Originally posted by oxford mushroom:
So you blame the bank for lending you the money to buy a property
when you should have just rented a flat instead? For goodness sake,
Singaporeans grow up!
The bank will extend the loan since they get the property if he
cannot pay up...
Are Singaporeans blaming the
Banks, or are they blaming the Government ?
Singaporeans are blaming the Government for being greedy in their
double accounting to justify the price increases of HDB Flats,
which are generally priced just slightly below Private Flats.
Is the Government absolve from the troubles of Singaporeans, when
it is this greedy bunch of white collared administrators -
justifying their high salaries - that is responsible for high
prices so as to increase the revenue flow into the National
Treasury.
Singaporeans are blaming the Government for failing to honor the
pledge of their PUBLIC SERVICE to Singaporeans by transferring the
HDB Home Financing to Private Banks based on Commercial Rates - as
well as Terms and Conditions.
This situation becomes the worst nightmare for Singaporeans, when
at the same time that Private Banks are taking over the long term
lease for HDB Flats, the idea of CPF Cuts and short term employment
contracts have been vigorously encouraged by the NTUC and the
MOM.
Almost TWENTY-SIX Years ago, the 1984
HOWE Yoon Chong Commission to review "the Problems of
the Aged" had already seen the impending crisis due to the
insufficient CPF accounts of many Singaporeans needed to tend to
their old age medical issues.
Yet despite all the tinkering with the CPF system - including CPF
contributions by the Employers and Employees - nothing was done by
the Government to bring costs down for the benefit of the majority
of Singapore Population that is totally dependent on the Government
for all such public housing and medical services.
Costs for Public Housing and Privatised Medical Services (but owned
and operated by the Government ) remain too high for most
Singaporeans.
This has resulted in a large stock of unsold HDB Flats that are
priced high; and a costly Medical Service that the older
Singaporeans can only visit once and its entire savings will be
wiped clean.
Even a graduate working for five years, can hardly afford to buy
and pay for the monthly instalments for either a simple 3-room or
4-room HDB flat based on current salary levels.
