from the ugly rich to the peasants. Communism may be dead, but legislation and the rule of law are not and the future leaders and generations would use legislation and the rule of law to right the wrong of this generation, to redistribute the wealth of the nation more equitably, by the rule of law.
RB 10:26 am

China under comrade Mao Tse Tung's communism had equality but all the people became poor like peasants and suffered. Good or not?

China under comrade Xi Jinping now has great inequality with a lot of rich people but majority are still poor and suffering. Good or not?

If Sinkieland under new but not PAP leader has equality but all Sinkies become poor like those peasants under Mao, good or not?

If not good, still want Sinkieland to have equality for all Sinkies?

Anonymous said...

Although there is great inequality now in Sinkieland but definitely there will not be any revolution like what had happened in pre communist China that resulted in Mao Tse Tung as communist chief attaining supreme power.

On the contrary, there will be great political stability with PAP poised to win big again next election, never mind even if the keechiu joker become PM.

That shows how stable Sinkieland is, politically and even socially. So if PAP can sure win big even in elections, and even Hong Lim Park now is so deserted, how to have illegal mass protests, let alone revolution to change govt due to inequality?

Virgo49 said...

Anon 11.48 and 11.58 thinkings are the stumbling blocks for any Opposition Parties to be the GOVERNMENT of the Day in Sinkie land.

Their mouths pieces of Fears and the Propaganda of the PAP instilled Fears all the while in the Daft Sinkies.

Do they think that in 1959, the People of Singapore thinks that the PAP is the Right Party to be the Government? ?

You think the PAP at that time is already as United and ready to be the Government? ?

They were just as Novices as the Rest of the Opposition Parties of today.

The People at that time also took hope and chance on them.

So, likewise you must also take your chance on the Opposition of Today.

Without Change, there be No Change at all.

It's just because most are already been castigated to be Eunuchs.

Anonymous said...

hi 158pm

you don't border whether good or not

just mind your business

try to 3Ms

in Singapore you must have M, plenty of M

no M no talk

you die your business

you know

Virgo49 said...

Mao Tse Ting.Great Exhortation :

WIthout Destruction, there is No Construction.

If you afraid of Change, there will be Forever No Change At All.

You must not be afraid of the Destruction for the sake of the Construction.

You want your descendants to be Forever as Slaves???

My next Generation ended here with no further slaves.

Anonymous said...

The one said not ready is gone. The one promised hdb prices kept increasing had gone underground.

Your time to see hdb prices plummeting will be in next 10 years, when Pap implementing White Paper to get another few millions foreigners for 6.9 millions.

You will still type in post, the one not ready, how can be sure.
PR means PR, cannot be voter. So you are always not ready. Can watch citizens here vote out the Pap, and u lose your IB $7 an hour job, taxed on voters.
You are still not ready, but ready to go bark to baleh kampong.

Anonymous said...

The mystery on worshiping "O level has 4 As" still not unfolded on sinkieland? Voters in similar chinese majority like taiwan are not shocked to realize their very own nobel prize winner is a blind to fact heavily political bias animal.

It tells one fact: people of intelligence tend to belittle average people who might have better brains on analyzing situations, which required honest conscience. Right or wrong cannot be wrong can be right. Corruption means not clean, cannot be some corrupted are clean. Intelligent people will believe, they can turn dirty as clean.

Sinkies should now ready some facts about intelligent people at silicon valley. Do not rule out sinkies never have chance to work there.
"But this week Vanity Fair published a book excerpt by Emily Chang revealing that Silicon Valley is as sexually debauched as Hollywood, the political world and the media. Many titans of the tech world – entrepreneurs, executives, investors, founders of companies – regularly host drug-fueled, sex-laced parties."

Sinkies should take their average intelligence as good as those elites claiming to be world class. They should believe opposition candidates are better in intelligence than the elites. The latter group is consist of army camps workers boxed in a closed working environment. In politics, their experience has no clear value when dealing with voters daily hardship.

Its time to vote for a different team. Sinkieland need a new team in 2019 and not years later. Sinkieland s chances to progress are missed and eroded by these ex army workers. The chance and time loss is beyond calculation because NS men young generations will not heel to protect this island if they are not given with good jobs to cover the high costs to live inside it.
Be rational, vote for a new team to change the stupid ideas the pap has: breed foreigners to do jobs while young NS men drive cabs under uber. It will collapse this island when come under attack from neighbors. Remember they do not like netanyahu who came here last year. Sinkieland s leeders are idiots.

