Below are some extracts from an article posted in the
independent Singapore on the current furore over the depreciating value of HDB
flats. Netizens are angry with the CEO of HDB for telling them that the value
of their flats would fall as the lease got shorter.
“then-National Development Minister Mah Bow Tan told
Singaporeans: “We’re proud of the asset enhancement policy. (It) has
given almost all Singaporeans a home of their own…that grows in value over
time.”….
current National Development Minister Lawrence Wong…majority
of flats will be returned to HDB, without any compensation for homeowners, when
the 99-year-lease runs out….
Dr Cheong, “You should buy a flat, as you say it
commensurate with the lease. The price you pay should commensurate with the
lease. As you should buy a flat that would last you a lifetime.”
Netizens criticised Dr Cheong for her “out of touch”
views on how Singaporeans can monetise their flat. Not realising that the
options she offered aren’t ideal goals for ordinary Singaporeans who likely
hope to enjoy the fruits of their labour in their senior years….”
What Dr Cheong should say, and what the daft would
want to hear, is that the value of their HDB flats would keep going up and up,
even when the lease expires. This is music to their ears. Saying that the value
will fall and turn to zero are bad news, unacceptable, unpalatable and anyone
saying it should be slammed. Dr Cheong should be wise to say things like what
Mah Bow Tan said, that the value of HDB flats would grow over time. Then she
would be like by the daft, never time if what she said would be half truth or
truth with many qualifications.
Let me say something the daft would like to hear. I
will parrot the ministers in past saying asset enhancement will enhance the
value of their HDB flats and the value will grow over time. Be happy with this
news, just like be happy looking at your CPF statements seeing the value going up
every time. Feel rich, feel good, just put the head inside the ground like an
ostrich.
Don’t anyone dare tell the daft that the value of
their HDB flats would become zero. This is unspeakable even if it is the truth,
the final truth. Daft only want to hear good news, the good stuff, even if they
are untruth or half truth.
14 comments:
Uncle RB, the white men party will will parrot that their asset enhancement hdb flats value will be greatly enhanced especially during the GE times. This is the time that these whites men & women would do their Promises After Promises to hoodwink these Dafts Sinkies into believing that their hdb flats actually got value & after lease will have some en-bloc sers schemes when they vote for these whites party. Soon after GE, everything will just be amnesiacs & hdb flats back to zero value again when the lease r up, there r about 70-90% daft Sinkies believe these whites wolverines & don't know that they r being slaughtered left rite centre till their lease r up, Stupidity is no cure in this tiny island.
Rb, sinkies are like that. They buried their heads into the sand and only wanted to believe what they wanted to believe and not the truth. Knn what else to say.
See No Evil, Say No Evil & Hear No Evil r all the senses shut down by the Daftians Dobbits Singietians. The clamping of fake news will result in more of these senses be shut & it become dumb 4ever, foreigners when they arrive to this shore they will be astonished how dumbass humpy dumpty daftians hobbits could survive the shut down of their senses for ages, may be these foreigners talents may proclaim such living creatures as the extinct of the extinct even worse than the dinosaurs Jurrasic or Cretaceous Ages much worse than stone ages men.
Many also do not realize that via the CPF Life standard plan, they swallow the whole of your savings at age 81/82 and u have nothing for bequest if u die at that age.
eg if u have $160,000-%170,000 in your CPF retirement account at age 55 and with a 4% compounded interest this will grow to $240,000-$260,000 at age 65 withdrawal age. If they pay u $1000-1100 monthly after age 65 and u still earn 4% interest on the balance, u should actually still have $200,000-$220,000 at age 81/82 (as the interest earned at 4% amount to roughly $800 per month).
They makan the $200,000-$220,000 at age 81/82 and u have nothing to leave to your family if u die at 81/82 !
Another way of calculating:
Ar age 55 u have the minimum sum of say $161,000 in your retirement account.
At age 65, u have roughly $238,300 in your retirement account after earning yearly compounded interest 4%.
If they pay u monthly $1,000 under the CPF Life standard plan, it means your principal amount diminish by $200 per month ($1000-$800) or $2400 per year which is roughly negative 1%.
From age 66 to age 81, your principal amount drops $238,000 X 0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99X0.99 to $206,000 roughly.
Your $206,000 kena makan whole if u die at age 81 (or 80-82 roughly) with nothing for bequest !
Bad choices don't warrant sympathy.
HDB is public housing. It's not supposed to be an "asset". If you can make some money, good for you, but don't be fooled into believing it's some kind of "investment".
Would a hedge fund include a bunch of HDBs in its assets? It's a piece of shit! It is for living in, your personal domicile, subsidized by The State.
What part of the word "LEASE" do these cocksuckers not understand?
How ridiculous. They expect a leased unit, never to expire...for the lease to continue to perpetuity?
Someone whack these people on the side of their heads with a ball-pin hammer lah 😛, because I'm pretty sure, you ain't gonna find a brain in there!
You want something which deep down you know is IMPOSSIBLE to be true. And when reality bites you in the ass, you get angry, and conclude that you have somehow been "cheated".
This is yet another reason why I will not support the idea of a "real demo-crazy" in Singapore. Motherfuckers with no money will vote themselves in to the wallets of the people who have money. It will be "theft by the unruly mob". It will be the politics of ENVY.