Anonymous said...

The stupidest people on earth, especially the 69.9 % !!

Anonymous said...

Are u sure they are the stupidest 1.55pm?

Anyway, they must be the happiest to vote for them!


Anonymous said...

Sinkieland s leeders are idiots.
12:53 pm

If they are idiots, how can they become leeders of Sinkies, unless the 70% Sinkies who voted for them are bigger idiots? Cannot be, right?

And how can leeders who are idiots be able to get million dollar salary and good life, u tell me lah?

U so smart can get million dollar salary or not?

Anonymous said...

Sinkieland s leeders just want to have good GDP growth to peg to their million dollar salary and bonuses. Meaning higher GDP growth, bigger bonuses for them and their ka kia civil servants and prosperity for Singapore. Just look at the number of cars choking the roads! And some more cars are so expensive in Sinkieland!

And if they can sacrifice some Sinkie PMETs (maybe 30% or less) to become jobless or end up as taxi drivers to get the high GDP growth and to get it fast, of course they will do so as long as they are confident that majority Sinkies who still have jobs and good life will also continue to vote for them. And indeed a whopping 70% Sinkies voted for them!

So too bad lah, for the minority of Sinkies who are jobless, money no enough and suffering. So just learn to be smart to 3M (make more money) lah. Or else there is simply no other way to end your suffering from money no enough.

Anonymous said...

U insist they are not idiots, u like them. Similar characters fond of each other. This is the fact in science in primary school text. No need to write more words. U should vote for them.

Anonymous said...

If u are a ex PMET turned taxi driver now, do u think u will have a better job if opposition become govt? Or will u still have to continue to drive taxi, that's the question.

Anonymous said...

If u like drive taxi, u must not give up. There are many self employed jobs u can do. It s a simple decision u decide.

U vote for opposition to raise the salary of employed people. If u are self employed, u want others can afford to take your taxi to increase your volume. If u are not driving taxi, u want others to buy more products from your shops or otherwise, again u want to see salary raise, NOT curbed by foreigners rushing in asking far lower salaries to under cut u, under Pap s population policy on white papers.

U dont want to see salary rises, u should vote for pap.

Anonymous said...

Look at sinkieland s airline, 6th in asia pacific.
The OAG Punctuality League 2018:
HK airlines No 1, Jetstar No 4, SIA No 4.

Using army general or scholar will have this kind of results. Dare to aim for another army general pm?

Anonymous said...

SIA No 6th

Anonymous said...

Dare to aim for another army general pm?
3:36 pm

The more pertinent question should be:

Will majority Sinkies dare to vote for the Sinkie opposition (if they are about the same as last election) as govt in next election?

What do u think?

Anonymous said...

After 50 years, if the Sinkie opposition still cannot be strong, united and ready to be govt, what makes majority Sinkies hope that they can be ready in 5 years, that's the question.

I believe PAP also ask themselves the question, and knowing Sinkies well, become as confident as ever to win again the next election.

Anonymous said...

Anon 3.48pm

They said could be 80% at next GE!


Anonymous said...

Its u dare not to vote for opposition. Then u have pap waiting for u.

The decline of SIA started when the son took charge. The management of tiger air was a typical exam. Started from a non air line "talent". SIA did the same with high fliers scholars.

6th out of 10 ranking airlines, is below 5th, not pass the average test.

Airlines not keeping on time, is similar to mrt not keeping on time.

There is no dare to vote opposition or dare not. Its putting a tick or cross. Sinkies especially the young generations will not be like u at pioneer generation.

Only the results will tell who win in GE.
No one will want a united opposition. None of the opposition is qualified except WP. What united opposition?

WP can grow depends on votes and successful candidates. Votes come from voters who like WP candidates to do the jobs. No dare or dare not. U are the unique thinker. Wear this shoe brand: just do it. U will just vote for wp. So easy.

Anonymous said...

They said could be 80% at next GE!
4:03 pm

Yes possible, 80% votes and 100% seats won for PAP, if WP were to lose Aljunied, and through PAP gerrymandering, Hougang disappeared as a SMC next election.

High chance WP will lose Aljunied if the 3 WP MPs lose the $33M "ownself Town Council sue ownself MPs" suit and made bankrupt before next GE, like what had happened to Chee Soon Juan before, but for different reasons.

Virgo49 said...

AMK GRC will still have 70 over percent AMK PAP supporters even their TC GM absconded with all their funds.

AMK GRC comprises of 70% PGs???

Wah Third and Fourth Generations Enlightened Voters voted differently? ?


Anonymous said...

Will majority Sinkies dare to vote for the Sinkie opposition (if they are about the same as last election) as govt in next election?
January 07, 2018 3:41 pm

If PAP "rejects" like Tan Cheng Bock and Tan Kin Lian dare not form a political party;
What makes you think PAP slaves like you dare to vote Opposition?

b said...

“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”

― Albert Einstein

PAP fully understand it and using it to their full advantage. Citizens are screwed.

Anonymous said...

Dr M is the candidate for PM Malaysia if opposition wins the GE this year.
"Mahathir and Anwar’s wife Wan Azizah Wan Ismail will be the Pakatan Harapan coalition’s candidates for the premier and deputy prime ministerial posts respectively, secretary general Saifuddin Abdullah said at the alliance’s convention."

Once Anwar comes out, he is likely to take over.

Sinkies have a even more interesting PM handover.
The old ex pm wanted it done by 6 to 9 months. The present PM said nothing, can say no heel?

Its likely that the present PM will continue without naming or allowing the younger ones to pick one head to support.

This development is very unusual given that a PM s job needs to have some handing over and understudy if the new PM were to do well in GE.

What if the current PM just carry on without looking into the ex PM s warning?

Anonymous said...

How many of you believe the PM is decided by his peers?

Anonymous said...

Virgo49 January 07, 2018 11:57 am
//Hello Bros, just go to JB-the Store and DIY in Melaka. All the DIY accessories or now even Ready Uses items are just a fraction of what's you buy in Sinkieland. The Toilet accessories of shower heads, basins etc are what's they sell in actual value of RM and the same price of the RM in Sin $$$.Tesco maggi Ketchup/Chilli sauce at RM3.20 per bottle. - $1.00 plus. Their Nescafe Black at RM9.90- Sin 3 plus. That's why thousands cross the Causeway and to Melaka everyday.//

Uncle Virgo,

Previously visited some matland supermarts & sometimes chit chat with some families while in foodct ...

Based on what some (sinkie) families who go to neighbouring countries to buy groceries told their counterparts when asked why bother the hazzle to do it every month, their meagre salaries (earned in peesai) can only survive with MATLAND's COL (cost of living) ... if buy at peesai nutc, their children will starve in sch cos no more $$$ left to give children pocket $$$ ...

For example, one full trolley load of grocery/ household items at Matland supermarket cost about RM400 (abt $135) for about 10 to 15 days supply .....

If buy at nutc easily SGD a few hundred means every month one thousand plus ... (no more $$$ left give children pocket $$$)

If buy at Matland 3 times a month only abt $400 to $420 (abt RM400 x 3) ...?

So it is out of necessity, not choice (for the low income sinkies)?

Also if buy in nutc, plus makan for family of 4 lunch & dinner easily S$100 each outing but in Johore, with abt RM120 {S$40}, (it is) more than enough for entire day outing on a weekend ...?

If cannot go Johore buy, for (such) low-income families, then no choice every weekend but to coop up at home dont go out (cannot afford), eat at home instant noodles with eggs/ toufu or rice with some salted eggs and vege for lunch/ dinner ...

In peesai, for the rich it is a playground/ paradise ....?

For the low income, it is a "living-hell"?

Every month, how many low-income families got their electricity supply disconnected?

Not sure, go walk neighbourhood blocks corridors look at the power metre if connected with the top up card device/ reader (giveaway sign), can count how many in each block living below poverty line?

Some families resort to borrowing from money lenders to get their power supply back (for their children) & subsequently got into more debts (& endless problems)?

If an expensive outfit Don Don Donki located in tourist belt (in Orchard) can sell many items cheaper than nutc (which are predominantly hdb heartland based), then sinkies need to ask has the peesai pricing formulae started under Laogoanomics morphed into "a monster vacuum sucking sinkies sweat blood $$$" ...?

Anonymous said...

In a Natural Aristocracy (Western concept equivalent to Asian Dynasty) as already openly declared by Lee Hsien Loong, what is the use of the other Ministers' voces or opinions? You tell me lah.

Anonymous said...

Anonymous January 07, 2018 10:10 am
//The very high rental means higher retail prices for all products in Spore.//

How did high rental come about (in the first place)?

Drop from the Sky (like Atomic bombs by the Americans on Hiroshima & Nagasaki)?