Grow the fuck up lah!
Matilah, go take your medicine before you post again.
The people are angry with people making fake news about HDB flat prices can only go up and up, asset enhancement, not about the lease expiring.
Uncle RB, u r rite. Lease of HDB flats is not the issue cos the rule can change by extending or re-sale it or en-bloc it. But HDB flats silly price never go up that's the problem! Imagine if a person bought it @ one million bucks for a hdb flat after some years it went down to zero value! Whoa it's that crazy & dafts Sinkies r not stupids in these that's why they kpkb now but no use till they wake up to vto the gobbleman which is quite impossible now.
Very soon, when the shit hits the face of the dafts, the perpetrators of asset enhancement adding value to HDB flats will come out and say 'you cannot expect a 99 year lease not to depreciate in value as the lease approaches its terminal life span'.
This argument has been applied successfully to floods and MRT breakdowns etc.
But bear in mind that the appreciation in value of HDB flats, after upgrading and enhancements, has been touted for decades by the MIW themselves, and this argument has been sold successfully to the dafts. That is why next GE it will still remain at 70% if the dafts do not realise that they have a brain inside their heads and buy into the argument.
@ RB
I suggest you take your medicine and get a brain scan for a possible tumour, your cognition and judgement are way off.
Trusting in fake or real news is a choice you make by evaluating claims. If you are unaware of human biases, you don't qualify to comment, nor do you qualify as a "victim"---it's your own fault for being WRONG.
Most people still have traoble accepting the fact that you are 100% responsible for everything which happens to you, and what to do about it. i.e. there are probably no victims, except in a few extreme cases. Where you are, what your state is...you are always 100% responsible.
For those others out there, might I suggest Charlie Munger's The Psychology Of Human Misjudgement
Everything about the cognitive dissonance of the "victims" of the HDB reality is mentioned there. Use the HDB thing as a case study, and for fucks sake learn something.
You always fool yourself. If you think others fool you, they don't. They are simply exploiting your own cognitive biases and dissonances, and inattention.
Better book that brain scan bro ;-)
Wah, MRI whole body in capsule with ceiling only about six inches from your nose already scary. Brains Scans?? My Helluah! Noise in your ears and heads for close to forty five mins can drive you Local!!
What's more Scan on brains ??
Come out Zombies!!
You must know how to enhance and capitalize on the PAP Bullshits of Millionaire, Airs or Hairs owners.
Many had done them before and am now living on the profits of the Dafts.
Those who brought at the earlier stage of HDB flats, especially in hot mature areas which is not HOT under that time as all flats are the same price under LKS and GKS.
Many sold and resold and resold and made profits before they have the one cherry rule of paying Resale Value if you sell more than your first flat.
Secondly, when peak, sell and make 1000% profits. Downgrade to studio with nor Resale levy or Two room flexi flat at a two fractions of a 99 year lease hold flat.
Have the younger more how lian yuppies buy them at a premium. Many also not satisfied buy condos thinking that they can make more monies by renting other properties.
The Ropes on their necks so tight that they are now standing Tip Toe on a raised chair that can fall any time when they are chiak kia kee or one of their spouses go see maker.
I have one friend with niece buying a $9800.00 originals price three room flat with only 50 plus years balance lease luckily under SERS from a Malay couple at $430,000.00.
His bro brought a BTO so called subsidized new 3 room flat in Jurong for less than 100 thousand K. Now wife with two kids stopped work. Everyday got to eat chai png at S$2.50. Father in laws luckily got lots of golden handshake payouts for retrenchments from Exxon Mobil. Our time one month one year for 40 years plus extra three to five months and other fringe benefits. Now Tooth pick king advocated one month's pay in lieu of retrenchments.
Every trip to Melaka have to but at least three to four cans milk powder as sponsored by Father In Laws. See how chiam today's new generation.
Pioneer owners very chiak ark. Brought 90K and sold at 430K. 25K and sold at 600K, 45K and sold at 800K.
This is called Enchantments Value as spurt by our Great National Development Ministers and the Pee Ayam.
Balance less than 60 years lau kok kok and you buy them at over 400 to 800 thousand K. with original price at only below 10 to 50 K.
Stupidity got no cure.
The more degrees they have, the more dumb they are.
Now the old folks smiling and enjoying their time in Genting splurging away your blood monies.
Goalkeeper said more good years. He has been keeping goal, since 2010 passed by and Sinkies are stil waiting and dreaming of taking part in the final of world cup football.
Toothpick snatcher said GST is to help the poor. He also said he would be worried if there are no retrenchments. Of course he does not have to worry because he feels so rich every time he looks at the CPF statement.
Cow said he looks silly asking Sinkies to send their parents to old folks home in JB. The plan was abandoned, but with limited land and incessant increase in foreigners, who knows if it will be revived? All they need to do is to reduce permits for old folks home here, make them terribly expensive and force children to think of alternatives up north. In fact they do not have to do anything themselves to precipitate a mindset change.
Pinky said that if Hougang fell to the opposition, rubbish will pile up to the third storey.
Now we have started to realise the fallacy of the arguments put forward by the powers that be that HDB values will keep on increasing with upgrading and enhancements. What are they going to tell us next?
Over the years, Sinkies were bombarded with all the fake news. When will wake up?
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