Or it can be traced to Laogoanomics asset inflation ("atomic bombs") in the 1990s?

Anonymous said...

Rb 9.14am //The high cost of everything would make this island irrelevant just like the US dollar.//

Under Laogoanomics' asset inflation, COE & ERP (1966 1st class honours economics) policies, prices in peesai shot towards sky?

Ever since 1990, prices have stayed high in the sky at astronomical level?

But all satellites will eventually expire and crash into the sea?

When the over-inflated price bubble burst, Laogonomics will likely be game over?

Virgo49 said...

Right you are Anon 9.49

Under LKS /GKS, rentals under NEA for market stalls - 200 to 300.$

Consumers paid affordable prices for their daily necessities.

Now these money grabbers have them bidding up to millions for coffeeshops and they will in return slaughtered the consumers.

Hawk stall pioneer lessess leased their stalls to another party for thousands and paid only hundreds.

Many became middle bourgeoisie elites w/o even have to work besides renting out their whole HDB flats and lived like Tai Tee Longs.

The next blood suckers longs are the developers with malls in league's with the PAP to suck the blood of Sinkies.

Even RC grassloots supposedly to serve the people also joined to suck the blood.

Empty vacant lands in their constituencies were leased out for exhibition sales for ND and CNY.

Charging the exhibitors exboriant prices and into their unaudited coffers for their members and families holidays and excursions.

Now Sinkies slaughtering Sinkies everyday.

Vicious circles.

Every man for himself.

Anonymous said...

Rb, Knn your prediction that freehold will be change to leasehold really frighten me with sleepless night last night. I am planning to WILL my freehold property that I worked very hard for for my children. Knn, now if your prediction come through, I am kena fucked already. Initially, I was planning to WILL my property to kids and use the rest of my retirement money to hug meimei like agongkia. Still have not experimented with the blondes, the Japanese Mei Mei yet. Now this plan is in jeapody as I have to set aside the fund now for the kids too. Knn I hope your prediction will not come through.

Anonymous said...

In the futute, if any other political party gained the mandate to run the country, the very first thing it should do is to investigate into ALL the PAP' accounts, the PA' accounts, the RCs,CCs, CCCs, and Town Councils.

Chua Chin Leng aka redbean said...

Hi Anon 6:57am, this is only a natural cycle of things. Unfettered capitalism will lead to extreme wage gap. Unfettered property prices would lead to the rich changing all the rules to protect their wealth and in the same breath deprived the poor from ownership. At one point it would snap.

The greedy and powerful would think they could change all the rules to their advantage just like a dying empire. The more they try to protect themselves with more oppressive rules the more they would force the people to rebel.

Moderation is the key, but we are not seeing it. Singapore and Orchard Road would turn belly up because of high operating and wage cost and inflation. A caveat, wage cost is low at the bottom but extremely high at the top. It is so top heavy that it would topple on its own weight.

Anonymous said...

In the futute, if any other political party gained the mandate to run the country, the very first thing it should do is to investigate into ALL the PAP' accounts, the PA' accounts, the RCs,CCs, CCCs, and Town Councils.
January 08, 2018 7:15 am

That's what Goh Keng Swee used to do.
Whenever he took over a new Ministry, he would order his team to do an audit first before taking over.

Do you think the above is true?
If it's not true, do you think it is good practice anyway?

Anonymous said...

Rb, Knn your prediction that freehold will be change to leasehold really frighten me with sleepless night last night.
January 08, 2018 6:57 am

@ Knn
You got study PAP's history or not?

In the first 15 years of the PAP government, was there a lot of private freehold land that was "bought over by rule of law" by the PAP government at the "prevailing market price" that was determined by the "Singapore Land Office"?

Is the above true or not?
Why not study history and tell us the answer?

Virgo49 said...

The PAP land grab from many private owners.

Paid a pittance if have to follow the Laws.

That's why our good friend Mr Patriot is so sore. His Plantations been usurped and was paid a pittance. Pigs farming etc.

Now even they can suka suka potong your land for essential service.

Also paid a pittance.

Their good friends the developers hungry for Land Banks.

The HDB knew that many Sinkies cannot afford their sky high prices that why now got what's flexi flats.Only paid for number of years of lease.

In no time, Private properties will also be flexischemes as Sinkieland main economy is only internal slaughtering the Sinkies.

Many Sinkies wants to OneUpmanships will go for the Private Properties to how Lian they already arrived.

Whether at Heavens or HellGates.